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 Newbie
User of semicolons.
 
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia 
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 Re: It's come down to it. I'm filing for Bankruptcy.  [Re: Lana]
#9813852 - 02/17/09 01:49 PM (4 years, 2 months ago) |
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w00t w00t!
<----- This Geek just got a 60 cent raise. Retroactive paychecks FTW. Not much, but it's a start. 
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#9924115 - 03/06/09 06:49 PM (4 years, 2 months ago) |
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Just an update. I was approved for the 12-month $85 a month lowered payment plan at 4% interest on my high limit credit card. I've been sending $85 a PAYCHECK so by the end of that 12 months I should be in the clear, or at least have $50/month payments.
As for Sallie Mae, I was granted a $1700 loan from my 401k and I sent it to them. I still owe a few hundred but they dropped my delinquency from 89 days to 21 days, and I'm going to call them and ask them to remove a few hundred in late fees before I send over the next payment.
I've been managing my money surprisingly well lately. I'm not cutting any more corners on bills. If I have to slave away the workweek and dish out my whole paycheck the day I get it, so be it. I can't wait to finally be debt free. Maybe I'll actually own a house someday! 
How quickly does a credit rating improve once you get caught up like this?
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 Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,162
Loc: [life]now[/life]
Last seen: 1 year, 6 months
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#9924208 - 03/06/09 07:10 PM (4 years, 2 months ago) |
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I can't really give you any advice on credit scores rising over time, but I just wanted to let you know it's been awesome to see you work this out over time. I realize it's been a pain in the ass, but it's real commendable to take control of your life the way you have been doing. Congrats, man. You deserve it.
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whattheheck
Chief Love Lover
Registered: 06/01/07
Posts: 7,380
Loc: Denver Colorado
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Redstorm]
#9924362 - 03/06/09 07:39 PM (4 years, 2 months ago) |
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Quote:
Redstorm said:
I can't really give you any advice on credit scores rising over time, but I just wanted to let you know it's been awesome to see you work this out over time. I realize it's been a pain in the ass, but it's real commendable to take control of your life the way you have been doing. Congrats, man. You deserve it.
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A society whose whole idea is to eliminate suffering and bring it's members the greatest amount of comfort and pleasure is doomed to be destroyed -Thomas Merton
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙
Registered: 05/08/01
Posts: 17,709
Loc: city of angels
Last seen: 21 hours, 38 minutes
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 Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#9925199 - 03/06/09 09:56 PM (4 years, 2 months ago) |
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I'm with Redstorm, good to see you tackling your finances head on. 
As for credit score recovery, there are many variable metrics used to determine the score. It will take a month give or take for paid-off delinquencies to hit your report and start improving your credit score. The recovery process will probably require at least a year of on time payments on all of your debt in order to show a significant increase in score. Negative information can remain on your credit report for seven years, though these negative marks become less harmful to your score as they age.
http://www.privacyrights.org/fs/fs6c-CreditScores.htm#4
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┼ ··∙ long live the shroomery ∙·· ┼
...╬π╥  ╥π╬...
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: geokills]
#9925240 - 03/06/09 10:04 PM (4 years, 2 months ago) |
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Yeah that's about how long I figured it'd take for it to go up 100 pts or so. I also read that I can "piggyback" on someone else's credit to gradually bring it up faster too. I wonder if Bill Gates is in that program... 
Thanks for the kind words too, it's nice to hear positive reenforcement in a situation like this. Money problems are definitely in the top three of the list of shitty situations to get yourself into. 
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AuroricDistortions
~~~~~~~
Registered: 10/06/03
Posts: 708
Loc: Polar Springs
Last seen: 8 months, 15 days
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 Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#9932785 - 03/08/09 12:13 PM (4 years, 2 months ago) |
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Quote:
Money problems are definitely in the top three of the list of shitty situations to get yourself into.
Very much so. I'm working my way out of debt also. It sucks working all week just to pay late fees and interest. I just got a job with better pay, so things might get easier.
Glad you didn't have to file bankruptcy. Good luck erasing that debt homie.
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flip3084
greenteajunkie4life
Registered: 11/17/08
Posts: 2,019
Loc: North Augusta, SC
Last seen: 2 years, 7 months
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: AuroricDistortions]
#9939104 - 03/09/09 01:34 PM (4 years, 2 months ago) |
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congrats!
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Nam-myoho-renge-kyo
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riffdex
Stranger
Registered: 04/03/11
Posts: 15
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15004271 - 08/31/11 12:23 AM (1 year, 8 months ago) |
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I just stumbled across this thread and liked your story. It's good to see you started to get your debt payments on track when you made this thread a few years ago. So I'm wondering, how is it going? Have you paid off anything yet? Have you made some good progress? It's very hard to keep consistent and get something like this done, especially something that is such a big challenge. Do you regret your choice to pay the debt and wish you had filed instead? Or are you glad of the choice you made? Maybe others who are in similar circumstances to your position years ago could benefit from the content of this thread.
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: riffdex]
#15005544 - 08/31/11 10:13 AM (1 year, 8 months ago) |
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Everything's okay except the student loans, which I've defaulted on. I'm assuming in the near future 15% will be taken out of my check for life, which is fine by me. Kind of like a forced reduced payment plan.
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Kada
Asha'man
Registered: 02/15/05
Posts: 12,138
Loc: Portland, Oregon.
Last seen: 3 days, 20 hours
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15005551 - 08/31/11 10:17 AM (1 year, 8 months ago) |
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Same here with the wife's student loans. Indentured servitude sucks.
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~The Cultivators Motherload~
"I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them.
I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein
"There is no need for temples, no need for complicated philosophies.
My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama
Live long and prosper.
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Kada]
#15005850 - 08/31/11 12:06 PM (1 year, 8 months ago) |
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I'll elaborate later when I get home from work.
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15010760 - 09/01/11 09:36 AM (1 year, 8 months ago) |
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Okay so my current situation hasn't really changed, except the card companies have stopped calling. I didn't file for bankruptcy, but I didn't pay either. I did set up an auto debit on one card though and it's still slowly but surely being paid off. I'm well aware my credit is shot to hell. I'm obviously not happy about it but I got so sick of the worry and anxiety that I just grew into an apathy about it. My Dad still needs money from me every other paycheck and I'm more concerned about helping him pay mortgage and keeping our house than I am about my own financial future.
The student loan people are still blowing up my phone though and I'm in default so they want the full amount. I had a lawyer guy call me at work and after answering some of his questions he started to get very threatening and snotty.
"Are you refusing to pay?"
"No I'm unable to pay."
"So you're refusing."
"No. If I had $30,000 to hand you I'd do it in a heartbeat to clear this all up."
"So you're refusing."
"I.. guess..."
"You really think you're just going to walk away with $30,000, don't you?"
"Excuse me? Why are you giving me attitude when I've been nothing but polite?"
"Blahblhabllhablablah"
I eventually got to a point where I couldn't take the verbal abuse anymore and hung up.
I'm so far past the worry I'm ready to just face the freaking consequences already, which is looking like wage garnishment. I've read they can't take more than 15% out of my check, and I'm fine with that. It sounds like a forced reduced payment plan, which I've been trying to do all along. And it'll be a huge weight off my shoulders knowing that it's getting paid off before my check even hits the bank. I don't even mind them taking my tax refunds. Anything to stop the calls and my feeling like a huge piece of shit.
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Kada
Asha'man
Registered: 02/15/05
Posts: 12,138
Loc: Portland, Oregon.
Last seen: 3 days, 20 hours
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15010809 - 09/01/11 09:59 AM (1 year, 8 months ago) |
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I'm declaring bankruptcy next week. Shit is just to fucking much. My wifes pay is getting robbed almost 400 bucks a month for her school loans and we can't pay other bills off because of it. I know the school loans wont go away, but at least all the other stuff will.
We will NEVER pay off her school loans. We are indentured servants for the rest of our lives because of her school loans. Yes I am aware she is the one who took them out, but we never imagined that we would have these types of payments. He parents forced her to go to school and put the loans in her name or they were going to kick her out of the house. Well, she should have said fuck you I'm out of here. Her bachelors degree isn't doing shit for her and it never will. She makes as much a year as I did working at lowes.
Bankruptcy is going to cost us 950 bucks total. I think that's way to fucking much, but I guess WTF ever we have to do it. I'll let you guys know how easy or hard it was. We are losing the house in all of this, but at least we can find a nice apartment that doesn't cost me way to much to fix it up and have every appliance break on me.
We make decent money, but we have the worst credit ever. NEVER have kids the same time your trying to go to school. You don't have enough money.
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~The Cultivators Motherload~
"I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them.
I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein
"There is no need for temples, no need for complicated philosophies.
My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama
Live long and prosper.
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Kada]
#15010827 - 09/01/11 10:06 AM (1 year, 8 months ago) |
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Last time I checked student loans weren't dismissible in bankruptcy. Or are you going bankrupt to free up money to pay the student loans?
Apparently when they made it cake to get students a loan, they also made it impossible to clear. Your state might be different than mine, but please let me know how it turned out.
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Kada
Asha'man
Registered: 02/15/05
Posts: 12,138
Loc: Portland, Oregon.
Last seen: 3 days, 20 hours
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15010854 - 09/01/11 10:15 AM (1 year, 8 months ago) |
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No you can't get rid of school loans at all. That's why I said were indentured servants for the rest of our lives. When you declare bankruptcy your saying that you can't pay the money back you borrowed. The government doesn't care if you bone anyone but them. They don't give a fuck what your situation is and they will get their money if it takes your whole life to give it to them.
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~The Cultivators Motherload~
"I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them.
I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein
"There is no need for temples, no need for complicated philosophies.
My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama
Live long and prosper.
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Ojom
member
Registered: 10/28/99
Posts: 1,882
Last seen: 5 hours, 52 minutes
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Kada]
#15015283 - 09/02/11 02:34 AM (1 year, 8 months ago) |
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How much did she fuckin' borrow? Perhaps she should have gone to a less expensive school...
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Kada
Asha'man
Registered: 02/15/05
Posts: 12,138
Loc: Portland, Oregon.
Last seen: 3 days, 20 hours
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Ojom]
#15015329 - 09/02/11 02:49 AM (1 year, 8 months ago) |
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60k. For a general education degree. She was going to get a teaching degree but she would have made less after getting that than she does now. Her parents are fucking assholes for forcing her to go to school. She didn't even want to.
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~The Cultivators Motherload~
"I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them.
I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein
"There is no need for temples, no need for complicated philosophies.
My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama
Live long and prosper.
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Newbie
User of semicolons.
Registered: 07/18/04
Posts: 23,015
Loc: Suburbia
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Kada]
#15015954 - 09/02/11 05:59 AM (1 year, 8 months ago) |
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That sucks that her parents forced her...
I blame my high school for pretty much drilling it into our heads that we'd be huge pieces of shit if we didn't take out huge loans and go to college.
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Kada
Asha'man
Registered: 02/15/05
Posts: 12,138
Loc: Portland, Oregon.
Last seen: 3 days, 20 hours
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Re: It's come down to it. I'm filing for Bankruptcy. [Re: Newbie]
#15016908 - 09/02/11 12:38 PM (1 year, 8 months ago) |
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I wasn't going to pay for college. I went into the military thinking that would be a honorable way to get money for college. LOL
I was honorably discharged for medical reasons and they denied me my school money for it.
Thanks big gov.
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~The Cultivators Motherload~
"I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them.
I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein
"There is no need for temples, no need for complicated philosophies.
My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama
Live long and prosper.
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