Debt Consolidation (Possibly HEL/HELOC) I am looking for advice on consolidating debt and lowering average interest rate. I am married and our annual household income is about $110,000. Our mortgage company estimates our house at just over $400,000 and we currently owe around $235,500. The existing debt consolidation loan was used to pay off various medical debt. Credit Card 1 has bee…

Is paying off all my debt a good idea? Coming into enough money to get out of all my debt. I would be able to pay off car loan, all credit cards and my PL. My husband is telling me to do it in segments bc it will affect my credit score to be debt free. I would only have a mortgage left. Does this really matter? (My current score is 780) submitted by /u/OmgBsitka

Settling debt repercussions Hi there. Can anyone tell me what doing this will do to my credit score and will I be able to keep the cards that I don’t settle on. submitted by /u/Patri100ia

Drowning in debt and see no way to solve it Im 21m whos found himself in a really tough situation to a point where i just dont know and how im going to find myself out. Ive been employed earlier this year for couple months to then eventually realise I had been done over by my employer and wasnt going to be paid Ive been job hunting but due to how competitive things are havent been able to…

Currently Drowning in debt with no real hope 29 Male living in the midwest Currently making $50k a year. This could probably be a Dave Ramsey episode but here it goes: Also, I know how bad this is. lol I am not asking whether thats the case or not. I am moreso just looking for advice, plan of attack etc from different perspectives. I cant change the past, so I have to live with it and atta…

I have 20k debt and no idea how to get myself out Title basically says it all I’m screwed pretty hard and I accept the fact I did this to myself, any advise would be appreciated. Income: $1,361 biweekly Expenses: Car Payment: $250 Rent: $0 (I live at home with parents, this is a new arrangement) Phone: $27 Gas: $41 *Credit Cards: 12k (Discover: $7516.76 26.74% APR, Chase:$5333.72 0% APR for 1…

Paying debt vs savings vs 401k I moved to America 1.5 year ago and I’ve been trying to be more financially responsible since. I was really bad before and I’m trying to pay few loans off plus build some savings. I make $130.000/year plus should get 10% bonus. I live in an expensive city and my total housing costs is $3.500/month. I have $1.000 in a savings account and $90.000 …

Debt Collection and Settlement I have been contacted by Northstar Location Services because of a $1857 debt on a credit card I never was able to pay off at the time. They’re offering a settlement of $742. I am now in a place where I can pay off this debt, should I pay the settlement or is it better to pay the entire $1857? I’m super clueless how to go in this situation any in…

401K loan or withdrawal to pay down CC debt? I wanted to see what you guys think would be the best course of action to get rid of my CC debt. Scenario: Using YNAB for budgeting. I’m currently sitting about 20 – 25 days for Age of Money, so I’m not quite ‘paycheck to paycheck’. more like 2 ahead. But it’s still tight – no extra curricular activities or frivolous spending. Figures below are…

Need Help Prioritizing Personal Finances and Debt After Finally Ending 2-Year Unemployment I was laid off in November 2022 and struggled to get by on unemployment checks while unsuccessfully searching for another job. After UI ran out I went into heavy credit card debt and resorted to several personal loans to cover rent, bills, and expensive medical visits after losing health insurance coverage. Eventually had to also sell the car la…

Pay off debt or keep in savings until balance transfer promotion ends? Hello. I would welcome some thoughts if any on my situation. I have some debt that is now finally just under 10,000. I’ve paid a lot down to get to this point. Last year I had moved the debt to a new CC via transfer balance with 0% Apr which the promotion ends at the end of August 2025. As of the end of this year I anticipate just over 15k saved…

Tackle student loans after CC debt paid off? Hi everyone, I’m currently in the process of paying down about 4k worth of credit card debt, and I expect the process to take a couple months. With the uncertainty about student loans now up in the air (I am currently on the SAVE plan, at 0% interest) should I be applying for an IDR plan since that’s likely what I’ll have to get on anyway? Or ju…

Am I screwed? 26 year old with debt I am currently a 26 year old with 10k in credit card debt (0% interest for 10 months) and 17k in Student Loans ( ~4-5% interest). I have a 60k job with a take home pay of 3900 a month. Aside from this, I have a company 401k with approximately 3,500 saved. I was a stupid young kid with no vision of his future and so I am attempting to fix my wron…

Moving and in a lot of debt. What’s the best way to go about this? I’m in about $62,000 of debt. I’m about to move across the country and have no rent for a little bit. My issue is my minimums are $2,473 a month. I will be making $3,737/mo, this will later increase to about $5,737 but that will be a few months down the line. Here are my debts and their minimum. I’ve made stupid choices over the years, and it is…

Friend drowning in debt, asking me for financial advice I sat down with him and tried to make sense of his current situation. Here’s what I know: Relevant personal details about him: * 24M full-time graduate student with 1 part-time job * Recently and unexpectedly had to start paying his own tuition * Used his credit card to pay off said tuition, putting him thousands in CC debt and inflating his min…

Debt to Credit Ratio Is it better to pay down the high interest or low interest debt if the goal is to decrease my Debt to Credit Ratio? I’m thinking that payments to high interest loans will get lost more quickly due to interest payments than the lower interest loans. I have $117k in debt from 7 different lines of credit ranging in interest from 28% to 8%. My aver…

How to go about my financials, 30 with little debt Im 30 with my only debt being my phone bill and my car which has about 1,800 left on it to be paid off. I currently have 15k in my Savings Account. I also just recently resigned from my job, I used to work with federal government for about 5 years. My highest education level is community college in which I became an aircraft mechanic or A&P. I h…

Should I consolidate my debt? Hello, I am a 27 f and over the past two years have started using credit cards and loans for the first time. I have about 2500$ in credit card debit and loan debit. The payments on all are manageable but I really want to pay the everything off and have just one loan I pay on. For reference 1 credit card is maxed out at 200$, the other is maxed a…

I’m 22, have no debt, and a job paying about 55k a year. Where do I start? Howdy everyone. I’m in my first year of job working after college so no major shifts soon just getting my first two years of experience. The company I work with doesn’t match 401k but I will be moving to a new position that makes 70k annually in July. I just want to get my finances in order to one day buy a house and be financially free. Thanks …

Need advice: how to strategically pay off my high and low interest debt. My wife and I net $10k in monthly salary and pay $2k in housing and $1k in auto (payment, insurance, fuel). Specifically, we are struggling to find the best way to attack the bills below. We’ve put ourselves in an obviously uncomfortable situation and have nobody to blame but ourselves. Thankfully, we’ve both turned a corner mentally and are rea…