32 with 35k in debt, 0 savings and am scared as hell Hi all 👋🏼 as you can tell by the title I am in absolute shambles. I just started the highest paying job I’ve ever had. It’s not much but I should average anywhere from 4,200-5,200 a month and want to map out the next year or so maybe—just maybe I can get my life in order to some degree. Please if there are any professionals or those who have re…

What would you do with no debt & good credit? So I have a credit score of over 800, and zero debt, and I finally own my house outright. I’m 42, so I’m still in the work force and have some time before the traditional retirement age. Should I buy some rental properties, or invest in the stock market, or something else? What would be my best financial strategy at this point? submitted by…

Should I empty my savings to pay off debt? Long story short, I (27m) got sober at 21 after maxing cards and emptying everything. I have 3 loans. 1 is $4500 that was for my credit cards (loan through credit union) $295 a month. 1 is another consolidation loan ($3600) $163 a month. And another was a stupid personal loan that’s like $120 a month or so for $1500. I have $3,600 in checking…

74yo Mom had a stroke, trying to get her debt under control while she recovers Hi folks, new here. Looking for some advice on the best approach to dealing with my mom’s finances. She just got moved to rehab today, she is stable and able to walk and talk, but most of her speech still does not make sense. Recovery will take a while. My brother (33) and Mom live together in a house Mom has a mortage on (~$1600/mo). They have …

In debt, not sure if I can pay it off I’m stupid and managed to get myself in 2.4k worth of debt at the age of 21 and have no idea how to get out of it. I earn about £800 a month depending on my shift patterns. All of these are to be paid within a year. Please help me organize this chaos. credit card: £400 Argos credit: £1258.99 Very: £355.40 Klarna: £606.94 (£400 is being paid this…

Can I help my dad with his debt? My dad is 61 and has about $900k in debt across three mortgages (M1: $500k, M2: $270k, M3: $80k), a car loan ($15k left), and an RV loan ($25k left). He earns $10k/month from military retirement + disability and $15k/month from his job. My stepmom doesn’t work, and my sister (who lives with him) works but also has a child to support. He has $60k…

401k loan to pay down cc debt? I have $15k in credit card debt -capital one-$7800 of $8k limit-28% -capital one – $3400 of $3500 limit-24% -discover – $4500 of $5k -0% interest until Feb 2026 Car loan- $32k bal-$790 monthly-9% interest Rent- $1500 Utilities-$300 Food-$400 Insurance-$280 Checking-$1500 Savings-$4k 401k-$17k ($8k available for loan at 8% interest rate-$77 per m…

26 year old student, should I look into a debt consolidation loan? I’m 26 with 740 credit score and make around $30k a year. I work full time and I’m in college part time. I have about 10k in credit card debt at a 20% interest rate with discover. I own a 2019 Toyota Corolla and owe about $5,000 on this vehicle at a 3% rate. I also have $4,000 in student loans from before I qualified for the Pell grant, now my s…

25k in debt and worried. Hello, I recently learned that my school debt was sent to the department of revenue. This was a suprise to me as my school had promised that this would not occur due to the fact that my school was supposed to be funded by my military beniftits, which were taking a while to come through. This new debt is 15k. My total debt will be as follows: 15…

6 Months Income – Pay off 15k Debt or Invest? Howdy everyone. I’m posting this on r/FinancialPlanning and r/personalFinance since I wasn’t sure where to pose this question. For reference, I’m in my early 20s. Basically, I’m trying to figure out how to budget for the next six months. I’m able to live essentially rent-free and have a lot of my expenses covered during that time before I have t…

Fraudulent collections debt I recently checked my credit report and realized that I have a collections debt for $2k for an original debt with AT&T. But I have never used at&t in my life. I froze my credit report on all 3 agencies and started online disputes through 2 of them. I have also tried getting in contact with AT&T directly but they are not connecting me w a live re…

Bank says I still owe them even though I paid in full to debt collector I had a personal loan through a credit union and it was given to a collection agency when I went delinquent on it back in 2020. I eventually paid it off in full in 2022 but it remains on my credit saying it still has a balance so I thought maybe I had missed something and I contacted the credit union back in October and they said I had to pay th…

Ok to temporarily lower 401k to pay off debt and build up emergency fund? 29M and currently have $110,000 in Roth 401(k). I currently contribute 12% I plan on maxing out my 401k once I turn 31 (and will continue to max it until retirement) but right now I feel like I need to lower my contributions so I can pay off some debt and build up more of an emergency fund that I’m comfortable with. Was planning on lowering my …

I have $4000 in student loan debt but want to go back to school. I am currently attempting to go back to school through MassEducate program (free community college for those who qualify) 11-12 years ago I tried to go an after high certificate program. My dad passed away right before i graduated high school, and i grew up in a fairly lower middle-class town in MA. I ended up not completing and took out $4190 …

Help with my options for debt consolidation! I’m trying to get a loan for debt consolidation (to settle 19k in cc debt), but I was denied for all of them. To give a little context to my story: in March, I bought a house using the FHA program. A month later, all my credit card accounts (five) with Synchrony Bank were closed. I had around $25,000 in credit limits and about $2,000 used across…

Debt Pay down Strategy I currently have around 38K in credit card debt, that I am focused on paying down. One of the cards that I currently have was a balance transfer that I used to combine some debt already. I am looking to more aggressively pay down this debt as I want to buy a home in the next few years and currently use the debt snowball method. I’m wondering if…

Advice on Helping My Parents Manage Debt and Financial Decisions Hi, Reddit! I’m looking for advice on how to help my parents with their finances. They’re considering withdrawing from their 401(k) to pay off some debt, but I’m concerned about how this could impact their long-term financial security, especially considering their ages (71 and 61). Here’s what I know about their financial situation so far: – Tot…

50k debt is crushing me. I have a 40k debt to someone, and 5k debt in credit cards with 30-50% interest. I have $0 to my name. I fell in a severe gambling addiction. Now seeking help for it. I work fulltime, I get 3k monthly and no idea how im supposed to pay off 45k worth of debt in a year. Especially the 5k debt with alot of interest. The 5k debt is crushing me hard …

It’s the debt, and it’s the regret. At the moment, I (42 M) have about $108K total debts. About half is CC, the other half is student debt. I’m on PSLF, but I expect that to be taken away at some point, so I’m not counting on ever having forgiveness. Right now I’m working full time, making $88K per year. I rent and have no savings, thus no ability to acquire property. If I continu…

$3,800 in debt. I now have the money but I need help. (Backstory/ throwaway acc because I have shame) Hello Reddit. Basically about 2 years ago I became homeless after some very unfortunate events occurred and all possible housing situations crumbled. A year prior to that, I had one of those Interest free for a year BOA credit cards and as my first CC it was nice. I had a $1500 credit limit so I’d …