Personal Finance Car was put in my name when I thought I was co-signing for my sister. I’m only 19, is there any way to transfer ownership? |
- Car was put in my name when I thought I was co-signing for my sister. I’m only 19, is there any way to transfer ownership?
- Should I help my mom financially?
- I Didnt Know My Wife Had Life Insurance
- Just Received a Job offer one week after being Promoted
- Is my father right? Should I not open an Roth IRA?
- Cousin is semi-comatose, hospital/gov wants banks statements
- Why do I feel like I’m living paycheck to paycheck?
- I was gifted stock as a child, held as Joint Tenant, but under my SSN. Few years ago they were sold without my knowledge by the JT and I just found out. Is it fraud? What can I do?
- Hospital won’t answer phone. Bill sent to collections
- Advised to file Chapter 7 for a 10K judgment by attorney
- As someone in a middle tax bracket, should I contribute to Traditional or Roth 401k?
- Growth or dividend stocks in a roth IRA? Still have 25 years or so until retirement
- Buying first home (nyc) need advice
- Received text to call ARC; told to pay 3k+ ER bill from another state
- Traditional vs Roth 401k, mid of 22% income bracket, best pick?
- I have $72k saved up, should I invest or leave it for now due to market instability?
- Traditional IRA Investment - Diminished Returns? Alternatives?
- A Will versus a trust
- How do I get right side up on car loan?
- A medical debt that isn't mine. How do I deal with it before it becomes a debt/collections issue on my credit?
- What to invest in Roth IRA
| Posted: 22 Feb 2022 10:37 AM PST Someone close to my sister who works at a dealership wanted to purchase a car for her and my sister FaceTimed me asking if I could co-sign it. We were both under the impression that I was only co-signing and it will be under her name. The dealer's assistant drove three hours to my city for me to sign the papers since I was not physically present. Come to find out the guy screwed her over, didn't put in a down payment at all, and is not handling the monthly payments as promised. We found out yesterday that the car lease is in my name. There is one missed payment, I just paid yesterday but how badly will my credit score be affected? I had a pretty good score prior to this. And what are the next steps I should take in this situation? My family is extremely low income and I qualify for a full ride scholarship at my university because of it, will this car being in my name change anything since it's an asset? I have no idea what to do regarding fafsa, any advice will be appreciated. My sister and I are trying to transfer the lease to her name but I called the car company and they said they are unable to transfer it because the contract is finalized. I know this was a stupid decision please don't tell me that. [link] [comments] |
| Should I help my mom financially? Posted: 22 Feb 2022 05:39 PM PST Recently I have been feeling a lot of stress when speaking to my mom about her finances. Being a stay at home mom most of her life she never had a robust career. When her and my dad split she was left with pretty much nothing. She has a $15/hr job and lives a fairly frugal life. She has a $25K medical bill from a broken arm that required surgery and physical therapy. I am a 24F who makes 70k, with no debt living in a medium cost of living city. I am doing ok financially, saving(retirement, house, car) and living a comfortable life. I have been feeling a lot of guilt that my mom is struggling so much financially(I can hear in her voice how stressed she is) and am trying to think of ways to help her without sacrificing my financial independence. [link] [comments] |
| I Didnt Know My Wife Had Life Insurance Posted: 21 Feb 2022 05:39 PM PST Hey everyone. Using a throwaway account as my friends know my real account and I'm not ready to share this yet. My wife had been battling cancer on and off for the past 6 years but it finally took her 2 months ago. We never really talked about her passing and arrangements or anything like that because her passing was a little unexpected. We thought she still had a few more months. I got a letter in the mail from Lincoln Finacial about 3 weeks ago asking for beneficiary information and her death certificate. I didn't know anything about a life insurance policy so I figured she must've had a basic plan through work. I called them first just to make sure it was legit and then sent them my info thinking it would be nice to get at least some money from all of this. About a week later I'm trying to buy groceries and my card kept getting declined, i get into my bank account to see what's up and see 233,000 had been added to my savings. I held it together as best as I could and called and got my card fixed and quickly went to my car to cry. This all happened on valentines day so I guess it was my wife's last big valentines day present to me. I did not expect this amount of money at all and I have no idea what to do with it. I called her employer later and found out she had taken out an optional life insurance plan rather than the basic and never mentioned it to anyone in her family. I feel like it would be best to invest it and not just let it sit in my bank but I don't know where to start. I have almost no debt and I rent a house from my parents so I don't have a mortgage. I'm just kind of beside myself right now. My parents use Edward Jones but I've heard not great things about them. Where should I start looking? Edit: wow I didn't think this would get as big after going to bed. Thankyou everyone for your input. I feel more confident in what I might try. I'm just gonna sit on this for now and make sure everything else in my life is squared away because this is stressing me out more than I realized. Thanks again everyone. [link] [comments] |
| Just Received a Job offer one week after being Promoted Posted: 22 Feb 2022 08:36 AM PST So I work in the service industry as a manager and was just promoted to General Manager of a restaurant after working as AGM since July. The former GM of the restaurant left in early September and I have been acting GM since. I applied to this new job for a few reasons, one because I was frustrated that they kept the job posting up for not only the GM position but also the AGM position that I was already in. The other is because the new job is in a location of the country closer to friends and family. My current Salary is $85k with bonus potential of up to $20k per year, but by no means is that guaranteed. The new offer is for $80k with 10% bonus that is essentially always paid out, with $2k to relocate. 401k match for both companies is 4%. I currently live in Arlington, VA and the new position would be in a much lower Cost of living place, Western Massachusetts. My gut tells me I would prefer to move up and be closer to family and friends for a similar pay in a lower cost of living situation, but I literally was promoted last Thursday to GM and there was a company wide email that got sent out, so it is truly an awkward situation if I decide to leave. Appreciate any and all insight/advice. [link] [comments] |
| Is my father right? Should I not open an Roth IRA? Posted: 22 Feb 2022 05:34 PM PST Hi all, just looking for a bit of advice. My Uncle is a Licensed Stock Broker, albeit in another state, and has approached me about setting up a Roth IRA. I've always been, well bad with my money and kind have squandered a good thing in the past few years, although I'm now trying to turn it around. I'm 27, live with my parents and make roughly 30k a year. I have no significant bills other than my phone bill and the car I drive is completely paid off. So the idea of starting an IRA for a nice payout right around the time I'll want to settle down sounds amazing. I told my father and he's like, "What the hell is wrong with you, are you stupid? What money do you have to be putting in an IRA?" He pointed out that I'm trying to get into medical school soon, and technically couldn't buy a car now if I wanted to. I can't tell if I still haven't fully developed into my own individual adult and am still so easily swayed by my father, or if he's right. Any and all advice appreciated. [link] [comments] |
| Cousin is semi-comatose, hospital/gov wants banks statements Posted: 22 Feb 2022 01:36 PM PST ****Update: I appreciate your responses! Part of the issue with the hospital is they are are short staffed due to COVID and pushing anything they can off on family. It appears they have one onsite person and some third-party vendor that keeps sending automated information demand letters to his house. I just did an emergency guardianship and conservatorship for his mom (she has dementia). It's gonna be a grand to tell these people he's not worked since 2020 and his account has maybe three digits in it :( All I can say is that my entire family was lax in this area. Get your paper straight, as shite absolutely does happen. ***** My cousin has been in ICU since 1/6. He has been alternately in a coma and now not what is considered truly conscious. He is unable to communicate and sporadically aware of his surroundings. To what extent and how long it will take for this to improve is an unknown. He is fairly young and has no insurance. Dad is dead, mom has dementia and is legally incompetent, so I am the next of kin. The hospital is waffling and struggling with obtaining assistance as they want his last two bank statements. From what I can tell, he did everything paperless. His buddy does his taxes, so I supplied evidence of below poverty income, but they are still adamant nothing can be done without the bank statements. He both needs assistance with the bills and long-term care once he is discharged. Wells Fargo is adamant that a POA is the only way to release these records. Is that accurate? I can't believe there isn't an agency-to-bank background mechanism for these situations. He can't possibly be the only account holder, in the history of ever, to become totally incapacitated. Any advice on some other number I can call for a division that handles these situations? Main WF CS keeps parotting "you'd have to get a POA or have him call." [link] [comments] |
| Why do I feel like I’m living paycheck to paycheck? Posted: 22 Feb 2022 06:25 PM PST I feel like I have a pretty decent income, yet I still feel like I'm living paycheck to paycheck? I feel like something is seriously wrong with my financials. I make a little over 50k a year and feel like I'm barely getting by on the month to month. My car is paid off but if it wasn't or if my wife needed a car we'd be struggling to make enough to cover all of our bills. Right now if I'm lucky I'm only saving $400 a month. If anything catastrophic happened, we'd be wiped out. Am I doing something wrong? Here is my income and expenses. Gross weekly income: $1015.60 Federal: -$91.74 SSI: -$60.62 Healthcare: -$14.18 State: -$41.67 3% Pre-tax 401(k): -$30.46/w Pre-tax Dental: -$2.12/w Pre-tax Health: -$35.69/w Net Pay: +$739.14 - $3,202.94/mo Expenses: Mortgage: 1,750 Food $500 / 400 Shared Phone plan $106 Car Ins $98.23 Car loan: $0 Gas $100 Tolls $20 Fun: $200 ( $50 a week) Savings: $200/mo Entertainment: $25/mo Total: $2999.23 ( I put an " * " on the bills my wife pays for) *WiFi: $100 *Electric: $450 *Oil: $220 *Water: $50 *Trash: $25 *Total: $845 [link] [comments] |
| Posted: 22 Feb 2022 12:57 PM PST I have some stock that a family member gifted to me 20 years ago, joint tenant, but it was under my SSN. I was looking to transfer or sell the funds, as they were a gift to me, but when I called they told me the stocks were sold a few years ago by the family member/joint tenant. I'm over 18 and when the stocks were sold I was over 18 (if that makes a difference). They never contacted me nor gave me any share of the money that was sold. It is over $1000+ so I'm a bit angry over it. Is this fraud since the account was under my SSN? [link] [comments] |
| Hospital won’t answer phone. Bill sent to collections Posted: 22 Feb 2022 10:54 AM PST Approximately 1 year ago, I went to the ER. I had no insurance and the hospital was kind enough to apply charity care to my visit. However, the company the physicians bill from did not receive my charity care letter and as a result my discount has not been applied. The bill is too much and I cant pay unless the discount is applied. The solution is getting the charity care dept. at the hospital to fax my letter over to physician's billing or email me a copy. But they NEVER answer the phone. I have been calling for 8 months. I have called almost every day this past month and left a voicemail every time. In the 8 months ive been calling I have received 1 call back but it was an unknown number so I didnt answer. I have emailed the office of charity care DOH for the state only to have them give me the same numbers. I have emailed the hospital for correspondence. I have left the charity care department all my information and my email several times to start a correspondence. I only need someone to pick up the phone once and fax a piece of paper to avoid this. Its about to be cheaper to fly there in person. What can I do? EDIT: I live 800 miles from the hospital [link] [comments] |
| Advised to file Chapter 7 for a 10K judgment by attorney Posted: 22 Feb 2022 09:09 PM PST I (28F) posted here a few weeks ago about a default judgment against me, and ended up talking with an attorney. We approached the credit union with an offer to settle the debt for $3K, and the credit union responded by saying they were not interested in negotiating the debt—at all. They want the entire amount paid plus the interest that has accumulated—even knowing that the possibility of me declaring bankruptcy means they get nothing. So, I have $7000 in savings and I don't have enough to pay the judgment off. Additionally, my attorney advised that if I file a chapter 7 bankruptcy I can keep my money that I have in savings and that my 20 year old beater car will be safe as well. I don't have any other debt besides my student loans, and will graduate college next summer. Am I making a huge mistake by considering filing bankruptcy for a $10k debt? Or will this finally free me from the looming fear and shame of my default judgment? [link] [comments] |
| As someone in a middle tax bracket, should I contribute to Traditional or Roth 401k? Posted: 22 Feb 2022 11:39 AM PST Sorry I know this gets asked a lot, but I read through the wiki and was still confused... Background: I'm in my early 20's, make just under $90k/year in a state with high income tax, and expect to be in the 32% tax bracket at some point. I max out all of my tax-advantaged contributions and have some spare money to save afterwards. I'm not sure how much taxable retirement income I should be expecting, but I don't expect to have a pension. I'm planning to retire early if possible (around 50). Right now I'm considering a 30/70 split between Roth and Traditional 401k contributions. Would that be fair? Thank you [link] [comments] |
| Growth or dividend stocks in a roth IRA? Still have 25 years or so until retirement Posted: 22 Feb 2022 06:32 PM PST Wondering if I should pick hefty dividend stocks or just focus on growth instead [link] [comments] |
| Buying first home (nyc) need advice Posted: 22 Feb 2022 09:05 PM PST Salary: ~150k credit: ~750-780 debt: 10k fed student loan (0% interest for now), single & no kids in mid twenties. I have been looking to buy my first home and just found a house I really like. This is a multi family house, asking for 800k. I have saved just enough to put down a 20% down payment. My parents are willing to help me out financially as well. Since this is a multi family home, I plan to rent out the primary 3 br unit and I'll stay in the 1 br apartment unit. The house is relatively new, no major renovation is expected at this moment. My dad does construction, so he can handle small stuff that needs to be fixed if problem arise. Now my main questions are: 1. Is it financially smarter to put less down payment (10-15%), 20%, or more (~30%) down payment? 2. Which loan would fit me best: FHA or conventional? 3. Which bank tend to have better interest rates? 4. Is this a good time to buy a house given rising interest rates in the near future? 5. Any other factors I need to consider for a first time home buyer? I truly appreciate any feedbacks possible :) thank you! [link] [comments] |
| Received text to call ARC; told to pay 3k+ ER bill from another state Posted: 22 Feb 2022 09:00 PM PST It was an 855 number; I thought it might've been about an application I filled out. They had my name, I confirmed my last 4 SSN. Then they told me they're a collection agency trying to collect on a hospital bill. When I asked for more info was told it was an ER visit, Sept 2019, and couldn't disclose more bc of HIPAA. Informed them there was no ER visit from me around that time and asked why it hadn't shown up on my credit monitoring app. They said they don't report it. Told them it seems suspicious that someone is basically asking for money out of the blue. Their supervisor was going to email more info. Then they tried confirming my address; one I've never lived at. Confirmed DOB with them. Went to speak to supervisor and was told they'd mail me some packet. Asked them where was the address/bill and it was in another state. A city I've never been to. Haven't received said packet yet and this is incredibly unsettling. I use credit karma and I don't see any new accounts or inquiries. It all seems normal on that side I feel as though providing my info may have been a mistake. What options do I have? What kind of legit paperwork should I be expecting? What kind is a red flag? How do I check if my SSN/DOB has been used elsewhere? Edit: it's late; I'll be lurking and reading the replies throughout work tomorrow and won't be able to reply for a while [link] [comments] |
| Traditional vs Roth 401k, mid of 22% income bracket, best pick? Posted: 22 Feb 2022 07:30 PM PST Hey all, Just got a new job, will be getting paid about $60k/year, in my mid 20s. Before I was making less, I would just go Roth, but now I am not too sure which choice would be the best for me. The new job will put in 3% by default with no contribution, plus 3% match if I put in 3% as well (3% myself + 6% company). I plan to put in the 3% minimum for max match, along with maxing out the Roth IRA per year. If I were to go traditional, I would cancel out some of the income in the 22% tax bracket. In my situation, which one would work best in my scenario in your opinion? [link] [comments] |
| I have $72k saved up, should I invest or leave it for now due to market instability? Posted: 22 Feb 2022 06:34 PM PST Hello! As the title says, I have $72k saved up in a money market account and it's accumulating .45% interest at the moment. I have brokerage accounts on RobinHood and E*Trade, but I've lost almost $16k over the last couple of years due to risky stocks (even with the market being crazy right now) Are there any ETF's or bonds that would be considered safe for me to put a chunk of my savings and let it grow to at least beat my money market? [link] [comments] |
| Traditional IRA Investment - Diminished Returns? Alternatives? Posted: 22 Feb 2022 07:20 PM PST I have a question about where best to put my money. Background info: Age: 30 Yearly Income: 80K - Self Employed (moderate-low stability) Lifestyle: Very lean, Engaged, No Kids -2011 Honda CRV Fully Paid Off Current Investments/Accounts
Total Home Mortgage of $245,000 - Paid down to $215,000 @ 2.8% On a weird morbid note: I live a risky lifestyle (rock climbing, mountain biking, Skydiving, etc...) and don't have any major dependents and don't plan on having any soon. What would you do with my money? A.) Max Traditional IRA contributions to 6K each year? B.) Pay down my mortgage to get rid of PMI immediately? C.) Keep making substantial investments into Crypto and Personal Stocks? D.) Use spare money to buy another house as rental property? E.) Other? Let me know your thoughts!? Thanks! [link] [comments] |
| Posted: 22 Feb 2022 04:04 PM PST A relative died recently and he had no children. Apparently at some point in the past he called my uncle (he and my uncle were cousins) and asked for mine and my siblings names. According to my uncle there is a trust with the deceased relatives money in it. Not sure if he had a will everyone is calling it a trust. I know this is sketchy on details but I am trying to understand this process of what happens now. I know people have wills and I have heard of rich people having trusts for their kids and such but is this different? What happens with the trust? Is it similar to a will or is it a whole different thing. He had leukemia and I don't know how long he had it before he died. Just curious as to the process. Edit: a lawyer (maybe the one in charge of the trust) called my uncle (my dad is deceased) and informed him of this trust. [link] [comments] |
| How do I get right side up on car loan? Posted: 22 Feb 2022 11:38 PM PST I have a 2021 Colorado worth about 40k. I owe 48 currently because I'm a moron. What would be the smartest and quickest way for me to get out of this pit? edit: I've been pondering the idea of getting a $15k personal loan, paying off the remaining 8k and getting a 7k car for the time being. [link] [comments] |
| Posted: 22 Feb 2022 07:00 PM PST A bill for emergency medical services came to my address from a hospital in NC. Approximately $5k was already paid, and the bill shows $5k outstanding, with a month before first payment due. The patient name is correct, as well as my state address. The name is also listed as "responsible person." But I don't live in NC, haven't set foot in NC for... 20-some years, and then it was just passing through on a vacation... and sure didn't receive medical treatment earlier this month. I checked my bank accounts. There has been no suspicious activity on anything. No flags from my bank or credit card, and no $5k expenditures on either. The website where payments can be remitted reports my "responsible person" number as accurate and the outstanding balance is correct. It doesn't smell like fraud or identity theft, so it looks like an honest mistake from the billing department. Although, how they can take payment, get the name right, and send it to someone in a different state who's never done business with them... baffles me. So, does this smell like fraud or identity theft to you? Whether it does or doesn't, I still need to wrangle with the hospital. How do I do that before they start with late notices and reporting to credit bureaus? I know what steps I have to take if it ever gets there (registered mail, "you have 30 days," Fair Debt Collection Practices Act, etc.), but I'm not sure what to do when it's before that point, to head off the potential headaches. What advice can you give me to defuse this financial time bomb? [link] [comments] |
| Posted: 23 Feb 2022 02:25 AM PST Hi, I'm a newbie in all this investment and after figuring out that I should open a Roth IRA, I did (yay). However, I'm still not sure what to do next for the money that I put in this account. I know it won't grow $ if I don't invest, but … on what? I tried reading the wiki but still a bit lost. So, any advice for me? I prefer the target date fund strategy (I think!). My account is with Fidelity. Thanks for helping me. [link] [comments] |
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