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Predatory loans Warhammer 3 style! : totalwar
Main Post: Predatory loans Warhammer 3 style! : totalwar
Thames Water just got a £3 billion loan at 9.75% interest, I wonder who'll be paying for that... : london
Main Post: Thames Water just got a £3 billion loan at 9.75% interest, I wonder who'll be paying for that... : london
3 credit cards and 2 personal loans. Where do I begin?
Main Post: 3 credit cards and 2 personal loans. Where do I begin?
Top Comment:
No way you’re a lost cause. I prefer the snowball method so pay the minimum on everything except the smallest credit card, throw everything at that to pay it off asap, then rinse and repeat going down the line from smallest debt to biggest. As long as you’re making your minimums on the others they won’t go to collections or charge off. You’re gonna want to take your monthly income and figure out the budget for absolute necessities and the rest goes to your debt. You should really be able to pay off those cards pretty fast with your salary. I would definitely not file bankruptcy because your situation is totally manageable, it’s just gonna take some hard work and discipline. Good luck!
Short term loans?
Main Post:
I feel like I’m at the end of options but I’m currently overdrawn in my checking account and have 3 bills past due. I hate getting any other loans out bc I have a ton of credit cards already and struggle keeping up with everything anyway but I’m basically just trying to get through until I start getting paychecks. I basically got hired on for a job and it seems like a pretty decent job problem was it took over a month to get started and then it’s going to be almost another month before my first full paycheck. In the mean time I’m strrrrruuuuuuggggggling. I don’t have any support system to really lean on or ask for money (not really my fault but my mom has used everyone for loaning money my whole life and she pays them back but I honestly don’t even want to ask anyone bc of it) I tried money mutual bc people kept talking about them but they only sent me to cash net USA and I have no idea if I should go through them bc it sounds like they randomly deposit money in ur account and then charge you 300% interest on it when you didn’t even ask for it. Has anyone used them or have any other decent companies I could possibly try out to get through until next month?? Thank you!
Top Comment: How much do you need?
Three Personal Loans Paid Off
Main Post:
Well it finally happened. Three personal loans paid off. Final payment today. Getting to this point was not easy. Got myself into credit card debt and used these loans to decrease my interest rate and save some money in the process. All 3 loans taken out at the same time. Be advised learn from your mistakes and do not rack up more credit card debt while taking these new loans.
I was able to transfer my final credit card debt to a 0% offer 5 months ago for 21 months to avoid interest and free up cash flow towards loan payments.
$15000 - 8.99% $440/month - SoFi $10308.22 - 8.9% $330 /month - Best Egg $8761.98 - 6.93% $275 /month - Best Egg
Will not miss obligatory $1045 debt payments
Now these monthly payments will go towards my $6000 in 0% APr credit cards and be debt free by Jan 2025 outside of my cheap(<4%) car note which will be prioritized after credit cards
I cut back expenses, have 2 roommates to keep my COL low, cook at home, and put any extra income towards my debts.
For y’all out there with a comparable(or less) debt load you got this! There’s light at the end of the tunnel.
PSA -If you take loans out do not rack up more credit card debt! Learn from my mistake
Top Comment:
Congrats man, well deserved
Australian Labor Government wiping $3 billion in student debt for over 3 million Australian students.
Main Post: Australian Labor Government wiping $3 billion in student debt for over 3 million Australian students.
Top Comment:
Understandably this doesn't seem like much in comparison to Biden's student debt plans, but Australia is a nation with a population of only 26 million people. This is a huge news!
How many VA loans can I have?
Main Post:
How many VA loans can I have or can I buy another property in the same city with a VA loan? I am currently using my VA loan on a house in Houston for a 168k two years ago?
How many VA loans can I have or can I buy another property in the same city with a VA loan? I am currently using my VA loan on a house in Houston for a 168k two years ago? I am ready to buy another house now that is more expensive while renting the less expensive house. I have been getting a lot of conflicting information about VA loans. I was wondering if anybody had any information regarding
Top Comment: As many as your entitlement and bonus entitlement can support. It can be a little tricky if you are trying to keep a current residence and turn it into an investment property while buying a new home in the same immediate area.
Could paying of a auto loan 3 years early hurt your credit score
Main Post: Could paying of a auto loan 3 years early hurt your credit score
Top Comment: Long term, a paid off loan has the same net effect on your score whether it's paid off early or over the standard term. It will just fall off 3 years earlier (but still remain on your report and contributing to age and credit mix for 10 years after closure). So the only difference to your score will be it contributing until 10 years from now or 13 years from now - negligible compared to the hundreds or thousands of dollars extra you would pay in interest. The thing is, a loan never 'hurts' your score. Negative items hurt your score, everything else results in gains or temporary drops that recover within a short period of time (a month to a year) but it's necessary to take a step back to take a few steps forward when it comes to credit building. Make the better financial choices and your score will follow.