Skip to main content

Debt

Featured Topics

Upcoming Virtual Event With “Napkin Finance” Author Tina Hay

Nicole D.
Hey everyone! In case you’ve missed our announcement Monday, I’ve got some exciting news to share! Tomorrow, The Penny Hoarder will be hosting a virtual Q&A with “Napkin Finance” author Tina Hay. Mark your calendars for Thursday, Feb. 11 at 2 p.m. ET and join us on The Penny Hoarder’s Facebook page , where we’re sure to have an interesting and informative Facebook Live discussion. We’ll also be giving away five copies of “Napkin Finance” during the virtual event! For a chance to win,...Read More...
I'm glad you were able to watch later, @sthom ! And thanks!Read More...
I missed the live event but did watch later on Facebook and what a pleasure. I've been unable to participate in the overall book discussion as I intended. Have been out of pocket for a few weeks due to some health issues. But...Tina Hay's discussion with you was brilliant, Nicole. And, what a sweet face you have, if you don't mind my saying.Read More...
It sounds great! I'm sorry Ill be missing it, but look forward to hearing about it.Read More...
This is so cool! Looking forward to it!Read More...
Last Reply By Nicole D. · First Unread Post

Topics

Hi, Recently a collections debt that I have been repaying monthly has dropped from my credit report. Just last month the collections agency contacted me by phone stating they wanted a payment by a certain date (which was within 5 days of the call) or my file would be sent for referral to an attorney. There was no way I could make what they were asking for in that short amount of time. Do I keep paying monthly like I have been(I am in Maryland)? Should I wait and try to negotiate a settlement...Read More...

Divorce - domestic violence

Amy_patt
So long story - I survived many years of abuse of all forms. Every year got worse than the one before, now I can see that. Funny how brainwashing works. He is heading to prison. I'm trying to figure out how to get divorced and what I legally can ask for and get and what is off limits. We live in Texas and since I started working I was told I make too much for legal aid, but I submitted the divorce paperwork once already and apparently did it wrong. The judge said I have one more chance to do...Read More...

debt consolidation

Hi, I've been looking for the best way to deal with $25K in credit card debt. I spoke to someone at a company called All Service Financial, but I don't know if this or any debt consolidation agencies are legitimate or not. I sold my house and could pay it off, but I worry about my future income. Any help or advice? Thanks!Read More...

Upside Down Car Loan

Chuck_221
Greetings, My wife co-signed a car loan for our former daughter-in-law, and now the ex-DIL has left the car at our house and says she doesn't want it anymore. The kicker is that previous loans had been rolled over into this one and now the payoff is around $20K while the car is worth around $7K. Monthly payments are almost $500, for 3-1/2 more years. If we sell the car, the loan comes due and we don't have $20K sitting around to pay it off. How big a hit on my wife's credit if we let it get...Read More...

Credit collections

Mexpensive
I have an old debt from 2008. It has already been charged off my credit reports years ago. The debt was sold to a collection agency. I have not received a collection letter in over 4 years. I just recently received one. Can they send one now after all this time? Does anyone have any experience or knowledge with this situation? Any help is appreciated.Read More...

The Snowball Method for Paying Off Debt

Moore Income
I am curious to know if anyone here has used the Snowball Method for paying off debt and what the results were. I personally have done it a little differently (more like the avalanche method), only because certain credit cards I owe on are still under a "no interest" sign up bonus. To me the snowball method seems like a pretty effective way to do it. What are your thoughts? Have you tried any of these methods? What are some helpful tips you have used to pay off debt?Read More...

Struggling to pay debt or going bankrupt

Judy Aquino
This is my first post. I'm seeking advice around debt and bankruptcy. I've gotten into a situation where the money I make can no longer pay all of my bills. I've been trying to find a second job but having a difficult time. Has anyone been in my position and if so, when do you know if you should go bankrupt? Is there a free organization out there that can help me figure out what to do? TYIARead More...

Helping Covid-19 Victims

Beth Hawthorne
I work at a federal credit union and i have seen COVID-19 wipe-out people's savings. They can't make they loan payments, which plunges their credit score. CATCH 22...You know when this first started in March 2020 or so.... I told my boss that I wasn't so worried about the virus, I was worried more about the fallout at the end...I believed that the gov't wasn't handling it correctly and I still don't....The virus didn't throw us under the bus is the economics dept... the gov't did that....I...Read More...

Eviction on credit report

Not broken yet
While living with my ex, we were evicted out of our apartment. Short and gist of it is that we were charged with repairs to the property disposable items and non-payment. Now after going to court we won our countersuit stand we're not evicted, but was still asked to leave and he's charged with ridiculous fees. The deposit was still withheld from us, and everytime I look on my credit report the bees get higher and higher. I've tried to pay it off but I cannot get an accounting of any and all...Read More...

Can't afford car loan

Judy Aquino
Hi, Has anyone ever been in a situation where you can't afford your car payment any longer? I am in that situation and I don't know if I should call the bank and voluntarily surrender it. I'm not sure exactly what I should be doing. TYIARead More...

Student loans & 401k

Eric7Giants
I am 38 years old and am in my last term before graduating. I am wondering if it would be wise to withdraw from my 401k to pay off my student loans since the current CARES act waives the 10% fee. Currently, I have 63k in federal student loans at an average interest rate of 5.05%. At my current job, I have around 125k in my Vanguard 401k.Read More...

Ways to clear off my credit card debt?

Michelle Cortez
Hi my name is Michelle and I am seeking help on how to clear off my credit card debt? Since the pandemic started I have lost my job, been on unemployment and struggling to clear off my credit card debt. It is not a lot but it is hurting my credit score and report right now. My debt is around $300- $400. Not to mention, now with the holidays and having to buy gifts for my children, it has almost become impossible to pay off. My debt is with Credit One and if I don’t pay it off, it will keep...Read More...

Collections

Please give me advice on how I should best move forward. I honestly thought I paid off a loan froma store 3 years ago. I wa very shocked to see a collections service on my Equifax. The original amont was around 400. Now with interst, it is close to 700. I cannot pay this. I am laid off. If I make a deal with them to pay some if it to close the debt, I think that will show on my equifax for 6 years from the date of the deal arrangement. I think if I just wait 4 more years, it is cleared from...Read More...

Debt & Moving

Hi all, longtime reader/new community member seeking advice for handling debt while I need to move: I recently decided to work with a company to consolidate my CC debt with a personal loan. This is a huge weight off my shoulders because I had a particularly bad 3 years (2019 year being my worst yet) when it came to my mental health and personal finance that sent me spiraling to 20k+ in debt (interest payments were the main problem). As I'm sure you know or possibly even can relate, this...Read More...

Very Old Debt

Rick Campbell
I have a question. If a person has a very old debt that has been purchased by 3rd party collections. The debt is so old it has already fallen off their credit report. Can the collections agency do anything other than harass you or can they actually go for a judgment and still collect the debt? I thought after such a long time and already falling off credit reports that was the end of it. Or is a debt collectable regardless of how long its been? ThanksRead More...

Charge Off Inquiry

marcdjones
I have 2 credit card accounts that were charged off back in May 2017 and are currently on all 3 credit bureaus. I would like to know what is the best way to contact the companies that have purchased the debt so I can negotiate a pay down and have them remove it from my credit reports. Any guidance will be greatly appreciated.Read More...
Here's the US News article showing the increase in total student debt for graduates over the past 10 years. What's even worse is those numbers don't reflect the 40% of students that never finish their degree. I'm sure the total number would be even worse. If you or someone you know is considering college here are 5 tips you can use to set yourself up (at least financially) before you go to school. If you don't feel like reading, here is a video I made explaining the steps Understand your...Read More...

Paying Off Debt Fast

A Penny Pincher's Guide
Remember, there is no trick to paying off debt fast, BUT you can pay it off more efficiently and ultimately pay less in interest. Make sure your extra payments go towards the principle ONLY https://youtu.be/SeQ7xLVeanIRead More...

Debt Relief

Hello. So I have about $25,000 in credit card debt on 1 card. $13,000 has an interest rate of 2.9% until 12/31/20 at which point it goes to 9.9%. The remaining $12,000 has an interest rate of 2.9% until 12/31/2021 and then goes to 9.9%. My FICO credit score is 730 and I'm current on all payments and have been paying more than the minimum balance especially since COVID began and cancelled many things I would spend my money on. I signed up for that AM-One thing the penny hoarder sent out just...Read More...

Online Banking

Cat Nichols
Looking for online banking that would help us consolidate all our debt and income into one bank account--is there such a thing? We have six direct deposits a month and tons of auto bill pays spread over three different accounts & pay periods...searching for a way to make it easier to keep track and maybe get a break on interest too.Read More...

Student Loans at Navient

Tanya062
Navient does not allow any deferrments during covid19 as approved by our federal government. I owe $77K. Any ideas for how to reduce this or pay it off quicker? I'm only paying on interest now and want to get rid of it, finally. I am now fully retired with significantly reduced income.Read More...

School loans

My school loans are offering zero interest and forebearance for a set time (thru December, I think). Although I've continued to make the payments, maybe I should take a few months off and use that payment towards reducing my credit card balance. Thoughts?Read More...
×
×
×
×