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Restructured my accounts
    #29651086 -

I should have done this ages ago, I have two CC near maxed out $4500 on one and $2400 on the other


I have a $9000 line of credit but I can't use it because my disability benefits will count it as income and dock my cheque

I called my bank and asked if they have a credit card with low interest for 12 months or w.e. for balance transfers, they said due to being on disability my credit cheque would fail (although my credit was above 800 for a while, but now this debt has crashed it to 733, when it was at 800 I had banks constantly sending CC applications and LOC applications lol, I took out one large CC when I had the chance cause the bank was insane offering it to me, that one has a $0 balance I don't use it)

But what they could do is give me a 13.99% card that has a $29 a year fee, for $9000 limit, by turning my LoC into a credit card

So now instead of $6900. @ 21% I'm at 13.99%


I should have done this months ago, ive been throwing money down the drain struggling to pay these cards, about $5 a day, like I'm one of those people who buy a Starbucks drink with every pump, but I don't even get the drink


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For most of the normies out there, an operating system is just a bootloader for Google Chrome.

And I don't know what the mantis is praying for
But he's probably just thanking the Lord
That he don't live in a home
And he don't got a phone
And he don't sit around all angry and bored
(He's just a bug)

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Re: Restructured my accounts [Re: gopher]
    #29651353 -

Cut up your cards if you can't use them responsibly. Even 13% is fucked to pay but congrats on getting it lower. My credit card pays me a few hundred a year cash back..I use for everything and pay off right away.

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Re: Restructured my accounts [Re: Mystikal]
    #29651419 -

For years and years I paid my card off in full every month, my credit score was 800 or higher, it said excellent, now it just says fair


My problem was just amazon I think, once I get them paid off I think i will be good

My line of credit was only like.9% I think but I couldn't use it


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For most of the normies out there, an operating system is just a bootloader for Google Chrome.

And I don't know what the mantis is praying for
But he's probably just thanking the Lord
That he don't live in a home
And he don't got a phone
And he don't sit around all angry and bored
(He's just a bug)

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Re: Restructured my accounts [Re: gopher]
    #29651451 -

You embrace novelty and gadgets, I kindly poked fun at that before, you are a believer in The Product which’ll provide a fix for problems you didnt even know you had - a standard advertisement tactic.

I can totally see this creating a problem with fast shipment places that have everything, like Amazon.

Its good that you broke the loop of destructive shopping behavior that was ultimately unsustainable.

You did great getting your interest cut down bigtime. Proactivity worked out for you here.

Try to get what my Nigerian friends refer to as a “side hustle” to get out of debt as fast as possible.


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Omnicyclion.org
personal empowerment for the world

:nyan: LGBT - Love God Before Tradition :nyan:

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Re: Restructured my accounts [Re: Asante]
    #29659524 -

Check out this company https://www.consumercredit.com/about-us/


they'll negogiate with your creditors to lower your interest rates and get you on a monthly payment to pay your debt off. caveat is your credit accounts will be closed, your credit score may drop a bit, and your monthly payment will be higher, but my interest rates went from 21% to 1% (one account was actually 0%). My monthly payment went from like 200USD per month to 550USD per month, HOWEVER, I paid of 28,000$ in credit card debt in 4 years instead of 25 years. Biggest thing is though, you need to change your behavior. Either live within your means or get more money. I know you said you're disabled, but money doesn't care about that, as shitty as it sounds. I mean there are programs and stuff I'm sure you can look into to help out. Idk, I started listening to this podcast Financial Audit and it's really helped me change my behavior. That plus the debt management plan through ACCC basically saved my life.

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Re: Restructured my accounts [Re: AlChemicalResearch]
    #29659691 -

I'm in Canada, and I think I'll be fine if I don't get carried away again buying stuff, now with this new card (4 total) I have a crazy amount of credit and I don't want to lose it, if something were to happen and i ended up on the streets, I would max out my credit ro survive and not give a fuck about paying it back lol just file bankruptcy if I got back on my feet

I have less then 10k debt, if I pay it off even $400 a month it will take less then 2 years to pay off, I think I can pay it off faster, as some people owe me money, and I have like $1000 in silver dimes I can sell, I just have to get down to the closest city sometime to sell them, I also have a precious metals veryifyer that I may be able to sell for like $2000, that's like almost half my debt if I'm able to sell both the coins and verifyer and the amount of interest I pay over time drops a hell of a lot if I can get that $3k down right away


--------------------
For most of the normies out there, an operating system is just a bootloader for Google Chrome.

And I don't know what the mantis is praying for
But he's probably just thanking the Lord
That he don't live in a home
And he don't got a phone
And he don't sit around all angry and bored
(He's just a bug)

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Re: Restructured my accounts [Re: gopher]
    #29659890 -

I wouldnt be surprised if another shortlived silver rally was in the future. If its 1000-2000 now it might be 2000-4000 now while inflation churns on.


--------------------
Omnicyclion.org
personal empowerment for the world

:nyan: LGBT - Love God Before Tradition :nyan:

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Re: Restructured my accounts [Re: gopher] * 2
    #29660046 -

Unless you're utilizing debt to finance a larger long-term return (e.g. financing a rental property or a well planned business endeavor), I think you should focus on paying down the debt ASAP.  While Asante's point about metals appreciation is not unreasonable, I don't think it's worth paying 14% in annual interest to finance your ability to hold your silver.

I'd sell the metals, sell the verifier, pay down the debt and regroup.  If you're going to indebt yourself, it sure as hell better be for something better than the junk Amazon will drop on your porch.


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┼ ··∙   long live the shroomery  ∙·· ┼
...╬π╥ ╥π╬...

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Re: Restructured my accounts [Re: gopher]
    #29660255 -

Tho it needs to be 0 - 6K or whatever you owe isn’t bad. I’d do as Asante said and get a side hustle, bust out that 6K with work, and hang onto your silver. But you do what you gotta do.


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notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."

Edited by Mickalopagus (09/02/26 10:17 PM)

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General Interest > Money Matters
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