How to help my mom? $75k+ in debt outside of mortgage with delinquent accounts Recently a few things have happened that have clued me in that mom is way in over her head when it comes to finances. I finally sat down on video call (we live somewhat far apart) and she gave me what information she could. I’m really worried about her. 3 credit card with extremely high APR Card 1: $11,962 at 29.99% Card 2: $749 at 21.25% Card …

Sell house to pay all debt We are considering to sell our house and use the profits to get out of debt. We lost one income so we are very tight right now with our bills. We owe $166k and houses in our area are selling for $475-500k. We want to buy a condo cash in the area we like for about $250k We have a 3 car loans for a total of $108k. Our current house is 5 bedrooms …

Retirement and debt scenario Settle this argument we are having at work! Would you rather be debt free and own your house with a measly $10k for retirement OR have $50k in miscellaneous debt, owe $150k on the house but have $100k for retirement. Both scenarios have a $90k income at age 45. submitted by /u/verticaltrader

401K vs Debt – how to know where to pay more? Very much a newbie to the grown-up world, and yes, I’ve read many articles, forums, and done research into this, but I’m still very confused. I grew up in poverty and am a first-generation college grad with lots of debt. You name it, I probably have the debt. Student loans (federal and private), car financing, personal loans, some credit card de…

Feel like I can’t pay off my debt. I’m 25 and used to be extremely irresponsible with my money, I’ve been trying to pay off my cards for years now with quite literally no progress. I have 2 credit cards and an auto loan. Idk who’s idea was it to give a 19 year old a credit card with a 5600 dollar limit but they did. I got another card in hopes to transfer the money over with a 1 …

Unsure how to proceed with lowering debt and making budget work As the title says, I’m having a hard time deciding best on how to lower debt to make the budget work. I’ve provided some details and specifics below and just wanted to get some thoughts and opinions on how to proceed. I’m 24(m), married (23(f)) with 2 kids under 2 years old. I work full time and make $54k/year before taxes. The wife was laid off…

Debt load too high, sell off assets to fix credit? My total debt load is rather high tbh, it’s approximately 16.8k (long story, but ex relationship runied my life & credit pllus bad health too in general). My debt load includes an auto loan with 4.5k left on it, 10.3k in credit card debt, and 2k in medical. I have a bond portfolio worth approximately 18-20k on the books liquid assets wise. To gi…

Debt question related to 401k I’ve made financial mistakes. I only have 20k in a 401k that I don’t contribute to anymore from my old job. I am nearly 38. I have 15 k in credit card debt. I have a new 401k from my new job for the past year that I don’t have access to yet bc the broker says I have two accounts and the merge is taking time. I’ve been considering cashing out th…

What do I do if my Mom is in debt? My brothers and I are very worried for our mom she has her own shop that had a stable income few years ago and today that online shopping is very popular her income is incredibly low to the point that she’s indebt, she’s been borrowing money from other people until she doesn’t know anymore people to borrow from, she used up all the money that sh…

In debt at 23 years old Hey, so I’m 23 years old with ~9000 in credit card debt. I’m in tech sales, with a base of 2,800/month plus commission which can vary from 2k-5k each month. I had cancer around 2 years ago and all of this debt is still from that time I couldn’t work. My other expenses are rent, utilities,insurance, and phone totaling to about 2000/month combined…

31 yr. old hospital Debt question I am an advanced senior (83) in Florida with a 31 yr. old hospital debt, which I was paying a small amount monthly to a collection agency since inception. Now, they have stopped billing me. What does this mean? Should I ignore it? Call them? Still owe over $ 16,000.00. submitted by /u/Fresh_Night_8269

Save or Pay off Debt I’m 24y/o and currently debating on spending my savings on paying down my student loan debt. I started this year with 28k in student loan debt, and with the help of my job I was able to pay off about 10k. I was also able to save about 10k and put it in a high yield savings account. I currently live at home with my parents, and am able to continu…

‘Mr. Inbetween’ — Ray Collects on a Debt submitted by /u/RealJohnGillman

I’m in a position where I can’t pay my debt, what are my options? Long story short, I have about ~$36k in credit card debt and I’m no longer able to make payments. I lost my job last year and due to my disability I’ve had a hard time finding another (I’m going through the disability application process but it’s moving very slowly). I’ve been debating filing for bankruptcy, but my one holdup is that I have join…

Should I pay off my debt? I currently have around $30k in credit card debt spread over 8 accounts with the highest balance just under $10k and some as low as $1k. I work as a 1099 contractor doing sales. I made a couple good commissions, and I have $40k to be paid at my discretion. So I can cash it all immediately, or stretch it out to be paid in payments etc. *Note this…

Private student debt advice Posting this because I realized that I’m financially illiterate. I recently graduated and have accepted a medical school invite, however I am currently strapped with a $15k personal car loan and $10k in credit card debt that occurred over the course of college. My goal is to simply place this money in an account that I do not have to worry abou…

25k cc debt, 28k savings, what to do next? I’m 30F, worked as a travel nurse the last several years and just spent a lot of money as I made it. I know I’ll have to pay off my credit card debt ASAP but wondering in what way I should pay them off. I have: – 28k in savings – a credit card that will balance transfer up to 15K with 0% promotional APR until August 2025 + 5% transfer fee (not …

Will I not land this job because of my debt? Hey folks I’m 23 and I have a shot at a very big job to me. It’s a loan officer related position and they ran my credit history for a background check. I have $20k in student loans and about $4k in credit cards. I live in California by the way… Is this gonna stop me from landing that job? I already signed the job offer, had great interviews, and…

In debt at 20 years old Hello, I will start off by saying that i am not a citizen of the US, some of the tax/retirement plans and stuff do not apply to me. I will start with saying that I am around 9300 USD in debt, that is around 25K in my country’s currency. I make around 1000-1200 USD a month and pay around 400$ every month towards the loans. Rest of my paycheck goe…

Best Strategy to Pay Off Debt- 63K debt and 85K savings TLDR I am 27 years old, have 85k in Vanguard from inheritance and I have a car loan for 60K at 7.39%. I take home 6400 monthly. Do I keep making monthly payments or do I use my vanguard to wipe it out So as stated above, I take home $6400 monthly, and I have minimal living expenses due to my work paying housing for me. I have 85K in vanguard tha…