Personal Finance Entered into a Credit Counseling Debt Program |
- Entered into a Credit Counseling Debt Program
- My mom's only income is $780/month from SSI -- where is the best place in the U.S. to move?
- Mid 20’s, $0 debt, $66K salary, no car or house payments, $950/month apt rent, company matches 4% to 401K and I get shares. What do I do with all this extra money?
- Hi everyone. I just got a job with a salary of $48,000 a year. I have over $100,000 in student loans, credit cards debt, and a mortgage. Should I pay off my debts first before contributing to my 401k? I have a company match of 6%.
- Graduate medical school in a year, half a million in debt.
- Can't get out of this black hole
- Help with my apartment
- Wells Fargo increased escrow by over 5X!
- Military Banking and Insurance, what’s the difference from normal?
- Can collectors charge interest for medical debt after statue of limitations?
- Big raise, best advice moving forward
- Helping my baby sister start her life out..
- 23 years old. Bought a rather expensive, new sports car a few months back. Mildly regretting it now. Should I actually think about selling it?
- Airline owes me money but is dragging feet
- Unsure of how to pay for college?
- Brother has no bank account.
- Should I go from government job to contractor for more pay and stock matching?
- Teacher looking at 403b, ROTH 403b or 457b. What are my best options?
- How much is too much to ask for a raise?
- PayPal replacement for eBay
- Best apps or websites for family budget?
- [Excel] question regarding simple future value formula
- IRS sends check mail on Fridays but..?
- HELP: How do I retrieve my cash? *frozen venmo*
| Entered into a Credit Counseling Debt Program Posted: 28 Jun 2018 05:59 AM PDT I just wanted to tell someone about a milestone that I feel is a big one. After racking up over $32,000 of credit card debt, I entered into a debt program through ACCC. It was either this or bankruptcy. I spent nearly 7 years in huge amounts of debt letting depression get the best of me. When I was down, I bought all the things I've ever wanted. Saving was alien to me. In 3 years I will be debt free. I can't imagine how I will feel after spending so many years without a positive net worth. Anyway, thanks for all the help from this subreddit over the years and learning that sometimes you need help. [link] [comments]  |
| My mom's only income is $780/month from SSI -- where is the best place in the U.S. to move? Posted: 28 Jun 2018 10:59 AM PDT Long story short, my mom (58 years old) lives in a trailer park in NJ where the rent is $800/month. She makes $780 from federal disability (SSI) and an additional $100 from SNAP. She lives with a guy who helped pay the rent but they're splitting up, and the rent is going up to $1000/month for a trailer. It's time for her to leave the state I think.
She's expressed interest in Tennessee because of the natural beauty, low CoL and she likes the seasons, especially snow. Really no preferences aside from that and access to a decent library nearby. At the end of the day she can move to any state, I can always fly back to the U.S. for a bit to help get her set up as well. I'm hoping I can just find some 1 bedroom situation for <= $600/month, she'd keep her federal income, and I can throw in $2-300 every month to keep it manageable. Bit overwhelmed with the situation here -- where should I be looking into? Also, are there any states which would be good in terms of supplemental assistance/safety nets? Thanks in advance for any info or advice! [link] [comments]  |
| Posted: 28 Jun 2018 06:41 PM PDT I want to open Roth IRA. But what are other options that I should do instead...or do in addition to Roth IRA??? How much should I be investing in 401K? What about... 15% in 401K 5% in Roth IRA Help me put this extra money some place where I won't spend it on car mods or useless crap. [link] [comments]  |
| Posted: 28 Jun 2018 04:37 PM PDT |
| Graduate medical school in a year, half a million in debt. Posted: 28 Jun 2018 11:02 AM PDT Like the title says, I graduate medical school in May 2019. My loans as they sit amount to around $480,000 (college was expensive, medical school was even more expensive). Anyway, whenever I talk to someone about this, they say something along the lines of "Mehhh, you'll be making 250K a year, dont worry about your debt!" But thats impossible. That's all I do is worry. Anyone have advice on where to get started? I go to residency next year where I will be making 60K roughly for 3 years, and then full salary as an attending physician after that. I'm single, no car payment, all I pay right now is rent and utilities plus basic necessities. [link] [comments]  |
| Can't get out of this black hole Posted: 28 Jun 2018 12:20 PM PDT I'm a single mom and was recently struggling really bad so with no family to turn to and no financial help from family or my kids dad I turned to payday loans. That snowballed extremely fast and now I can't pay them and my normal bills without going negative and having nothing left for my kids to even feed them. I'm feeling like a complete failure since I already work two jobs and still ended up in this black hole. Just looking for some guidance or any advice on what to do, please. [link] [comments]  |
| Posted: 28 Jun 2018 01:41 PM PDT So I moved into my apartment on June 5th. I signed the agreement for $1280 rent a month plus a $1120 security deposit. This is all fine fine and not a issue. However my landlord told me(last night) he made a mistake in the security deposit and wants another $1000 for it added into the rent due on july 1st. Can he do that? I have the rental agreement that we both signed showing the security deposit as $1120 along with multiple texts when I first contacted him about the apartment and he stated the $1120 security deposit. So 20 something days after signing he just realized he wanted an extra $1000 for the security deposit. Can he just add in the extra $1009 after we signed the contract (it's for a 1 year lease) and I'm already a month into it. TLDR: landlord told me security deposit was $1120. Signed rental agreement which states it's $1120. Now he wants another $1000 because he said he should have asked for $2120. Edit: I live in California [link] [comments]  |
| Wells Fargo increased escrow by over 5X! Posted: 28 Jun 2018 08:26 PM PDT I just received a property value notice from the county and my appraised taxable value of my house went DOWN $95,000 from last year. I assumed they over estimated the previous year since it was new construction. I received a letter today from Wells Fargo that they are increasing my escrow from $300 to $1,700 per month! I've already emailed them now to ask if this is in error, but has anyone else experienced this? Seems unsustainable for someone trying to make mortgage payment to be hit out of the blue with a 5X increase. [link] [comments]  |
| Military Banking and Insurance, what’s the difference from normal? Posted: 28 Jun 2018 05:59 PM PDT So, my grandfather flew for the Navy in Vietnam, long story short. But I'm starting to live on my own and my sister is helping me with everything like that and she told me my grandfather would be the person to talk to about finance and credit, etc. I've used cash all my life and a card from an account that my parents ran. My parents aren't the best to talk to about money because they refuse to talk about money and their finances. They also have a card for everything. What my main question is, now that I have a new job I should open things under my name that I run, what's the difference between military and civilian banking and insurance. My grandfather and sister have used military banking and insurance for all their life and my parents are hesitant to talk about money so I can't really get another view. So what is the difference? My grandfather said he would hook me up with USAA and Navy Federal when I get the chance to stop by. [link] [comments]  |
| Can collectors charge interest for medical debt after statue of limitations? Posted: 28 Jun 2018 05:53 PM PDT In late July of 2013 I went to the Department of Health and Human Resources for a pregnancy test. Calculated to be 8 weeks. I was spotting and the RN told me to go upstairs to the Medi-Cal offices and get a temporary Medi-Cal and see a doctor. We didn't qualify for Medical by a couple hundred dollars but they told us about a program called AIM. Set an appointment to bring my proof of citizenship and othet documents. The next day I noticed when I bend over a gush of blood would come out. Went to the ER got checked out and said I was most likely having a miscarriage. Had to go to a lab and get blood tests daily. A doctor called me to tell me I have a ectopic pregnancy and to go to the ER now. I had the option of a methotrexate shot or surgery. I chose the shot. Methotrexate didn't work and ended having the surgery anyways. The first 2 ER visits were $4328 and $4678. Surgery and the last ER visit was $30000+ but we qualified for Medical for the month of August (my surgery was in August 2 and my husband missed a lot of work taking care of me). Since I wasn't pregnant anymore we didn't qualify for AIM. We called the hospital to make a payment plan but they wouldn't take less than $300 a month for each bill. We told them we couldn't afford $600 a month. They told us "Sir, we're not a bank. We're not in the business of giving money." They told us to borrow money from friends and family if we have to. Eventually got on collections. The Collectors agency have been charging interest(?) of $35ish a month. My question is, can they? Also the statue of limitations in California is 4 years (correct me if I'm wrong) Can they charge interests after the 4 years? I know I can't be sued. My new balances are $6274 and $6719. I've read about form 1099-c. Will i have to pay the IRS or is that only for loans. Any information will be helpful. Thank you. [link] [comments]  |
| Big raise, best advice moving forward Posted: 28 Jun 2018 05:40 PM PDT Hey guys I would really appreciate a little feedback, I have a few options I am mulling over investing all my "extra" earnings, paying off debt ASAP. Or to a blend of both. Here are some details to get you up to par with my situation. -26 year old male -bi-weekly paycheck went from $1200 to $2000 Debt: -Student loans: $400 monthly, roughly 20k total Mortgage: $850 monthly, roughly 98k total Auto: $380 monthly including insurance roughly 14k total Credit card debt: $250 monthly, 5k total Monthly bills: $1,880 Total debt: 137k (I always round up or over estimate my debts) Yearly bills:
Yearly take home income: 50k -Also, no 401k Hope the detailed situation helps bring sound advice. I appreciate you guys! [link] [comments]  |
| Helping my baby sister start her life out.. Posted: 27 Jun 2018 09:19 PM PDT So I recently moved out with my fiance and support my 17 year old sister with me (mother has her own issues and hasn't supported us well and dad is in another state on parole). I still work to support my mother, whom also lives with my little brother. It was time that I branched off to support my own household where I can provide a better home life. My sister also recently got engaged and plans to move out with her fiance after they get married. I told her that she could stay with me so long as she worked and paid $150 a month in rent. Not too much, but enough to keep her dedicated to a job before she starts college with her own life. She is also working to save money for a better car and to pay for school, her wedding and everything. I'm really proud of how she's conducting herself at this age. I have decided instead of utilizing this money, I will save it for her and return it back to her when she decides to go out on her own. So far, she has given $650 and it's exciting to me and my wife to watch this grow in anticipation of giving her the gift. This seems like something that would really change the life of someone just starting a life out and has no plans or idea this will come back to her. [link] [comments]  |
| Posted: 28 Jun 2018 09:04 AM PDT So I graduated college last year and got a job in San Francisco. My total compensation is $115k base + $40k in RSU per year (due to appreciation it's become $50k per year now) + $15k bonus, so I kinda felt like why not when it came to buying the car. I pay about 2.2k a month in rent, and spend almost nothing on food because I get free food at work 3 times a day and unlimited snacks, yogurt and stuff. The only things I spend on are drinks when going out, and protein powder. I also max out my 401(k) to 18.5k. My first batch of RSUs were due to vest soon, so I decided to go all in and buy a brand new BMW M2, because I always wanted to own a flashy sports car since I was a kid. It's a stunner, and drives like a freaking dream. But it cost about 68k after taxes. I put a sizeable downpayment, and now pay about 20k a year in insurance + payments + fuel. Basically, it's expensive. Right now I can save about 60-70k a year after maxing out the 401k, but I could easily save like 14-15k a year more if I owned a Camry or a Prius instead. I thought it would be worth it. But really, I don't even get to experience the thrill of driving it too often. I drive to work, and most of it is at a slow pace in traffic. Weekends I take it out a bit, but not every weekend because there's always something or the other I need to do. Basically, I don't feel like it would make a massive difference in my life if I owned a Prius instead. I've been thinking about that massive 20k hole in my savings lately. Now, I'm kinda stuck. It's a brand new car and I'd take a massive hit by selling now. On the other hand it costs 20k a year and I could possibly get a cheaper car that costs less than half that to maintain. What should I do? Should I hold on? Or just take it on the chin and think about selling it? Help. [link] [comments]  |
| Airline owes me money but is dragging feet Posted: 28 Jun 2018 02:46 PM PDT TAP Air Portugal owes me money for a cancelled flight under EU regulations for airlines, specifically (EC) 261/2004. I filed a complaint with them but they are really dragging their feet. I keep contacting them and they're just saying, "Wait for us to get back to you!" How do I escalate this to some relevant regulator? I'm in the USA and fairly frustrated at this point. PS: Don't fly TAP Air Portugal - in my post-flight research I'm finding horror story after horror story. [link] [comments]  |
| Unsure of how to pay for college? Posted: 28 Jun 2018 04:39 PM PDT Hello r/personalfinance, I'm a 17 year old (soon to be 18 year old) high school graduate, and if all goes well soon to be college freshman. I was accepted into a nice private college, but switched to an equally nice public university due to high tuition. The cost of attendance is $24,762.00 for the current school, and I'm recieving a financial aid award of $9,645.00 (that's with subsidized federal loans.) I wanted to live on campus initially, and that's how I marked it ln my fasfa, as I'm prone to depression which is at times worsened at home. I'm opting against that now given the price, which should reduce the cost of attendance to an estimated $11,000 - $12,000. My only fear is that my scholarship will be taken away due to this, or that the process will be done too late and I will no longer qualify for the fall semester which begins in August. I'm looking for a job that's walking distance to work over the summer, and work towards better paying positions? Even then, I'm not sure I'll be able to afford it. I'm looking to go into environmental engineering, and if that goes well, then I think accumulating some debt will be okay assuming I'm able to pay it off with the field I'm interested in (am I mistaken?) The situations filled me with a great deal of apathy, and feelings of hopeless. I know I can figure a way though this, but I'm a bit lost on how. *For notice, I'm a first generation American and college student, my parents can't help me as they don't know how to, and there are no youth centers near by to consult with this sort of thing. [link] [comments]  |
| Posted: 28 Jun 2018 04:34 AM PDT As a disclaimer I too think my brother is a grade A moron... but I dont think the rest of his life should be ruined because of this. About a year and a half ago, for a few months, my brother was a "money mule"; basically, if you don't know, he would get large bank transfers from dodgy accounts and pull that money out in cash before the bank flagged it. This resulted in him getting blacklisted at almost every bank in the UK. It took me and my Dad a couple months to talk him round but eventually he stopped and luckily got accepted for a low level account at a reputable bank. But today, a year and a half later, he gets a letter through the post by that bank stating that after a recent security check they're closing his account. Meaning the only bank account he has left is a virtual one on an app called "Movo". Is there anything we can do to unblacklist him? Or is this it? He has a student loan coming in soon, he's redirected it to his virtual account but we're not sure if that'll work. He's 19 btw. Any help would be appreciated. [link] [comments]  |
| Should I go from government job to contractor for more pay and stock matching? Posted: 28 Jun 2018 04:26 AM PDT Current situation: $92k/year. Government has pension(which I pay 4.4% of my annual salary into), 5% full 401k matching. Offer from defense contractor: $100k year. No pension obviously, but 7.5% full 401k matching. I would get the pension money I'm paying out now back into my paycheck. Long story short, I am thinking of going to contractor for about 5 years to use the extra money to pay off the rest of my school debt, then go back to government work to continue to build my pension again. Is this dumb? Is getting a 10% increase worth it for getting some stress of going to an At-Will state? There are plenty of contractors out there, so it's not like if for some reason the business goes under I'd be without a job for long. It's a small defense contractor. [link] [comments]  |
| Teacher looking at 403b, ROTH 403b or 457b. What are my best options? Posted: 28 Jun 2018 03:40 PM PDT I'm a second year IL teacher (28 y/o) researching investment options offered through my school district. Here's what they look like: 403b AXA Equitable Life Insurance Company / RIA, MF Fidelity Management Trust Foresters Financial (First Investors) / MF Global Atlantic Financial Group Lincoln Investment Planning / F, VA, RIA, MF MetLife / FI, VA, RIA, MF Oppenheimer Shareholder Svcs. / MF Pacific Life Insurance Company ROTH - AXA Equitable / VA, RIA, MF ROTH - Foresters Financial (First Investors) / MF ROTH - Lincoln Investment / F, VA, RIA, MF ROTH - Valic / VA T. Rowe Price Trust Company VALIC / VA Waddell & Reed Inc. / MF 457b AXA Equitable Life Insurance Company - 457 / VA, RIA, MF Lincoln Investment Planning - 457 / F, VA, RIA, MF Valic - 457 / VA I'm aware of the basics between each investment type but unsure as to which is the best choice. I've seen Fidelity spoken highly of. Is that the way to go? Thank you for your help! [link] [comments]  |
| How much is too much to ask for a raise? Posted: 28 Jun 2018 05:28 PM PDT I have recently completed a very successful project so I think that now is a good time to ask for a raise. I've done some research (recruiters, co workers and jobs that have salary range posted) and found that I would need a 20% raise to get me where I should be. I'm happy where I am but I'm worried that this would be asking too much and send up a red flag. Any tips? [link] [comments]  |
| Posted: 28 Jun 2018 07:07 PM PDT Hey pf. PayPal decided to block my account, as they are apparently known to do, so I need to find an alternative to keep selling on eBay. I was thinking about authorize.net and setting up a checking account with an online bank to make deposits from authorize.net. Signing up with authorize.net via eBay apparently waves the $25 monthly fee, so it seems like a no brainier. I'm not a heavy seller, but I enjoy it and I can really make some extra money when I try. Anyone have any experience or recommendations with this? Also what's a good bank to use for this? Thanks [link] [comments]  |
| Best apps or websites for family budget? Posted: 28 Jun 2018 06:35 PM PDT Can anyone recommend the best site or app to utilize to organize a budget for my family? [link] [comments]  |
| [Excel] question regarding simple future value formula Posted: 28 Jun 2018 08:38 PM PDT Hi all, I'm looking to incorporate a formula in my current Excel budgeting sheet that tells me how much I'd have in my 401K if I were to stop contributing today and assumed a 6% return. I've got that figured out, but am confused how I can get this value to display correctly when using months rather than years. Example: if I use =FV(0.06/12,312,0,-160000), whereby I'm assuming 6% interest and have exactly 26 years left, starting at $160,000 I get $758.5K. However, if I use =FV(0.06,26,0,-160000), I get $727.9K. I'm sure it has something to do with how the interest is being applied, but I can't make it jive in my head. I'd like to track it by month as I have a planned retirement date, and can simply plug-in my months left/current amount quarterly when I do an update. Can someone please assist? Thank you! [link] [comments]  |
| IRS sends check mail on Fridays but..? Posted: 28 Jun 2018 08:21 PM PDT So IRS sends checks on Friday. I'm desperately in need of my refund. My question is, if they send it on Friday, does the shipping company they use work on Saturday and Sunday? I live in the same city as the IRS. [link] [comments]  |
| HELP: How do I retrieve my cash? *frozen venmo* Posted: 28 Jun 2018 08:20 PM PDT My buddy owed me cash and he paid me through venmo only to see my account get frozen. Now the money is stuck in there and Im banned from using venmo services again from what I seen in my email. Can I do anything about this? I'd like the money back that is owed. Should I sue them? I'm terribly confused on how to approach this. [link] [comments]  |
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