Personal Finance Tax Thursday Thread for the week of March 28, 2019 |
- Tax Thursday Thread for the week of March 28, 2019
- Wife had yearly review today. Instead of a higher wage, they converted everyone from hourly to salary, but her overall salary reduced by 14k per year.
- I bought too much car. What are my options?
- I'm 35, made a lot of poor decisions in my 20s and now I'm financially ruined... but I have a great job and want to get out of this hole more than anything. [LONG]
- Married couple doing medical school with almost $800,000 combined in debt
- Four friends going in together on a rental property. What could go wrong, eh?
- Is Credit Karma legitimate?
- Just received a hospital bill for $50000, what do I do?
- How to ensure Craiglist apartment ads aren't scams?
- Borrow vs Student Loan Forbearance (need $20G)
- [PA] [USA] New Parents, which 529 should we choose?
- Payment plan for a vet visit from over 1 year ago went to collections. I had thought my name wasn’t on this. Only my now ex’s. Advice please.
- Closing on house next month need to know how to do title with fiance
- I’m really young and I just checked my credit score for the first time. There is an open balance of $188 that I don’t recognize at all.
- Remember to review your monthly subscriptions once in a while.
- What's the best way for me to allocate a $10k bonus check?
- Hello everyone, I know that a general rule of thumb is to try not to cancel older credit cards but this card has not been relevant in my life for a while.
- Changing Jobs, Need Advice About Health Insurance
- Investing in bond funds for the short-term
- Hoping someone can help me out of this mess. Bankruptcy is on the table.
- Job offer - Lower salary than I asked for, but includes yearly bonus. Do I counter?
- Can I use money from an equity loan for a larger down payment tp buy another house?
- Should I pursue a full time job in my situation?
- My mother is 59 and was scammed out of her life savings/house
- Balance transfer question
| Tax Thursday Thread for the week of March 28, 2019 Posted: 28 Mar 2019 04:07 AM PDT Please read the PF tax wiki page to see if your question is answered there before posting.This weekly cross-sub thread will be posted through mid-April to give subscribers a chance to ask basic tax-related questions in a consolidated thread. We are also very lucky to have some folks from /r/accounting and /r/tax joining us here to help out. Since taxes can be a very complex topic, the main goal is to point people in the right direction, provide helpful information, and answer questions. (Please note that there is no protection under §7525 or attorney-client relationship when discussing matters in posts on a message board. Consult a reputable tax advisor in person if your situation demands it.) Make a top-level comment if you want to ask a tax-related question! If you have not received your answer within 24 hours, please feel free to start a discussion. For all of the Tax Thursday threads from this year, check out the Weekly Archive. [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 12:48 AM PDT Wife works for a very small start up company with 4 people, 2 owners and 2 employees. She is in design. Past year she was working at $35/hr full time with health benefits but no paid vacation. $35/hr is very fair for her skillset in design especially for los angeles. She was on wage, not salary. She worked some OT but not a whole lot. If you calculate the standard hourly to salary using 40 hours a week multiply 52, she would have earned $72,800. She is normally scheduled to work full time mon to fri 9-5. However last year we got married and had vacations here and there and she was compensated $55,000 total because of the unpaid vacations. This worked out well for her small company because she didnt get paid while being away. Today during her evaluation, they low balled and offered a salary of $54,000 with $3800 PTO/year. Health benefits are also included but it is the same as last year. The total compensation now is $57,800. They said this was calculated based on the number of hours worked last year (so they pretty much offered her 2018 W2). Employees are not going back to wage. I would assume an employer would calculate a salary offer based on potential full time hours, not how many hours one worked the year prior. If she had PTO last year or if she didnt go on the long honey moon then she would have received a higher salary offer. Now her starting salary is pretty much $27/hr so its a huge downgrade and now without OT. The owners said "well look we are giving you PTO now!" which would offset the low ball. She is valuable at her company— 70% of products sold are her designs. The other employee got a raise cause he was getting significantly less paid last year (due to no degree and no experience) in case you were wondering. Is this practice normal for an employer to use previous year's W2 to determine someones salary, especially if it works in their advantage? She will try to counter back with equity (since she started the company with them). During their meeting yesterday, they stated that employees' salary do not require 40hour work periods — only the projects need to be done. Because of that she wants to request working a maximum of 32 hours a week to offset the 14k a year reduction. Any advice? 1st Edit i shouldnt have wrote this long piece and gone to sleep. I will answer everyone when i get to a computer. Thanks for all your help. First thing, I need to recalculate her W2 because she definitely didn't take 3 months off which everyone is calculating. A big piece is missing here. I saw that in the last 17 paychecks she got paid 43k and i need to double check Second, she is very valuable to her team. Anyone is replaceable but She is more difficult to replace. she knows their vision, she came up with the company name, and all her designs are most of the ones being sold now, plus she designed the logo, all the packaging, website, EVERYTHING. Everything has been her idea. When she pointed out the products to me on their website, most of them were either made by her or she had some type of influence directing the other designer. She had some creative director responsibilities too. The reason why they are doing salary is because "it helps employees out" by more flexible scheduling (dont need to go in if work is all done). This is true. However they r low balling her because they are not making any money right now and simply cant afford her right now. (Its true they arent making money). She asked for equity at the first meeting yesterday and they said "thats probably not the best idea for YOU because we arent worth much." WTF! 2nd edit I am reading a lot of responses and they are all helpful but I can't respond to all of them. One thing to clarify is that i know for a fact she didn't take 12 weeks of vacation. thats ludicrous! They did shut down for 2 weeks or so during the holiday, and she didnt get paid for it. She also doesnt get paid for holidays (like during thanksgiving and such). We took a MAX of 3-4 weeks of vacation last year, not 12. i am going to sit down with her tonight to get the math straight. [link] [comments]  | ||||||||||||||
| I bought too much car. What are my options? Posted: 28 Mar 2019 04:29 PM PDT Facts: 2016 Dodge Grand Caravan SXT 60,000 miles Original Loan length: 8 years Payment: $454/mo Interest rate: 3.49% I currently owe: $22,258 Expected payoff date: June 2024 KBB value: $11-14k Story Time: We bought this with the plans to grow our family. Financial situation changed and we decided not to expand. Starting to feel like this is a waste of cash. I asked my local dealer what my options are with them and they said there is nothing they can do unless I trade it in for another new car since it has an outstanding loan balance. He said this is because they can roll the remaining balance over to the new loan. But they can't do that if I wanted a pre owned car because rolling over a loan isn't allowed by law when purchasing a pre owned vehicle. Probably bullshit? So I'm wondering, what are my options to get out of my commitment without impacting my credit score? This monthly payment is killing me and freeing up half the payment would help. My plans are to purchase a used car (cash) for less than 10k but would it just be wiser to pay $10k on the loan and then trade in for something more economic? TIA [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 10:44 AM PDT I'll throw out some numbers first then give a story for those interested in how I got here. I'm going to be super transparent and these numbers are accurate as I can get from memory right now. I am seriously considering filing bankruptcy.I've never been good with money, my parents were terrible with it so I never learned anything from them and I made money from coding shit on computers. I thought life was easy: Write code, get paid, buy shit. I was an idiot and now I'm paying for it greatly. I'm probably still an idiot but I need help figuring out what I'm doing wrong and how I can do better. Income Web Developer Full Time Salary: $87,000 HRA: $4k Total: $91,000 Assets: ~$7k in a SUSORP I can't cash out, 2005 Toyota Tacoma that's paid off (and beat up cosmetically) Location: Florida Married with 2 kids (1 is 50/50 custody ex-wife) Wife is in school for medical billing and coding, no income After taxes my actual monthly income is right around Total Income: ~$6300/mth I try to freelance when I can but the pipeline is pretty empty lately. Also, I have to give 100% at my salaried job because it's an amazing job with big growth potential for me professionally. This makes it hard to hit freelance commitments. Expenses Rent: $1500/mth Child Support: $350/mth Health Insurance: $1280/mth - tax credit = $850/mth Car Insurance: $225/mth Power: $100-300/mth thanks to AC in summer time. Average is right around $200/mth Car: $400/mth Phones/Internet: $350/mth IRS Debt: $477/mth Water: $60/mth Child care: ~$120/mth for after school care Groceries: ~$600/mth+ Doc Visits & Prescriptions: ~$300/mth Gym: $30/mth Total: $5462 I probably forgot something, but that's close. Then there are the unforeseen things like I just got notice my daughter needs an eye exam, that will be $100 + any prescriptions, my wife goes to a study place, grocery shops, gym so there's gas usage. I work from home so no gas usage. My truck is in desperate need of an oil change and new back tires. My daughter is dying for piano lessons and this is the age where it could have a serious impact on her musical growth. Just seems to be more shit every month I have to figure out how to pay for with my remaining $850 after expenses. Whenever I get a little freelance money it goes straight to credit cards, but then those start getting used again and it always seems to stay around $6k. Debts Student Loans (will go back into default next month): $65,000 IRS: $21,000 but I make a monthly payment as listed above Credit Cards: $6000 Hospital: $11,000 (in collections) lost health insurance unexpectedly right before my wife gave birth. Various other collections debt: ~$15,000 Story Time So how did I get in this hole? Poor decisions. No one owes me shit and I need to figure out how to take care of my family for the long term, but I feel completely buried and lost. I got married when I was 20 thanks to a southern baptist upbringing that convinced me it was important to marry that first love. She joined the military for six years while I went to school and did freelance work. While stationed in NY I got a master's from Syracuse that put me $60k in student debt hell (its $65k now after I paid it down for 3 years then defaulted and fees/interest stacked up). I got a job offer in Florida right after graduation, moved down, bought a house (2009 market was bottomed out and got a steal) and had no real debt beyond the student loans which I was paying $750/mth on. Long story short, the marriage was doomed for a couple years and we tried counseling and all sorts of shit but it was just not meant to be so at the ripe age of 28 I asked her for a divorce. I'd also finally left religion for good. The divorce was bad, real bad. I asked if we could do a mutual agreement without a bunch of lawyer needs, I'd give her everything. The house, all my assets ($8k retirement) and pay her half my paycheck for 2 years. I did all that then when I thought the divorce was ready to be filed she hired a nasty lawyer that came after me for even more. By the end of the 2 year process I was divorced with defaulted student loans, massive CC and IRS debt and a monthly child support of $500/mth even though I tended to have my daughter more than 50% of the time it was 50/50 on paper. That's been reduced to $350/mth now. So after that I started making really dumb decisions, had a shitty job making $44k because I quit my high paying job to pursue a start up opportunity. An investor gave me a $180k budget for an idea I had. That ultimately failed and is where my IRS debt came from. My current wife and I met at that time and we'd become cocaine addicts. I never did it around my daughter, but when she was with her mom, my girlfriend (now wife) and I would binge every other weekend just blowing $$$ like a couple of dumbasses. We quit blow and haven't touched it in 4 years. I snapped out of my funk and spent every night for 2 years practicing and getting better at web development until I finally landed my dream job that I currently have. My life is absolute bliss beyond this huge financial mess. My kids are the best, I love them so freaking much. My wife is amazing, her and I went through some insane struggles with addiction together and it brought us very close. My wife, ex-wife and I have a very solid co-parenting relationship now and the kids have never been aware of any trouble. Our prescriptions are for ADHD, asthma and gout. We workout every day and stay in shape. My daughter is kicking ass in baseball and my son is ahead of the curve for 2 year olds with his potty training and speaking. Shit is awesome! I just get soooo soo down on life and feel like the biggest loser whenever a student debt or collections letter comes in the mail. Student Debt So this is where I've been trying to focus my energy. I got a call about a year ago from a dude that worked for a company that now had my student loans (or so I thought). I told them I could pay $50/month forever but that's all I could afford. He said that's fine and would get me out of default at least so I could build my credit back up and hopefully buy another house someday. It seemed to work, I got a letter about some loans being out of default and was super happy. Then I got another letter saying if I didn't start making payments my loans would go into default. That was about 2 months ago maybe. I took a day off work just to investigate and figure out what was going on and I barely know anything more. It appears I have 9 different loans now, I guess the big one got split up or something. I found one of the lenders websites and signed up and tried to get a payment plan based on income but didn't get very far. After the application it needed info from my wife that required her to sign up on some gov website. I was on probably 7 or 8 different sites that day making different accounts and I got so overwhelmed I never got anything really done. I don't know what to do anymore and I think I just need to file bankruptcy. I talked to a bankruptcy firm about 3 years ago and they said they could get my student loans on hold for a while then set a very small payment for a few years. And it would wipe out all my CC and misc collections debt. I just want to know that in 5 years I'll be able to buy my family a proper house. I'd like to know that when our current house gets sold or whatever reason we have to move, I can get a new rental. We had to have my mother in law co-sign on this one, you know how embarrassing that is for a 30 year old man? Can't even imagine being 35+ and having to ask her to do that again. Future The plan is my wife will finish her schooling this year and get a job. We know she could potentially reach $70k in a few years but will probably starting at half that. Will definitely be a HUGE help but if I were to start paying back student loans and collections right away it would be her entire paycheck... which is probably what we need to do. The biggest pieces of advice I could use is finding out if there's a person that can help me get my student loans tracked down and in order and possibly consolidated AND is bankruptcy the right option for me right now? I'm open to any and all advice though and I can take some heat, so feel free to tell me how shitty of a job I've done at life over the last decade. [link] [comments]  | ||||||||||||||
| Married couple doing medical school with almost $800,000 combined in debt Posted: 28 Mar 2019 11:43 AM PDT My wife and I are going to medical school together, and we will be coming out with just under $800,000 combined debt at 7% interest. We can both expect to be making at least $250,000/year when we're out, but we are not sure how best to deal with it. [link] [comments]  | ||||||||||||||
| Four friends going in together on a rental property. What could go wrong, eh? Posted: 28 Mar 2019 09:34 AM PDT I have a group of 4 very close (25+ years relationship) friends. One of them feels like he found a good investment / rental property. We are considering going in together to purchase it. The property is a 5-plex of 3/2 units of 2100sqft each. It is located in Colorado, in a good area right between the college and the town center (intentionally vague on location details). All 5 units are currently filled, and bring in about $10.5k monthly. The vacancy rate in the area is very low. The price is $1.5m. The friend who found the place feels that with a sufficient downpayment ($500k) the monthly rent taxes and management fees will be around $6k/mo. The friend who found the property is pretty savvy and has a nose for good investments. On the surface it seems like a good investment. The friend is currently getting the books for the place to confirm the financials. Said friend has done a similar deal (go in together with some friends) on land that was portioned and sold over time (developed I guess) that turned out well for all involved. My question is: how good or bad of an idea is mixing our money and friendship. I know that typically it is not recommended, but I also feel like we are a pretty tight knit group. What would be common pitfalls that I should look out for and avoid? Personally I like the idea of acquiring property as an investment. I currently have basically all my money in the market and I like the idea of diversifying into real estate. Edit: the purchase/management would be through an LLC we set up. [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 05:53 PM PDT Just wondering if it is trustworthy and if not, is there somewhere I can easily view my credit score? [link] [comments]  | ||||||||||||||
| Just received a hospital bill for $50000, what do I do? Posted: 28 Mar 2019 06:21 PM PDT Hi Reddit, In November 2018 I switched jobs and during the time that I left my job and the health insurance for my new job kicked in I had a blood clot in my lungs and just received a huge bill. My last day was on the 9th of November and started my new job the week after. I did have back surgery in October, and the blood clot happened a little more then a month after. Its horrible that it would have been cheaper to die. Please help. [link] [comments]  | ||||||||||||||
| How to ensure Craiglist apartment ads aren't scams? Posted: 28 Mar 2019 03:28 PM PDT I saw an apartment on Craigslist that was too good to be true. Reasonable price with all amenities in a nice part of town. It seemed legit because it was being rented by the owner of a condo (or so I assume...), and my last place was the same situation. Rare, but it happens. I asked to see the place and got the following response:
I don't know if I'm being overly cautious because of the writing style. I'd rather not sign any lease or give them any money before seeing the apartment, but also, what is to stop them from scamming me even after I see the apartment? At most places I just trust and it works out. This is ringing my alarm bells. Thank you in advance! Love this sub. [link] [comments]  | ||||||||||||||
| Borrow vs Student Loan Forbearance (need $20G) Posted: 28 Mar 2019 05:20 PM PDT I need $20G in ten months to fund my wedding. Am I better off borrowing or forbearing on my student loans? Background: Approx. $160G in student loans (med school is a bitch) Student loan rates vary between 4 and 6%. Monthly student loan payments are $2500. I can borrow against the car at 4.25% and pay it back over one to two years. I can borrow against my 401k at 6.5% and pay it back over one to two years. My mind warps when I look at these numbers. [link] [comments]  | ||||||||||||||
| [PA] [USA] New Parents, which 529 should we choose? Posted: 28 Mar 2019 04:46 PM PDT New parents, live in USA, PA.Which 529 should we choose? There are apparently 2 different ones the state offers, but are there other options which are better? [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 02:27 PM PDT Hey! So I'm really nervous and very confused. I know ultimately things can be sent to collections without a social security number, ie medical bills and vet bills, but this situation seems to be confusing me. If it's long, I'm sorry! While I was with my ex we "shared" a dog. He was really my ex's dog but I loved that little guy and I was considered his "step mom". He got very sick and to determine what exactly was going on he needed a lot of tests. Over three months we racked up a fairly large vet bill. Our vet has payment plans they handle in house. Interest free. We really got lucky with that. My ex had signed the payment plan forms using his account number and put his social security down. The payment plan was completely in his name. The dog passed away suddenly in the night one evening. We continued to pay the vet bill as a payment plan though. I contributed about half, less my ex would say "eh at least 50 to help", it was casual and I just wanted to help. Monthly payment was $140. 2 months after this we broke up. When I was moving out I mentioned the bill I was helping to pay and he shrugged it off saying not to worry about it. This way we didn't have to interact again. I knew at the time of move out the bill was still somewhere in the $2,000 range. Fast forward to now. I got a notification that $1,820 is in collections. It was from the vet. I didn't answer the debt collectors phone call but she was descriptive in the voicemail. This stunned me. I'm not sure how I was linked at all. But it did dawn on me, I had scheduled some appointments for the dog. They had my first name and last name, the address I had lived at with my ex, and my phone number. I never even used my own card when paying. I did call the vet to get any information I could though. They let me know it went delinquent April 2018. They also haven't been able to contact my ex since before then. My ex's number has been changed. I have since moved out of the state. I have no idea what to do or how to handle this. Am I being wrongly put into this? Can my ex assume this to be his financial burden? Can I be removed from this completely? Any help would greatly be appreciated. I thank you all in advance. [link] [comments]  | ||||||||||||||
| Closing on house next month need to know how to do title with fiance Posted: 28 Mar 2019 06:33 PM PDT Need any and all advice. My fiance and I are buying a house. He is the only one on the actual loan. My money is the down payment. I am being asked by realtor how we want to do the title since we both will be on the actual title of the house. Should we do a joint ownership or a split ownership? I do have a daughter and we have a child on the way. Not sure what other information is needed feel free to ask and I'll add more later. Thank you all for your time and input. [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 06:16 PM PDT I checked it on credit karma. I have 0 credit cards and my score was 613. I saw something that said I had an account that needed attention, and it is a balance of $188 from March of 2016. It was through "Kansas Counseling". I live in the KCMO area and work in Kansas over the summers, but I have no idea where this came from or what business it is. I'm sorry if I sound dumb, but I could really use some advice on what to do about this. I'm a college student. [link] [comments]  | ||||||||||||||
| Remember to review your monthly subscriptions once in a while. Posted: 28 Mar 2019 12:04 PM PDT I just went through all my monthly bills and subscriptions today and was able to save an extra $123/month by lowering bills and canceling unused subscriptions. Some of them I didn't even realize I still had. If you're looking to free some money up look in these places. Here's what I was able to free up. $25/month direct tv now- rarely used $25/month AT&T- switched to the lower unlimited plan $11/month AT&T- had insurance on a phone that was paid off. $32/month car insurance- reviewed my policy and was able to get additional discounts because of my employer and training course I took at work. $5/month- Spotify- my fiancé and I were both paying $10/month and upgraded to family account which was only $15/month. $25/month- internet- simply called and asked for a better offer lol Individually they don't seem like much but when you add them up $123/month is a good chunk of my budget! [link] [comments]  | ||||||||||||||
| What's the best way for me to allocate a $10k bonus check? Posted: 28 Mar 2019 05:58 PM PDT I am receiving a bonus check that will net me $10k. Here's my situation: I have $12,500 in an emergency fund which equates to about 6 months of living expenses. I have an IRA but have not put any money into it this year. 5% of the bonus went into my 401k already. Should I just put the whole $10k towards the loans? Should I put some into savings (would like to purchase a home next year)? My rent will be cut in half for the next year so I should be able to easily save about $10k over the next year in cash. I have no other debt other than the student loans. Student loans: $2514 @ 6.55% $3871 @ 6.55% $4275 @ 6.55% $3650 @ 3.15% $3049 @ 4.25% Total: $17,359 [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 05:56 PM PDT So the first card I ever got was a Walmart store card which I got 9YRS/1MTH ago and I still have it open, I never use it but it has no annual fee so no problem there. As a matter of fact the Walmart card has actually raised my limit through out the years and it's currently maxed out at 10k. But my second card has been the problematic one. I got a Capital One 8YRS ago. It was originally a secured card, then it was switched to a regular platinum with a $39 annual fee and finally switched to a Quicksilver One (still the same $39 annual fee). Since then I've worked on my credit and paid everything on time and have several credit cards that have credit limits in the ranges of 10k-40k And my credit usually hovers between the 770s and real low 800s. But despite all of that and several attempts at getting a CLI, the capital one card is still at 2k, where it's been for a few years now and attempts to get the cards terms to remove the annual fee have yielded no results. And thus, I never use it anymore. I don't know what to do. Most of my cards dont have annual fees, it feels kind of stupid every year in March getting an email letting me know I owe $39 on my CapOne again. Am I just over thinking it? Is the 39 dollars a year worth the help it gives my credit score? [link] [comments]  | ||||||||||||||
| Changing Jobs, Need Advice About Health Insurance Posted: 28 Mar 2019 05:49 PM PDT I just got a really good job offer!! Yay me! Better job, better commute, better pay. Here's the thing. The new job is a direct competitor of my current job, and historically when someone leaves to go to that company, they terminate you immediately. So I won't be serving out my two weeks. Health insurance ends on the day of termination. I have a medical test on Monday. I get the results in like a week. If I give notice and then get bad medical news, I'm worried I'm gonna be screwed. I had planned on getting a short term policy until my benefits kick in 60 days after my start date, but will the new policy cover pre-existing conditions? If I do have an issue, would I be paying out of pocket for anything related to the condition? This is a super good opportunity, don't want to pass it up, but also don't want to get in a bad situation financially if I have a medical issue. I am in Florida, USA. [link] [comments]  | ||||||||||||||
| Investing in bond funds for the short-term Posted: 28 Mar 2019 05:39 PM PDT I understand that investing in market by buying shares is for the long-term. But what about if I need the money in 3 years? Is it more appropriate to funnel the money into the bond market by buying into a bond fund? Any info/opinion appreciated. [link] [comments]  | ||||||||||||||
| Hoping someone can help me out of this mess. Bankruptcy is on the table. Posted: 28 Mar 2019 03:24 PM PDT I'm really hoping there's a financial wizard out there because I'm not sure how to fix this:
Breakdown of Expenses Rent 1650 Cell Phone 50 Gasoline 174 Water/Trash 100 Electric 300 Insurance 204 Food 435 Internet 50 Clothing 40 Medical/Grooming 30 Household Goods 75 Entertainment 150 Pets 75 Savings 0 Emergency Fund 0 Montly Expense Totals $3333 Breakdown of Debts Unsecured Revolving Debts (8 accounts - $33116) 808 Unsecured Installment Debt (3 accounts - $15939) 773 Secured Debts Minimum Payments (3 accounts - $48340) 949 Total Debt $97395 Minimum payments for monthly debts $2530 My expenses aren't exact and I'm probably forgetting a few, but those are the major ones I can think of. The Secured debt contains 2 car loans, of which my SO pays the entire monthly bill for and is included in her contributions above. She pays 800 towards rent, 75 towards insurance, and 180 towards the car note. I have somehow managed to keep all of my accounts current with no missed payments, but I'm out of savings so that will not be sustainable any longer. I'm about ready to cut up all of the cards so I can't use them anymore but I'm not sure if that's the wisest course of action just yet. I'm looking for advice. If you were me how what would you do? I'm thinking Chapter 13 might be my best option because I have a decent job/income, I'm just overwhelmed in debt because of my past decisions. If I get out of this, I think I will never use credit again except for buying a house. [link] [comments]  | ||||||||||||||
| Job offer - Lower salary than I asked for, but includes yearly bonus. Do I counter? Posted: 28 Mar 2019 04:19 PM PDT Had a job interview where I was asked for my salary range, I mentioned I would like more than 90K. Received an offer with a salary of 85k but a year bonus of 8.5k dependent on hitting to be determined KPI's. I was also offered an additional week of sick time and company stock that I didn't previously have. Overall I'm happy with the offer, but should I counter the base salary since its not what I asked for during the interview or does the bonus make up for it? [link] [comments]  | ||||||||||||||
| Can I use money from an equity loan for a larger down payment tp buy another house? Posted: 28 Mar 2019 04:05 PM PDT We are searching for a larger home and we lost a few because the other buyers had a larger down payment than our 100K. The mortgage guy told us to take out an equity loan on our present home for 150-200K and use that as a down payment. He said he couldn't write the equity loan because he knew it would be used as a down payment and not tell the other bank this, he recommended a bank. Is this illegal or wrong? [link] [comments]  | ||||||||||||||
| Should I pursue a full time job in my situation? Posted: 28 Mar 2019 05:17 PM PDT Currently I am in a situation where I am not sure if I should actively look for a new job or stay at my current one as a contractor. Background:
Financial situation:
Final Thoughts: I like working for my current company I just don't want to feel like I'm just waiting for an opportunity instead of actively finding one. I have been passively looking for other jobs but should I be more active? What would you do in my situation and why? Thank you for your time! [link] [comments]  | ||||||||||||||
| My mother is 59 and was scammed out of her life savings/house Posted: 28 Mar 2019 01:57 AM PDT My mother was conned out of her life savings by some romance scam guy. She remortgaged her house, took out her entire 401k before maturation, and borrowed money from multiple people including coworkers. She is currently working 7 days a week trying to make as much money as possible to repay debt but has health conditions that make it unsustainable for her to do this especially at 59. I am worried she will literally work herself to death trying to repay her debt. I don't see a light at the end of the tunnel because from what I can see best case scenario the house/debt is paid but she has no retirement money. I was hoping there is someone out there with some advice since she is too proud/scared to ask anyone for help. [link] [comments]  | ||||||||||||||
| Posted: 28 Mar 2019 04:00 PM PDT I'm wanting to transfer balance from my credit card at 20% interest, $1200 balance with a limit of $1500. To a credit card with 12% interest, balance of $20 and limit of $2000. This card has a grace period of 6 months for cash advances at only 0.9% Would it be better for credit score to transfer half the amount, so each card has a balance of ~$600, or would the impact on credit score be negligible compared to the interest savings, which is my goal in doing this. Ideally, I would just want to transfer all of one cards debt to another I have three credit cards currently: Balance of $900, limit of $1000 with 12% interest Balance of $1200, limit of $1500 with 20% interest Balance of $20, limit of $2000 with 12% interest Credit score for transunion is 702 I plan to keep all three cards in order to reduce my total credit balance/limit utilization ratio.l [link] [comments]  |
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