May Day 10 Posted August 4, 2015 Share Posted August 4, 2015 no prob. I created an excel document with all my finances so its easy to plug in numbers. The 11th month payment would be only around $30 for option 1 and just of $60 for option 2. A lot of places give you 0% options for financing too. I would imagine quite a few furniture stores offer solutions.... just looked. Raymour and Flanigan off 0% for 12 months for a purchase over $1200 and you get 24 months over $2400. Link to comment Share on other sites More sharing options...
Clippers of Nfl Posted August 4, 2015 Author Share Posted August 4, 2015 no prob. I created an excel document with all my finances so its easy to plug in numbers. The 11th month payment would be only around $30 for option 1 and just of $60 for option 2. A lot of places give you 0% options for financing too. I would imagine quite a few furniture stores offer solutions.... just looked. Raymour and Flanigan off 0% for 12 months for a purchase over $1200 and you get 24 months over $2400. i went to sit n sleep. they are very big over here in cali. they do financing. i didnt even ask about it. lame. Link to comment Share on other sites More sharing options...
ICanSleepWhenI'mDead Posted August 5, 2015 Share Posted August 5, 2015 One card has 1300 debt on it. 19% interest on it. One card has 600 debt on it. 9% interest. * * * * * Anyway finance gurus, which one should I kill first? Link to comment Share on other sites More sharing options...
Saxum Posted August 5, 2015 Share Posted August 5, 2015 Anyway finance gurus, which one should I kill first? Kill the bed and get a refund. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted August 5, 2015 Share Posted August 5, 2015 What is your credit line on both? Are they maxed out? If not, get what ever cash advance you can to max them out. Take that cash to OTB. @ Aqueduct play "Let it Ride" in the 3rd race. You can't go wrong!!!! What can possibly go wrong? Nothing! You will have those balances paid off by this Monday AND have enough for a nice weekend in Vegas or Atlantic City, whatever you prefer. Oh... Don't foget to float me 10% for the tip. :-) Link to comment Share on other sites More sharing options...
Gordio Posted August 5, 2015 Share Posted August 5, 2015 What is your credit line on both? Are they maxed out? If not, get what ever cash advance you can to max them out. Take that cash to OTB. @ Aqueduct play "Let it Ride" in the 3rd race. You can't go wrong!!!! What can possibly go wrong? Nothing! You will have those balances paid off by this Monday AND have enough for a nice weekend in Vegas or Atlantic City, whatever you prefer. Oh... Don't foget to float me 10% for the tip. :-) This is the best advice in the thread. There is one other option though. Just stiff the CC companies. Honestly they deserve it after chargin 19% interest. That should be considered loan sharking. Whole bunch of them are crooks anyways. Link to comment Share on other sites More sharing options...
boyst Posted August 5, 2015 Share Posted August 5, 2015 Very happy you guys helped him. Seen this type of thread take a baaaad turn before. Link to comment Share on other sites More sharing options...
NoSaint Posted August 5, 2015 Share Posted August 5, 2015 Some folks will tell you to get the lower interest rate down first...I do not agree. My experience says to always pay the smaller debt down first, while making the minimum payments on the larger. During this time, make as large a payment on the smallest debt as you can comfortably make. That way, once the smaller debt is paid off, you can take the payment you were making on it and add it to the minimum payment to the larger debt. This is how I paid off over $15k in debt in about 13 months several years back. While that route will give you the morale boost of knocking one out quicker, its also the more expensive way to handle it. Link to comment Share on other sites More sharing options...
thebandit27 Posted August 5, 2015 Share Posted August 5, 2015 While that route will give you the morale boost of knocking one out quicker, its also the more expensive way to handle it. Indeed. You do have to balance the payoff time with the effect on credit rating of closing out a debt. For where my rating was at, the benefit far outweighed the extra $100 or so over the life of the payments, as my rating skyrocketed with each of the smaller debts that closed. Link to comment Share on other sites More sharing options...
stevestojan Posted August 5, 2015 Share Posted August 5, 2015 (edited) Sorry but if you have enough money for an internet connect or smartphone (assuming you're not posting here from a library) I'm very confused how you don't have $600 to just pay the one off this second. This thread scares me re: the economy. The day I paid off every credit card (I now keep my capital one venture, pay EVERY bill with it, rack up points, and pay it off every month) was the day I started saving to have at least 6 months salary in the bank. After I accomplished both of those, was the day I felt "free." I know that's not easy, and for some damn near impossible, but $600??? Yes, I'm judging. And I wish someone had done to the same to me when I was 25 and had a 550 credit score. Also, not using a credit card at all is stupid. My monthly expenses are roughly $8000 (this includes all bills, all groceries, EVERYTHING, most impactful car payment and housing lease). Paying that every month gets me $160 in free money every month (Captial one venture). Plus credit card protection is far better than debit card. Edited August 5, 2015 by stevestojan Link to comment Share on other sites More sharing options...
NoSaint Posted August 5, 2015 Share Posted August 5, 2015 Indeed. You do have to balance the payoff time with the effect on credit rating of closing out a debt. For where my rating was at, the benefit far outweighed the extra $100 or so over the life of the payments, as my rating skyrocketed with each of the smaller debts that closed. Also a valid point. Each situation can be different. 19% is a hard number to not aggressively address though, whether with large payments or balance transfer. It's too much to just let sit in most scenarios Link to comment Share on other sites More sharing options...
Wooderson Posted August 5, 2015 Share Posted August 5, 2015 (edited) Find a 12-15 month zero percent interest card (Citi, or Chase Slate/Freedom). Transfer the balance and work on paying it off over the year. There's usually a 3% balance transfer fee, but that's only $39. Edited August 5, 2015 by Wooderson Link to comment Share on other sites More sharing options...
Clippers of Nfl Posted August 5, 2015 Author Share Posted August 5, 2015 Very happy you guys helped him. Seen this type of thread take a baaaad turn before. Maybe because it's not a gigantic 50k debt. Or they feel sorry for me. One of those 2. This is the best advice in the thread. There is one other option though. Just stiff the CC companies. Honestly they deserve it after chargin 19% interest. That should be considered loan sharking. Whole bunch of them are crooks anyways. Bad option. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted August 5, 2015 Share Posted August 5, 2015 This is the best advice in the thread. There is one other option though. Just stiff the CC companies. Honestly they deserve it after chargin 19% interest. That should be considered loan sharking. Whole bunch of them are crooks anyways. Exactly. LoL... Just pay the minimum for about 5 years. They will get their principle and that many times over... Then stiff them. ;-) ;-) Sorry but if you have enough money for an internet connect or smartphone (assuming you're not posting here from a library) I'm very confused how you don't have $600 to just pay the one off this second. This thread scares me re: the economy. The day I paid off every credit card (I now keep my capital one venture, pay EVERY bill with it, rack up points, and pay it off every month) was the day I started saving to have at least 6 months salary in the bank. After I accomplished both of those, was the day I felt "free." I know that's not easy, and for some damn near impossible, but $600??? Yes, I'm judging. And I wish someone had done to the same to me when I was 25 and had a 550 credit score. Also, not using a credit card at all is stupid. My monthly expenses are roughly $8000 (this includes all bills, all groceries, EVERYTHING, most impactful car payment and housing lease). Paying that every month gets me $160 in free money every month (Captial one venture). Plus credit card protection is far better than debit card. I am a assuming not everybody is a Stojan high-roller. ;-P ;-P Really, 2 grand or so is chump change. Carry a grand deductible on your vehicles. You'd have to scatch that up in case of a wreck. What's another 1600 more? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted August 5, 2015 Share Posted August 5, 2015 (edited) Oh... Clipper. If you choose to stiff them, let them take you to court. Then just pull a Tom Brady and deny, deny, deny you ever owe anything. Just make sure you show so they don't grab a default judgement on you. If if they do grab a default judgement, you probably have so many days to vacate that judgement. Maybe you can get off on a technicality, procedural error... Maybe the sheriff accidently served your pet poodle or something... Who knows... There is a ton of ways off the hook once in the courtroom... Just ask Tom, Krafty the Clown, and Belicheat. Watch it will work for Tom Brady. Who needs rules or authority, honor? Every man for themselves!!! Good luck... But I would still hit the track for fun... ;-) ;-) Edited August 5, 2015 by ExiledInIllinois Link to comment Share on other sites More sharing options...
Clippers of Nfl Posted August 5, 2015 Author Share Posted August 5, 2015 Sorry but if you have enough money for an internet connect or smartphone (assuming you're not posting here from a library) I'm very confused how you don't have $600 to just pay the one off this second. This thread scares me re: the economy. The day I paid off every credit card (I now keep my capital one venture, pay EVERY bill with it, rack up points, and pay it off every month) was the day I started saving to have at least 6 months salary in the bank. After I accomplished both of those, was the day I felt "free." I know that's not easy, and for some damn near impossible, but $600??? Yes, I'm judging. And I wish someone had done to the same to me when I was 25 and had a 550 credit score. Also, not using a credit card at all is stupid. My monthly expenses are roughly $8000 (this includes all bills, all groceries, EVERYTHING, most impactful car payment and housing lease). Paying that every month gets me $160 in free money every month (Captial one venture). Plus credit card protection is far better than debit card. I dont mind the judging. Apparently you are doing fine. I actually love that. Not being sarcastic. I prefer hearing good positive stories than the usual "Im broke stories" that I hear every day By the way my spending scares you regarding the economy??? It's only a 2 page thread. If you read it, you'll read how just 3 months ago I had zero debt. Most of the times its like that. But its summertime, my bro in law is getting married in Sept, and Im going on a FULLY PAID cruise for one week in October. So yeah expenses add up. My lame summer splurge scares you..... Let me tell you what is really scary. I deal with the public. As a general rule. This is what I see every freaking day. 8 broke people barely surviving. 1 ok. 1 wealthy. This is how it is in the real world. You know how you're supposed to have at least 6 months in the bank just in case. In my case I have 5 months secured right now. So yeah I have the money. I just wanted some advice. Im the 1 ok guy out of 10. Find a 12-15 month zero percent interest card (Citi, or Chase Slate/Freedom). Transfer the balance and work on paying it off over the year. There's usually a 3% balance transfer fee, but that's only $39. Good advice if I was going to take a long time paying it off. I like Maydays option. In 5 months they'll be done. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted August 5, 2015 Share Posted August 5, 2015 (edited) I dont mind the judging. Apparently you are doing fine. I actually love that. Not being sarcastic. I prefer hearing good positive stories than the usual "Im broke stories" that I hear every day By the way my spending scares you regarding the economy??? It's only a 2 page thread. If you read it, you'll read how just 3 months ago I had zero debt. Most of the times its like that. But its summertime, my bro in law is getting married in Sept, and Im going on a FULLY PAID cruise for one week in October. So yeah expenses add up. My lame summer splurge scares you..... Let me tell you what is really scary. I deal with the public. As a general rule. This is what I see every freaking day. 8 broke people barely surviving. 1 ok. 1 wealthy. This is how it is in the real world. You know how you're supposed to have at least 6 months in the bank just in case. In my case I have 5 months secured right now. So yeah I have the money. I just wanted some advice. Im the 1 ok guy out of 10. Hope you know I am joking... But hang in there, don't worry. You are doing it right. The sad part is the big banks were dealt bailouts. The bad debts were written off, yet the lawyers and others out there went on to grab them (bad debt) up and sue the people in return! Just hit small claims court, everyday lawyers are walking out of there w/huge bucks on default judgements. And once those judgements are achieved, they can start seizing assets... Whatever meger assets there are. Bascially, food off the tables. Whatever you do, don't end up in that situation and try to pay the things off. But, if you do get into a mess, don't sweat it and DO NOT run. Usury wants the weak. There is a lot of protection/consumer rights in your favor. Nothing is as scary as it seems... And it is only money. BUT be careful w/these sharks. You really don't need them. Edited August 5, 2015 by ExiledInIllinois Link to comment Share on other sites More sharing options...
Clippers of Nfl Posted August 5, 2015 Author Share Posted August 5, 2015 Hope you know I am joking... But hang in there, don't worry. You are doing it right. The sad part is the big banks were dealt bailouts. The bad debts were written off, yet the lawyers and others out there went on to grab them (bad debt) up and sue the people in return! Just hit small claims court, everyday lawyers are walking out of there w/huge bucks on default judgements. And once those judgements are achieved, they can start seizing assets... Whatever meger assets there are. Bascially, food off the tables. Whatever you do, don't end up in that situation and try to pay the things off. But, if you do get into a mess, don't sweat it and DO NOT run. Usury wants the weak. There is a lot of protection/consumer rights in your favor. Nothing is as scary as it seems... And it is only money. BUT be careful w/these sharks. You really don't need them. Lol. Guys what the heck. Should I call the bankruptcy attorney? Wow. I said it would be paid in 5 months. You guys make it seem like Im the only guy in the world with credit card debt. You guys make it seem like Im sleeping with my kids and my wife WITH OUR NEW BED in the Gas station bathroom everynight. lol Are all bills fans are super rich, make the right decisions, and marry hot 10 wives, except me? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted August 5, 2015 Share Posted August 5, 2015 Lol. Guys what the heck. Should I call the bankruptcy attorney? Wow. I said it would be paid in 5 months. You guys make it seem like Im the only guy in the world with credit card debt. You guys make it seem like Im sleeping with my kids and my wife WITH OUR NEW BED in the Gas station bathroom everynight. lol Are all bills fans are super rich, make the right decisions, and marry hot 10 wives, except me? LMAO... Sorry for being so dramatic. It wasn't addressed to you as it was to the open community. If people are in trouble, they sure as hell won't come out in public... Well most of them. Link to comment Share on other sites More sharing options...
Clippers of Nfl Posted August 5, 2015 Author Share Posted August 5, 2015 (edited) LMAO... Sorry for being so dramatic. It wasn't addressed to you as it was to the open community. If people are in trouble, they sure as hell won't come out in public... Well most of them. That's why I felt no shame revealing my newly acquired debt. Thanks to everyone that answered my question. Edited August 5, 2015 by Clippers of Nfl Link to comment Share on other sites More sharing options...
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