Debt alabama consolidator
Debt Strike
2021.12.24 02:01 Debt Strike
DebtStrike is a place to showcase the actions taken by the Biden Administration to reduce if not outright eliminate student debt for the American people, as well as a place to highlight other debt forgiveness.
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2024.05.14 21:42 malevolentuser I’m really dumb
So …. Man this is hard to write.
I’m about 80k in total debt (mortgage is in wife’s name) between credit cards, car loan, and an unsecured loan that I previously got to consolidate some prior credit card debt. I make really good money for my area(157k in a low cost state) and I can pay the minimums, but I’m not feeling like I’m really making any headway.
I thought for a while I could just put all of my monthly bills into a credit card and pay it off every month with a little left over, but that strategy just doesn’t work for me. My first child is on the way and I’m sick of only having an emergency fund for the next couple of months (12k) if something crazy happens. Realistically I’m making the most money I ever have in my life but I don’t feel like I have much to show for it. Where do I start, I’m clearly too dumb to manage this myself.
I have goodish credit (730) and don’t really want to give up my expensive car ($630/month for a convertible) but it’s feeling more and more like I should just bite the bullet and try to go down to one car, then try to snowball / avalanche plowing money into debt while eating virtually no takeout or restaurant food, then start over on savings.
submitted by malevolentuser to debtfree [link] [comments]
I’m about 80k in total debt (mortgage is in wife’s name) between credit cards, car loan, and an unsecured loan that I previously got to consolidate some prior credit card debt. I make really good money for my area(157k in a low cost state) and I can pay the minimums, but I’m not feeling like I’m really making any headway.
I thought for a while I could just put all of my monthly bills into a credit card and pay it off every month with a little left over, but that strategy just doesn’t work for me. My first child is on the way and I’m sick of only having an emergency fund for the next couple of months (12k) if something crazy happens. Realistically I’m making the most money I ever have in my life but I don’t feel like I have much to show for it. Where do I start, I’m clearly too dumb to manage this myself.
I have goodish credit (730) and don’t really want to give up my expensive car ($630/month for a convertible) but it’s feeling more and more like I should just bite the bullet and try to go down to one car, then try to snowball / avalanche plowing money into debt while eating virtually no takeout or restaurant food, then start over on savings.
2024.05.14 21:40 Psychological_Wall_5 Woo! Progress!
 | Hold on to hope people, things are moving at a snails pace, but much faster than the sloths pace it was before. submitted by Psychological_Wall_5 to BorrowerDefense [link] [comments] TL:DR - loans have been discharged 100%, sites reflect discharge (BD app site doesn't yet), letter from DoE confirms, waiting (impatiently) on refund(s) to arrive in the mail. Refund matches what I paid after loans were consolidated into direct loans. June 1997 - pressured to attend ITT Tech, was told I probably would not get in if I waited. Never graduated, wasn't learning anything. Took out loans (FFELP through CitiBank) and still had to pay $300+ a month to attend. 1998 - 2000 - tried paying on loans, defaulted 2005 - loans consolidated into direct loans, tried paying, defaulted 2010 - 2016 - Debt Resolution Group garnished my wages (2016 switched jobs, garnishments didn't follow) February 2017 - Treasury Offset for all but $86 of my loan (apparently they could only take so much of my tax refund) February 2017 - applied for borrowers defense June 19, 2017 (ish) - DoE reviewing borrowers defense claim February 2018 - paid off remaining balance of loan ($86) December 12, 2019 - Nelnet emails approval of borrowers defense claim forbearance December 18, 2019 - Rec'd notification of Sweet vs Cardona class action lawsuit May 20, 2020 - DoE denies borrowers defense claim June 16, 2020 - DoE email stating my borrowers defense claim is back under review August 18, 2022 - DoE emails another letter regarding borrowers defense claim and Sweet vs Cardona lawsuit February 28, 2023 - Rec'd approval of borrowers defense application from DoE for full discharge March 21, 2023 - $368.88 credited to my Nelnet account from the DoE due to it taking so long to review my borrowers defense claim. May 19, 2023 - Rec'd 2 notices on the Nelnet site stating loans #006 and #007 had been paid off. No record of those loans on Nelnet, they were originally through USA Funds, now Ascendium Education. May 24, 2023 - Rec'd email response from Nelnet regarding payoff letters June 20, 2023 - waiting on refund and more information. Loans were fully paid off in 2018 and I can't find information on how much was actually paid into them, other than $17.5k through garnishments of wages and tax refunds after default November 29, 2023 - noticed my student loans on the debt resolution portal reflected negative balances December 12, 2023 - received a letter from the DoE stating the application for discharge of my student loans had been approved. Letter showed original amounts of loans (at consolidation) February 21, 2024 - called debt resolution group regarding a refund owed on my account, rep stated I was owed one and would start the process February 22, 2024 - account on debt resolution site stated refund request started February 23, 2024 - account on debt resolution site stated refund request was internally rejected April 12, 2024 - submitted a complaint regarding my refund being rejected on the debt resolution site April 15, 2024 - received a call (went to vm) stating that it wasn't rejected, just in hiatus for review and they would reinstate the refund request, website reflected refund request started April 20, 2024 - refund request internally rejected, again April 30, 2024 - submitted another complaint regarding refund request May 9, 2024 - student loans reflected positive and negative balances, showed progress on refunds being processed May 13, 2024 - one loan showed in default with $865 due (part of the process, I assumed) May 14, 2024 (today!) - received letter (shown) from DoE stating my BD had been processed and I was receiving a refund of $17,505 and change. Have not received any checks as of yet. Checked debt resolution site and my loans are both at $0! Now I'm waiting (impatiently) for the refund to arrive. Both of my girls are graduating (one high school, one college) this year and I want to take them on a small trip to celebrate. Will update with more information. |
2024.05.14 20:17 Logical-Outside-9119 Good credit score, but not able to get a loan due to short credit history (new to the UK)
I’m wondering what I should do in this situation. I have moved to the UK and while I don’t have citizenship or ILR, I plan on being here for years to come. I have lived in the UK for 4 months, and I have accounts here, I’m paid into my accounts here, I have automatic bill payments (wifi, phone, council tax) and my credit score is decent - 919.
I want to bring over my finances fully from my home country, Canada, which includes consolidating some debts. Although I have a good credit score both there and in the UK, I don’t have much savings and I’m looking to consolidate about £8,000 debt (just graduated uni which I didn’t have any financial assistance for which explains this). However, I think my credit history isn’t long enough in the UK which is causing loan applications to be declined. Constantly transferring money back to Canada to cover my loan payments is really affecting my ability to save money and I don’t know what to do. I just want all my debt in one streamlined place with a single monthly payment and lower interest.
Any advice?
submitted by Logical-Outside-9119 to UKPersonalFinance [link] [comments]
I want to bring over my finances fully from my home country, Canada, which includes consolidating some debts. Although I have a good credit score both there and in the UK, I don’t have much savings and I’m looking to consolidate about £8,000 debt (just graduated uni which I didn’t have any financial assistance for which explains this). However, I think my credit history isn’t long enough in the UK which is causing loan applications to be declined. Constantly transferring money back to Canada to cover my loan payments is really affecting my ability to save money and I don’t know what to do. I just want all my debt in one streamlined place with a single monthly payment and lower interest.
Any advice?
2024.05.14 20:01 IntelligentAgent7999 how to get out of small business debt
I've owned a small towing operation for three years now- and we are $100K in debt, both personal and business. All my personal debt however are mostly startup funds for said business. Most of our small loans (equipment, etc) are ending within the next year and a half, which is great- and according to our debt planner we should be out of debt within almost time frame. But I don't believe that. I feel crushed under the weight of debt and with business slowing down the worst it ever has, we are struggling. I've contacted a local bank to see if we can secure a consolidation loan, I've tried personal loans (waiting to hear back) but I feel like I'm exhausting all my options. At this point we want to consolidate everything into one payment and possibly sell the business. Does ANYONE out there have any tips? Been in the same situation? These were not frivolous purchases- they are all business related credit cards.
submitted by IntelligentAgent7999 to personalfinance [link] [comments]
2024.05.14 19:51 wlady4000 7 valuable lessons on how to achieve financial breakthrough
Certainly! Let's amplify the solutions to each of the challenges mentioned earlier:
1.Enhancing Financial Literacy:
2.Living Below Your Means:
7.Cultivating a Positive Money Mindset:
By amplifying these solutions and integrating them into your financial strategy, you can overcome challenges and make meaningful progress towards financial freedom. Remember that consistency and perseverance are key to long-term success.
submitted by wlady4000 to u/wlady4000 [link] [comments]
1.Enhancing Financial Literacy:
- Utilize a combination of resources such as books, podcasts, online courses, and workshops to deepen your understanding of personal finance.
- Engage with financial communities or forums where you can exchange ideas, ask questions, and learn from others' experiences.
- Consider working with a financial advisor who can provide personalized guidance and education tailored to your specific financial situation and goals.
2.Living Below Your Means:
- Create a detailed budget that clearly outlines your income, expenses, and savings goals. Use budgeting apps or spreadsheets to track your spending and identify areas where you can cut back.
- Practice mindful spending by questioning purchases and considering their long-term impact on your financial goals.
- Automate your savings by setting up recurring transfers to a separate savings account or investment account.
- Reducing Living Expenses:
- Negotiate with service providers to lower bills or switch to more affordable alternatives.
- Look for opportunities to share housing costs by living with roommates or family members.
- Explore cost-saving measures such as energy-efficient appliances, meal planning, or DIY home maintenance to lower utility and grocery bills.
- Debt Repayment Strategies:
- Prioritize high-interest debt repayment while making minimum payments on other debts.
- Consider debt consolidation through balance transfers, personal loans, or debt management plans to streamline payments and reduce interest rates.
- Explore opportunities to increase your income through freelance work, part-time jobs, or selling unused items to accelerate debt repayment.
- Building Discipline and Self-Control:
- Set clear financial goals with specific milestones and deadlines to stay motivated.
- Practice delaying gratification by implementing a 24-hour rule for non-essential purchases.
- Surround yourself with supportive accountability partners who can encourage and hold you accountable for sticking to your financial plan.
- Building an Emergency Fund:
- Start small by setting aside a portion of your income each month until you reach your desired emergency fund goal.
- Consider automating contributions to your emergency fund to ensure consistent savings.
- Keep your emergency fund in a separate, easily accessible account, such as a high-yield savings account or money market account.
7.Cultivating a Positive Money Mindset:
- Practice gratitude for what you have and celebrate small wins along your financial journey.
- Visualize your financial goals and affirm your ability to achieve them through positive self-talk.
- Surround yourself with inspirational resources, whether it's books, podcasts, or mentors, that reinforce a growth-oriented mindset towards money.
By amplifying these solutions and integrating them into your financial strategy, you can overcome challenges and make meaningful progress towards financial freedom. Remember that consistency and perseverance are key to long-term success.
2024.05.14 19:50 JoshM3250 In serious need to getting my financial act together. Where do I turn for help?
This post has the potential to be a bit long, so please bear with me...
A question I often ask myself is "are there financial planners for people like me who don't have a ton of money and often barely make ends meet?" So now, I guess I'm asking this sub. I don't know where to turn at this point in my life, which has been riddled with terrible financial decisions, bad luck, and family health issues.
About me: 39, male, USA. I work full-time for a health care company in Pennsylvania, making right around $88K yearly before taxes and deductions. My wife is unable to work due to a variety of health issues (both mental and physical), but does have a small Etsy shop that brings in an average of $300 on a good month. We have an unusually large family by today's standards -- 7 children ranging from 6 years old (twins) to 17. This is the part where people usually look at me like I have three heads, understandably so. Before my wife's health issues, she was a paramedic and in nursing school. So the plan was to eventually have two incomes once the kids were a bit older, but life didn't turn out that way. And before anyone asks, yes, we are done with having kids. I love them all more than life itself and would never imagine a world without them, but I am smart enough now to know that it would not have been this hard with fewer kids.
It's been very hard (nay, impossible) to get by on one income and a large family, even with some help from relatives along the way. But through it all, we have barely made it work, although I have shot my credit to hell and back in the process. My score hovers around 550 to 570 most of the time, but plummets pretty fast if I miss a payment on something.
Right now, high interest debt is my main issue. I have a variety of low-limit credit cards all maxed out (probably $5k total) a personal loan from OneMain Financial ($400 payment), an auto loan from Carvana/BridgeCrest ($508 payment, worst mistake of my life honestly but was in a desperate situation at the time), and student loans I've had to either defer or flat out stop paying. Other high expenses are groceries, obviously, but I do get $600 in SNAP benefits each month, car insurance at $250 per month because my wife has gotten into a few accidents the last 5 years, and of course rent, which is $1,900 since we need a 5-bedroom house for our large family. We used to own our home but were forced to sell in 2022 due to a variety of issues and our dire need to find a larger place to live for our growing kids.
Suffice to say, most months we either barely make ends meet, or don't at all. I sometimes have to rely on cash advance apps like MoneyLion and Earnin just to make it to the next payday. I have pretty much nothing in savings except for a very small "retirement" account, which is in quotes because I contribute 1% to it just to get my company match. I drained it a few years ago during an emergency that is too long of a story to tell here.
Everyone that I have talked to has said the same essential thing -- to look for a higher-paying job. While this is true, it's more complicated than that in reality. My current job (which I have been at for 1.5 years) affords me the flexibility to work from home most days, and understands that I need to care for my wife (who has substantial mental health issues) and kids and not be "on" 100% of the time. That is often more valuable than a higher salary, but I do know that I am capable and skilled enough in my field to eventually take a shot at a higher paying job.
So. What the heck do I do? Is there someone I can talk to about all this, who can give me real, practical advice? Would a credit union be able to help me with my high-interest debt yet terrible credit score/profile? Ideally, I would love to be able to consolidate all my debt into something more manageable. Is that even a possibility with my credit being bad? I get mail offers all the time saying I am "pre-selected" or pre-approved for a consolidation loan from some random company. I think these are all debt relief companies or possibly a scam, right? I am also severely underwater with our current vehicle as mentioned above. I owe probably 8k more than what it's worth right now, and the van is pretty much a lemon with how many problems it has.
Thank you for reading all this. I am a fairly positive person (I have to be, with the kids and taking care of my wife) but this feels pretty hopeless to me right now. I just wish I could hand over everything to someone who can manage my finances for me, and do the heavy lifting to get things under control. Sigh.
submitted by JoshM3250 to povertyfinance [link] [comments]
A question I often ask myself is "are there financial planners for people like me who don't have a ton of money and often barely make ends meet?" So now, I guess I'm asking this sub. I don't know where to turn at this point in my life, which has been riddled with terrible financial decisions, bad luck, and family health issues.
About me: 39, male, USA. I work full-time for a health care company in Pennsylvania, making right around $88K yearly before taxes and deductions. My wife is unable to work due to a variety of health issues (both mental and physical), but does have a small Etsy shop that brings in an average of $300 on a good month. We have an unusually large family by today's standards -- 7 children ranging from 6 years old (twins) to 17. This is the part where people usually look at me like I have three heads, understandably so. Before my wife's health issues, she was a paramedic and in nursing school. So the plan was to eventually have two incomes once the kids were a bit older, but life didn't turn out that way. And before anyone asks, yes, we are done with having kids. I love them all more than life itself and would never imagine a world without them, but I am smart enough now to know that it would not have been this hard with fewer kids.
It's been very hard (nay, impossible) to get by on one income and a large family, even with some help from relatives along the way. But through it all, we have barely made it work, although I have shot my credit to hell and back in the process. My score hovers around 550 to 570 most of the time, but plummets pretty fast if I miss a payment on something.
Right now, high interest debt is my main issue. I have a variety of low-limit credit cards all maxed out (probably $5k total) a personal loan from OneMain Financial ($400 payment), an auto loan from Carvana/BridgeCrest ($508 payment, worst mistake of my life honestly but was in a desperate situation at the time), and student loans I've had to either defer or flat out stop paying. Other high expenses are groceries, obviously, but I do get $600 in SNAP benefits each month, car insurance at $250 per month because my wife has gotten into a few accidents the last 5 years, and of course rent, which is $1,900 since we need a 5-bedroom house for our large family. We used to own our home but were forced to sell in 2022 due to a variety of issues and our dire need to find a larger place to live for our growing kids.
Suffice to say, most months we either barely make ends meet, or don't at all. I sometimes have to rely on cash advance apps like MoneyLion and Earnin just to make it to the next payday. I have pretty much nothing in savings except for a very small "retirement" account, which is in quotes because I contribute 1% to it just to get my company match. I drained it a few years ago during an emergency that is too long of a story to tell here.
Everyone that I have talked to has said the same essential thing -- to look for a higher-paying job. While this is true, it's more complicated than that in reality. My current job (which I have been at for 1.5 years) affords me the flexibility to work from home most days, and understands that I need to care for my wife (who has substantial mental health issues) and kids and not be "on" 100% of the time. That is often more valuable than a higher salary, but I do know that I am capable and skilled enough in my field to eventually take a shot at a higher paying job.
So. What the heck do I do? Is there someone I can talk to about all this, who can give me real, practical advice? Would a credit union be able to help me with my high-interest debt yet terrible credit score/profile? Ideally, I would love to be able to consolidate all my debt into something more manageable. Is that even a possibility with my credit being bad? I get mail offers all the time saying I am "pre-selected" or pre-approved for a consolidation loan from some random company. I think these are all debt relief companies or possibly a scam, right? I am also severely underwater with our current vehicle as mentioned above. I owe probably 8k more than what it's worth right now, and the van is pretty much a lemon with how many problems it has.
Thank you for reading all this. I am a fairly positive person (I have to be, with the kids and taking care of my wife) but this feels pretty hopeless to me right now. I just wish I could hand over everything to someone who can manage my finances for me, and do the heavy lifting to get things under control. Sigh.
2024.05.14 19:48 T1DPilotguy Unique situation
So as the title says, I am in a bit of a pickle with the amount of debt that I have, but I feel like it is a bit more uncommon than most situations and I am wondering what my options are.
So I went to school to become a pilot and partway through I was diagnosed with type one diabetes, which is an automatic disqualify which is an automatic disqualifier for an FAA commercial for an FAA commercial medical. However, you can jump through a bunch of hoops in hopes to get a special issuance medical certificate.
So I elected to continue my training all the way through a multi engine commercial certificate and partway through my certified flight instructor license before I decided that my health wasn’t going to be good enough to meet standards for a special issuance medical and I changed majors. However, I racked up $180,000 in debt; 140k in private and 40k in government loans.
Currently, I’m using the snowball method to tackle this, but my payments are roughly $1600/mo wondering if there’s any way to help relieve this. I was able to get on the save program for my government loan so I only paid $50 a month for that. I also don’t want to consolidate my loans because my interest rates vary between 3% and 4.6%.
Any advice or programs that I could apply for to help eliminate some of this debt? Is it also possible work around way to apply for bankruptcy? could I potentially sue my school to get some of that money back?
submitted by T1DPilotguy to debtfree [link] [comments]
So I went to school to become a pilot and partway through I was diagnosed with type one diabetes, which is an automatic disqualify which is an automatic disqualifier for an FAA commercial for an FAA commercial medical. However, you can jump through a bunch of hoops in hopes to get a special issuance medical certificate.
So I elected to continue my training all the way through a multi engine commercial certificate and partway through my certified flight instructor license before I decided that my health wasn’t going to be good enough to meet standards for a special issuance medical and I changed majors. However, I racked up $180,000 in debt; 140k in private and 40k in government loans.
Currently, I’m using the snowball method to tackle this, but my payments are roughly $1600/mo wondering if there’s any way to help relieve this. I was able to get on the save program for my government loan so I only paid $50 a month for that. I also don’t want to consolidate my loans because my interest rates vary between 3% and 4.6%.
Any advice or programs that I could apply for to help eliminate some of this debt? Is it also possible work around way to apply for bankruptcy? could I potentially sue my school to get some of that money back?
2024.05.14 19:45 wlady4000 Why us so had to save money and achieve financial freedom and how to overcome it
Saving money and achieving financial freedom can indeed be challenging due to various factors, but understanding these hurdles and implementing strategies to overcome them can pave the way towards financial success.
submitted by wlady4000 to u/wlady4000 [link] [comments]
- Lack of Financial Literacy: Many people struggle with managing their finances simply because they lack the necessary knowledge about budgeting, investing, and saving. Without a solid understanding of financial principles, it's easy to fall into patterns of overspending and debt. Overcoming: Educate yourself about personal finance through books, online resources, or even financial literacy courses. Understanding basic concepts like budgeting, compound interest, and investment strategies can empower you to make informed decisions about your money.
- Living Beyond Means: In today's consumer-driven culture, there's often pressure to keep up with the latest trends and maintain a certain lifestyle, even if it means spending more than you earn. This mentality leads to excessive spending and makes it difficult to save. Overcoming: Practice living below your means by creating a budget that prioritizes saving and investing over unnecessary expenses. Differentiate between needs and wants, and be mindful of your spending habits. Focus on long-term financial goals rather than short-term gratification.
- High Cost of Living: Rising expenses such as housing, healthcare, and education can eat into your income, leaving little room for saving and investing. Overcoming: Explore ways to reduce your living expenses, such as downsizing to a smaller home, renegotiating bills, or finding cheaper alternatives for necessities. Consider relocating to areas with lower costs of living if feasible. Additionally, look for ways to increase your income through side hustles or advancing your career.
- Debt Burden: Debt, especially high-interest consumer debt like credit card balances, can significantly impede your ability to save and invest for the future. Paying off debt often takes precedence over saving, leading to a cycle of financial stress. Overcoming: Prioritize debt repayment by adopting strategies like the debt snowball or debt avalanche method. Cut discretionary spending and allocate the savings towards paying off debt faster. Consider consolidating high-interest debt or negotiating with creditors for lower interest rates.
- Lack of Discipline: Saving money requires discipline and self-control, which can be challenging in a world filled with temptations and instant gratification. Impulse purchases and lifestyle inflation can derail your savings goals. Overcoming: Develop good financial habits by automating your savings and investments, setting up separate accounts for different financial goals, and tracking your spending regularly. Create barriers to impulse spending, such as implementing a waiting period before making non-essential purchases. Surround yourself with supportive friends and family who share similar financial goals.
- Unexpected Expenses and Emergencies: Financial setbacks like medical emergencies, car repairs, or job loss can derail your savings progress and force you to dip into your savings or accumulate debt. Overcoming: Build an emergency fund to cover 3-6 months' worth of living expenses, so you're prepared for unforeseen circumstances. Make regular contributions to this fund until you reach your target amount. Consider purchasing insurance policies like health insurance, car insurance, and disability insurance to mitigate the financial impact of unexpected events.
- Psychological Barriers: Deep-seated beliefs and emotions about money inherited from childhood or past experiences can influence your financial behavior. Fear of failure, scarcity mindset, or feelings of unworthiness can sabotage your efforts to save and invest. Overcoming: Practice mindfulness and self-awareness to identify and challenge limiting beliefs about money. Cultivate a positive money mindset by focusing on abundance rather than scarcity. Surround yourself with positive influences and seek support from a financial advisor or therapist if necessary.
2024.05.14 19:41 JoshM3250 In desperate need to get my financial act together. Where should I go for advice?
This post has the potential to be a bit long, so please bear with me...
A question I often ask myself is "are there financial planners for people like me who don't have a ton of money and often barely make ends meet?" So now, I guess I'm asking this sub. I don't know where to turn at this point in my life, which has been riddled with terrible financial decisions, bad luck, and family health issues.
About me: 39, male, USA. I work full-time for a health care company in Pennsylvania, making right around $88K yearly before taxes and deductions. My wife is unable to work due to a variety of health issues (both mental and physical), but does have a small Etsy shop that brings in an average of $300 on a good month. We have an unusually large family by today's standards -- 7 children ranging from 6 years old (twins) to 17. This is the part where people usually look at me like I have three heads, understandably so. Before my wife's health issues, she was a paramedic and in nursing school. So the plan was to eventually have two incomes once the kids were a bit older, but life didn't turn out that way. And before anyone asks, yes, we are done with having kids. I love them all more than life itself and would never imagine a world without them, but I am smart enough now to know that it would not have been this hard with fewer kids.
It's been very hard (nay, impossible) to get by on one income and a large family, even with some help from relatives along the way. But through it all, we have barely made it work, although I have shot my credit to hell and back in the process. My score hovers around 550 to 570 most of the time, but plummets pretty fast if I miss a payment on something.
Right now, high interest debt is my main issue. I have a variety of low-limit credit cards all maxed out (probably $5k total) a personal loan from OneMain Financial ($400 payment), an auto loan from Carvana/BridgeCrest ($508 payment, worst mistake of my life honestly but was in a desperate situation at the time), and student loans I've had to either defer or flat out stop paying. Other high expenses are groceries, obviously, but I do get $600 in SNAP benefits each month, car insurance at $250 per month because my wife has gotten into a few accidents the last 5 years, and of course rent, which is $1,900 since we need a 5-bedroom house for our large family. We used to own our home but were forced to sell in 2022 due to a variety of issues and our dire need to find a larger place to live for our growing kids.
Suffice to say, most months we either barely make ends meet, or don't at all. I sometimes have to rely on cash advance apps like MoneyLion and Earnin just to make it to the next payday. I have pretty much nothing in savings except for a very small "retirement" account, which is in quotes because I contribute 1% to it just to get my company match. I drained it a few years ago during an emergency that is too long of a story to tell here.
Everyone that I have talked to has said the same essential thing -- to look for a higher-paying job. While this is true, it's more complicated than that in reality. My current job (which I have been at for 1.5 years) affords me the flexibility to work from home most days, and understands that I need to care for my wife (who has substantial mental health issues) and kids and not be "on" 100% of the time. That is often more valuable than a higher salary, but I do know that I am capable and skilled enough in my field to eventually take a shot at a higher paying job.
So. What the heck do I do? Is there someone I can talk to about all this, who can give me real, practical advice? Would a credit union be able to help me with my high-interest debt yet terrible credit score/profile? Ideally, I would love to be able to consolidate all my debt into something more manageable. Is that even a possibility with my credit being bad? I get mail offers all the time saying I am "pre-selected" or pre-approved for a consolidation loan from some random company. I think these are all debt relief companies or possibly a scam, right? I am also severely underwater with our current vehicle as mentioned above. I owe probably 8k more than what it's worth right now, and the van is pretty much a lemon with how many problems it has.
Thank you for reading all this. I am a fairly positive person (I have to be, with the kids and taking care of my wife) but this feels pretty hopeless to me right now. I just wish I could hand over everything to someone who can manage my finances for me, and do the heavy lifting to get things under control. Sigh.
submitted by JoshM3250 to Money [link] [comments]
A question I often ask myself is "are there financial planners for people like me who don't have a ton of money and often barely make ends meet?" So now, I guess I'm asking this sub. I don't know where to turn at this point in my life, which has been riddled with terrible financial decisions, bad luck, and family health issues.
About me: 39, male, USA. I work full-time for a health care company in Pennsylvania, making right around $88K yearly before taxes and deductions. My wife is unable to work due to a variety of health issues (both mental and physical), but does have a small Etsy shop that brings in an average of $300 on a good month. We have an unusually large family by today's standards -- 7 children ranging from 6 years old (twins) to 17. This is the part where people usually look at me like I have three heads, understandably so. Before my wife's health issues, she was a paramedic and in nursing school. So the plan was to eventually have two incomes once the kids were a bit older, but life didn't turn out that way. And before anyone asks, yes, we are done with having kids. I love them all more than life itself and would never imagine a world without them, but I am smart enough now to know that it would not have been this hard with fewer kids.
It's been very hard (nay, impossible) to get by on one income and a large family, even with some help from relatives along the way. But through it all, we have barely made it work, although I have shot my credit to hell and back in the process. My score hovers around 550 to 570 most of the time, but plummets pretty fast if I miss a payment on something.
Right now, high interest debt is my main issue. I have a variety of low-limit credit cards all maxed out (probably $5k total) a personal loan from OneMain Financial ($400 payment), an auto loan from Carvana/BridgeCrest ($508 payment, worst mistake of my life honestly but was in a desperate situation at the time), and student loans I've had to either defer or flat out stop paying. Other high expenses are groceries, obviously, but I do get $600 in SNAP benefits each month, car insurance at $250 per month because my wife has gotten into a few accidents the last 5 years, and of course rent, which is $1,900 since we need a 5-bedroom house for our large family. We used to own our home but were forced to sell in 2022 due to a variety of issues and our dire need to find a larger place to live for our growing kids.
Suffice to say, most months we either barely make ends meet, or don't at all. I sometimes have to rely on cash advance apps like MoneyLion and Earnin just to make it to the next payday. I have pretty much nothing in savings except for a very small "retirement" account, which is in quotes because I contribute 1% to it just to get my company match. I drained it a few years ago during an emergency that is too long of a story to tell here.
Everyone that I have talked to has said the same essential thing -- to look for a higher-paying job. While this is true, it's more complicated than that in reality. My current job (which I have been at for 1.5 years) affords me the flexibility to work from home most days, and understands that I need to care for my wife (who has substantial mental health issues) and kids and not be "on" 100% of the time. That is often more valuable than a higher salary, but I do know that I am capable and skilled enough in my field to eventually take a shot at a higher paying job.
So. What the heck do I do? Is there someone I can talk to about all this, who can give me real, practical advice? Would a credit union be able to help me with my high-interest debt yet terrible credit score/profile? Ideally, I would love to be able to consolidate all my debt into something more manageable. Is that even a possibility with my credit being bad? I get mail offers all the time saying I am "pre-selected" or pre-approved for a consolidation loan from some random company. I think these are all debt relief companies or possibly a scam, right? I am also severely underwater with our current vehicle as mentioned above. I owe probably 8k more than what it's worth right now, and the van is pretty much a lemon with how many problems it has.
Thank you for reading all this. I am a fairly positive person (I have to be, with the kids and taking care of my wife) but this feels pretty hopeless to me right now. I just wish I could hand over everything to someone who can manage my finances for me, and do the heavy lifting to get things under control. Sigh.
2024.05.14 19:36 Advanced-Toe-2270 im trying to decide between keeping my low mortgage interest rate or taking a refi at a higher rate that will free up cash flow
hi all. thanks for reading, this is a throwaway since people know my reddit...a little background... i have a home with a 2.8% interest and $100,000 in equity. i pay $1400 a month. i have several other monthly payments (not including monthly maintenance and utilities) that total $2620. i have attempted to get a heloc or loan but my credit score is in the trash since i consolidated some other debt. i have been working a snowball debt plan and i can have it paid off by 2030. i have found out that i can do a cash out refi with my lower credit score that would make my mortgage payment $2000 at 6%, but by taking most of my equity out, i could pay off all of that other debt and free up cash flow of $2000 a month. i can save more and can do some work on my home. im torn because i dont want to give up my low interest rate but im stretched so thin every month. the idea of freeing myself is very appealing even though i would be paying more for my home. any other options i didnt consider? what do you think? tia
submitted by Advanced-Toe-2270 to personalfinance [link] [comments]
2024.05.14 17:59 Then_Marionberry_259 MAY 14, 2024 MAG.TO MAG SILVER REPORTS FIRST QUARTER FINANCIAL RESULTS
 | https://preview.redd.it/w3wbxgjzze0d1.png?width=3500&format=png&auto=webp&s=c343619687a11525804d04f755c495d975b2050d submitted by Then_Marionberry_259 to Treaty_Creek [link] [comments] VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the “Company”) announces the Company’s unaudited consolidated financial results for the three months ended March 31, 2024 (“Q1 2024”). For details of the unaudited condensed interim consolidated financial statements of the Company for the three months ended March 31, 2024 (“Q1 2024 Financial Statements”) and management’s discussion and analysis for the three months ended March 31, 2024 (“Q1 2024 MD&A”), please see the Company’s filings on the System for Electronic Document Analysis and Retrieval Plus (“SEDAR+”) at ( www.sedarplus.ca ) or on the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) at ( www.sec.gov ). All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified (C$ refers to Canadian dollars). KEY HIGHLIGHTS (on a 100% basis unless otherwise noted)
1 Adjusted EBITDA, total cash costs, cash cost per ounce, all-in sustaining costs, all-in sustaining cost per ounce and free cash flow are non-IFRS measures, please see below ‘ Non-IFRS Measures ’ section and section 12 of the Q1 2024 MD&A for a detailed reconciliation of these measures to the Q1 2024 Financial Statements. 2 Equivalent silver head grade and equivalent silver production have been calculated using the following price assumptions to translate gold, lead and zinc to “equivalent” silver head grade and “equivalent” silver production: $23/oz silver, $1,950/oz gold, $0.95/lb lead and $1.15/lb zinc. 3 Equivalent silver ounces sold have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver ounces sold (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc. CORPORATE
4 Information contained in or otherwise accessible through the Company’s website, including the 2022 sustainability report and MAG Silver 2022 ESG Data Table, do not form part of this News Release and are not incorporated into this News Release by reference. EXPLORATION
https://preview.redd.it/qdr6asmzze0d1.png?width=720&format=png&auto=webp&s=aaedd0020755eaf3404201557cc9623acc995125 JUANICIPIO RESULTS All results of Juanicipio in this section are on a 100% basis, unless otherwise noted. Operating Performance The following table and subsequent discussion provide a summary of the operating performance of Juanicipio for the three months ended March 31, 2024 and 2023, unless otherwise noted. https://preview.redd.it/9txq8snzze0d1.png?width=720&format=png&auto=webp&s=0089cf57573e8834bdb641cf9e055619e6f6c5b2 (1) Equivalent silver head grades have been calculated using the following price assumptions to translate gold, lead and zinc to “equivalent” silver head grade: $23/oz silver, $1,950/oz gold, $0.95/lb lead and $1.15/lb zinc (Q1 2023: $21.85/oz silver, $1,775/oz gold, $0.915/lb lead and $1.30/lb zinc). (2) Equivalent silver payable ounces have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023 realized prices of $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). During the three months ended March 31, 2024 a total of 325,081 tonnes of ore were mined. This represents an increase of 45% over Q1 2023. Increases in mined tonnages at Juanicipio have been driven by the operational ramp up of the mine towards steady state targets. During the three months ended March 31, 2024 a total of 325,683 tonnes of ore were processed through the Juanicipio plant; no ore was processed at the nearby Fresnillo and Saucito processing plants (100% owned by Fresnillo). This represents an increase of 47% over Q1 2023. The increase in milled tonnage has been driven by the Juanicipio mill commissioning and operational ramp up to nameplate capacity over the course of 2023. The silver head grade and equivalent silver head grade for the ore processed in the three months ended March 31, 2024 was 476 g/t and 713 g/t, respectively (three months ended March 31, 2023: 363 g/t and 530 g/t, respectively). Head grades in Q1 2023 were lower as low-grade commissioning stockpiles were processed through the Juanicipio plant. Silver metallurgical recovery during Q1 2024 was 89.1% (Q1 2023: 87.0%) reflecting ongoing optimizations in the processing plant. The following table provides a summary of the total cash costs 5 and all-in sustaining costs 5 (“AISC”) of Juanicipio for the three months ended March 31, 2024, and 2023. https://preview.redd.it/riqz1yozze0d1.png?width=720&format=png&auto=webp&s=c5f2edde6bc789d2d379ca3a910beaa1cb262bde ________________________ 5 Total cash costs, cash cost per ounce, cash cost per equivalent ounce, all-in sustaining costs, all-in sustaining cost per ounce, and all-in sustaining cost per equivalent ounce are non-IFRS measures, please see the “ Non-IFRS Measures ” section below and section 12 of the Q1 2024 MD&A for a detailed reconciliation of these measures to the Q1 2024 Financial Statements. Equivalent silver ounces sold have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver ounces sold (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). Financial Results The following table presents excerpts of the financial results of Juanicipio for the three months ended March 31, 2024 and 2023. https://preview.redd.it/4zym5dqzze0d1.png?width=720&format=png&auto=webp&s=d25c91cabc7f6c6b35ff61acacc0160f3dfac2e7 Sales increased by $72,207 during the three months ended March 31, 2024, mainly due to 179% higher metal volumes and 2% higher realized metal prices. Offsetting higher sales was higher production cost ($9,409) which was driven by higher sales and operational ramp-up in mining and processing, including $3,545 in inventory movements, and higher depreciation ($14,083) as the Juanicipio mill achieved commercial production and commenced depreciating the processing facility and associated equipment in June 2023. Operating margin increased by 21% to 52%, mainly due to operational leverage and the lower reliance on the nearby Fresnillo and Saucito processing facilities. Other expenses increased by $2,159 mainly as a result of higher extraordinary mining and other duties ($872) in relation to higher precious metal revenues from the sale of concentrates and higher consulting and administrative expenses ($2,690) as an operator services agreement became effective upon initiation of commercial production (the “Operator Services Agreement”), offset by lower exchange losses and other costs ($1,566). Taxes increased by $20,980 impacted by higher taxable profits generated during Q1 2024, and non-cash deferred tax credits related to the commencement of use of plant and equipment in Q1 2023. Ore Processed at Juanicipio Plant (100% basis) https://preview.redd.it/koajybrzze0d1.png?width=720&format=png&auto=webp&s=caf1b70c53c47d371b9cebd743877fcd4ae59ba3 (1) The underground mine was considered readied for its intended use on January 1, 2022, whereas the Juanicipio processing facility started commissioning and ramp-up activities in January 2023, achieving commercial production status on June 1, 2023. (2) Includes toll milling costs from processing mineralized material at the Saucito and Fresnillo plants for Q1 2023. Sales and treatment charges are recorded on a provisional basis and are adjusted based on final assay and pricing adjustments in accordance with the offtake contracts. MAG FINANCIAL RESULTS – THREE MONTHS ENDED MARCH 31, 2024 As at March 31, 2024, MAG had working capital of $72,833 (December 31, 2023: $67,262) including cash of $74,683 (December 31, 2023: $68,707) and no long-term debt. As well, as at March 31, 2024, Juanicipio had working capital of $107,088 including cash of $30,991 (MAG’s attributable share is 44%). The Company’s net income for the three months ended March 31, 2024 amounted to $14,895 (March 31, 2023: $4,713) or $0.14/share (March 31, 2023: $0.05/share). MAG recorded its 44% income from equity accounted investment in Juanicipio of $19,244 (March 31, 2023: $7,919) which included MAG’s 44% share of net income from operations as well as loan interest earned on loans advanced to Juanicipio (see above for MAG’s share of income from its equity accounted investment in Juanicipio). https://preview.redd.it/5bneimszze0d1.png?width=720&format=png&auto=webp&s=323d988dbd92cf6ca4e815fff071c8ec7f45ee00 NON-IFRS MEASURES The following table provides a reconciliation of cash cost per silver ounce of Juanicipio to production cost of Juanicipio on a 100% basis (the nearest IFRS measure) as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/0jhh2stzze0d1.png?width=720&format=png&auto=webp&s=c97634763bd00967ddd878bc09b8e069687fae68 (1) As Q3 2023 represented the first full quarter of commercial production, information presented for total cash costs together with their associated per unit values are not directly comparable. (2) By-product revenues relates to the sale of other metals namely gold, lead, and zinc. (3) Equivalent silver payable ounces have been calculated using realized prices to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices: $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). The following table provides a reconciliation of AISC of Juanicipio to production cost and various operating expenses of Juanicipio on a 100% basis (the nearest IFRS measure), as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/qkx2r5vzze0d1.png?width=720&format=png&auto=webp&s=0c9cb89471512649ac77b5cbe3177b0621d64835 (1) As Q3 2023 represented the first full quarter of commercial production, information presented for all-in sustaining costs and all-in sustaining margin together with their associated per unit values are not directly comparable. (2) Equivalent silver payable ounces have been calculated using realized prices to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices: $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc, (Q1 2023 realized prices: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). For the three months ended March 31, 2024 the Company incurred corporate G&A expenses of $3,964 (three months ended March 31, 2023: $3,262), which exclude depreciation expense. The Company’s attributable silver ounces sold and equivalent silver ounces sold for the three months ended March 31, 2024 were 1,757,630 and 2,475,862 respectively (three months ended March 31, 2023: 880,429 and 1,230,412 respectively), resulting in additional all‐in sustaining cost for the Company of $2.26/oz and $1.60/oz respectively (three months ended March 31, 2023: $3.71/oz and $2.65/oz respectively), in addition to Juanicipio’s all-in-sustaining costs presented in the above table. The following table provides a reconciliation of EBITDA and Adjusted EBITDA attributable to the Company based on its economic interest in Juanicipio to net income (the nearest IFRS measure) of the Company per the Q1 2024 Financial Statements. All adjustments are shown net of estimated income tax. https://preview.redd.it/sx6jo7wzze0d1.png?width=720&format=png&auto=webp&s=1fea9df2b8195ce579b570935ab24b9939da5988 (1) As Q3 2023 represents the first full quarter of commercial production, information presented for EBITDA and Adjusted EBITDA is not directly comparable. The following table provides a reconciliation of free cash flow of Juanicipio to its cash flow from operating activities on a 100% basis (the nearest IFRS measure), as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/aqnp2dxzze0d1.png?width=720&format=png&auto=webp&s=56db2245eb87ec1f718edc1890b48b9b5d3ad762 (1) As Q3 2023 represents the first full quarter of commercial production, comparative information presented for free cash flow of Juanicipio is not directly comparable. Qualified Persons: All scientific or technical information in this press release including assay results referred to, and mineral resource estimates, if applicable, is based upon information prepared by or under the supervision of, or has been approved by Gary Methven, P.Eng., Vice President, Technical Services and Lyle Hansen, P.Geo, Geotechnical Director; both are “Qualified Persons” for purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects About MAG Silver Corp. MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralised material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada. Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. Certain information contained in this release, including any information relating to MAG’s future oriented financial information, are “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred as “forward-looking statements”), including the “safe harbour” provisions of provincial securities legislation, the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and Section 27A of the U.S. Securities Act. Such forward-looking statements include, but are not limited to:
Forward-looking statements are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. Assumptions underlying the Company’s expectations regarding forward-looking statements contained in this release include, among others: MAG’s ability to carry on its various exploration and development activities including project development timelines, the timely receipt of required approvals and permits, the price of the minerals produced, the costs of operating, exploration and development expenditures, the impact on operations of the Mexican tax and legal regimes, MAG’s ability to obtain adequate financing, outbreaks or threat of an outbreak of a virus or other contagions or epidemic disease will be adequately responded to locally, nationally, regionally and internationally. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements including amongst others: commodities prices; changes in expected mineral production performance; unexpected increases in capital costs or cost overruns; exploitation and exploration results; continued availability of capital and financing; general economic, market or business conditions; risks relating to the Company’s business operations; risks relating to the financing of the Company’s business operations; risks related to the Company’s ability to comply with restrictive covenants and maintain financial covenants pursuant to the terms of the Credit Facility; the expected use of the Credit Facility; risks relating to the development of Juanicipio and the minority interest investment in the same; risks relating to the Company’s property titles; risks related to receipt of required regulatory approvals; pandemic risks; supply chain constraints and general costs escalation in the current inflationary environment heightened by the invasion of Ukraine by Russia and the events relating to the Israel-Hamas war; risks relating to the Company’s financial and other instruments; operational risk; environmental risk; political risk; currency risk; market risk; capital cost inflation risk; risk relating to construction delays; the risk that data is incomplete or inaccurate; the risks relating to the limitations and assumptions within drilling, engineering and socio-economic studies relied upon in preparing economic assessments and estimates, including the 2017 PEA; as well as those risks more particularly described under the heading “Risk Factors” in the Company’s Annual Information Form dated March 27, 2023 available under the Company’s profile on SEDAR+ at www.sedarplus.ca . Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedarplus.ca and www.sec.gov LEI: 254900LGL904N7F3EL14 For further information on behalf of MAG Silver Corp. Contact Michael J. Curlook, Vice President, Investor Relations and Communications Phone: (604) 630-1399 Toll Free: (866) 630-1399 Email:info@magsilver.comhttps://preview.redd.it/d8wzg8yzze0d1.jpg?width=66&format=pjpg&auto=webp&s=a39ec6a39761447bbd4dbd77e92aef49e95e583e https://preview.redd.it/qr1wv0zzze0d1.png?width=4000&format=png&auto=webp&s=fadeb32c9245f8b70d903b1c70321decddf77985
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2024.05.14 17:59 SciaticaHealth Need help on next steps managing 60k in CC debt. Just denied for BOA balance transfer card
I’ve accumulated approximately $60,000 in credit card debt after going through a tough medical situation that necessitated numerous surgeries. I’m a relatively high earner and need a plan to aggressively reduce my debt. After browsing this sub, it seems that obtaining a balance transfer 0% APR card is the best option, but I was just denied by BOA Americard. Should I try and obtain a personal loan?
More context: Income: $215,000/year
Credit card 1: $20,000 at ~28% interest (interest rates are a best guess; don’t have exact % on me)
Credit card 2: $20,500 at ~29% interest
Credit card 3: $21,000 at ~26% interest
Student loan repayment: $3,400/month
Auto loan: $800 month
Rent: $3000/month
Credit: 684 Experian. Every category shows excellent except debt and credit utilization. I’m maxed out for all 3 cards.
I am paying, on average, $550 a month for all three cards on interest alone and need some help figuring out next steps. Do I get a personal loan, a debt consolidation loan, or apply for a different balance transfer credit card?
submitted by SciaticaHealth to personalfinance [link] [comments]
More context: Income: $215,000/year
Credit card 1: $20,000 at ~28% interest (interest rates are a best guess; don’t have exact % on me)
Credit card 2: $20,500 at ~29% interest
Credit card 3: $21,000 at ~26% interest
Student loan repayment: $3,400/month
Auto loan: $800 month
Rent: $3000/month
Credit: 684 Experian. Every category shows excellent except debt and credit utilization. I’m maxed out for all 3 cards.
I am paying, on average, $550 a month for all three cards on interest alone and need some help figuring out next steps. Do I get a personal loan, a debt consolidation loan, or apply for a different balance transfer credit card?
2024.05.14 17:57 DumbMoneyMedia Credit Card Delinquency Rates in the U.S. Mapped by State
 | U.S. credit card balances climbed $50 billion to $1.13 trillion last quarter. This deep analysis explores state-by-state credit card delinquency rate trends. It offers insights into regional economic health and consumer finances. submitted by DumbMoneyMedia to Brokeonomics [link] [comments] Key Takeaways
States with the Highest Credit Card Delinquency RatesCredit card debt continues rising nationwide. Three states face acute financial struggles: Florida, Texas, and Nevada. These regions show concerning economic conditions and consumer financial well-being issues.Florida: The Sunshine State's Credit Card Debt CrisisFlorida has the highest credit card debt challenges. From 2022 to 2023, card debt increased 13.22%. Delinquencies rose 24.65% during that time. Florida's average credit card debt was $4,540, ranking sixth-highest nationally. Its delinquency rate of 11.68% ranked second-highest.Texas: Lone Star State Struggles with Rising Card BalancesTexas had the fourth-highest delinquency rate at 11.19% in Q4 2023. Average credit card debt rose 13.10% from $3,650 to $4,200. Texas ranked 11th for credit card debt as a percentage of income at 5.63%.Nevada: Gambling Mecca Tops the List for DelinquenciesNevada had the nation's highest credit card delinquency rate at 12.95%. Delinquencies grew 23.10% from 2022 to 2023. Average credit card debt increased from $3,860 to $4,490 during that period. Card debt as a percentage of income reached 6.21%, likely impacted by the gambling industry.Mapping Credit Card Delinquency Rates in the U.S. by Statehttps://preview.redd.it/xkpgdjgjze0d1.png?width=1200&format=png&auto=webp&s=3272081cb19a4ed043b552a0e6453b40678bdd3aThe analysis examined credit card debt and delinquency rates. It defined delinquency as balances 90 days late. Data came from the Federal Reserve Bank of New York. It covered all 50 states and Washington D.C. Four of the top 10 states with high delinquency were in the Southeast. Three were in the Northeast. Between Q4 2022 and Q4 2023, debt and delinquency increased nationwide. Credit card debt rose 13.50% across the U.S. The delinquency rate climbed 28.2%. This data reveals regional financial trends and credit card debt analysis.
Strategies for Managing and Reducing Credit Card DebtCredit card debt shouldn't be ignored. One strategy is consolidating debt into a single loan with lower interest. This simplifies repayment and reduces overall debt cost.Refinancing through balance transfers is effective. Take advantage of interest-free promotional periods to pay down principal balances. Start paying balances as soon as possible to avoid more interest. For those with low credit scores, secured cards and cards for rebuilding credit help. These report to major credit bureaus, improving scores over time. This provides access to more favorable financing options. |
2024.05.14 17:46 clark_k3nt AMC Networks (AMCX): The Good, the Bad, and the Ugly from AMCX's Earnings Call
- May 10, 2024
Good:
Financial Metrics:
submitted by clark_k3nt to EarningsCalls [link] [comments]
Good:
- AMC Networks reported strong free cash flow growth in the first quarter of 2024.
- The company has a healthy balance sheet and has extended its debt maturities.
- AMC Networks has a diverse and exciting content slate for the year ahead, including popular shows like The Walking Dead and Orphan Black.
- Consolidated revenue decreased 17% in the first quarter, primarily due to nonrecurring revenue from the previous year.
- Domestic operations revenue decreased 14% in the first quarter, mainly driven by a decline in content licensing revenue.
- Advertising revenue declined 13% in the first quarter due to lower ratings for acquired programming.
- The company did not provide specific details on the percentage of streaming subscribers that come directly through their platform versus third-party platforms.
- AMC Networks did not provide an update on the full-year outlook for affiliate trends, which previously indicated a 10% decline.
- The company did not discuss the impact of competition and market dynamics on ad-supported streaming CPMs.
Financial Metrics:
- Consolidated revenue decreased 17% to $596 million in the first quarter.
- Adjusted operating income was $149 million, representing a 25% margin.
- Generated $144 million of free cash flow in the quarter.
- Domestic operations revenue decreased 14% to $524 million in the first quarter.
- Subscription revenue decreased 7% due to a 14% decline in affiliate revenue.
- Advertising revenue declined 13% due to lower ratings for acquired programming.
- Domestic operations AOI was $162 million for the quarter with a 31% margin.
- International segment revenue was $76 million, representing a decrease of 3%.
- Adjusted operating income for the International segment was $13 million with an 18% margin.
- Ended the quarter with net debt of approximately $1.7 billion and a consolidated net leverage ratio of 2.8 times.
- Approximately $775 million of total liquidity, including $600 million of cash on the balance sheet and an undrawn $175 million revolver.
- AMC Networks serves an aggregated audience of more than 91 million across its linear networks, targeted streaming services, and more than 100 channel feeds on third-party CTV and FAST platforms.
- 70% of AMC Networks' linear footprint is enabled for addressable advertising, with addressable slots in every hour of programming on each network.
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- Popular streaming brands such as Acorn TV, Shudder, ALLBLK, and HIDIVE will have ad-supported versions available on a standalone basis.
- The film Late Night with the Devil had the biggest opening weekend in IFC Films' history and became the number one film in Shudder history.
- Acorn TV unveiled a smart and expansive brand refresh and has a lineup of new seasons of shows coming.
- WE tv is focusing its original strategy on Friday nights with new series and a new season of the Love After Lockup franchise.
- AMC Networks launched new streaming offerings on ITVX, the British ad-supported streaming service operated by ITV, including AMC Stories and soon-to-launch AMC Reality.
- Strong audience performance in southern, central, and northern European divisions, with The Walking Dead: The Ones Who Live becoming the number one show in the history of AMC+ in Spain.
- AMC Networks has a strong content slate for the year ahead, including new seasons of The Walking Dead, Orphan Black: Echoes, and other popular shows.
2024.05.14 17:35 aortiz2020 Drowning in debt
As the title states, I'm drowning in student loan debt. I'm looking for advice, personal experience, anything. I am a physician assistant and semi financially illiterate but trying to learn. I currently (recently) am making 140K. I graduated 3 years ago and I had no assistance from family, scholarships, etc.
I have direct unsub, direct sub, and direct grad loans that add up to 183,445.79. My payments are 805 a month. The payments are doable but ridiculous. Should I consolidate my loans? Keep as is? I'm currently on the SAVE plan.
TIA!
submitted by aortiz2020 to StudentLoans [link] [comments]
I have direct unsub, direct sub, and direct grad loans that add up to 183,445.79. My payments are 805 a month. The payments are doable but ridiculous. Should I consolidate my loans? Keep as is? I'm currently on the SAVE plan.
TIA!
2024.05.14 16:39 Traditional-Bid-2111 I need help with advice
I haven't defaulted on debt yet but I am defaulting on some debt I have 2 capital one credit cards a credit one credit card a synchrony credit card and a unsecured loan one capital one was 1500 one was 440 the credit one was 850 and the synchrony was 100 and the personal loan was 1700 was the amounts before I went into a consolidation program well what incurred these debts my mother lost her job I had the make her car payment my truck payment had to pay the bills groceries etc it was hell n then after several months I went unconscious passed out at the wheel totaled my truck and my job laid me off as well as alot of other a month later while on ui I tryed n tryed n tryed to get all the debtor to settle for less theyd laugh n aay what can you pay im now down 750 bucks in my bank account and i cant afford to keep paying them 130 per month I'm tired of goin without everything I can't seek employment as me being employed has landed my father's critical condition into severe critical condition I have to take care of him and support him and also I wanna add my property 12 acres is gonna be willed to me after my grandma passes idk if debtors will wanna seize property but I'm gonna have to default on this debt IDC what they think my credit score is already getting scalped so its not even doin any good to keep hanging on as soon as I default what's gonna happen? And what do I need to be cautious and look out for
submitted by Traditional-Bid-2111 to legal [link] [comments]
2024.05.14 16:33 Tricky-Molasses-6192 Selling House to Pay Debt?
My husband and I have unfortunately racked up $25,000 in credit card debt in the last two years. Some of it was bad decisions or living outside our means and some of it was just bad luck and life circumstances. Regardless, it’s here now and we have to deal with it.
Personally, I think we need to sell our house to pay it off and get a lower mortgage and lower cost of living. Our mortgage went up $200 this past November because of a tax increase and I just found out our taxes are going to go up again every year for the next 5 years (that’s the plan the current board put out). We have about $150,000 of equity in our house. The only issue is that the housing market sucks so I’m not sure we’d even be able to find something less expensive that can accommodate us and I’ve heard renting is just as bad. We have three kids so I want to keep them in mind and I don’t want to just keep hauling them around moving them every few years.
My husband thinks we should do debt consolidation or bankruptcy but I said that doesn’t solve the issue that we can’t afford this house.
Is it crazy to sell? Are his options better? Is there something we’re missing?
Side note: I’ve been through our budget and even if we never eat out, cut streaming, or do anything extra, we only have about $200 extra per month and that’s paying the minimums on the cards. With random things like car repairs and medical bills popping up, it just doesn’t feel like enough to be able to pay it down.
submitted by Tricky-Molasses-6192 to personalfinance [link] [comments]
Personally, I think we need to sell our house to pay it off and get a lower mortgage and lower cost of living. Our mortgage went up $200 this past November because of a tax increase and I just found out our taxes are going to go up again every year for the next 5 years (that’s the plan the current board put out). We have about $150,000 of equity in our house. The only issue is that the housing market sucks so I’m not sure we’d even be able to find something less expensive that can accommodate us and I’ve heard renting is just as bad. We have three kids so I want to keep them in mind and I don’t want to just keep hauling them around moving them every few years.
My husband thinks we should do debt consolidation or bankruptcy but I said that doesn’t solve the issue that we can’t afford this house.
Is it crazy to sell? Are his options better? Is there something we’re missing?
Side note: I’ve been through our budget and even if we never eat out, cut streaming, or do anything extra, we only have about $200 extra per month and that’s paying the minimums on the cards. With random things like car repairs and medical bills popping up, it just doesn’t feel like enough to be able to pay it down.
2024.05.14 16:17 HombreAlto Help! I’m overwhelmed and making bad decisions
I’m a 58 year old single man. I make about 50k yr and own a home with about 9 yrs left on the mortgage of $850/mth. I have about 30k in loan debts and absolutely no cash flow. I have 2 roommates (one who is a romantic partner) which helps me with about $900 extra a month. Even with the extra income I’m falling behind. I currently have 253k in a 403b which is ok but not at a level of want it to be. I’m driving an 18 year old car that is not going to last forever. Five years ago I felt I was ok with where I was financially but emergencies and unforeseen extra costs on car repairs/leaking shower construction costs have eaten up that cushion. I needed to rely on credit cards just to buy basics like groceries and now have debt consolidation loan payments of $387,$340 and $333 which is over half of my take home pay. The panic and overwhelming sense of failure and financial doom has me paralyzed and unable to think straight. Help!
submitted by HombreAlto to FinancialPlanning [link] [comments]
2024.05.14 15:31 MrCashLoans Quick, Easy, and Personal - Cash Loans!
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2024.05.14 15:25 jillianmd Refund Update - Art Institute Discharge
I got the discharge email on May 1 and like most of us was very curious about the potential refund part.
On May 6, my studentaid.gov updated to show I no longer owed any loans. However Nelnet is still showing my loans on their site as of today. However they have been placed in forbearance now so that’s a positive sign that the discharge is being processed on their end.
This morning, May 14, I have an email from Nelnet saying that I have a new letter so I logged in and it says I have an overpayment and need to verify my address so that I can be issued any refund owed.
I called in and verified my address with a nice rep and she said they didn’t have any info yet on the amount I would be refunded or a timeline but that since my contact info is up to date I don’t have to do anything further and will be contacted again.
Here’s hoping it’s the entirety of my payments so far over the last 10 years (about $30,000!) but we’ll see.
————————————-
Here’s the text of the letter from Nelnet:
Action Needed: You may be owed a refund. Account: EXXXXXXXXX
Dear (me), Our records indicate that we may have received an overpayment on your account listed above. Please contact us through one of these options to verify your address:
• Call Nelnet at 888-486-4722. For our current hours of operation, visit Nelnet.studentaid.gov/content/contact.
• Call us anytime and use the automated system without speaking to a live representative to verify your address; simply follow the prompts.
• Log in to your online account and verify your address by going to the Profile card on the dashboard.
• Write to us at the following address and return this letter after completing the address verification information below: Nelnet P.O. Box 82526 Lincoln, NE 68501-2526 Check this box if the address shown above is correct. If your address is different than what is shown above, please write your correct address here: Street Address: Apartment number, etc.: City, State & ZIP code: We will then finalize the review of your account and issue a refund if one is due. We must verify your address before we can issue any refund due to ensure the refund is sent to your address. We cannot process any refund until your address has been verified.
Please note: • From the time that you call and verify your address, please allow 60 days for receipt of your refund. If we determine you are not owed a refund, we will notify you in writing.
• If your account was paid in full by consolidation or rehabilitation any voluntary payment(s) you made after rehabilitation or consolidation will be forwarded to your new servicer rather than refunded to you.
• This notice pertains only to non-defaulted debts held by the U.S. Department of Education; it does not pertain to debts held by guaranty agencies or to defaulted William D. Ford Federal Direct Loans.
submitted by jillianmd to StudentLoans [link] [comments]
On May 6, my studentaid.gov updated to show I no longer owed any loans. However Nelnet is still showing my loans on their site as of today. However they have been placed in forbearance now so that’s a positive sign that the discharge is being processed on their end.
This morning, May 14, I have an email from Nelnet saying that I have a new letter so I logged in and it says I have an overpayment and need to verify my address so that I can be issued any refund owed.
I called in and verified my address with a nice rep and she said they didn’t have any info yet on the amount I would be refunded or a timeline but that since my contact info is up to date I don’t have to do anything further and will be contacted again.
Here’s hoping it’s the entirety of my payments so far over the last 10 years (about $30,000!) but we’ll see.
————————————-
Here’s the text of the letter from Nelnet:
Action Needed: You may be owed a refund. Account: EXXXXXXXXX
Dear (me), Our records indicate that we may have received an overpayment on your account listed above. Please contact us through one of these options to verify your address:
• Call Nelnet at 888-486-4722. For our current hours of operation, visit Nelnet.studentaid.gov/content/contact.
• Call us anytime and use the automated system without speaking to a live representative to verify your address; simply follow the prompts.
• Log in to your online account and verify your address by going to the Profile card on the dashboard.
• Write to us at the following address and return this letter after completing the address verification information below: Nelnet P.O. Box 82526 Lincoln, NE 68501-2526 Check this box if the address shown above is correct. If your address is different than what is shown above, please write your correct address here: Street Address: Apartment number, etc.: City, State & ZIP code: We will then finalize the review of your account and issue a refund if one is due. We must verify your address before we can issue any refund due to ensure the refund is sent to your address. We cannot process any refund until your address has been verified.
Please note: • From the time that you call and verify your address, please allow 60 days for receipt of your refund. If we determine you are not owed a refund, we will notify you in writing.
• If your account was paid in full by consolidation or rehabilitation any voluntary payment(s) you made after rehabilitation or consolidation will be forwarded to your new servicer rather than refunded to you.
• This notice pertains only to non-defaulted debts held by the U.S. Department of Education; it does not pertain to debts held by guaranty agencies or to defaulted William D. Ford Federal Direct Loans.
2024.05.14 15:23 colemanDC Unique method for paying off CC debt
Normally, I attack my CC debt the Dave Ramsey way using the snowball method.
However, from what I've been told/read over the last few years, credit card consolidation companies (which I have and will always avoid) offer large amounts of money to these credit card companies to pay off the debt amounts. I've also read from other redditors that this is something people could do on their own. To me, it sounds unlikely to have the ability to call in to Discover or Citi Bank and say "I know my CC debt is $9,000, but I'll give you $7,200 right now to pay it off in full".
Is this something that I have the ability to do if I were to fall into a chunk of money? If so, what's the best method to go about this?
Edit: since I’ve never missed a payment, and don’t plan to let my accounts go into default, this is clearly not an option. Thanks, everyone, for the insight!
submitted by colemanDC to personalfinance [link] [comments]
However, from what I've been told/read over the last few years, credit card consolidation companies (which I have and will always avoid) offer large amounts of money to these credit card companies to pay off the debt amounts. I've also read from other redditors that this is something people could do on their own. To me, it sounds unlikely to have the ability to call in to Discover or Citi Bank and say "I know my CC debt is $9,000, but I'll give you $7,200 right now to pay it off in full".
Is this something that I have the ability to do if I were to fall into a chunk of money? If so, what's the best method to go about this?
Edit: since I’ve never missed a payment, and don’t plan to let my accounts go into default, this is clearly not an option. Thanks, everyone, for the insight!
2024.05.14 13:54 crazyhackk Loan required to consolidate debt
Need 25 lakhs of loan to consolidate my debt. In urgent need. Any leads would be appreciated.
submitted by crazyhackk to CRedit [link] [comments]