Over 50k worth of debt at 25. I make an ok amount of money at my age. About 57k a year. Bringing home 1785 every 2 weeks after taxes. I do put into a retirement. I have 9 credit cards, 2 lasik bills, tattoo removal and invisaline (no interest on this and it will be paid off in august). I have 36k left on my car. And my car insurance is about $270 a month. Im not worried abo…

Looking for advice on $86k debt payoff Recent college grad beginning the process of debt payoff. Student loans are finally starting to hit after graduation and I have to face the hole I’ve dug myself into Private loans – $25,000 13.25%, $500/month Private loans – $21,290 6%, $270/month Gov’t loans – $22,560 0% (forbearance) Credit cards – $16,000 @ 12% , $600/month Car loan – $1,200 …

school and furniture debt I am currently attempting to go to CNA school at a community college, total being a little over 1.4k, Problem is I have a couch loan im paying off that takes 30 dollars a week that i financed when I was getting paid weekly with a 60 dollar late fee, I currently get paid biweekly at a 15.75 rate and am barely scraping by and can’t get more hours …

Should I downgrade my car to pay off debt? I own a 2018 Kia Niro with 85K miles and it has been extremely reliable and low maintenance so far. I also have a $13K personal loan and $4k in credit card debt that I would like to pay off as quickly as possible, especially with the uncertain economic future. The car is currently worth about $13K right now and I was thinking of trading it in fo…

Should I just put a big dent in my savings and wipe out my student debt? I have 13k in savings. I owe $7,800 on my MBA. that’s it, that’s my only debt in this world. Would it be smart to just move $7,800 to checking and wipe out my student debt immediately? They have me set up paying $98 per month until like 2033 at 5% interest. I don’t struggle to set aside the $98 per month, but it’s an annoying thing and I’m jus…

Should I cash out part of my 401k to pay off debt? (30 M) I recently found out I have a 401k from my last job with 30k in it. I didn’t realize it existed up until recently. Ive been planning on merging it with my current job 401k (about 60k) but things have been tight this year and if I could pay off some of my monthly bills (car for 12k, CC for 2k) it’d make my life (and my wife) and lot happie…

Trying to make a plan for my mother to pay her debt I was just informed by my mother that she is carrying about 29k in CC debt. She (late 60s) is on social security and is unable to work. After the necessities (meds/insurance/food) she’s left with about 500 bucks to put twords debt every month. She has 25k in savings and is willing to part with some of it. I’m trying to make a pay off plan for he…

Paying off all student loan debt by selling stock? Graduated from law school X years ago. Took out $180K and have made roughly 13 years of payments, always on some income contingent plan. My loans have ballooned to $271K (after already paying nearly $150K). Current balance is $261K with $10K in accrued interest (for the total of 271K) I have my finger on the trigger to sell my non retirement sto…

Debt collection letter received from hospital after volunteering for double-blind study A Dr. at Johns Hopkins was running a double-blind study on the efficacy of using botox to treat scoliosis and as I have a daughter with scoliosis we volunteered. Fast forward several months and I’ve received over a $1k in medical bills; we discussed there being some costs if we had to do imaging (we did, 2 xrays) but these are hospital and speci…

20yo, no rent, and $1,200 in debt. I’m 20 years old now, and I made some stupid decisions and got payday loans. I owe about 1,200 in debt with $0. I live in my car and I have 1 job ( cashier ) that pays for my car only and nothing else. Any tips on resetting my life and living a comfortable life ?( Had 2 jobs but i got laid off from one ) submitted by /u/jrheee1 …

I’m going through a divorce and need financial help with debt. Here is my debt. Credit Card 1: $7189.45 Credit Card 2: $6690.48 Personal Loan: $3080.77 Camper Loan: $18,534.05 Cash on hand: $10,364.71 Equity in home: $131,425 First I know I messed up with the camper and Credit cards. I was trying to buy happiness with a person who didn’t want to be happy with me. I did dumb things for what I thought was lov…

LPT: Do NOT pay the unsecured debt of a dead spouse/person if it is not in your name – Home Improvements/Bath Renovations/Etc. Background: I work for a large financial institution that provides loans for home improvements. Maybe you’ve seen commercials on TV or the internet for: New Windows Remodeled Bath Roof or Water Heaters/AC Units Etc. Every day, I receive calls from spouses or family members making bill inquiries after someone has died. Often, they are simply s…

CC Debt Consolidation Any advice on best way to consolidate CC debt into a lower interest rate loan? Is there a better lender than others or just go with the lowest rate? Never done this before, but the CC interest rate is just insane right now and I need to find a better option. submitted by /u/TeachLanky

Taking HELOC to Payoff Debt As the title suggests, my wife and I are trying to brainstorm creative options to paying off our bad debt. We have about 80k I’d like to consolidate and payoff and was weighing the options. One of which being a HELOC with the equity in our home. Anyone else done this or have thoughts? submitted by /u/ShakeandBake428

Why The US Will Never Pay Off Its Debt submitted by /u/sonic_75

Looking for help paying down CC debt So due to both my own actions and things I couldn’t avoid (looking at you medical bills) I am currently running about 23K in CC debt with interest that gets added on each month somewhere around 150-200. I am trying to find ways to consolidate these 2 credit cards and pay this down faster. My first thoughts were either look for somewhere that I c…

I’m so in debt from this hellscape of a year. Now what? Hi, This year has been tough to say the least. Between switching jobs, getting residential treatment for a medical condition, my father dying unexpectedly with no will/assets or life insurance, and an 10 day hospital stay (all of which resulted in significant unpaid time off of work), my family is destitute and in massive amounts of debt. Debt:…

My grandfather (82yr M) has no savings and debt. What should he do Hello, My grandpa lost his job after getting Covid in 2021 and was unable to continue working after spending 3months in the hospital. He has stopped working since and has no pension. He receives social security for about 1600 dollars a month. My mother helps support him with food, but he has a mortgage loan and a home equity loan still present. …

How to get out of debt quicker? Total amounts for each credit card: American Express $186.86 Discover $401.41 Sephora $256.17 Capital One $1692.67 Monthly payments for each credit card: American Express $40 Discover $35 Sephora $40 Capital One $57 I’m paying the minimum payments on each card, that’s all I can afford at the moment. However, when I can afford to pay more, what…

When to time large student debt payoff Well I have officially given up any expectation of federal debt relief and will take advantage of the accumulated savings during the pause. I plan on paying a large chunk of my high interest loans off, in the neighborhood of $20,000. Is there any reason I should do it now or in the new year? My reported income for 2024 will be about 20% higher t…