Which debt to tackle first? Hi all! Would appreciate your insights. Sorry for some minimal info as I’m trying to not expose too much. I have 2 credit cards with balance transfer promos. Card A: 0% for 12mos, 19.95% interest after. ~$6.4k balance owing. Minimum payment currently $117 Card B: 0% for 10mos, 12.99% interest after. ~$4.9k balance owing. Minimum payment curren…

drowning in debt- sos I’m a single parent to an almost 2 year old and I really need help as I want to set my child up with a really secure financial future and right now it just feels like a lot with all of my credit card debt. There’s so many things I want to do and I’m just struggling to financially make them happen one of these includes putting the child into dayc…

I am drowning in debt. I need help! I need help with my debt. I’m at a point where I have nothing left over at the end of the month or I get overdrafts. I know it was insanely dumb of me to get into so much debt but now I’m here and I just want to get out of it. I can drown in self hatred for getting myself into this mess or I can find a way to get out of it. I work full time and …

Marrying someone with large debt Hello folks, I have recently gotten engaged. Unfortunately, my partner has a large debt to the tune of over $175k. The majority of it is from student loans from a degree that was not finished. The loans are as follows: Private loan of $119k, 7.8% interest. Another private loan of $5k with 5% interest, CC of $6600, and a government loan of $45k w…

Debt is overwhelming me Hello, new to the sub and looking for advice. Please let me know if I am in the wrong place. I (M, 30) make around 140k a year. My wife makes around 45,000. Here is our monthly expenses/debt with 2 kids. Mortgage $2,984.09 Car Payment $533.31 Insurance $330.00 Retirement $450 Kids Fund $60 Electricity $180.00 TV $123.98 Daycare $1,100.00 Intern…

Debt vs. savings: the priority? If one has, say, 50k in muni bonds, earning about $2000/year (a guess) tax free, but one also has the same amount in debt with a minimum payment of $850/month, doesn’t it make the most sense to sell the bonds and kill the debt and interest expense, since the debt’s interest “outperforms” the growth of the bond? Edit: to clarify – the debt for th…

Best Loan Programs For Rolling Debt Into One? To start I am about $70k in debt between various personal and student loans and credit cards. Please be kind as a lot happened between 2020 and 2024 that landed me in this position. I am married, and thankfully my husband is debt free minus his car and our mortgage. I (on my own) make $4400 a month after taxes. $800 goes to our mortgage and then…

Found out i’m 7.8k in debt today. I got mail today saying that 200 dollars has been taken from my tax return, linked to me the university I was in a year ago. Called them and they redirected me to a debt collector who then told me that I am in fact 7.8k in debt from one semester at a state university. My FAFSA forms didn’t go through and they had been calling my mother to try an…

Home equity for CC debt? Wife and I have $90k debt between us, mostly credit card, high interest. We keep up with payments but min payments cost us $2300 a month. Thinking about taking $90k home equity loan at 8% to pay it off over 5-10 years. Would close all cards after they’re paid. We’re clearly not credit card people. House is worth $160k, we owe $25k on it. Always …

Why should I not consolidate debt into a home equity loan? I think I’m just misunderstanding how it works. I have ~$10k in credit card debt being charged ~21-25% interest across three cards I’ve paid $5k on my mortgage loan (17k in interest in two years), and $40k was the down payment, so I have ~$45k in equity right? When I started typing this for some reason I thought what I take out would become part…

What is the best way to pay down my debt I am a 23 year old making 82k in a MCOL city. I currently have 30k in Sallie Mae loans & 15k in federal loans. My rent + utilities are $1760 and I have a car payment of $475 per month. I’m considering the avalanche method but I’m not sure if anyone has any other advice, thanks! submitted by /u/173140

Deceased Parent Debt My mom died Aug 26 2023, I knew she had a HELOC loan, and went to WellsFargo to show her death certificate and any information they needed including her loan account number, SSN, drivers license, my DL, my SSN so that I could find out what to do next. They told me I wan’t officially on the loan so they couldn’t give me any more information. WF o…

I am drowning in debt and can’t afford my expenses My husband and I bring in about $9,500 a month net. We have no savings, I don’t have any retirement account, my husband does (and contributes about $600/month). We have 3 kids (8, 5, and 3 yrs old). We spend more than we bring in. My credit score has dropped from 850 to 600 in the last few months after purchasing our home. I was not on board wit…

Currently paying down all debt and I’m tackling this loan Since I’ve gotten a new job after college I’ve been spear heading paying off all debt. I’ve managed to pay down about 3,500 in credit card debt, as well as 1800 in personal loans. I’m currently on the last personal loan (I still have an auto loan of about 21,000 and student loans of about 38,000). This loan I got last august was 4,600 to pay for…

Getting out of Auto debt quicker Right now, my wife and I are in roughly $12,000 of car debt. We’re trying to save up a home down payment but l also want to get rid of this car debt. I’d be willing to sell the car and get something else that would lower or get rid of the debt but l’m roughly $1500 negative equity. My best solution would be to pay up to where l’m no longer in ne…

What % rate should be the cutoff to only make min payments om student debt? Currently have 85k in student debt, but they vary with public loans being 5.85% on average (35k), a private loan at 5.35%(40k) and a private loan I’m currently aggressively paying off at 11.35% (10k left). I’m definitely going to finish paying off the high interest debt, but unsure if I should make minimums on the other two or pay them off since…

$1,000 worth of credit card debt. Should I prioritize saving or paying off debt? My largest expenses are: Rent: $1,324 (plus about $100 dollars light and water) Car note: 400 Car insurance: $339 Credit card debt: $1,000 Student Loans: $20,000 Food: $126 ish Gas: $90 ish I make roughly around $43,000 a year (before takes). What do I do? submitted by /u/GetGreatB42Late

Medical Debt Guidance I have a medical debt from a surgery in Texas of about $3k. My insurance covered the surgery but i think this is the anesthesia (which is separate and not covered by my insurance cause out of network?) I’m not sure…. At the time the bill lapsed I was entangled in other paperwork related to the surgery and being laid off, moving etc…. I just …

How to get out of debt. I’m 28m need to get out of debt. How can I truly begin where I don’t even know half the things I pay. (I know it’s ridiculous) auto pay does the work for me. I make a substantial amount of money (125K in 2023) and live paycheck to paycheck. Now while on the surface that seems terrible I do how ever have basic expenses that are substantial. Da…

Keep the cash or pay the debt? Question for you all: If you had ~$3500 in checking and ~$2000 in credit card debt (14% interest). Bills paid, solid savings and retirement etc… Are you paying the cc debt off in full? Or keeping the liquid cash and paying the debt off over time ($500 per month, barring the CC being swiped again)? What’s your take? submitted by /u/TonyTar…