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I stupidly posted my own thread, not realizing that this was a simple questions thread. I'm going to cross-post here: First here's a quick snapshot of my current financial situation: code:I'm looking for some way to either consolidate or refinance that loan (or all of the high interest ones) Of course searching for things like "refinance school loan" in Google is prime search material for every ripoff company under the sun from what I've seen. Could anyone point me in the direction of way to lower those payments?
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Mar 15, 2010 21:08
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TortillaFactory posted:Not sure if this fits here, but it's kind of a small/dumb question that doesn't really deserve its own thread. Apparently NCO does this a lot? I had a "debt" with them from a power company I hadn't been a customer of for years. NCO/FIN99 collecting on behalf of the company on my credit report. Opened a dispute with the bureaus and oddly, they couldn't prove it. Keep an eye on your credit report, they will hit you there too.
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Mar 15, 2010 22:20
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Kai was taken posted:Not sure if this is the right thread, but does anybody have an opinion on the Amex Clear/Blue card for a first credit card? I have an Amex blue, I have no complaints so far (I've had it just over a year). I always figured amex wasn't a company someone without a decent credit score could get though.
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Apr 18, 2010 15:04
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moana posted:You can go to annualcreditreport.com and order your credit history from each of the three companies for free once per year. This will tell you what's on your history and if there's anything shady. For your FICO score (the credit score most people talk about) you'll have to pay extra, or you can use one of the free estimators out there like quizzle. I don't believe checking your own score counts as a hard inquiry. I do so monthly through Citi for a monthly fee of about $12. None of my inquiries have ever shown up on my report. I think hard inquiries are limited to those who are checking for the sake of providing credit. e: confirmed http://www.myfico.com/crediteducation/questions/inquiry-credit-score.aspx
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Aug 10, 2010 20:24
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Dead Pressed posted:Is it worth the cash? I've thought about doing that, but I dont' like the idea of throwing away $12 every month on that service. :/ I'm crazy neurotic about financial matters like that, so to me, it worth the piece of mind. I also did catch a false claim against me last year because of it, which was huge for me. In reality, it's probably not worth quite that much, but I'm alright with it.
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Aug 10, 2010 22:32
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Built 4 Cuban Linux posted:Can't you just keep paying off loans and use a credit card if you get into an emergency? That was you only pay extra interest if you get into an emergency, rather than paying it in every situation. This has always been my thought on the large savings cushion platform as well. I'd be very interested to hear why this is a bad idea.
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Sep 7, 2010 19:43
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ImPureAwesome posted:I'm a junior in college with no debt to speak of (or job), but I don't feel I really know anything about the real world especially money-wise. At the same time, I would like to avoid the common pitfalls people make wrt banks, credit, debit, money, etc. This seems like a good place to ask, What are they and how do I avoid them? I want to learn from others financial mistakes, so I can make all the right ones and be a rich motherfucker when I'm older. The golden rule. Don't fall into credit card debt. Pay it off every month, or at the very least, have a plan to pay it off (if you have to charge something big) and stick to it.
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Nov 23, 2010 17:52
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Ashcans posted:This happened to me once, although in that case I had set up an autopay on a card and then forgot to turn it off when I stopped using it. The balance sat there for a couple months (I kept meaning to use the card to wipe it and forgetting to) and then they sent me a check for the balance - I didn't have to request one or pay anything for it. Same here. Now if only the outrageous interest rates worked the other way around.
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Dec 17, 2010 21:19
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I'm just going to cross post this here: http://forums.somethingawful.com/showthread.php?s=&threadid=3378960 Free eBook - Debt Free for Life (today, 1/5 only) Seems to hit on a lot of the points that have been discussed in this thread.
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Jan 5, 2011 17:05
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Brennanite posted:There's just one cable company. I don't even understand how that's possible in a major metro area. Gonna go out on a limb and say Comcast. They monopolize the market in my area. Pray for Verizon to put in FIOS infrastructure near you in the near future, and my God help you if you have buried telco lines.
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May 5, 2011 21:36
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Talran posted:Okay guys, I'm working for a college, in on TRS (Teachers Retirement for Texas) that will pay ~70% of my last 5 years salary to me anally in monthly payments after I retire at 60 matching 80years life+service (I'll reach the 80at 52). I knew teachers got screwed in general in this country, but this seems a bit much.
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Jul 7, 2011 16:55
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kaishek posted:It also covers my wife and my wedding rings against loss or theft. Is it expensive to find insurance that covers lost/stolen wives? Seconding (thirding... fourthing maybe) renter's insurance. You never realize just how much poo poo you own until you have to replace it all.
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Jul 27, 2011 19:22
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Duxwig posted:Speaking of credit score and history, this moron(duxwig) is looking to figure out his credit history. You're entitled to one free credit report per year. See https://www.annualcreditreport.com
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Sep 7, 2011 00:47
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moana posted:For those newbies who need a clear inroad into budgeting, I wanted to recommend as a very much financial beginner's book: All Your Worth by Elizabeth Warren and Amelia Tyagi. I just got around to reading it and it's a great newb-friendly look at personal finance. It's geared more towards the zaurgs and tuyops rather than the 80ks of BFC, for sure, and if you're looking for asset allocation you'll have to look elsewhere, but it's a very honest take on big-picture budgeting for people who are financially sloppy, behind on their savings, or just plain worried about money. Also, $.75 on Half.com http://product.half.ebay.com/All-Yo...cpid=1246859726
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Sep 23, 2011 06:31
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Solaron posted:I've posted here a couple times about retirement - we put in ~15% via 401k and SDRPs. My wife and I make approximately $130k before taxes living in a fairly rural part of southern Ohio. We'd like to figure out our retirement and financial future, since we don't want to end up like either of our parents. Is a financial planner the right option or are they only for people with a super high net worth? What would you guys recommend we do? I met with my financial planner the first time when I was 21 and made $37k a year. You're never too low income for financial planning.
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Dec 6, 2011 14:41
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TraderStav posted:That's an awesome time to meet with one and start building proper wealth-building behaviors... That fee, was a relatively large % of your income, but will pay hugely over the next 45 years... bravo. What I didn't mention is that I bought my first home a year later (2009) and I've been desperately house-poor until about 4 months ago, so I haven't actually been building. Just started a new job at nearly double what I was earning.
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Dec 6, 2011 15:00
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TraderStav posted:Been there, we won't always make the right decisions, but in the long run if you have the right habits you'll come out ahead. I'm hoping you didn't adjust your standard of living much with the awesome raise. You can really start making a tear at living like none of your friends in ten years if you do. So far I've maintained the same standard of living. My costs went up a bit with the new job (travel/meals), but all in all, instead of having $200 a month extra after all my bills/feeding myself each month, I'll have around $1500. I can finally get the credit card monkey off my back. (Currently about $6700 @ 11.99%). Once that's done I'm going to build my emergency fund and finally have some security.
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Dec 6, 2011 19:38
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moana posted:It's ok, I forgive you. Well I've been reading it as well and have found it pretty helpful too. So I'll thank you for it 
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Feb 14, 2012 15:03
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Warren is a great author and one of the few I've seen that actually stands up for people in debt. The section on how to deal with creditors is the best, most straightforward and compassionate advice I've read on the topic.
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Zotwoz posted:Have a debit card and just got a credit card with a $1K limit, almost no credit right now. What's a good way to split up my spending between the two? If you want to build credit with the card, buy things you could pay for with your debit card, then immediately pay it off. The mistake most people fall into is thinking of the credit card as free money, when in reality it's more expensive money. Don't purchase anything on a credit card that you can't afford to pay off right away. I'm writing this as a man who is a few short months from getting out from under a credit card balance that has been tailing me for 6 years. e: beaten
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Feb 14, 2012 22:59
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Quick question: I have a student loan I want to refinance to a less face raping rate. Here's the facts: * Just under $30k * Private loan (nelnet, if it matters) * I graduated in 2006 * It's at 8%, fixed * It's a 20 year loan * It's in my father's name, though I make the payments. Any suggestions on who to go to about refinancing? I don't have nearly enough home equity to cover that, but I do have great credit (~780). I tried Wells-Fargo about a year ago and got nowhere (declined, even with two cosigners). Would a CU possibly cut me a loan on this? I can imagine it's going to be tough, since there's really no collateral. Dragyn fucked around with this message at 18:14 on Mar 26, 2012 |
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Mar 26, 2012 17:34
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Harry posted:Well how much is the loan? ..and I knew I'd manage to leave something out. fixed above. It's Just a hair under 30k now.
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Mar 26, 2012 18:15
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 Many thanks to the participants of this thread for all your advice. This time last year I had just about $11k in credit card debt. Paid off my entire credit debt yesterday that I've been carrying around since 2006! Now on to my $3k school loan, then a small safety fund (I have no savings), then my car. Dragyn fucked around with this message at 17:27 on May 17, 2012 |
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May 17, 2012 17:25
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IllegallySober posted:Awesome job! Feel like a weight has been lifted off your shoulders? Not as much as I'd like, still got a long way to go: School Loans: 30k (8%) + 3K (2%) Car Loan: 8.5k (4.5%) Heating System Loan: 6k (0%) and that's excluding my mortgage, which is still relatively new. But it's nice to have $0's on my spreadsheet for once.
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May 18, 2012 14:22
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Rockzilla posted:How does recently purchasing a home affect your eligibility for new credit? The inquiry from the loan would show on your report, but if it was very recently the loan itself may not even show up yet. Even if it does, unless you have a great deal of other debt I wouldn't be too concerned about it. From what I've heard the standards are pretty low for store cards anyway, you'd probably get approved even if you were in bad shape.
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Jun 8, 2012 14:26
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SlightlyMadman posted:As an anecdote to address the cosign issue, pretty much the only time it would make sense is for a family member. My mom cosigned on a car loan for me when I was 20 and had no credit history. I wouldn't have gotten it otherwise, and it actually helped us both improve our credit. Never in a million loving years should you cosign with somebody who's not in your immediate family and you trust with your life, though. I notice the thread title changed. Apparently someone disagrees with you.
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Jun 8, 2012 18:18
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SlightlyMadman posted:I think the thread title is still good advice, I just thought it was worth mentioning that it can be beneficial if you trust someone to the level of "they came out of my vagina." I certainly don't disagree either. I don't think I know a single person that could have paid for college without having a parent cosign on loans, myself included.
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Jun 8, 2012 18:39
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redreader posted:I just got married, and need some advice on financial planning. I called this guy up who said it would cost 2500 or free "if I decide to use certain products, or buy insurance". I said that was a bit much and he said he could drop it to 2000 for me. Unless you have something extremely complicated going on, I don't see the value. If you care to give a brief overview here we can probably get a better idea.
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Jun 25, 2012 19:57
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Sophia posted:This is like an object lesson for my advice that no one get married while either person is still in school, and especially when only one person is in school. Date, yes. Engaged, sure. Married? No. It creates an underlying financial imbalance that is really hard for anyone to deal with. Similarly, if one has a good deal of school debt, while the other is debt free. My better half jokingly (I think) says that she won't agree to marry me until I pay off my loans.
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Jun 29, 2012 18:59
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cheese eats mouse posted:With someone in 30K of federal student loan debt and 4400 in CC debt would you guys recommend consolidation with income based repayment at $140 a month and $300-400 at credit cards or should I just leave them in forbearance for another year and make the standard repayment of $360 a month after I'm done paying off my consumer debt? I make a $100 payment on $6,700 of that debt. The other amount is in forbearance. My first 6 month forbearance I accrued $878 of unpaid interest. It sounds like you're in a similar situation to mine. I think you'd never find someone to refinance 30k in school debt with no collateral. If it's federal (mine is private @ 8%  ), the interest rate is low enough that you may get away with paying it slowly to invest in retirement.
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Jul 11, 2012 18:07
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CelestialScribe posted:I've been thinking about making a purchase but I just want to check if it's the right decision. I think you're being incredibly overcautious for someone in your situation. Not going for this sale would be a prime example of penny wise and pound foolish, in my opinion. Just promise yourself that you'll pay it back when you get the money. e: beaten like so many red-headed stepchildren.
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Jul 24, 2012 13:59
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E:fb Eggplant Wizard posted:Common sense? The bottom line is its very very very unlikely you would get a 5% Roi over the 4 years in the market right now. The only way that might happen us with extremely risky investments, which you'd be far more likely to lose everything in.
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Aug 3, 2012 22:47
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armoredgorilla posted:I have a question on using the Debt Snowball method. I would definitely do that. You're paying about $45 a month in interest on CC2, I'd aim to pay that off as quick as reasonably possible. How much extra are you tossing into whichever each month? e: and by "that" I mean put everything extra into the snowball. Dragyn fucked around with this message at 19:20 on Aug 6, 2012 |
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Aug 6, 2012 19:08
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GanjamonII posted:I checked creditkarma for the first time in a while and saw that a new Citibank credit card was opened in April of this year, which is great except that I don't have a credit card from Citibank. You should be taking it up with the credit bureaus, not Citi at this point. If Citi says you don't have an account and you challenge it with the bureaus they'll pull it off your record.
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Aug 27, 2012 23:46
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soy posted:I'm currently sitting on about $10k in various debt, spread among credit cards and other things as a result of living beyond my means. Anyways, I'm trying to change this... I was thinking how nice it would be to get a loan for about $10k which I could use to pay off all that debt. Preferably at a reasonably low rate... From then on, I would only use credit in the event of an emergency. If you own the home (as in have equity), the simplest would probably be a home equity loan. No one is going to give you a loan at a decent rate without collateral. e: beaten by Zeta!  But also, what he said. 10k isn't a deep hole. I dug myself out of a deeper one in the past couple of years. unrelated: I just paid off my first school loan! yay!
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Sep 13, 2012 18:32
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MrKatharsis posted:Wait, what? There are employers that don't offer 401(k) plans? My previous employer only had "Profit Sharing", which was a load of bull. After 1 year (coming up in a month), I can get into my current employer's, with a 4% match. It seems to vary widly. My gf's company offer 3% match off the bat, and an additional 3% company contribution after a year or two.
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Oct 1, 2012 21:15
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MrKatharsis posted:Rough estimate: you're paying $250/month in interest and your top tax rate is 25%. I don't know about your math, but I can tell you with 100% confidence that you will only recoup a small portion of interest paid from your student loans at tax time. It also phases out once you meet a certain income (which I'll be doing for the first time in my next filing )ninja: Your student loan taxes are an adjustment, not a straight deduction, so what you get back %-wise is based on your bracket.
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Dec 5, 2012 19:29
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I"m helping my brother get his finances in order, and he's got a ton of student loans.pre:Description Type Origin Date Origin Amt Status Curr Balance Int p/y Nelnet A Stafford Unsub Multiple $3,821.32 REPAYMENT $6,083.22 6.8000% Nelnet B Direct Sub 10/27/2010 $1,168.00 REPAYMENT $1,329.85 4.5000% Nelnet C Direct Unsub 10/27/2010 $2,082.00 REPAYMENT $3,050.26 6.8000% Nelnet D Stafford Sub Multiple $448.00 REPAYMENT $531.38 6.0000% Nelnet E Stafford Unsub Multiple $5,052.00 REPAYMENT $8,117.63 6.8000% Nelnet F Direct Unsub 2/14/2012 $3,250.00 REPAYMENT $4,433.07 6.8000% Navient 32 Direct Unsub 3/2/2009 $11,000.00 DEFERMENT $28,643.57 13.3750% Navient 40 Direct Unsub 4/1/2009 $4,547.00 DEFERMENT $11,577.82 13.3750% Any suggestions for what we might be able to do to get these under control without having thousands of dollars immediately available? e: I should mentioned that the Navient ones are in deferment, but have a ton of missed/late payments. The Nelnet ones aren't deferred, but also have a ton of late/missed payments. Dragyn fucked around with this message at 23:10 on Mar 7, 2017 |
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Mar 7, 2017 22:53
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pig slut lisa posted:Any additional info you can share about his income and expenses? His income isn't very large; In the 30k ballpark, but he's still wrapping up school. He's living with our parents right now, but he's also half-supporting his 4-year old daughter (and paying for a custody battle). He's going to have to find his own housing in a few months, however, as my parents are moving out of state. He and his gf intend to get a place. He has a car loan for $4k, but is otherwise debt-free. I'm told that Navient has offered negotiations before for his debt, which I've advised him to not act on without getting the agreement in writing from them. I think that it may be the best option, but I wanted to see if there were other opinions. I'm deeply troubled by the amount of debt that's getting snowballed on top of this while he's in no position to make a large dent in it.
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Mar 7, 2017 23:31
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Grumpwagon posted:I was thinking "well that isn't so ba..... gently caress" when I came to the Navient ones. I guess the first thing I'd figure out is is that 13% rate a penalty rate because of the missed payments, and if so, what can be done to get out of penalty? It probably isn't, but I guess I'd like to hope people aren't so horrible as to approve a student loan at that rate. I did literally the same thing when I got the login for Navient's site. "Oh that'a a good sized balance.. ok.. but how's the intere.... JESUS gently caress" Once we get everything together we're gonna call Navient and see what can be done because it's just an unsustainable rate (like to the tune of $15 a day in pure interest). This is what happens when you don't teach financial literacy in schools, kids.
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Mar 8, 2017 00:07
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SpelledBackwards posted:But how will you learn it in school without a student loan? Preaching to the choir here. Parent's who are garbage with money and no real financial education, combined with a very "meh" attitude got him here. Now I have to try to get behind this Sisyphean boulder with him in hopes that we can get him out at some point before his funeral.
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Mar 8, 2017 23:17
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