Topic 'Knee Deep in Debt, how to relief it by self?' in forum 'General Questions' - dslreports.com http://www.dslreports.com/forum/Knee-Deep-in-Debt-how-to-relief-it-by-self-23294279 en Sat, 11 Feb 2012 08:46:19 EDT Sat, 11 Feb 2012 08:46:19 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23681725 said by gregz:

That is not a service, but a necessity if owning a vehicle. It is built into your budget when you put down the 4 "walls" (Mortgage/Rent, Food, Transportation, Heat/Electric). For the OP, I can email you a good budget sheet that was done in Excel, that is in the Financial Peace Uni. book for Daveramsey.com.
you forgot water, trash :uhh:]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23681725 Thu, 21 Jan 2010 18:03:50 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23680270
1]More honset then the debt help companies.
2]gets creditors off of your back.
3]Backruptcy is on your credit report, but it doesn't mean the end of your credit. You'll have to rebuild it.

I went thru a debt company. They managed to get one of my creditors to drop 10 percent, if I paid the balance owed in full. Add to that the major cards like Citibank wont deal with them, but they will [citibank] deal with you.

Best thing i ever did was go thru bankruptcy. At my families income level we went thru a chapt 13, where we paid all our debt off.

Failing that look at Clark Howards site. He has advocates that can help you, for free.
--
I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23680270 Thu, 21 Jan 2010 14:20:28 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23679840
Any debtor would rather have some money rather than zero money. One woman from our church argued back and forth about ability to pay and the hospital finally settled her debt for about 30% of their billed rate as opposed to getting nothing. Just make sure you have a WRITTEN AGREEMENT BEFORE you hand over any payments. This is especially important for dealing with creditors over the phone.

Dave Ramsey has a free radio show, streamed online at daveramsey.com. Worth listening to if you have the time. Over a month or so you'll get just about the full range of options aired. ]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23679840 Thu, 21 Jan 2010 13:12:14 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23341353 said by bent:

said by Tamara Holme:

Dear Marcia,

1) You need to go to your local California Department of Social Services to determine what programs you qualify for. I know you are eligible for food stamps, medi-cal, low cost housing and relief from utility bill costs. I do not know even half of the programs for which you may be eligible.

2) Let the bastard's sue you! So what? There is no debtor's prison. Any attempts to attach wages can be defeated by your filing a claim of exemption. True, you could wipe out all your unsecured debts, except possibly student loans, through a U.S. Chapter 7 bankruptcy. But this is a dramatic action to which you are eligible to do only every seven years and your debt amount, while overwhelming to you, does not justify using your bankruptcy rights at this time. I discourage considering bankruptcy unless you owe over $100,000 in unsecured debt and your debt is greater than three times your annual earnings.

Write a letter to our creditors telling them you will not be repaying your debts until after you have a good paying job an a reasonable cushion of money. Invite them to sue you and agree to accept service of process so they need not retain annoying bothersome collection agencies.
Whoah. There's a TON of other factors other than debt:income and total debt to consider when contemplating BK. Home equity anyone? Yeah, let them sue you and go live under a bridge... :uhh: What's worse on your credit? A ton of unpaid judgments or a BK??
Tons of unpaid judgements is much worse compare to BK. Also collection agency can get judgement against which will be with you for long time. It's actually pretty easy to get credit card after you declare bankruptcy because you can't do it again for about 10 years]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23341353 Sat, 14 Nov 2009 15:19:11 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23341345 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23341345 Sat, 14 Nov 2009 15:16:34 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23340265 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23340265 Sat, 14 Nov 2009 09:54:50 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23337002 said by tcope:

Passing the buck onto someone else seems to be a hot topic tight now... as if this is something new and not been done over the past 200 years :uhh: . Even _if_ the OP were able to do this, and as mentioned the OP appears to be willing to address the problem themselves, the OP would not be the one to blame. If you want, blame it on our current administration or better yet, blame it on our form of government (as we all accept who is in power).
Speaking for myself, I'm convinced that politics has a lot less to do with it than human nature does. :)

Everyone, deep down, would love to be able to live at the expense of everyone else. Politics is merely the tool that makes such behavior possible. ;)

I would love to think that things would somehow be different if John Jackson had been elected rather than Jack Johnson, but alas, human nature would remain entirely unchanged.

(Although, for the record, I can vouch that I myself am upright, honest, and would never, ever, dream of taking advantage of a person/group of people. If you have any doubts about the veracity of that statement, just ask me, and I will assure you it's all true.) :hmm:
--
"I thought he was a piñata."

--Winner, Worst Legal Defense Award]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23337002 Fri, 13 Nov 2009 14:09:28 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23334794 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23334794 Fri, 13 Nov 2009 01:33:40 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23330944 said by Tamara Holme:

Dear Marcia,

1) You need to go to your local California Department of Social Services to determine what programs you qualify for. I know you are eligible for food stamps, medi-cal, low cost housing and relief from utility bill costs. I do not know even half of the programs for which you may be eligible.

2) Let the bastard's sue you! So what? There is no debtor's prison. Any attempts to attach wages can be defeated by your filing a claim of exemption. True, you could wipe out all your unsecured debts, except possibly student loans, through a U.S. Chapter 7 bankruptcy. But this is a dramatic action to which you are eligible to do only every seven years and your debt amount, while overwhelming to you, does not justify using your bankruptcy rights at this time. I discourage considering bankruptcy unless you owe over $100,000 in unsecured debt and your debt is greater than three times your annual earnings.

Write a letter to our creditors telling them you will not be repaying your debts until after you have a good paying job an a reasonable cushion of money. Invite them to sue you and agree to accept service of process so they need not retain annoying bothersome collection agencies.
Whoah. There's a TON of other factors other than debt:income and total debt to consider when contemplating BK. Home equity anyone? Yeah, let them sue you and go live under a bridge... :uhh: What's worse on your credit? A ton of unpaid judgments or a BK??
--
Greedy Old Pigs]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23330944 Thu, 12 Nov 2009 12:21:11 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23327189 said by disconnected :

said by gregz:

And what services would that be? There is no services that are mandated by law.
Public schools, roads, police, fire, burocracy slush funds, etc. ;)
Gee, I did not know that you paid that out of your paycheck to support your household. Next time, use a little thought, because those are services supported by the taxes taken out of your pay, not something that you pay out of pocket when you get the meager amount of nothing.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23327189 Wed, 11 Nov 2009 17:52:15 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326981 said by gregz:

And what services would that be? There is no services that are mandated by law.
Public schools, roads, police, fire, burocracy slush funds, etc. ;)]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326981 Wed, 11 Nov 2009 17:27:50 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326465 said by tcope:

I think its funny and sad that some people place themsevles so far above everyone else that they think the debtor always made bad choices. If a person can only make $25k a year, that barely pays for what is needed in life. Should they go month to month, year to year without _any_ luxuries? It's easy to say yes when you are making a lot more money and have a few bucks left over at the end of the month. But don't think you have all the answers just because you've been more fortunate. It only shows that you _don't_ understand the problem.
It does not show anyone doesn't understand the problem. I understand the problem just fine. You want luxuries? Go earn them. Don't charge them to your credit card and never attempt to pay them off. If you are paying off the debt its different, but many people just charge them and let the bank take the hit because they want a new plasma TV or whatever. Not right, at all.....]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326465 Wed, 11 Nov 2009 15:20:11 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326424
Passing the buck onto someone else seems to be a hot topic tight now... as if this is something new and not been done over the past 200 years :uhh: . Even _if_ the OP were able to do this, and as mentioned the OP appears to be willing to address the problem themselves, the OP would not be the one to blame. If you want, blame it on our current administration or better yet, blame it on our form of government (as we all accept who is in power). Funny how we tell the OP he/she should accept responsibility themselves yet so many people want to blame others for our national state of affairs. ;)]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23326424 Wed, 11 Nov 2009 15:12:28 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23325372 said by tcope:

As mentioned, some people are not as fortunate as others. Perhaps some bad decisions were made but I'm sure everyone reading this form has made bad decisions.
That's very likely true. However, I remain convinced that being able to pass on the costs of your own poor decision-making onto other people is not a good idea. You might feel differently, and please believe me when I tell you I have a long list of my mistakes standing by for you to start subsidizing. :D

said by tcope:

So before you get all high and might... look around and count your blessings. Just don't impose your morality onto others.
Anyone who shows a willingness to accept responsibility for (and pick up the tab for) their own mistakes (like the OP is doing) has my blessing, sir: it's not an easy thing to do, and it's certainly not a popular thing to do right now.

As long as I am not asked to subsidize anyone else's choices, (be they good, bad, or otherwise) I can assure you that any chances I might have to attempt to impose my morality (such as it is) on them are going to be few and far between. ]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23325372 Wed, 11 Nov 2009 11:52:47 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23325151
While I've not been in the OP's situation where unexpected medical bills arose, I've been without health insurance for a great many years simply because I could not afford it. I did own a $65k house with a mortgage payment of $700/month at the time. Could I have sold the home and rented for less? Sure. Then I could have afforded health insurance. I kept the house for 12 years and sold it for $220k. I got lucky. Now, did I make the right decision? Or did I get lucky that I did not have a major illness which derailed my financial situation?

As mentioned, some people are not as fortunate as others. Perhaps some bad decisions were made but I'm sure everyone reading this form has made bad decisions. So before you get all high and might... look around and count your blessings. Just don't impose your morality onto others.

OP, I'll offer some advise that others have not mentioned. Keep your head up and don't let your situation get the best of you. In this way you will be better equipped to deal with the situation. You probably need to make some tough decisions and cut back on your expenses but this does not mean you have to give up all the pleasures in life. Many things can be had for free. Take some time out of each day to do something enjoyable.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23325151 Wed, 11 Nov 2009 11:15:19 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23324077
1) You need to go to your local California Department of Social Services to determine what programs you qualify for. I know you are eligible for food stamps, medi-cal, low cost housing and relief from utility bill costs. I do not know even half of the programs for which you may be eligible.

2) Let the bastard's sue you! So what? There is no debtor's prison. Any attempts to attach wages can be defeated by your filing a claim of exemption. True, you could wipe out all your unsecured debts, except possibly student loans, through a U.S. Chapter 7 bankruptcy. But this is a dramatic action to which you are eligible to do only every seven years and your debt amount, while overwhelming to you, does not justify using your bankruptcy rights at this time. I discourage considering bankruptcy unless you owe over $100,000 in unsecured debt and your debt is greater than three times your annual earnings.

Write a letter to our creditors telling them you will not be repaying your debts until after you have a good paying job an a reasonable cushion of money. Invite them to sue you and agree to accept service of process so they need not retain annoying bothersome collection agencies.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23324077 Wed, 11 Nov 2009 06:05:05 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323960 said by disconnected :

Some services you can't cancel--they're mandated by law, and you have to pay for them whether you need them or not.
I use less than $25 of natural gas a month, but they force everyone to pay for atleast $25 of natural gas a month. I've heard there are utilities with much worse minimum usage charges.

Consider quiting your job and going on welfare/public housing.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323960 Wed, 11 Nov 2009 02:56:35 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323956 said by gregz:

When you are in crisis, credit scores are the least of worries. Problem is, people use credit scores like a status symbol.
People use them like a bank account to drawn down.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323956 Wed, 11 Nov 2009 02:52:37 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323005 See Profile, a breakdown of the numbers for 3 hypothetical debts, it's clear there's not significant difference in the total payoff dollars.

The major difference is, which method will work best for the op, marcia0 See Profile to reach her goal(s)? Many of the comments at the Dave Ramsey link seem to agree that the psychological lift from seeing some progress can be essential to sticking with whatever you're using.

edit: spelling]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23323005 Tue, 10 Nov 2009 21:40:40 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23318551 said by CmmTch:

I haven't crunched numbers, but the savings in interest by paying off the highest interest debts first may not be that significant when the overall debt service is considered. You need to free up some cash to keep increasing your payments. If you can't increase the amounts you're paying, then the quickest way to free up more cash is to pay the smallest one off first.

There is some psychological benefit too when you see some progress from your efforts, that alone may be enough to cause you to keep doing it.
I agree that psychology plays an important part in all this. At the same time, I can only hope that someone serious about climbing out of debt is going to sit down with a calculator and crunch the numbers for themselves.

This is a pretty decent write-up on a couple of different approaches to this:

»www.fivecentnickel.com/2005/05/0···at-math/

One of the comments at the end of the piece caught my eye, and it goes a long way toward explaining why DR takes the position that he does:

[quoting DR]


“We are more concerned with modifying behavior than correct mathematics,” he writes. “Being a certified nerd, I always used to start with making the math work. I have learned that the math does need to work, but sometimes motivation is more important than math. This is one of those times.”


Interesting stuff. :)
--
"I thought he was a piñata."

--Winner, Worst Legal Defense Award]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23318551 Tue, 10 Nov 2009 05:58:21 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23317321 said by Mr Neutron:

said by CmmTch:

If you are paying your debts right now with no missed payments there is one school of thought recommending paying the smallest off first. With the money you were using on that debt now freed up, devote it toward paying off the next smallest bill. The reasoning behind working from the smallest to largest is each time a debt is paid off you can add that money to paying off the next smallest debt. That should free up more money faster to add to the payments you make to each succeeding debt.
Won't this method of paying off debt cost you money if you don't factor in the interest rate you're being charged for each of these debts?

I can understand why that method would be beneficial from a psychological perspective (you can tell yourself that you're "making progress" fairly quickly). I'm just not clear on how it might work out if you view debt solely in terms of dollar amounts rather than considering the full cost to service a given debt.
It would certainly be less effective if all your debts are near to the same amount for each one. That may not be the case for marcia, and probably isn't the case most of the time. As the first one is paid off all the money that was going to that one is added to the payment on the next one, that one will be paid off much quicker due to the additional moneys being used. Paying it off quicker will save on the debt service.

I haven't crunched numbers, but the savings in interest by paying off the highest interest debts first may not be that significant when the overall debt service is considered. You need to free up some cash to keep increasing your payments. If you can't increase the amounts you're paying, then the quickest way to free up more cash is to pay the smallest one off first.

There is some psychological benefit too when you see some progress from your efforts, that alone may be enough to cause you to keep doing it.

This is one way, and like many others it will work only if you're able to stick with your plan. ]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23317321 Mon, 09 Nov 2009 21:09:57 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23317177
If you're really under a debt that you cannot get out of, it would certainly behoove you to give em a call, because, while it may hurt your credit scores, they'll generally give you much better rates to try to get it payed off.
--
{Send Secure Notes Free and Easily} :: whisperBot.com]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23317177 Mon, 09 Nov 2009 20:46:46 EDT Re: Just make sure..... http://www.dslreports.com/forum/Re-Just-make-sure-23315470 said by Maccawolf:

said by marcia0:

only strict discipline and whole knowledge about it can take us out.

Strict discipline is not necessary. A BRAIN is......
Oh, NOW you tell me! :( :)
--
"I thought he was a piñata."

--Winner, Worst Legal Defense Award]]> http://www.dslreports.com/forum/Re-Just-make-sure-23315470 Mon, 09 Nov 2009 15:30:58 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23315466 said by CmmTch:

If you are paying your debts right now with no missed payments there is one school of thought recommending paying the smallest off first. With the money you were using on that debt now freed up, devote it toward paying off the next smallest bill. The reasoning behind working from the smallest to largest is each time a debt is paid off you can add that money to paying off the next smallest debt. That should free up more money faster to add to the payments you make to each succeeding debt. Won't this method of paying off debt cost you money if you don't factor in the interest rate you're being charged for each of these debts?

I can understand why that method would be beneficial from a psychological perspective (you can tell yourself that you're "making progress" fairly quickly). I'm just not clear on how it might work out if you view debt solely in terms of dollar amounts rather than considering the full cost to service a given debt.
--
"I thought he was a piñata."

--Winner, Worst Legal Defense Award]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23315466 Mon, 09 Nov 2009 15:30:07 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23315041 said by gregz:

Why buy Quicken, when there are free sites that give you the same stuff, along with budge templates.
I get it for the integration with my online banking. Free is not always good, or secure.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23315041 Mon, 09 Nov 2009 14:05:32 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23312447 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23312447 Sun, 08 Nov 2009 22:57:09 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23306135
If you can't come to terms, stop the bleeding and declare BK.
Don't make the mistake of declaring bankruptcy after you spend all your cash.

Don't bother paying any debts that might be close to 7 years old, avoid process servers.

»www.nytimes.com/2009/05/16/your-···sel.html

»www.nytimes.com/2009/01/03/busin···nted=all

»shenwick.blogspot.com/2009/01/ny···-to.html]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23306135 Sat, 07 Nov 2009 12:06:29 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305432 said by gregz:

Between you and the other stirrer, this has nothing to do with the original topic, which ran itself out about four posts ago. If you want to stir the pot, do it somewhere else. As stated, If you do not own a car, insurance is not required. If you own a car, you HAVE to have car insurance to operate. Majority of the states require that you carry auto insurance.

As for the cellphone & CATV, there are people out there that feel that it is their needed ability to always have when in a crisis such as deep in debt.
you should search googlethere is 2 or 3 states were you do not need auto insurance to to operate a car :uhh:

GOOGLE IT
»lmgtfy.com/?q=%22In+what+state+c···ce%3F%22]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305432 Sat, 07 Nov 2009 07:57:27 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305417
As for the cellphone & CATV, there are people out there that feel that it is their needed ability to always have when in a crisis such as deep in debt.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305417 Sat, 07 Nov 2009 07:44:49 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305338 said by gregz:

First came to mind was Cellphone & CATV. Insurance is not a service, but a requirement if you own or operate a motor vehicle. Falls under the Transportation part of the budget. Also, shopping around helps in saving on insurance, especially when companies like AmFam, etc can raise rates depending on your credit report.
What states require that you have a cellphone and cable tv?]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305338 Sat, 07 Nov 2009 06:20:25 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305302 said by gregz:

said by Anonymous_:

said by gregz:

First came to mind was Cellphone & CATV. Insurance is not a service, but a requirement if you own or operate a motor vehicle. Falls under the Transportation part of the budget. Also, shopping around helps in saving on insurance, especially when companies like AmFam, etc can raise rates depending on your credit report.
Not a requirement in all states
Hmmn, last time I checked, it a law that you have to have proof of insurance. No proof, pay the piper.
Not in all states there is a few that DO NOT require ]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23305302 Sat, 07 Nov 2009 05:19:50 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304210 said by Anonymous_:

said by gregz:

First came to mind was Cellphone & CATV. Insurance is not a service, but a requirement if you own or operate a motor vehicle. Falls under the Transportation part of the budget. Also, shopping around helps in saving on insurance, especially when companies like AmFam, etc can raise rates depending on your credit report.
Not a requirement in all states
Hmmn, last time I checked, it a law that you have to have proof of insurance. No proof, pay the piper.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304210 Fri, 06 Nov 2009 20:38:33 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304203 said by gregz:

First came to mind was Cellphone & CATV. Insurance is not a service, but a requirement if you own or operate a motor vehicle. Falls under the Transportation part of the budget. Also, shopping around helps in saving on insurance, especially when companies like AmFam, etc can raise rates depending on your credit report.
Not a requirement in all states]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304203 Fri, 06 Nov 2009 20:37:09 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304072 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304072 Fri, 06 Nov 2009 20:02:38 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304065 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304065 Fri, 06 Nov 2009 20:01:15 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304021 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23304021 Fri, 06 Nov 2009 19:49:16 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303840 said by gregz:

That is not a service, but a necessity if owning a vehicle. It is built into your budget when you put down the 4 "walls" (Mortgage/Rent, Food, Transportation, Heat/Electric). For the OP, I can email you a good budget sheet that was done in Excel, that is in the Financial Peace Uni. book for Daveramsey.com.
I thought that was what he was referencing to. What else could he be talking about that is required by the govt?]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303840 Fri, 06 Nov 2009 19:10:15 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303789 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303789 Fri, 06 Nov 2009 18:55:49 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303649 We tried a few times even spoke to the manager.. no go.
So we went and filed chapt 13. and have been enjoying not having a CC to use ever since.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303649 Fri, 06 Nov 2009 18:20:37 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303640
I have read of people having near perfect credit scores within 5 years after comming outta bankruptcy.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23303640 Fri, 06 Nov 2009 18:18:26 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302923 said by gregz:

And what services would that be? There is no services that are mandated by law.
I think he means auto insurance.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302923 Fri, 06 Nov 2009 15:36:23 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302842
Simple Example:
Debts:

Credit Card A 23% Min Pay $300
Credit Card B 15% $100
Car Loan 8% $225
Mortgage 6% $1200.00

Extra money you can commit to paying down debt each month - $150 (from cutting out all except necessities)

You now pay $450.00 per month on Credit Card A. When it's paid off you start paying $550.00 on Credit Card B. After that $775 on the Car. After that, add some of the nice to haves back in but still pay extra towards the principal of your mortgage.

Go here and enter your info. It will spit out a plan for you. I change the car payment to 485 and entered the above into assuming the $150.00 extra to pay. Totally debt free including a mortgage with $145.000 left to pay off, CCS 15,000, CCB 5,000, Car 28,000, in 10 Years. No raises to income assumed and used the 15% tax bracket.

»www.bankrate.com/calculators/man···tor.aspx

I was disappointied it didn't spit the Interest Savings out. Trust me though, it's huge! And by about March of 2014, you only have the mortgage left and are paying over $1000 extra towards the principal. By the middle of 2019, you are debt free and can start putting ~$2200.00 in wise investments every month. That's 26,400 a year and 264,000 in 10. Add in the gains of the investment and you are pretty well off in 20 years.

It's often wise to get out of any 401K contributions and pay your debts down. You just have to do the math carefully. I doubt many company matches + gains are going to top the 23% on the first credit card in our example. If that would be the case, you stop contributing, get the money in your check, and pay it directly to your debts.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302842 Fri, 06 Nov 2009 15:20:55 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302096 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23302096 Fri, 06 Nov 2009 13:12:29 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301627
My DMP plan had me scheduled to pay off my creditors in 5 years. I managed to complete the plan in under 4 and now have perfect credit. I was able to purchase a new home and obtain several credit cards with substantial credit lines. By using the DMP and living without credit while on it, I have learned how to better use the credit offered to me now.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301627 Fri, 06 Nov 2009 11:55:37 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301172 http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301172 Fri, 06 Nov 2009 10:42:44 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301101 said by marcia0:

but that'll hamper "credit scores"
If you were a client of CCCS your credit is already "hampered".]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23301101 Fri, 06 Nov 2009 10:25:38 EDT Re: Knee Deep in Debt, how to relief it by self? http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23300739 I have no voluntary debts--no credit cards, no mortgage, no loans. My only 'debt' is property taxes. That's my single largest expense in fact. Bigger than electricity, heating oil and gas for the car, combined. When we can eliminate THAT debt, we'll ALL be living much better.]]> http://www.dslreports.com/forum/Re-Knee-Deep-in-Debt-how-to-relief-it-by-self-23300739 Fri, 06 Nov 2009 10:09:29 EDT