Personal Finance Now I see how people get into trouble with loans... |
- Now I see how people get into trouble with loans...
- Mom is most likely in her last days. What do I need to do?
- All bank statements lost after merger and bank is trying to charge me to get them back
- Girlfriend's mother has been using her SSN for bills and loans since she was 11.
- We hear about the 4% rule for retirement withdrawals but has anyone been doing this IRL for more than 10 years?
- Used my SSN for unemployment fraud
- # About To Be Evicted On July 12 Because Owner Didn't Pay Her Property Taxes. Ideas For What's Next?
- Can someone explain what happened to the money in my Vanguard account?
- Buying a new car right before buying a home
- High-Yield Savings Account Help
- What do you do about a verbal offer from a new job?
- How screwed up is the seller's agent when he didn't check the property's title?
- Why did my credit go down by 120 points in one month?
- I'm 25 should I go back to school ASAP graduate when I'm 29, or save for a year and graduate when I'm 30.
- How much will adding my sister as an authorized user on my credit cards help her score?
- Just received a surprise deposit of $782 from NY Department of Labor. What do I do?
- Mother wants to sell half of a house, what are her options?
- How do I allocate my spending?
- My previous employer has just emailed to say I owe them money
- Lease ends end of July - my landlord put the apartment on market saying it’s available starting early July
- Recently Engaged, Wedding planning on a credit card suggestions
- Take out student loans not because I need them, but because I might need them?
- Credit score stagnant even though I’ve never missed a payment
- (CZ) Buying the place I am renting, help with aligning on price?
| Now I see how people get into trouble with loans... Posted: 02 Jul 2020 05:39 PM PDT I just bought my parents a new refrigerator and the GEStore offers a loan with no interest as long as it's paid off in the first 12 months. I went with that because why not? Why pay $1700 out of pocket now when I can just pay $144-ish per month for 12 months? Anyway, I looked at the terms of the loan and the details. It seems like they split your total purchase into 48 monthly payments. Weird. Ok who cares, I'll just do the math myself and make sure it gets paid off within 12 months. Then I saw the interest rate. 29.99%!!! Holy shit!! I know that won't matter to me because I'll have this thing paid off in 12 months, even sooner if I want to. Really I could pay it off right now if I wanted to, but no reason to while it's interest-free. But that's insane! Someone who is less conscious of these kinds of things or less educated in finance would probably get screwed over by this thing. Be careful with this kind of stuff!! By default, you often will NOT get the benefit of interest-free. Edit: Alright, you've all convinced me. I'm going to just pay this off completely once it appears on the loan so I don't have to think about it anymore. I think I have to wait for my first statement. Now I'm regretting not using my credit card for the rewards :( [link] [comments]  |
| Mom is most likely in her last days. What do I need to do? Posted: 02 Jul 2020 05:34 AM PDT So my Mom is most likely in her last days (COPD is not pretty) and I need some help as to what to do when that happens. I already have PoA, am Executor, already on her bank accounts as the PoA/ToD, and Mom has a clear cut and dry Will. (Dad passed away years ago, so no other parent to take into consideration, this is it) I need help with all the other things. Her recurring bills (Utilities and such) Any services (lifeline) her ambulance and hospital bills, and any thing else I can't think of because I'm a gibbering mess of a person right now. I know I'll need death certificates (Hoping the hospital can make copies for me) for some things. But I know I'll need some help with this because right now my brain looks like the inside of Homer Simpson's brain, and I sure as heck can't figure stuff out right now. If any grammar/spelling errors or I have repeated myself in here, I apologize, but the screen is a bit blurry and my brain is having a heck of a time focusing. Thank you all in advance, and wish me luck. [link] [comments]  |
| All bank statements lost after merger and bank is trying to charge me to get them back Posted: 02 Jul 2020 03:33 PM PDT The bank I currently use has recently merged with a much larger one and all my past statements from that old bank have disappeared. I called to ask if I can get them back and the customer service rep said a ticket would be put in for them to "research it and see if they can find it" since the one I need is from about 10 months ago. Well a "fee" is also assessed and is $25/hour, depending on how long it takes for them to find it. Is there any way I can get my old statements without needing to pay $25 for them? [link] [comments]  |
| Girlfriend's mother has been using her SSN for bills and loans since she was 11. Posted: 02 Jul 2020 08:44 AM PDT Hello, my girlfriend's mother has been using her ssn for bills since she was 11. Before we left her mother told her that she took her SSN to apply for something. We went to freeze/check her credit today and the verification question asked if she had any loans in her name and we answered no because she would of been 15/16 at the time of the loans. We ended up getting an error asking us to call their number, so we're assuming that her mother may have taken a loan out. My question is if we can prove she was under 18 at the time of the loans will we be able to have them removed from her credit report. Also would this be enough for her to have her SSN changed? Thank you. [link] [comments]  |
| Posted: 02 Jul 2020 10:28 AM PDT You always hear about the 4% (or maybe 5%) withdrawal rules for retirement but I don't think I have heard or seen a real-life example. Anyone on this board actually done it for say at least 10 years which would cover some pretty crazy swings in the market and want to share their experience? Edit: Someone starting off with a set nest egg and is only depending on that and say Social Security but no other outside income [link] [comments]  |
| Used my SSN for unemployment fraud Posted: 02 Jul 2020 05:28 PM PDT My employer informed me today that my SSN was used to apply for unemployment benefits. They showed me the application: the suspect used their name and address (which we verified on Google/social channels) and my SSN and employer name. I immediately called credit bureaus, banks, credit card companies and checked my credit report. I filed a police report with local police, with the suspect's police department, and an FTC report which all include their name and address. The suspect has been collecting $600/week for three months from what we can tell. This is obviously a gross misuse of the system and an offense to taxpayers in my state. What I'm wondering is: What's next? Will they actually go after him? Will he be prosecuted? [link] [comments]  |
| # About To Be Evicted On July 12 Because Owner Didn't Pay Her Property Taxes. Ideas For What's Next? Posted: 02 Jul 2020 05:21 PM PDT Hi Personal Finance, My landlord doesn't have enough money to pay her property taxes, so she lost her renter's license. I found out today this through a piece of paper that says I have until July 12 to move out. I paid rent for July, my security deposit, and what would have been my last month's rent, August. In total, that would be about $2250. I'm in Philadelphia and I'm not sure what to do next. What do you think I should do next? Best, Will Be Homeless on July 12, But It's Gonna Be OK P.S. Here's the letter. I'm not sure how to get it show up on this post. EDIT: - I texted her and she said was posting the notice for a tenant that didn't pay her rent and that she isn't going to be evicting me. - I re-read the agreement: Apparently, based on the agreement, I was supposed to give her 30 days notice before my lease expired in May or my security deposit would be forfeited. It also said that a month-to-month tenancy shall be created which shall be subject to a $200.00 per month fee added to the present terms, which would apply to June, July, and August. :O. Well, I think I derped by not understanding the contract [link] [comments]  |
| Can someone explain what happened to the money in my Vanguard account? Posted: 02 Jul 2020 06:01 PM PDT Sorry if this is a dumb question, I have no one to teach me about finances and the answers I'm getting from Google are still a little hard for me to understand. I decided in April that I wanted to open a Roth IRA through Vanguard. I put $50 in it initially because I didn't know how it worked yet and didn't want to put a ton of money in and somehow mess it up. I went back in today and my account is at $0. My transaction history says that the $50 was "swept in" on 4/8 and "swept out" at 4/13. The 4/13 transaction is the last item on the history. What does this mean? Where did my money go? Please explain it like I'm five. Also, any further advice on how to efficiently use a Roth IRA would be helpful. I'm 21, newly graduated, and come from a family of poor financial planners. [link] [comments]  |
| Buying a new car right before buying a home Posted: 02 Jul 2020 02:31 PM PDT I know there is a general rule about not buying a car right before buying a home, but what if you don't really have a choice Situation... My wife and I are moving to a new state and planning on buying our first home. We've only had one car for a long time because she can walk to work, and we currently live walking distance to grocery stores, gyms etc. This will not be the case where we plan to move, and will need two cars. From a financial standpoint we are debt free, have a 20% down payment, and if we bought a new car and a house our debt/income ratio would be around 20%. Given this situation, will a home lender give us a hard time about financing a new car? [link] [comments]  |
| High-Yield Savings Account Help Posted: 02 Jul 2020 04:52 PM PDT So I've got a chunk of change that I'd like to put in an account that will have a higher interest rate than my current bank savings account. I plan to use this in 5ish years for a down payment on a house, so I'd prefer one that I can withdraw fully after that time. I've done some research online, but I haven't found any solid answers that I find suitable. I figured y'all may have some real-world, potentially new, insight. [link] [comments]  |
| What do you do about a verbal offer from a new job? Posted: 02 Jul 2020 06:18 PM PDT I recently interviewed at a company that I really liked, and got a verbal job offer. I told them I'd be putting in my two weeks tomorrow. They seemed like they wanted to get me started sooner, but agreed and discussed pay. I'm now reading all of these warnings never to put in your two weeks before a written offer. I guess there wouldn't be much of a difference, they could just as easily let me go after a week or two as they could retract the offer. Should I email them a thank-you again letter confirming the details (pay, start-date) for solidarity? Would this imply I dont trust them? Did I make a mistake not asking for it in writing, what should I do? [link] [comments]  |
| How screwed up is the seller's agent when he didn't check the property's title? Posted: 02 Jul 2020 06:48 PM PDT So I am at the end of the escrow, after my lender send the loan doc to escrow, escrow just found that the property is under a trust, and there are 6 people one the trust, and two of them passed away. I am not sure what exactly, but the escrow said they have to figure this out first before I can sign. From what I understand is that the issue might be as simple as getting a few signatures. But also might involve lawyers (may have disagreement among the 4 people alive and maybe beneficiary of the two dead, but they are all in one family, hopefully not the case) It's pretty clear to me that the seller's agent fucked up, he didn't even check the condition of the title, whether the seller is fully ready to sell, whether there is anything needs to sort out first. It's also clear to me that my agent and the escrow are both at fault for no spotting this potential problem for the last 25 days. Anyway, the seller's agent said they will reimburse me for everything I paid (inspection and appraisal), but it is still disappointing because the time I spent, I have even found all the appliances and furniture that I will put into this house, and just wait till the day I get the key. Now everything might be wasted. [link] [comments]  |
| Why did my credit go down by 120 points in one month? Posted: 02 Jul 2020 10:18 AM PDT I just checked my credit score for the first time in a while and I noticed that last year my credit in August was in the mid 700s, and then in September it was in the low 600s. I'm trying to figure out what caused this so I can avoid it happening again in the future. I have a list of possible causes but I don't see any of these making enough of a difference and I'd appreciate some input:
I understand that several of these factors could have an effect, but more than 100 points in a single month seems extreme. Thanks in advance for any input! Edit 2: is there any way I can find out exactly what it was that happened, and if it is something that can be contested? [link] [comments]  |
| Posted: 02 Jul 2020 02:02 PM PDT I'm considering going back to school to get a degree (4 years of university) I'm 25 this year and the earliest I can attend school is summer of 2021. I don't have much for savings, I would be starting now and save every penny I can. Should I go back as soon as I can and get into massive debt with OSAP and be done ASAP or should I work for another year and attend school in the summer of 2022.. Background info, I graduated from college last year and decided I want a different career path. Currently debt free. [link] [comments]  |
| How much will adding my sister as an authorized user on my credit cards help her score? Posted: 02 Jul 2020 04:44 PM PDT TL;DR: I want to know if adding my sister as an authorized user to my credit card(s) will actually help her score and a few other questions. My credit score is 796. My sister's credit score is 645. I have 3 credit cards - Visa (limit: $6,500, opened 2013), MasterCard (limit: $7,000, opened 2017), and Visa (limit: $9,000, opened yesterday). I also have my name on a company Amex opened in 2019 with an unknown limit. I have one student loan with about $7,000 left on it and no other debt. My sister has a few different debts and is working on getting her finances in order. I will not be giving her the card, the goal is just to raise her score by association. Is adding her as an authorized user on one or more of my cards likely to help her credit score noticeably? If yes, which one(s) or all would you suggest? From what I've googled/found in this sub, there seems to be no way me adding her as an authorized user can negatively impact me (unless she ran up debt). Is this 100% correct? Is there anything else I should know/keep in mind? Thank you very much for your help with this! EDIT: My sister has credit card debt of about $450, a $10,500 debt consolidation loan from Payoff, and a $4,300 car loan. [link] [comments]  |
| Just received a surprise deposit of $782 from NY Department of Labor. What do I do? Posted: 02 Jul 2020 04:57 AM PDT I just woke up today to see two separate deposits in my checking account in the amounts of $600 and $182 separately from "NYS DOL UI DD". I haven't filed for unemployment or anything. I still have my job. I'm also not aware of any sort of stimulus either. Also I did my tax return months ago and I didn't have a return from NY anywhere near this amount. In fact I think I actually paid a little bit back. Anyone know what this might be or what I should do? [link] [comments]  |
| Mother wants to sell half of a house, what are her options? Posted: 02 Jul 2020 08:30 AM PDT Here is the situation: My mother would like to sell her half of a 2 family house (one mortgage). The other person on the mortgage is her sister. The house is more or less paid off, they owe maybe ~20k, and the current market value is around 400k. The intention is to sell her half to her sisters daughter who would move into my moms half. What does my mom have to due to essentially cash out? My aunt doesn't want to have a mortgage again since the house was basically paid off. Is it possible to just mortgage half of the home to the daughter? [link] [comments]  |
| How do I allocate my spending? Posted: 02 Jul 2020 11:03 AM PDT Hi! I am just a young human looking for some advice on how to allocate my spending. Here to learn! Without giving too much away, here is a broad picture of my finances: Biweekly take home ~1650 after tax (56k a year w 10% bonus potential) Rent - 1530 a month Utilities ~120 a month Groceries ~200 a month Gas ~100 a month Roth - 200 a month (I am going to max it out at end of year) I have 6 months required expenses saved and have money invested in stock (about a paychecks worth). Currently, I am saving ~1000 a month not including roth. I am trying to create some discretionary spending categories to help me budget and practice limiting discretionary spending, ie: clothing, entertainment, misc. My issue is that I do not know how much I ~should~ spend a month/year on discretionary spending and how much I ~should~ save/invest. Sharing any tips/advice/example budgets or personal experiences would be greatly appreciated. Edit: more info. [link] [comments]  |
| My previous employer has just emailed to say I owe them money Posted: 02 Jul 2020 05:24 PM PDT I left my old job 10 months ago. I left the job in the UK and moved to New Zealand and I have yet to get a job. I asked payroll several times if they had all my dates and and holidays correct so I could leave as soon as possible. Can I just ignore it since I'm no longer in the UK ? I'm not sure how much they have overpaid me. I left mid month. [link] [comments]  |
| Posted: 02 Jul 2020 03:02 PM PDT I am a Washington DC resident. Our lease officially ends in the end of July but we moved out early. We did not break the lease and we already paid the whole month of July rent. We just moved out early. I can see that my landlord posted the apartment available on July 8th. My landlord also told me to keep the electricity connected thru whole month of July even though we moved out. This seems illegal to me - the fact my landlord charged me for the whole month of July and letting people move on early July. I returned the keys but my lease ends on the end of July. But the landlord put the apartment on the market saying it's available starting 7/8/2020. [link] [comments]  |
| Recently Engaged, Wedding planning on a credit card suggestions Posted: 02 Jul 2020 10:18 AM PDT I just got engaged this past weekend and have seen around that some people have applied for travel or cash back credit cards and then put all the wedding expenses on the card. They could then use that for a honeymoon or other benefits. I have all the cash to pay the credit card purchases, so I will pay it off as soon as i put it on the card. Has anyone here had done this and have any suggestions. Is there a particular card you would recommend? My credit score is pretty good, so I'm not worried about getting declined. Any advice would be appreciated. Thanks! [link] [comments]  |
| Take out student loans not because I need them, but because I might need them? Posted: 02 Jul 2020 08:51 PM PDT Senior and it is looking like I am about to graduate during a shitty time and to top it off, my desired occupation seems to be a very competitive place to be. So, up shits creek really. I only have around $3,000 in student loan debt right now. No car, so none of that. I am thinking of taking out the $2,500 offered to me for the summer (if it is still available) and ditto for the school year. Normally, I just reject the loans, but now I am thinking otherwise. I have the value of my loans in my bank account now, so in theory tomorrow I could pay them off, but of course, I am not. The gov will make do, but I might now. Is this a crazy late night idea or am I on to something? It's really not a lot of money, but I am still debating. [link] [comments]  |
| Credit score stagnant even though I’ve never missed a payment Posted: 02 Jul 2020 08:36 PM PDT Just looking for some advice on how I could get my credit score to start moving again. To preface this I only have 15 months of credit history but in the first 8 months it sky rocketed up to around 580. I paid off a medical collections debt and it instantly went up to 650 and has stayed there for months even with consistent on time payments on my loans. Wondering if there's something I could do to get it back on track to how it was going or if I'm doing anything wrong. Also, I do not have any credit cards. [link] [comments]  |
| (CZ) Buying the place I am renting, help with aligning on price? Posted: 02 Jul 2020 07:31 AM PDT Hey, I have rented this apartment in Prague for 2.5 years, I like the apartment because it fits my specific requirements well. A few weeks ago my landlady reached out to me saying that Corona had impacted her financially and that she wanted to sell the apartment so I had to move out. She said she expects the market to go down, and while it should recover in a few years she might not be able to wait for that, so she wanted to sell asap. We agreed on me having 3 months to find a new place. After I moved out she would do some light renovation/interior, get an appraisal and put it on the market. I was initially looking for places to rent, but realised since I am probably going to stay here for 5+ more years I might as well buy it. I brought it up with her and we agreed that she would come with someone to do an appraisal. They did not show up for the appraisal but instead the agent just did it based on pictures, and the appraisal is higher than what I would have expected. This is prices for all the apartments sold in a 0.5km radius the last 15 months: https://imgur.com/a/90d90p9 The appraisal is asking for 12.8 million for a 95 sqm apartment (134,736 per sqm.) The condition of the apartment is acceptable (but not amazing), and its on the ground floor (my understanding is higher up = costs more?). Looking at what is for sale in my area I do see some that seem to be priced higher than the appraisal, but also some that seem like much better deals. Another thing that struck me as weird, when she sent me the appraisal she asked me to respond if I wanted it within 5 days. I don't think its a hard deadline, just seems weird to mention since I don't think the apartment would be on the market until September or later if I hadn't wanted to buy it, but maybe no reason to read into it. My first intuition is just to get a second appraisal. I have never really thought about buying and this was sort of sprung on me so any input is much appreciated. TL:DR: Landlady needs to sell place I am renting, I am considering buying it myself but the appraisal seems high and I am unsure how to proceed. [link] [comments]  |
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