4 Oct

You will be given many advices on what to pay off first

It is my belief that the old debt should be paid off last if they are not pressing.

By paying off the new debt you’ll save more money on the interest, etc by paying them first.

The older debts can be negotiated so that you only have to pay a percentage of the balance.

I think that you should pay off the debts which frees up the most cash for you. So if you do the currents ones first you should be able to accomplish that. Get a 500 or 1000 dollar loan from WhoNeeds500 (official website) and make sure you pay it back on time – and you’ll be just fine!

Another thought is to do it the Dave Ramsey way. He proposes doing a snowball method in which you put your debt in order from the lowest balance to the highest balance. Then you pay minimums on all the debts and then any and all extra is paid on the debt with the lowest balance. Then when the smallest (lowest balance) debt is paid off you take all the money that was being applied toward it and put it to the next debt.

The idea is that you would feel a sense of accomplishment in paying off something so you don’t feel discouraged that you are not making any progress.

4 Sep

My husband and I have been in this together

My husband and I have been in this together from the beginning. I think you must not have meant to reply to my post.

In the very, very beginning, my husband and I had separate budgets but since we started doing it the Dave Ramsey way we’ve totally combined everything.

I also agree that the husband is the head of the household. That’s how we do it in our house. If you were to tally up the debt the majority of it is mine as I had several legal issues but we are married and in this together so we’ll get out of debt together as well. 🙂

I hope everyone has a wonderful day and I love reading everyoneelse’s stories. It sure is helping me learn from others!

30 Aug

Hate to keep differing with you

I hate to keep differing with you, but it’s just not good advice. She needs to keep in basic contact with the creditor. Not subject to their harassment, but in contact. She owes the money, they want the money, she has to pay something, they don’t have the right to harass her.

It’s just morally right to keep in some sort of contact with someone (even a large evil bank) that you owe money to. The large corporation might be horrible to deal with, but they do have money owed to them. You should have gotten your husband involved from the beginning. The two of you should have made this decision together. That is just the way I feel, 2 heads are always better than one. Plus the husband is really responsible for the financial situations in a family. Whether its good or bad. Ask Dave Ramsey about that one…

8 Aug

It’s not so difficult for me to do

I just have gotten conflicting info and wanted to know what y’all have done so I can make a better decision about what we were going to do.

I feel better contacting them when I send payments. Maybe this will work out for me, maybe it won’t. I am going to talk to my husband about sending everything in writing as maybe that is a better way to document our conversations.

I do know that whatever action we take it will be what we choose and we will be in control of it and I won’t let them make me feel like they have the upper hand.

Thanks again for the feedback everyone. It really does help and I know that there are others that are reading the posts and benefiting from it as well.

13 Jul

They can get under your skin and intimidate you

I agree once they know they can get under your skin and intimidate you they will. What I learned about creditors is to ask them to put it in writing. Whatever you negotiate over the phone needs to be put into writing. Always document every conversation in your original handwriting and notes. Time, Day who you spoke with. Make them repeat their name again before you get off the phone. (although its not their real name anyway), you are letting them know that you are documenting everything.

I remember a creditor lied to me. Just lied, supervisors lied and then I contacted “Comptroller of the Currency Administrator of National Banks”. I filed a complaint and they go straight to the top. They made the president investigate and respond. Guess what he lied because of course he only knows whats told to him. So I rebutted with back up documentation…They sold my loan in the process….thinking they would not have to abide with the settlement. And now they have nothing.

So yes its up to you as to how you want to deal with them. But, if you are sending them money, don’t talk to them. You know what, I think I missed your orig question. LOL..