Personal Finance Credit Score dropped from 860 to 682. Any advice? |
- Credit Score dropped from 860 to 682. Any advice?
- HIGHLY recommend a "fun money" savings account.
- Where do you park the money you are saving for a down payment?
- I did the math, I will never be free from debt or financially successful. Teach your kids about money management.
- Update on the Excel Financial Dashboard
- Mother is dead, Father is alcoholic and complusive gambler. I'm in first year uni and have a little sister to take care of. What should I do?
- Is leasing a car a bad financial decision?
- How to grow my small savings
- Gambling on F-1 student visa?
- $20K, what would you do?
- Does the 3x salary rule for a new home change based on taxes?
- Can medical marijuana be an hsa qualified medical expense?
- Mysterious tax Refund Deposit
- Possible fraud on my 401k
- Opening multiple secure cards
- Received a medical bill for a test performed 7 years ago
- Question about offer from potential employer - are they screwing me?
- International student without health insurance in United States, had to be rushed in Emergency room and was diagnosed with Bell's Palsy.
- Bank of America closed my account incorrectly, just found out they’ve been reporting me delinquent for 8 months
- Job has been paying me $0.25 less than everyone, should I ask for a payback?
- Both my parents are dead and we are losing the house. What do I do?
- What is a good bank for college students?
- Medicaid help
- So my credit score jumped about 60 points on Credit Karma, for apparently no other reason than that I was in a disaster area?
- Signed offer for new job with more interesting work, but not sure if I made the right decision even though current job is unfulfilling. Please help.
| Credit Score dropped from 860 to 682. Any advice? Posted: 03 Nov 2018 06:14 AM PDT I did everything right. Over a decade, I paid off all of my credit card debt, two cars, my wife's student loans, and my credit score jumped up to an 860 (I think that was the highest). I bought a house and got the lowest interest rate available at the time. I even had a back up plan in case of unexpected change. Kept building my savings. Paid my bills on time. Then I unexpectedly lost my job. I put the plan into action. Decided to move cross country to an area with a lower cost of living. Sold my house, moved back east, lived with family while I looked for a new job. I finally got a job and the next part of the plan was to buy a house. This is where I realized I had a problem. As it turns out, after more than 10 years without a missed or late payment, my wife and I had somehow "forgotten" to pay our last electric bill of about $200. We only found out about it after receiving a letter from a collections agency. We mailed in the payment and I checked my score. My credit score score had dropped to 682 in less than a year. It looks like after we sold the house, the score dropped from 860 to about 780. Then after this missed bill, it dropped down to 682. I talked to the electric company and explained that something obviously went wrong, because being 8 months delinquent on a bill didn't match our history with them OR with any creditor. They responded by telling me that they had not only mailed us two large envelopes we "couldn't miss", and had records of 8 different attempts to call us about this outstanding bill. They even claim to have records that my wife answered 2 of the calls (to her number), and that they left 6 voicemails. They say this was all BEFORE they sent us to collections. The man on the phone refused to listen to (what I consider to be ) logic. It just doesn't make sense for someone to just suddenly ignore a bill. I have no question that this bill was missed. After the chaos of a cross country move (with two kids), I'm honestly surprised nothing else slipped through the cracks. I just can't explain HOW it was missed for so long. We never got any of their letters. My wife's phone history shows no record of calls or voicemails. I disputed the claim with Transunion and they ruled that the negative mark was accurate and would remain on my report. Does anyone have any advice? What can I do here? Do I have any options? I want to buy a house, but with interest rates slowly climbing, the difference between the payment on a 4.8% apr, and a 5.8% apr is pretty drastic. In fact, it's throwing my back up plan into a tailspin. Sorry for the length of this post. I just wanted to put in as many details as I could. I really hope someone has any advice, or recommendation other than "sorry bud, you're screwed," or "wait it out, the score will go back up." Thanks. [link] [comments]  |
| HIGHLY recommend a "fun money" savings account. Posted: 03 Nov 2018 04:40 PM PDT My wife and I recently started one and we put in a little from each paycheck. Whenever we do something fun, such as a small date night or a mini (for now) vacation, we don't feel guilty about spending the money anymore. It's honestly an amazing feeling and I recommend it to all. [link] [comments]  |
| Where do you park the money you are saving for a down payment? Posted: 03 Nov 2018 03:55 PM PDT I am planning on purchasing a home with the next 2-3 years. A 20% down payment in the HCOL area where I live (Boston) means I'll have to set aside about $100,000 that remains liquid if I find the right property. Where do you park that money while house hunting? [link] [comments]  |
| Posted: 02 Nov 2018 03:28 PM PDT I posted a while back about my situation, things haven't improved. I am on a payment play with the IRS for substantial back taxes. I have $80k+ of student loans that is only getting bigger, even after paying minimums. Credit card is climbing higher every week, I put off logging into my online bank account as long as I can because I dread seeing what the CC amount is now at. To top it off my dog needed an expensive operation that I couldn't pay for and I got physically ill over the thought of starting a payment plan with a vet for it. We were able to re-home him with a sweet lady from a church and she is taking care of him and paying for his operation. So I lost my dog, which makes me chuckle a little thinking of how my life has become a stereotypical country song. I sold my fiances engagement ring for a lot less than I paid for it, but it barely helped. We fight all the time and she has made comments that show she is very resentful of me, with good reason I admit. No one should have their ring taken back and sold because their partner cant take care of his finances. I make about ~30k and I don't have the means or any idea of how to increase my salary. So tonight, after adding everything up and projecting to the future I have determined I will never get rid of this debt and will never live a financially successful life. That being said I do not blame anyone by myself. I truly envy the posts of people that talk about maxing out their 401k for the year, putting huge down payments on houses with the only struggle being should I buy a bigger house with a smaller down payment instead. Please teach your children, brothers/sisters, friends how to handle money. Don't make it a taboo subject, especially with your children. Let them help you pay bills, balance a check book, etc. Warn them of stories like mine, of ignorant, useless people who ruin their lives because they never took the time to understand how to handle money. EDIT: I did not expect this post to get as much attention as it did. Thank you for all of your comments, even if I cannot respond to all of them please know that I am reading every single message in my inbox. I truly appreciate all of the advice, criticisms, tough love, personal stories that are being posted. I know my tone here is very defeatist. I will work to change my attitude and fix my situation using a lot of the great guidance I have received from this community [link] [comments]  |
| Update on the Excel Financial Dashboard Posted: 03 Nov 2018 02:12 PM PDT https://imgur.com/gallery/5e53Jl0 Thought id give an update on the financial dashboard many seemed to like in my previous posts Have made some changes and am currently working to template it to the point where i can share/sell the template for others to use with ease. Am looking for suggestions on improvements or additonal additons which could help make it a more useful tool! Thanks guys! [link] [comments]  |
| Posted: 03 Nov 2018 08:26 AM PDT So the title explains it all, my mother passed away of cancer during this summer. She and my father were both complusive gamblers, infact I think that's how they met. She passed away of cancer this summer, but before that she hit up the casino and gambled away $100000 worth of money. My aunt who recently got pressured to sell her house by my parents, covered her(my mother's) ass and lives with us now. My father has recently just gambled $6000 of money that I have put towards paying mortgage, household expenses and food. To be frank I am done with his bullshit behaviour claiming he would change after my mother's death. I would much rather move out and take care of my sister myself. She's a fairly low maintenance girl and I could provide her with more than what she's getting at "home" I could get from selling the house. Due to her being a child, I understand that having both parents would be ideal, but I long abandoned that idea when I was her age and have disconnected myself emotional from them because they're not great influences. Here are the numbers: I attend university, however due to my high academic standing in highschool I am in fact getting paid to go to school, ontop of OSAP. $0 Expense. I was planning on transferring to another university because they have a much more rigorous business program, and more bursaries, higher employment rate for corporate finance positions. However, tuition would be $30000 for third and fourth year should I transfer. I purchased a car $7300 in cash full. Insurance is around $3400 because I'm a new driver, but I am expecting those premiums to decrease after six months. The house is worth approximately $350000 with $100000 mortgage left on it. My sister and I are the beneficiaries of my mother's will and I am trying to get it probated. An average two bedroom apartment/house with washroom/kitchen would be ideal. Monthly Expenses include $250 for food (I am a varisty athlete so I go through alot of food, but my sister eats the same stuff anyway) $1000-1500 Rent/Housing $100 Clothing/Recreation Expense (My sister is planning on signing up for gymnastics that is $300 a year, I also am a member of University track& cross country) a $500 Car Insurance/Gas/Repair Account Revenues include ODSP (valid until December) $2100 Child Benefit money $500 Declaration of University Attendance Child pension $200 a month until I am 25 Retail Job $100-500 a month I have enlisted in the army as a Reserve with my CFAT, Physical, Medical and Interview completed pending on Ottawa's approval.$500 a month in December I am seeking a third stream of revenue that will earn me more. Other leverages are I have $5000 in my possession right now $6000 GIC for my sister to get braces in the future. Should I decide to live with my aunt in a 3 bedroom apartment she would definitely help me out. I consider myself to be a fairly well-rounded individual. I maintain an 85+ avg in university for business administration. Member of varsity track/cross country. Do multiple extra-curriculars work a part-time job and volunteer occasionally. I've been through so much shit because of various financial circumstances growing up which has given me a tough skin. I am Canadian (have applied to three social benefit programs already) however; any advice would be heavily appreciated on behalf of myself and my sister. Thank you for your time. TLDR; I want to move out with my little sister, could potentially have $200000 if I sell my house and I earn $2000 a month including benefits. [link] [comments]  |
| Is leasing a car a bad financial decision? Posted: 03 Nov 2018 05:32 PM PDT A bit about my situation: DINKs, 40yo (both of us), accountants, $120k HH income, $1200 rent, got about $250k stashed away with no debt to speak of. We rent an apartment and own a VW Jetta outright. We are considering leasing a car...I used to listen to a lot of Dave's Ramsey and so it has been drilled in my head not to lease. But I stopped listening to Dave a year or so ago. There were some things I didn't see doing for the rest of my life (saving all this money when we have no family members to pass it on to, owning a house when I hate being tied down to any one place and lost some money selling 2 homes because I get bored of them). We have the cash flow to lease a car. It might not make sense in the long run but I figure as long as we are putting some money away, can make the rent, and stay in the position we are in we'd be okay. But if we are only taking about a few thousand dollars, is it really that bad of a financial move? Is there some value to having a car lease...the same type of flexibility with renting over owning housing? [link] [comments]  |
| Posted: 03 Nov 2018 06:41 PM PDT I'm 22 and in college, and I have about $3500 in savings right now. What are some ways I could go about growing some of that money (im going to spend a decent chunk of it, but significantly under half, pretty soon) in the short/medium term? I'm not asking about saving for retirement, but rather growing the money for use in a couple years' time [link] [comments]  |
| Posted: 03 Nov 2018 03:24 PM PDT I'm a graduate student currently on an F1 visa in the US. I know that I'm not really meant to earn extra income beyond my college stipend, but how does this apply to winnings from gambling (casinos or online)? For example, I won about $300 from Global Poker (online poker site). Am I okay to receive my winnings as a direct deposit to my bank account? [link] [comments]  |
| Posted: 03 Nov 2018 08:27 PM PDT |
| Does the 3x salary rule for a new home change based on taxes? Posted: 03 Nov 2018 06:44 PM PDT We're considering buying a 618k home with a 218k down, so new loan of 400k. We gross 250k+20k bonus annually. So this fits the 3x guideline. The issue is the taxes for this home are nearly 4% of the value, over $1600 added to the monthly payment making my outlay almost 4k/mo. Do I need to adjust the 3x multiplier for taxes? I am trying to gauge this via every available metric. Some of the online "what can I afford" calculators are nuts saying we could buy a million dollar home, there's no way. I put 10% of my salary into a few retirement accounts and we put $1400 into a savings account per month, so net income after that and taxes is about 12k/mo. Dave Ramsey uses the figure 25% of net monthly income for house payment, which makes this 618k home affordable only if I stop saving and knock back my retirement contribution which is just silly. I've looked at our finances subjectively (categorized all of 2018 finances in ynab) and it's gonna be tight but doable with lifestyle adjustments. I think. So I am trying to combine this subjective assessment with all of the objective affordability calculators, which are giving me totally different result which is causing some real anxiety! :) Thanks for your help! [link] [comments]  |
| Can medical marijuana be an hsa qualified medical expense? Posted: 03 Nov 2018 03:40 PM PDT |
| Posted: 03 Nov 2018 05:46 AM PDT Hey all, Just looking in my account and I see an unexpected "Tax Refund" of 3662.10. I will call the bank later to see if they know where it came from but just checking in with you folks to see if this is some sort of common scam or something. Obviously I will not be spending the money. Update - I was able to log into the CRA agency website in my account that shows historical Tax refunds. It has a note that my 2017 refund has been reassessed and this number is credited. I will still call on Monday to clear this up. I do recall having a fairly lower return this year. I typically get paid about 3500 bi weekly but sometimes it goes as high as 10k if I'm working on a remote job so this causes me to pay large amounts of tax sporadically. [link] [comments]  |
| Posted: 03 Nov 2018 04:56 PM PDT Hey guys I'm worried there has been fraud and someone cashed out my 401k. I just got a statement in the mail on Friday that shows all my holdings being sold off. When I log into the Wells Fargo account online it says it has a balance of 4 dollars. All the support numbers are closed until Monday so I'm slowly stewing here wondering if someone stole my life savings. Any advice on how to proceed best on Monday? [link] [comments]  |
| Posted: 03 Nov 2018 07:40 PM PDT Is it bad on your credit to open multiple secure cards at the same time. Reason I'm wanting to do this is to repair my credit. Just wonder is it better to open two $250 cards than one $500 card. So it while reflect two lenders on your report. [link] [comments]  |
| Received a medical bill for a test performed 7 years ago Posted: 03 Nov 2018 12:38 PM PDT Today, I received a bill from a hospital for a blood test performed in August 2011. This is the first notice of this bill that I've ever received. My name is not the same (got married), my address is not the same, and the only reason I even know this bill exists is because it came to my parents' house and they told me. I was a minor when the procedure was performed (17 years old) if that matters. Am I actually obligated to pay this bill? Is there a statute of limitations on medical bills? If relevant, the procedure was performed in NY, and I lived in Louisiana at the time. Thanks for any advice! [link] [comments]  |
| Question about offer from potential employer - are they screwing me? Posted: 03 Nov 2018 02:18 PM PDT Hey all! I'll cut right to the chase.. Background: I'm conflicted at my current employer. I have been considering leaving. The facts are that I'm not really at any risk of losing my job, I just have felt defeated lately, but, the job offers me great flexibility to travel (I see my son every other weekend in another state, it's common that I work remote 5-6 days a month to accommodate), I'm paid well, and generally I have lots of freedom. Anyways, I have interviewed around and gotten an offer as follows:
However, this is the end of the year so I told the potential employer the following:
They responded back suggesting the following:
I'm unsure if I've been lucky previously, but, this strikes me as.. odd. I've had companies offer signing bonuses in lieu of me losing out on a fast approaching bonus I would be leaving behind, and, it's not a trivial amount. $19,000 is a lot of cash.. even after tax it's maybe 13k. I'm also rubbed by the idea of starting red for vacations I had previously booked prior to employment. Am i misguided here and expecting to much, or is this odd? [link] [comments]  |
| Posted: 03 Nov 2018 03:08 PM PDT As the title say, I had to be rushed into ER this morning after I was not able to feel or move the right side of my face. I did not have any health insurance when I was rushed into ER, on my way to ER, I purchased a ISO (student health insurance) after my roommates suggestion. However, the insurance won't start until tomorrow, November 4th 2018. My University offer accident insurance, but only if the accident was taken place on campus property, but in my case it wasn't a accident either. I do not have any fund to pay for my diagnosis. So what are my options? Would I have to pay for everything (which I'm not capable of at my current situation), do I get sent back to my home country if I don't pay? Will my new insurance company pay for my medical bills even if I was treated a day before my visit to ER? [link] [comments]  |
| Posted: 03 Nov 2018 02:57 PM PDT So about 8 months ago, I closed my credit card and my checking accounts with Bank of America. I called over the phone multiple times, transferring money from my checking account to my credit card so I could close the credit card with a 0 balance, then close the checking account thereafter. I'm told it's done, everything is set, and I don't hear from them after that. Last month, I go to buy a house, and my formerly pristine credit is in shambles. It turns out that whoever closed my account at BofA did it wrong, and somehow closed my account without resolving the balance. I never received anything in the mail because my account was closed. So they've been reporting me as delinquent each month without notifying me, and have now recorded it as a charge off, which is devastating to my credit. I called Bank of America and the person on the phone said that someone closed my account incorrectly, but I can't resolve this til Monday because, of course, the only department that can help is only available during business hours Monday-Friday. I'm going to call Monday to resolve this, but I want to double check that I'm doing everything I need to do to fix my credit. Again, this was an administrative error on Bank of America's part, not mine. So I plan to call Monday and explain, insist that the information on my account be corrected, and insist that I receive a written document from Bank of America stating that this was an administrative error on their part, so I can submit that to credit reporting agencies as part of disputing the negative mark on my credit. Unfortunately, I can only call the department over the phone, and they can't help me in person at the bank. So I'm also considering going in person, post-resolution over the phone, to demand something in writing then and there rather than wait for it in the mail, because I have no faith in Bank of America following through. Will that work to get this removed from my credit? Do I need to do something more? [link] [comments]  |
| Job has been paying me $0.25 less than everyone, should I ask for a payback? Posted: 03 Nov 2018 08:14 PM PDT I started working for this company in summer and on their ad, it said $10.25 per hour. Last week, I found out that these two new employees of the same job function and level are making $10.50. I asked around the other equal leveled employees and they all make $10.50. I already spoke to my manager and she said she would talk to HR about it. This was last week and payday was yesterday and it was still $10.25 per hour. I understand it may take some time to go through but should I ask for the missing money? After doing the math, I am missing around $80. Is this being annoying? [link] [comments]  |
| Both my parents are dead and we are losing the house. What do I do? Posted: 03 Nov 2018 07:46 PM PDT I am a 22F. My dad passed away two weeks ago while our house was on the market. It was just him and I who were living there. My mom passed 10 years ago from cancer as we were moving in. He owed a lot of money on the house which is why he put it on the market. Right now there is an offer for $435k, which would leave my brother and I with about $2k each after paying the realtor and paying off all his loans. Besides that, I really don't have any money. I took a leave of absence from work in the beginning of October so I could be a caregiver to my dad. I applied for a paid in-home position but he passed by the time I got approved. Right now my brother is taking the semester off Berkeley to help me sell all the furniture in the house. That will likely be our biggest source of income from all of this. I live in California and after looking at rooms for rent nearby, I can't even afford a $400/mo room which is the cheapest I could find. I have a friend in Oregon who's living with her mom and they want me to move in with them until I'm able to live on my own. In the meantime, I'm also applying for a dependency override for my college's financial aid. I'm really grateful for my friend and her mom but I was wondering if there are any programs or anything to help out someone in this kind of situation? I would ideally like to stay in California, especially close to Sacramento where I am currently. I know I can't be picky right now, though. Any advice would be greatly appreciated, thank you so much! [link] [comments]  |
| What is a good bank for college students? Posted: 03 Nov 2018 07:38 PM PDT I was looking for a checking's account where i don't have to pay any fees or anything. Im new at this whole banking thing so any advice would be helpful. Thanks! [link] [comments]  |
| Posted: 03 Nov 2018 02:26 PM PDT I am a mother of a 3 year old and I lost my insurance from my previous employer than went bankrupt. So im applying for Medicaid for me and my son. I currently live with my boyfriend (Childs father) and my boyfriends dad. Now its asking about household income. We each pay his dad $100 a month for rent. I buy my own groceries and my sons. I oay my phone, car, car insurance ect. Ect. We are not married and I claim my son every year on my taxes. Do I include my boyfriends even if we aren't married? And his dads since we live with him? Please help im stressing out. We are in ohio [link] [comments]  |
| Posted: 03 Nov 2018 09:51 AM PDT Title pretty much says it all. None of my property was damaged but my city experienced significant flooding and the governor declared a state of emergency and I believe the area received federal funds for it. Anyway, credit karma says that my score has risen by about 60 points and the only change on my credit report is a remark that says that I was "affected by a natural disaster". Did I really just get a free credit score bump just for living in a disaster area? [link] [comments]  |
| Posted: 03 Nov 2018 06:58 PM PDT I currently make 90k working at a large multinational corporation as a software developer. The job is unfulfilling and I spend a lot of time doing a lot of support related work instead of development. I also work with older technology and am not really learning much. I am also the only developer on this project. I have no support here and don't get to interact much with other developers let alone anyone. I've been fed up with it for quite a while, but I've stayed for over a year because the pay and benefits are fantastic. I recently got an offer for a new position and ended up signing, but I am stressing if I made a good decision. New job is paying 100k. (although new job is biweekly pay vs semi monthly at my current place, so checks will probably be similar to what I have now, so psychologically might not feel like I got a raise.) New job only has 3 weeks PTO vs 4 weeks at current job. New job has 3% 401k match with immediate vesting. Current job has 5% 401k match after 1 year, but vests after 3 years. New job has less holidays. Current job gives me a lot of freedom and I work from home 2 times a week. New job doesn't allow work from home. New job will allow me to work with an actual team, doing real development, allowing me to grow as a developer. New job seems to give annual raises. Current job doesn't give raises, just big bonuses. I'm thinking that long term the new job would be better from a financial standpoint as well as possibly oppening doors for me. At the same time, I've grown comfortable at my current job and it's very difficult giving up the freedom even though I am unfulfilled with the work. I kind of feel like I'm giving up benefits, for slightly more pay. But perhaps better career trajectory. Advice appreciated. [link] [comments]  |
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