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Propaniac posted:Bankruptcy seems to be the only way out OP posted:We have freed up all areas of the budget that we can. Killed cable, killed my phone line (use work phone), killed a lot of other things which I can't even remember all to get us under our net income. Short of calling creditors, telling them that we're going to file BK and asking for no interest so we can pay the balances off, I can't think of anything at all we can do. quote:This is an easy comment to make, but getting rid of the cars would trash our credit (negative equity) and to break the lease on our apartment is cost prohibitive and not worth it since the lease will run out in about 7 months. Cost/benefit isn't there. 
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May 11, 2018 20:13
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I know it's easy to do and a certain amount of blame needs to be laid at the door of dealerships and banks but I am still amazed how many people get underwater on a car loan, especially for a run of the mill Chevy or other mid-tier station wagons crossovers.
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May 11, 2018 20:51
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I'm the $4500 on a goddamn Old Navy card at 24% interest
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May 11, 2018 21:10
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Raldikuk posted:I'm the $4500 on a goddamn Old Navy card at 24% interest How is it even possible to spend that much money there? I don't think a single thing in the entire store costs more than like $20
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May 11, 2018 21:12
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Store credit cards aren't limited to the store they're branded as, they're usually just rebranded major credit cards with a "perk" thrown in for the related business.
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May 11, 2018 21:15
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Always get a good chuckle when people buy $3,000 mattresses. Also, my assistant was excited about getting her daughter into a tumbling class or something. Maybe I"ll prod more and see if it's $20k a year.
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May 11, 2018 21:23
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tomapot posted:Where is her discretionary spending going? "My wife also has a LipSense business" It's worse than just that: quote:it isn't uncommon for a LulaRoe or equivalent box to be on our doorstep each day. We usually see a Lipsense box once to twice a week
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May 11, 2018 21:29
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I don't get the Sleep Number one. His current balance is higher than his starting balance. Jesus, how do people let themselves get into this sort of debt? Actually, how do credit companies let people get into this sort of debt? At what point does a CC tell someone no?
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May 11, 2018 21:38
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Bird in a Blender posted:Actually, how do credit companies let people get into this sort of debt? At what point does a CC tell someone no? Given that credit card companies main forms of income are A. Interest paid on debt, almost always at high levels, and B. Transaction fees charged while said people are adding to said debt, they don’t have a big incentive to stop people. I’m sure they make so much that uncollected debt via bankruptcy or whatever just isn’t a big enough issue to worry about. Go capitalism.
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May 11, 2018 21:58
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In Des Moines chat, I was comparing Iowa and MN taxes and there’s a window between $140k and $170k where Iowa has higher income taxes than MN, while outside that window they tax less. MN has a higher top rate, but it takes effect way higher than Iowa’s.
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May 11, 2018 22:02
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Propaniac posted:Bankruptcy seems to be the only way out $1700 a month in interest charges, got dam
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May 11, 2018 22:02
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Motronic posted:It's worse than just that: So she was into Multi-MLMs?
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May 11, 2018 22:13
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Bird in a Blender posted:I don't get the Sleep Number one. His current balance is higher than his starting balance. Jesus, how do people let themselves get into this sort of debt? Actually, how do credit companies let people get into this sort of debt? At what point does a CC tell someone no? They get into this debt by wanting to keep up with their peers and spending like they make five times what they actually do. And the credit card companies do it, because they'll make far more off BWM idiots paying the minimum interest payment for decades, than they'll lose when the idiots become GWM and declare bankruptcy. Even the most obvious "future bankruptcy" guy can still be a profitable lend if you get them for enough interest before they declare bankruptcy. The really scary poo poo is this line: School Loans: Deferred Even if he was somehow able to declare bankruptcy and get all their CC debt written off as uncollectible, it's just going to be replaced with school loan payments which are not dischargable in bankruptcy.
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May 11, 2018 22:14
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tomapot posted:So she was into Multi-MLMs? Synergistic downlines
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May 11, 2018 22:15
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The downlines are on the graph of their net worth.
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May 11, 2018 22:18
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crazypeltast52 posted:In Des Moines chat, I was comparing Iowa and MN taxes and there’s a window between $140k and $170k where Iowa has higher income taxes than MN, while outside that window they tax less. MN has a higher top rate, but it takes effect way higher than Iowa’s. What are your sales taxes like? Lots of local option stuff going on in DSM and the burbs.
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May 12, 2018 04:06
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Mods please change my name to "controversial Asian child"
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May 12, 2018 07:37
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Propaniac posted:Bankruptcy seems to be the only way out Holy poo poo as someone who is also expecting a baby this whole scenario is nightmare fuel. The $3,300 a month in minimum payments to credit cards, the deferred student loans. They both plan on working after the kid is here, so throw another $1k a month expense on there for child care. This kid is going to grow up not realizing he's poor until he finds out he has to take care of his parents when they retire because they were up to their eyeballs in debt with multiple bankruptcies under their belt.
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May 12, 2018 13:31
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Bankruptcy probably is the only option for them isn’t it? I’d think it’d be far more cost efficient.
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May 12, 2018 15:54
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Don't trust people, folks. Tying in to the conversation a few days back. https://www.thedenverchannel.com/news/contact7/contact7-couple-says-would-be-homebuyers-smeared-feces-caused-40k-worth-of-damage quote:
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May 12, 2018 17:04
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I mean, they were dumb as hell to agree to that, but that's loving horrific.
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May 12, 2018 17:10
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Aren't there a lot of gotchas with disclosures and realtors? I would think the "100% qualified" would be your basis for a lawsuit if they've got that in writing and if the agents knew the buyers were not in fact qualified. In this situation you just sue everyone and hope for the best. I mean, first you don't get into this situation. But if you're in this situation you make everyone hire a lawyer.
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May 12, 2018 17:35
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Liquid Communism posted:What are your sales taxes like? Lots of local option stuff going on in DSM and the burbs. Bad, but not on clothes for whatever reason. Also new thread title!
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May 12, 2018 17:38
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Krispy Wafer posted:Aren't there a lot of gotchas with disclosures and realtors? I would think the "100% qualified" would be your basis for a lawsuit if they've got that in writing and if the agents knew the buyers were not in fact qualified. Those contracts are entirely stacked towards the realtor, trust me. I mean sure, you can file suit for just about any reason, but there's no "gotcha" contractually that will peg the realtor down. Like I said a few pages ago, do never rent to buyers pre-close. Edit: the "qualified" or "pre-approved" process is just as much bullshit today as it was before the last housing crash. They are essentially meaningless. Nothing is guaranteed until the house purchase is closed. Ixian fucked around with this message at 17:41 on May 12, 2018 |
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May 12, 2018 17:39
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Liquid Communism posted:I mean, they were dumb as hell to agree to that, but that's loving horrific. I take it they didn't convert their insurance to landlord coverage. That was the real mistake. Also not prequalifying tenants and checking past landlord references is silly bad. Oh well, America is based on the fact that the dumb don't prosper, only the wicked.
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May 12, 2018 17:44
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Krispy Wafer posted:Aren't there a lot of gotchas with disclosures and realtors? I would think the "100% qualified" would be your basis for a lawsuit if they've got that in writing and if the agents knew the buyers were not in fact qualified. The realtors are never liable for anything even if they give you terrible advice which directly conflicts with your best interests. They generally do not have what would be considered a fiduciary relationship with a client and although licensing and ethics complaints can be made, as you might imagine the state licensure and professional associations primarily function as professional cartels rather than functioning in any strong capacity to regulate the profession and deter bad behavior or incompetence. They are only interested in getting paid and closing a deal, even if it's on terrible risky terms for the client. Also keep in mind that there are many, many real estate agents out there with little practical experience who only work one or two deals a year and might not even realize what a terrible idea something like this is.
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May 12, 2018 17:53
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Elephanthead posted:I take it they didn't convert their insurance to landlord coverage. That was the real mistake. Also not prequalifying tenants and checking past landlord references is silly bad. Oh well, America is based on the fact that the dumb don't prosper, only the wicked. Landlord insurance generally does not cover blatant vandalism. The police are right, it's a civil issue. The cost of doing business as a landlord (whether you intend to be in the business or not) is that professional bad tenants or just plain old crazy people can do a lot of damage to an expensive thing that you own.
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May 12, 2018 17:55
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BEHOLD: MY CAPE posted:The realtors are never liable for anything even if they give you terrible advice which directly conflicts with your best interests. They generally do not have what would be considered a fiduciary relationship with a client and although licensing and ethics complaints can be made, as you might imagine the state licensure and professional associations primarily function as professional cartels rather than functioning in any strong capacity to regulate the profession and deter bad behavior or incompetence. They are only interested in getting paid and closing a deal, even if it's on terrible risky terms for the client. Also keep in mind that there are many, many real estate agents out there with little practical experience who only work one or two deals a year and might not even realize what a terrible idea something like this is. Still sue everyone and hope the judge or jury has been hosed over by a realtor in the past and decides to forgo any judicial integrity. Also hire someone who can do search engine optimization and make sure pictures of your house come up whenever someone Googles anyone involved in this because at this stage you're just a crab dragging all the other crabs down with you.
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May 12, 2018 18:29
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Is all the poop and piss about some sort of misplaced revenge, or mental illness?
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May 12, 2018 18:32
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sleepy gary posted:Is all the poop and piss about some sort of misplaced revenge, or mental illness? i'm no psychiatrist but i think that, generally, mentally healthy people don't cover the inside of a house with poo poo and piss
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May 12, 2018 19:04
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Tell that to the president heyoo
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May 12, 2018 19:51
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sleepy gary posted:Is all the poop and piss about some sort of misplaced revenge, or mental illness? I'm guessing a combination of both.
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May 12, 2018 20:16
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Elephanthead posted:Oh well, America is based on the fact that the dumb don't prosper, only the wicked. The only solution for those poor naive homeowners is through the legal system, and the renters are probably judgement proof. So the only only real solution is wicked extra-judicial life ruining stuff that they probably don’t have the will or knowledge of how to do.
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May 12, 2018 20:29
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Unfortunately landlords are often shafted legally when it comes to bad tenants. I had a bad experience myself last year when I tried to rent out my apartment to a friend's cleaning guy & his wife. It started off fine but a few weeks in the rent payments stopped. I gave them a 30 day notice and they just straight up refused to leave. They wracked up hundreds of dollars in utilities and flooded my bathroom. The most frustrating thing was that the cops were powerless to help, saying I needed to pursue a lengthy court eviction process. I eventually agreed to pay them $2500 just to move the gently caress out without causing any more damage. Be careful with renters!
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May 12, 2018 20:45
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FateFree posted:Unfortunately landlords are often shafted legally when it comes to bad tenants. I had a bad experience myself last year when I tried to rent out my apartment to a friend's cleaning guy & his wife. Probably you spent less money and lost less rent than you would have evicting them with an attorney, especially if they were Professional Bad Tenants who were familiar with their rights and had the savvy to string along an eviction lawsuit until the last possible second. Tenant screening is everything. It is literally the thing that will make or break your experience as a landlord. Never give anybody a free pass on anything that seems suspicious or questionable, verify everything including background checks and income, and collect enough rent and liquidatable deposit to protect yourself a little bit against such a situation.
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May 12, 2018 21:10
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Jesus! Out of all the offers we had on our home nobody was trying to move in before closing, we took an offer that was the opposite. Sounds like an awful plan.
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May 12, 2018 21:49
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FateFree posted:Unfortunately landlords are often shafted legally when it comes to bad tenants. The law tends to err on the side of favoring tenants over landlords since one way someone is out some money, the other way someone (and their family) is homeless.
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May 12, 2018 22:33
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Harry posted:Always get a good chuckle when people buy $3,000 mattresses. we just bought a $3,000 mattress. I can afford half and it shuts her up for a while. Our 400 dollar memory foam futon is 10x more comfortable but she wanted some swanky one. You can't put a price on not arguing or having to hear about some loving mattress purchase. so like laugh away cause i see the absurdity. (USER WAS PUT ON PROBATION FOR THIS POST)
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May 13, 2018 00:00
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olylifter posted:we just bought a $3,000 mattress. I can afford half and it shuts her up for a while. Our 400 dollar memory foam futon is 10x more comfortable but she wanted some swanky one. You can't put a price on not arguing or having to hear about some loving mattress purchase. I seriously don't understand the $3k mattress thing. My company has been putting Caspers int he corp apartments and they are great. A California King is under $1600. I'm pretty sure I paid almost as much for the mattress/box spring I have at home and it's not nearly as good (and a queen at that). I've always gotten a slimy feeling about mattress sales/sellers. Pretty sure most of them spend 20% on actually making the thing and 80% on marketing.
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May 13, 2018 00:59
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Motronic posted:I've always gotten a slimy feeling about mattress sales/sellers. Pretty sure most of them spend 20% on actually making the thing and 80% on marketing. Scum all the way down.
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May 13, 2018 01:03
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