Student loan debt payment: which loan should be paid first? Hello! This is my first post in this sub so I appreciate guidance if I am breaking rules so I can get some answers. For context: I am not from the US but currently living here and I am not familiar with student loan debt. I am good with finances and live frugally and my partner (from the US) is trying to catch up with his debt and pay off his st…

Spousal debt help!!! My spouse told me yesterday they are currently over 90k in debt. This is the first time this has come up in our almost 4 years of marriage. Most of the debt comes from credit cards that got maxed out so they took out a loan to pay it and then continued the cycle. I want to help pay down the debt asap but I don’t know the route to take. The debt…

Throw $10k into Emergency fund or debt? Baby in 2 months, only have $5.5k in savings. $13k in debt at 7%, VHCOL, monthly income is $11k net and monthly expenses are about $7k including debt repayment. $20k in checking at the beginning of month. Thinking of putting $10k into HYSA then attacking debt after. Or should I put it towards the debt now? We will have help when baby is here an…

Drowning in credit card debt. Debt consolidation–do I take this life raft? Right now I am treading water with my credit card debt and living in fear that they’ll start garnishing my wages. I live in NJ where the maximum wages that can be garnished by creditors is 10%. My cards are all consistently above their balance and all teetering at risk of being closed. I make $3200-3400 per month. I own my home and my mortgage p…

Laid off and overwhelmed by $30k+ of debt I can’t pay. Trying to figure out my options. My financial situation is worst it’s ever been, and as a 35 y/o with a good amount of financial knowledge, I feel like a total failure. My debt is paralyzing me, my income is barely enough to make ends meet, unemployment is all dried up, but I do have options. I’m just so overwhelmed that I’m having trouble figuring out what the right next moves…

Received notice from debt collector on medical debt for about $1200 Long story short, I got injured last year and eventually had other medical issues as well as personal ones which included moving. I forgot to update my address. I picked up mail back in Sept and there was nothing noteworthy and then again last night I received a letter from a debt collector for 2 bills for about $1200. I called the medical pract…

Debt management and finance management. My Fiance and i have some debts. Trying to figure out how to tackle it. My fiance has no retirement. We are trying to open a SEP IRA or 401k since she is self employed. We are trying to see what money should go where while saving for retirement. I make 140k/year and she makes around 70k/year as a 1099. Her Debt: HELOC: 8k at 8% (200/mo) (debati…

How New York’s Plan for Reparations Became a Debt Trap for Marijuana Retailers New York persisted with a plan to build flagship dispensaries for people the state once prosecuted for weed offenses, even as it failed to meet its goals.

10% 401k Match or Tackle Student Loan Debt Hello, I (30M) would love some opinions on how to best go about my saving and student loan debt situation. I started a job towards the end of 2024 that drastically increased my income and therefore opened up my ability to contribute more money to savings, 401k, and tackle debt. I currently owe $24k in student loans around a 4-4.5% interest rate…

Should I pay college debt or invest in a roth ira? If I’ll have 50k college debt by the time I finish college. And have 20k rn. Should I invest it in a roth ira over the years or use it for college debt? I’m not 100% sure what’s the correct answer so I want advice. submitted by /u/lonlysoul101

I currently have 20K in debt, and I don’t know how to proceed. How to I proceed with this? I am currently a student and unemployed, but actively looking for work. I currently have 20K in debt, and I don’t know how to proceed. Also, I haven’t talk to the collectors since I am afraid and ashamed. How to I proceed with this? submitted by /u/QuartzDiamond

Drowning in Debt and No Way Out – Just Waiting for the End I don’t even know why I’m posting this. Maybe just to get it off my chest before it all comes crashing down. I’m $96,532 in credit card debt. Another $52,129 in medical bills that I’ll never pay off. My student loans have ballooned to a number so big it makes me laugh. I barely make enough to cover rent, let alone pay anything down. Every month,…

$60k in tax debt for 2023, more expected for 2024 – cash out retirement? Edit for missing info: we did not pay quarterly taxes, the money we should have put aside for taxes was spent – we underestimated taxes by a significant amount. We had a number of unexpected expenses come up – we used money we shouldn’t have to cover it. We never learned how to run a business and unfortunately, we cost ourselves a lot. We should…

CC Debt Free Today! Next Steps? submitted by /u/rrnah

Which debt do I pay down first? I recently got a bonus and after taxes I have 10k to help pay down some debt. I have 18k in student loans and 28k on my truck. The student loan payment is $110 per month and the truck payment is $670 per month. Which debt do I pay down first? I know I won’t be able to completely pay off either one but my ultimate goal is to lower my monthly expe…

(Can) Is it worth getting a loan to pay off my CC debt? I have $16K in credit card debt in 2 cards despite having a stable job. I feel like I’m stuck in a cycle of high interest payments ($350~ interest payments) that barely make a dent in the balance. Every time I make a payment, most of it seems to go towards interest rather than reducing what I actually owe. A friend suggested looking into a loan …

Paying off a little debt that has gone to collections A couple years back I rented an apartment and moved later in the year. I was assured that the apartment complex would only charge me until they found someone willing to fill the space. “Typically 3 months” was the wording used. 4 months later I was still being charged and could no longer make the payments for both apartments so I chose to let it…

Car debt or Roth IRA? Pretty simple here. My parents got me a car during beginning college, I’m (21 M) now working earning $1600 semimonthly. So I took on the car loan which has a monthly payment of $420, I have been paying $800 for the last 2 months and $15.65k remains on it with a 9.54% interest rate. (Don’t ask me, I don’t know how.) I’ve contributed 2.5k to my 20…

My Parent’s Debt is Concerning My parent’s(in their 40s-50s) have a large amount of credit card and loan debt with no form of savings what’s so ever. Around 50-80k of debt, while they both make around 80,000 a year combined. I have knowledge about most of their finances and know they go from paycheck to paycheck. Me an 18(M), a middle child going to cc(community college) hav…

Is it worth paying off debt collectors for 6 year old credit card debt My old credit card debts are around 5-6 years old and passed around by so many debt collectors that the offers to settle are getting low Settling $2500+ outstanding debts for around $100 a piece is honestly a tempting offer for me, but aren’t credit card debts supposed to fall your credit score after 7 years anyway? Or is that 7 years after the …