Debt Collectors

[EllRobersonisInnocent]

 

[420seriouscat69]

Example A

[EllRobersonisInnocent]

 

[bubbles4ksu]

 

[Tobias]

[Tobias]

good luck hub

[Rage Against the McKee]

Selling the house and spending a few years in a small apartment may be your best option.

[BIG APPLE CAT]

good luck hub

Sounds like I'm going to need it!
Okay so next topic i'd like to respond to: housing.  Not sure if there are a lot of viable options here.  I bought the house about 2 years ago, traditional 5% down 30 year note (will have it paid sooner than that since the last couple of years i've used my tax refund to make an extra payment towards principle).  Anyway, even though the market has improved a little since we moved in, i doubt very much the difference would even cover the closing costs.  I think the ultimate result is that i'd end up taking a big loss on the house, would absolutely doom myself to apartment/rental living for at least the next 10 years, and after working in all the factors (longer commute to work, having to move into a really shitty part of town to have a significant reduction in monthly payment going towards housing, loss of tax break on property tax) we might end up netting MAYBE $150/month and that doesn't seem like much of a return on such a reduced quality of life?

[OK_Cat]

Wackycat's rich gf might loan you some cash

[slobber]

Selling the house and spending a few years in a small apartment may be your best option.

This. But you need to do several things. Don't think one step changes this.

Its:
1: Have a second/third job by end of day today.
2: Ebay crap you don't need
3: House on market. Get a cheap one bedroom apartment.
4: One of your cars is sold in a week. Buy a cheap one to replace it, pay cash.
5: Get the collection agency to forgive that debt for a lump some payment.
6: DO NOT get someone to co-sign a loan for you or her. That relationship would be ruined, becasue that only solves the problem short term. You won't be able to pay them back and then they will be the ones getting the calls and that is not going to be a good thing for the relationship you have with them.

0: Set down with your wife and get it all out in the open. 100% of it. Know where the debt came from and when the last payment was made.

That is all a little Dave Ramseyee, but dicking around with this for longer than 5 years would be stupid. You have already went past the point of "some debt is okay". I would safely bet that none of this debt is good debt. All high interest.

[Mrs. Gooch]

Hubs life depresses the crap out of me.  I can't wrap my mind around getting married and not knowing the extent of this beforehand and then being willfully ignorant of it until it reached this level.  There is zero chance this isn't ultimately a divorce.  The best part is that it will be after Hubs has helped her pay all this crap off and then he will be resentful as eff.  It's your fault Hubs, not hers.

She'll probably divorce him the day he sends in the last loan payment.

Sounds like she's a bit of a fuckup.  Very unlikely that this is the only way that she is.  So that means Hubs is also a fuckup or she's somewhat of a reach for him and this is the tradeoff.  Either way it isn't destined to end well.  She isn't gold digging.  They'll split irrespective of how this ends up, but it'll be just another reason for it to be acrimonious and spiteful.  Just an awful way to start a marriage.  I mean what kind of a relationship do you have that this is unknown between the two?  Yikes.  Also who the hell signs up for it?  It's so rough ridin' dipshitty it almost makes me angry and I don't even know them.

I was thinking more along the lines that she'll probably make a run for governor a few years after she divorces him, but nevermind that reference went over everyone's heads.

[420seriouscat69]

Wackycat's rich gf might loan you some cash

I'd suggest you do it, but most Oklahomans are poors too.

[meow meow]

Wackycat's rich gf might loan you some cash

I'd suggest you do it, but most Oklahomans are poors too.

It beats telling ppl you're some badass, when you probably really aren't.

[meow meow]

Hub,

any kids?

[420seriouscat69]

Wackycat's rich gf might loan you some cash

I'd suggest you do it, but most Oklahomans are poors too.

It beats telling ppl you're some badass, when you probably really aren't.

huh?

[OK_Cat]

Wackycat's rich gf might loan you some cash

I'd suggest you do it, but most Oklahomans are poors too.

No student loans here, friend. 

[slobber]

I was thinking more along the lines that she'll probably make a run for governor a few years after she divorces him, but nevermind that reference went over everyone's heads.

I GOT IT!

[420seriouscat69]

@ok: Then I'd suggest you stop calling other ppl poors who's parents didn't help them out with school. You probably can't bring any thoughtful insight to the table on the subject. No offense and stuff.

[BIG APPLE CAT]

Wackycat's rich gf might loan you some cash

I'd suggest you do it, but most Oklahomans are poors too.

Valid point.  Helps put things in perspective.  This is a pretty unsavory situation but compared to just one day in the life of OK Cat...I really am so blessed.  Thanks for the perspective, Wacky!

[Mr Bread]

Hubs life depresses the crap out of me.  I can't wrap my mind around getting married and not knowing the extent of this beforehand and then being willfully ignorant of it until it reached this level.  There is zero chance this isn't ultimately a divorce.  The best part is that it will be after Hubs has helped her pay all this crap off and then he will be resentful as eff.  It's your fault Hubs, not hers.

She'll probably divorce him the day he sends in the last loan payment.

Sounds like she's a bit of a fuckup.  Very unlikely that this is the only way that she is.  So that means Hubs is also a fuckup or she's somewhat of a reach for him and this is the tradeoff.  Either way it isn't destined to end well.  She isn't gold digging.  They'll split irrespective of how this ends up, but it'll be just another reason for it to be acrimonious and spiteful.  Just an awful way to start a marriage.  I mean what kind of a relationship do you have that this is unknown between the two?  Yikes.  Also who the hell signs up for it?  It's so rough ridin' dipshitty it almost makes me angry and I don't even know them.

  Bread the least you could have done was bring a body bag!

So I'd like to field this one first:  So yes, I can admit that when it comes to making the "fiscally responsible" vs "emotional dumbass" that I clearly went the way of dumbass.  Did I know the whole time that she was in dire financial straights?  Of course I did.  What I didn't know was to just what extent.  And perhaps I'm bargaining with myself on this one, but maybe it's the admiration I have for her that I've seen her working really hard to aggressively reduce her debt, or maybe its how she's completely amazing in virtually every other aspect of being a human person, but I think I still would have married her either way.  Only thing that might have done differently is we might have waited a little longer to have the wedding since we had to divert a lot of money to paying for the wedding that, obviously, would have been better spent getting her debt under control.

I honestly hope it works out Hubs.  It might seem like I am anti-you or at best indifferent, but it would actually make me genuinely happy to learn that you guys had a great life. 

[BIG APPLE CAT]

Hub,

any kids?

negative.  And no plans/desire to have any in the forseeable future.  Financially would be a terrible idea, so I guess we're lucky that neither of us are let down at the idea of remaining without child.

[Rage Against the McKee]

good luck hub

Sounds like I'm going to need it!
Okay so next topic i'd like to respond to: housing.  Not sure if there are a lot of viable options here.  I bought the house about 2 years ago, traditional 5% down 30 year note (will have it paid sooner than that since the last couple of years i've used my tax refund to make an extra payment towards principle).  Anyway, even though the market has improved a little since we moved in, i doubt very much the difference would even cover the closing costs.  I think the ultimate result is that i'd end up taking a big loss on the house, would absolutely doom myself to apartment/rental living for at least the next 10 years, and after working in all the factors (longer commute to work, having to move into a really shitty part of town to have a significant reduction in monthly payment going towards housing, loss of tax break on property tax) we might end up netting MAYBE $150/month and that doesn't seem like much of a return on such a reduced quality of life?

Well, you just aren't going to earn the kind of money that you need to pay off this kind of debt in the short term, so selling assets is going to have to be a reality. $150 per month is hardly insignificant. Do you currently have cable? What is your monthly phone bill?

[Emo EMAW]

Sell plasma.  Get a few fake ID's so you can sell more than you're allowed to.

[420seriouscat69]

Also, hub, I graduated from the journalism department as well. Once I got everything situated and got a better job outside my field, I started supplementing my income with things I liked to do. What did she specialize in at school that she could do on the side? J rake was right when it comes to this. I still pick up broadcasting gigs and help run a sport and social league here in KC. It's fun and usually makes up my monthly payments for student loans, so I can save the rest after bills. Something to think about.

[meow meow]

what's a social league?