Personal Finance 50K in Debt - Accepted an offer at a higher paying job but Failed background test due to Bad Credit - Now Unemployed and Scared of the Future. |
- 50K in Debt - Accepted an offer at a higher paying job but Failed background test due to Bad Credit - Now Unemployed and Scared of the Future.
- Is this a fake letter or am I actually being audited?
- Best podcast for learning about finances?
- I invested $5500 in my traditional IRA for 2018, and I just learned my income makes me ineligible for a tax deduction. Where do I go from here?
- Ally bank account was hacked, not sure what to do. Please help!
- Do my parents have any right to my tax refund?
- Not trusting Buyers Agent (realtors) price assessments
- I make pretty good money but feel poor all the time due to bad habits, out-of-control expenses, and obligations to my family. Any advice/perspective would be greatly appreciated.
- Recently financed a car and the "hard pull" credit score was quite different than any score I've seen?!
- how to figure out who I owe money too on my credit report
- Managed to remove collections what next?
- Is afterpay a good service or should I stay away from it?
- Torn between two apartments and looking for advice
- got rid of almost all my credit cards today
- Simple green home services
- Feel doomed
- Boss lost my paycheck and I don't have enough money to pay for gas
- Funding 2018 ROTH IRA after tax returns completed
- Paying off a debt thats been charged off, who do i contact?
- Here is what I have learned tracking on net-worth on a monthly basis for the past 13 months.
- (UK) Is private equity and real estate funds a sensible choice when deciding on pension funds?
- Retroactive Sales Tax
| Posted: 02 Mar 2019 01:54 PM PST Please help me, this subreddit has always given me hope that it is possible to rebuild but I don't know what to do anymore. I ask that you please provide sound advice to get through this and not scold me for my mistakes; I've had a couple nervous breakdowns this week. I left a job that offered me a promotion (to avoid burning bridges) because the company I interviewed with extended me an offer. The difference in pay between the two companies was roughly 30K and the role was a step in the right direction for me career-wise. I never thought my bad credit would get in the way of getting me a job and grossly assumed that because I don't have a criminal record that I would move forward. Long story short I hit a rough patch early in 2018 and wasnt able to pay my credit cards (they went to collections). I'm 30K in the hole in CC debt and 20K in student loans. Even though I knew this was ruining my credit I figured if I worked hard, pay for the essentials to live (rent,food, car insurance,utilities, medical bills) and land high paying job that I would be able to get back on track. I finally landed that job, accepted the offer only to be told a few weeks later that because of my credit history they would not move forward with me. This broke me. Not only did I leave a job that offered me a promotion but now I no longer have an income. I've already asked for my job back but have been told their isnt a spot for me there anymore. I've been aggressively applying to other jobs in hopes of finding something fast but also terrified that I will run into the same issue again. I have 4k left for me to survive. I started consulting again with a company I used to work with in the past (25 hourly) to earn some kind of income; the problem is that its only a few hours a week. I don't know what to do, and I'm getting desperate. [link] [comments]  |
| Is this a fake letter or am I actually being audited? Posted: 02 Mar 2019 05:30 AM PST I just received a letter of inquiry in the mail from my "state treasury department" saying a state tax return has been filed under my name and address (it has) and this tax return and/or homestead property tax credit (don't think I received that one) has been selected for review, and it says I have to confirm my identity by either going to the government website or by sending in copies of my driver's license, W-2s, 1099s, etc in order to help protect taxpayers and the state from identity theft. Seems legit to me I think but - thoughts? I was wondering why it was taking so long for me to receive my state return so it makes sense now I guess Edit: thanks everybody! I am going to call the number on the state website (NOT the one from the letter) when they open on Monday. [link] [comments]  |
| Best podcast for learning about finances? Posted: 02 Mar 2019 01:45 PM PST I've always been interested in finances and economics in general. I just watched the big short and I'm interested in learning more about such events and economy in general. What podcasts do you recommend? [link] [comments]  |
| Posted: 02 Mar 2019 08:12 AM PST I have a traditional IRA through Vanguard with ~$15K, and my wife has a Roth IRA through Vanguard with ~$15K. We have been depositing the $5,500 max every year. We also have 401ks through our employers that we max out every year. We're both working now, and H&R block just told me that my MAGI makes us ineligible to deduct deposits into my traditional IRA. So my questions are:
Bonus: H&R Block asked a bunch of questions about my traditional IRA that I don't at all understand--can anyone help me figure out how to answer?
I expect I'll be able to answer this once y'all help me figure out the answer to my original post
I think the answer to this is $0. [link] [comments]  |
| Ally bank account was hacked, not sure what to do. Please help! Posted: 02 Mar 2019 08:34 AM PST I woke up this morning to several emails from Ally saying that my user name and password was changed as well as my telephone pin and contact info. Now I can't access my account on the phone or computer. I am panicking right now and I have no idea what to do. I changed my user names and passwords on all my other accounts, but that's it. I have been on hold with Ally's fraud line for 45 minutes now and still holding. I am pretty sure all my money in my account was transferred out. If I am able to get a hold of Ally, will I be able to recover the stolen funds from my account??? I had 2 checking and 2 savings with them. Please help and advise, thank you. UPDATE: So the person who got into my account moved some money around and tried to zelle pay someone named Jerome Copeland, who I looked up is an NFL player... So probably a fake account. Either way, there was no loss on my end for money since Ally caught suspicion of it and locked my account before they could do anything. Ally helped me with fixing my account, but this is still a hassle and scary, as I now fear for my other accounts at other establishments. If this person got into my account, do they also have access to my email? And if so, would simply changing my email password lock them out of it? So far my other accounts are fine, however I haven't yet checked my credit report to see if any accounts were created under my name. [link] [comments]  |
| Do my parents have any right to my tax refund? Posted: 02 Mar 2019 01:35 PM PST As of right now, my taxes i will be getting back will be around 2500 federal and around 308 for Indiana state. I claimed my mom and my little sister as my dependents since they do not generate any income and live with me full time. My mom said that without me claiming them as dependents, i would've only gotten around 600 dollars back fully from both. My mom states that since i'm getting around 2500 for taxes, and because i claimed them as my dependents, she should get half, and i should get half, even though she doesn't work and has been unemployed for years. Her reason for unemployment is she is trying to get disability for her mental issues, but because of that, she cant get a job, otherwise her case would go through the window. She is saying that the 1000 dollars would go to pay our house mortgage that my grandma is paying right now. The money is going to an account that we both own, because i am only 17 until May. Could she just legally take half or all of my refund because it's going into our account? Or does the IRS have something that only I could take THAT money out? [link] [comments]  |
| Not trusting Buyers Agent (realtors) price assessments Posted: 02 Mar 2019 04:26 PM PST Hi everyone, Hoping if people can give me advice on how to handle a situation. My husband and I have a realtor who is very receptive and shows us lots of options however everything we see a house it seems to be grossly overpriced and she only admits to a house being over priced after we say we don't like the house. She always says "this is a beauty" and "what a deal" until we say its a no go and then she will say "yeah its not worth this much" and even told us a house she showed us listed at 190,000 was really only worth 150,000 tops. So now of course we have a house we like that is listed at 227,000 but I think I could offer 218,000. She says that the comps are 250-270,000 which is crazy for the area (been looking at housing listings daily for the past 3 years). Plus she keeps putting that "if you offer low you'll lose the house" pressure on. I don't know why but I have a feeling she wants us to buy high so that her commission from the sale (seller paying of course) is higher. How do I verify that this is happening or am I just crazy? We like how responsive she is and her house selections are getting better from our feedback but I just have a bad feeling I cant trust her pricing. If its really happening do I call her out on it or should I cut loses and find a new agent? [link] [comments]  |
| Posted: 02 Mar 2019 02:28 PM PST tl;dr I know I'm dumb with my money, looking for advice/suggestions/criticism, feel free to tear me apart. Thank you for reading. Sorry if I'm all over the place. I grew up in a very financially illiterate household, my parents always had loans/things in the pawn shop and I just kind of accepted it would be a fact of life for me to be in a lot of debt all the time growing up. Fortunately I am making pretty good money now out on my own, but I fear the bad habits I've picked up and reinforced have trapped me into a cycle I can't break out of. Everything is just so expensive, and I live paycheck to paycheck. My younger siblings both make less than I do, my mom has severe bipolar disorder which keeps her from working, and I fear after my dad stops working (he is in his 50s in a very physically demanding job) I'll have to help support my parents full-time. I already help them when he is home from working overseas and there is no money coming in - paying the mortgage, lending them some money which they may or may not pay back, etc. Sometimes I think I'm about to turn a corner and start to get ahead to where I can leave behind the paycheck-to-paycheck lifestyle but then something will happen like a big vet bill or needing to make my parents' mortgage payment which either drains my non-rent paycheck or forces me to take out yet another payday loan if my rent paycheck is affected. It's really embarrassing re-reading all of this as I type it out and I'm ashamed to realize I've never made a budget before or tracked my expenses individually. Just know that I know this is unsustainable/unfeasible and will do my best to hear out any suggestions/criticisms with an open mind. Thank you all. Info/assets
Outstanding Debts
Recurring Monthly Expenses
Planned/desired big expenses this year, ordered by priority
EDIT: I wanted to list out the steps I'm going to take beginning this week so I can build an actionable plan I can track my progress against. I'm going to:
This should save me at least $950/month, which along with my raise will put me well into the black. This money will only either be used to pay off my short-term debts or go into my savings account. By September 1st I will have:
[link] [comments]  |
| Posted: 02 Mar 2019 04:54 AM PST I recently financed a car and I regularly check my FICO credit score through all the various services available (banks, credit cards,etc.) and also through a service called PrivacyAssist from BofA that gives me a quarterly full credit report and FICO score from all 3 agencies. In any case, my score is usually between 810-820 all the time. However when closing the deal on the car the business manager handed me my credit report and the score was 858! At first I honestly questioned if she had run the right report but she validated it and said the scores you get when you do a hard pull vs a soft pull are different. So my question is what is the point of seeing your score (I assume via soft pulls) if it's going to be off so much from what the hard pull score is which is what creditors will actually use to determine rates, eligibility?? [link] [comments]  |
| how to figure out who I owe money too on my credit report Posted: 02 Mar 2019 07:20 PM PST So I just got a notification from mint saying I owe someone $200 with the name harris. I have no clue who that is or who that even could be. What do I do to find a number or some kind of contact information so I can figure this out and get everything resolved. thank you in advance. [link] [comments]  |
| Managed to remove collections what next? Posted: 02 Mar 2019 04:32 PM PST Im looking for advice with my credit report. My credit report good last year and went down to fair this year because of two bills that went to collections.I was struggling with making ends meet and the kids needs came first I'm a single dad with shared custody of three kids. Those two collections hurt my credit report which was standing at 635 or so, i just wanted to point out it was ok at point with 721 and now down to 510. I read some articles online and lurked here for a bit. I sent a letter to Equifax and Transunion disputing these charges. I sent to both CA asking them to validate the debt. One sent me an email and the other didn't respond. I sent another letter to the one that sent me the email, this time I sent a letter to delete. Yesterday my credit report jumped almost a hundred points. I checked Equifax and it shows 0 collections I even disputed two other old collections 4 in total. Im looking for advice for the next step. Do I call the CA and pay the debt off assuming that they likely won't post the debt again because they have their money? [link] [comments]  |
| Is afterpay a good service or should I stay away from it? Posted: 02 Mar 2019 06:43 PM PST I want to get some shoes online. I can pay for them, but with getting a paycheck every other week it would be easy to do afterpay. Afterpay says that you pay in 4 installments. The payments are interest and fee free if you pay on time, which is every two weeks. Is this a bad idea? Just be easier to pay in payments so i don't spend it all at once. [link] [comments]  |
| Torn between two apartments and looking for advice Posted: 02 Mar 2019 04:33 PM PST I'm apartment hunting in a new city for work. One apartment is 4 minutes from work so super close, and about $1650 in rent including garage parking (cold climate so this is a must have). However there's not much going on in this area, mostly commercial and residential. I can also see work from the window so not much separation from work and personal. The other is $1720 +$135 for garage parking (was going to try to negotiate for them to include parking). Commute is about 15-25 minutes depending on traffic. This apartment has better common areas and is in a nice area with much more things to do around it. I also like the vibe of this place a little more. My salary will be $85,000 and I was thinking about purchasing a new car later this year. I don't have any debt. I'm looking for some advice as this is my first time truly being on my own. Edit: forgot to add I have about 20k in savings [link] [comments]  |
| got rid of almost all my credit cards today Posted: 02 Mar 2019 07:39 PM PST Seems like lately all i do in my free time is go online to check my if my credit card bills are due. I make a point of paying them off each billing cycle. However yesterday I took a step back and counted all my cards and discovered I had 25. Way too many. So I went through the process of closing all my credit cards except 2. Now it will take less time to look at the bills and I can just schedule an online payment for the two cards. Part of the reason why I had so many is I was taking advantage of the deals like this that say spend "$4500 we'll give you $500". My best deal was the Disney card where it said spend $500, we'll give you $200. But I am putting all this behind me. I can get 2.7% in the bank and I really don't need to buy all that stuff. [link] [comments]  |
| Posted: 02 Mar 2019 05:11 PM PST Hey guys. 2016 I bought a furnace from simply green services in Canada. The sales rep said it was 7000$ furnace and I can payout anytime. So this year I decided I would inquire how much to pay out (thinking 3000-4000$ left). They sent a bill of 10800$ to buy out of the contract. I called the company and asked them to send me the documents and forms we signed, the contract we signed and the sales agreement (since I didn't have a contract that I signed from them with my paperwork). I realize we didn't do our due diligence because we were young and new home buyers and were scared because they said our furnace was old and could stop working anytime soon. We live where it's VERY very cold so this information was scary for us. They said the furnace is a rental for 120 months until paid off. 100$/month. I asked if we could cancel the contract/rental. They said no and that it was monthly billing or buy out only. Has anyone dealt with this company or have any advice or information to help? I don't need lectures on what to avoid for next time, I realize what we did wrong. Just looking for some advice on the steps we should take and if anyone has dealt with this company? [link] [comments]  |
| Posted: 02 Mar 2019 05:01 PM PST I'm a 20 year old cc student about to get my associates in behavioral science and just basic science. I have a plan to go into health administration but I'm not sure if it is a good path. I live with my friend and rent a room at $350 a month which would be a blessing, but I'm a part time student worker and most of my check goes to rent and bills. My job ends in June and I've been applying like crazy but no one has called back. I also need to get a car by July so I can even have a more stable job but I can barely save up. My parents are both financially unstable which is part of why I moved out in the first place. I honestly have no idea what my next step is and any advice would be appreciated. [link] [comments]  |
| Boss lost my paycheck and I don't have enough money to pay for gas Posted: 02 Mar 2019 04:55 PM PST I work in sales. Recently I was transferred stores where I would make a lot more money and since the payroll was changed I had to go to the new store on payday to pick up my check. Before I could walk to my house and to work within 5 minutes but now I take a 40 minute drive to work. It's a part-time job as I'm doing school as well so the pay is never big and I live paycheck to paycheck because of that. Tomorrow is my first day of work working at the new location. I knew I needed gas because I'm used to walking everywhere and my car was empty because I never filled it up because I never had to (I know bad planning) and I called on Thursday to see if they had received my paycheck. They told me it was all fine in the safe and I could come by on Friday (Payday) to pick it up. I took the long ass drive and sat in traffic wasting the rest of my gas as the round trip was 34 miles and the traffic did not help my mileage. I had got there, talking with my new boss for a bit and she informed me that they never actually got my check and had no idea where it was. wtf.jpg what do you mean you literally told me you had it man I need that We called everyone we could to try and figure out. Maybe it's finally a good opportunity because I always got checks despite having my DD set up yet it never went to my bank. They're still asking me to come in tomorrow. I really don't have the extra cash right now to spend on a shit ton of gas but if I need to I can. Should I call and tell them my situation. it's honestly not that big of a deal but I really don't feel like working and driving to just not even receive my pay 3 days late. Any help? [link] [comments]  |
| Funding 2018 ROTH IRA after tax returns completed Posted: 02 Mar 2019 08:32 AM PST Hi PF, I've already completed my 2018 tax return but then realized I didn't max out my ROTH IRA. I still have until April 15th to get to the $5,500 limit (for 2018). Are there any tax related issues I might have to deal with since I already completed my 2018 tax return? Apologies if this is a dumb question. I'm in my mid 30s and just now learning that there is much more to retirement then just contributing to your 401K and take advantage of the employee match. [link] [comments]  |
| Paying off a debt thats been charged off, who do i contact? Posted: 02 Mar 2019 07:03 PM PST I owe about $3500 to a big bank for cc debt from a few years ago. They sent me a summons, telling me they're suing me. If it was charged off, doesn't that mean I owe a collection agency? How do I create a situation that doesn't mean I have to go to court? What/ how do I respond to this? The county the summons was sent to is my parents, where I don't live anymore. Going to court would be a giant pain in the ass because I'm in school full time and only getting FAFSA money to pay bills. I don't own a house, my vehicle is worth $1000. I have zero income or assets. Help! What do I do? [link] [comments]  |
| Here is what I have learned tracking on net-worth on a monthly basis for the past 13 months. Posted: 02 Mar 2019 08:05 AM PST I have been tracking my net-worth for on a monthly basis for the past thirteen, and I have learned a lot through out the process. With hindsight, almost everything that I learned was obvious, but it was only apparent after I tracking my net-worth. Here is what I have learned
Edit: Fixed Formatting [link] [comments]  |
| (UK) Is private equity and real estate funds a sensible choice when deciding on pension funds? Posted: 02 Mar 2019 06:58 PM PST My Father (who's probably about 15 years away from retirement and has about £550,000 in a Legal and General pension) has asked me to help him edit his Legal and general pension fund. I haven't got any direct education or experience in financial advising, but my dad seems to think I too think I'm an expert because i'm currently studying Economics at University. I'm definitely not! However I have come to the conclusion, based on my (relatively limited )economics knowledge and my understanding of Macroeconomics that a UK Private Equity and UK real estate funds may be promising. (I HAVE TOLD HIM THIS IS JUST GENERAL ADVICE AND SHOULD DISCUSS THIS WITH A REAL FINANCIAL ADVISOR BEFORE DOING ANYTHING WITH MY ADVICE) My thinking process: In the next 2-6 years brexit may drive out some international firms operating in the UK (or reduce expansion) due to falling investor/business confidence in the UK economy. This reduction in the amount of firms in the market will allow smaller domestic firms (types of firms in a private equity fund) to grow from the absence of larger multinational companies. Eg: Honda closing down its UK factories, even before the UK has actually left the EU and my hypothesis is this will start to become more commonplace. Additionally, the assumption I have made when choosing UK PE & RE is: 1) UK economy takes a substantial hit from brexit and the pounds drops like a rock. If this were to happen imports from all countries would be more expensive (on top of the common external tariff of the EU). This will create a scenario that can produce a J curve on the UK current account. Where because of the higher import prices it will make the Domestic consumers switch their expenditure to domestic products and away from expensive imported goods and services. 2) The UK economy will recover from the economic crisis caused by brexit. Therefore the domestic firms the PE fund invests in will, in the long run grow. Additionally you can invest in the UK real estate market when the UK economy does start to bounce back from the recession (essentially buying real estate at rock bottom, and holding it until the economy does bounce back). So based on my advice would to invest in UK private equity & UK real estate AFTER a couple years after article 50 has been triggered and actually seeing foreign firms exiting the UK economy. If and when this comes true, and seeing data to back up small domestic UK firms growing you can invest in PE and maybe Real Estate a few years later. This is my general reasoning behind investing in UK private equity and real estate, in the aim to take advantage of brexit. But I've told my Father my advice is just to give you a general pointer of where I think the market may go and he should bring up this topic with a real financial advisor who holds a CFA. Is my theory sensible or BS? [link] [comments]  |
| Posted: 02 Mar 2019 02:52 PM PST Hello personal finance, long time lurker, first time poster. Question for you all; several months ago in 2018, a family member of mine purchased something in New York state and paid the bill in total at that time. However, this item wasn't available to ship when purchased and just now has become available. When discussing shipping details, the merchant informed my family member that the NYS sales tax rate had changed for 2019 and that they would be charging this additional sales tax to his credit card. When my cousin told me this, I thought it sounded a little weird. Wouldn't sales tax be assessed at the time of sale in 2018? Or is the time of shipment considered the time of sale? The merchant got extremely annoyed when my cousin pressed her on this and got the accounting staff on the phone to insist. Any help is appreciated, thanks! [link] [comments]  |
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