Debt Free?

Superb said:
 
Dathbgboy said:
I'm trying to get out of debt, so I should add another expense to get out of debt? Nah, I'm good off that brosef
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Your not making sense

$50 they will remove and correct negative information off your credit report. I got a judgement removed off mine and my score jumped 120 points. That alone was worth gold
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They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
 
OP what are you doing for investments?

That's the area I need to step my game up in. My wife and I are debt free besides our mortgage. I have about 50k in savings, my wife has maybe 10k, yes we have separate accounts. We aren't doing crap for investing other than our 401ks. I kind of want to get a financial advisor but my wife isnt on board with their fees. I'm still thinking about doing it cuz I hate that my money is just sitting on my savings account.
 
crcballer55 said:
Superb said:
 
Dathbgboy said:
I'm trying to get out of debt, so I should add another expense to get out of debt? Nah, I'm good off that brosef :lol:
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Your not making sense

$50 they will remove and correct negative information off your credit report. I got a judgement removed off mine and my score jumped 120 points. That alone was worth gold
Click to expand...

They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
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That's the same thing I was thinkin, I've done it before. Not to mention Fico and other credit score sites have the option to contest fraudulent items on your report
 
Super T1ght said:
OP what are you doing for investments?

That's the area I need to step my game up in. My wife and I are debt free besides our mortgage. I have about 50k in savings, my wife has maybe 10k, yes we have separate accounts. We aren't doing crap for investing other than our 401ks. I kind of want to get a financial advisor but my wife isnt on board with their fees. I'm still thinking about doing it cuz I hate that my money is just sitting on my savings account.
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The fees are fairly low when you take into account the long term gains of a vehicle you're investing in long term. Not to mention you're only getting .xx% on your money now when you could have doubled your money over the last 4 years.
 
crcballer55 said:
The fees are fairly low when you take into account the long term gains of a vehicle you're investing in long term. Not to mention you're only getting .xx% on your money now when you could have doubled your money over the last 4 years.
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I'm with you buddy. The FA we met with wants to do a full analysis to put together a plan and that fee is about 1k. I think it's time.
What are you doing for investments?
 
Super T1ght said:
 
crcballer55 said:
The fees are fairly low when you take into account the long term gains of a vehicle you're investing in long term. Not to mention you're only getting .xx% on your money now when you could have doubled your money over the last 4 years.
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I'm with you buddy. The FA we met with wants to do a full analysis to put together a plan and that fee is about 1k. I think it's time.
What are you doing for investments?
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I'm mostly doing it myself, but may switch to a FA soon. Just opened a college savings account recently, and they offer the fund I've been looking at for the last couple months. There's not upfront fee other than the built in management fee of the funds offered which is 5.75% for the type A funds. I'm not too anxious to move everything over though since I'm up 2% over the Dow for the previous year, so I think my mix of funds has been doing pretty good for the past couple years.

I interviewed with a firm several years ago and they were charging $1500 for the financial plans. Considering the commissions they charge people to manage their money, it seems like a pretty steep initial fee to charge people since you're going to be making tens of thousands off managing their assets over their lifetime. I'd recommend taking the Financial Peace course and that should give you a pretty good understanding of what course to take from a financial standpoint and will give you a more comprehensive gameplan than what most investment advisers will give you.
 
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crcballer55 said:
 
They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
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This. You can do it all online too. Just start a dispute and in a few months or sooner they'll remove it and you're good.

I dont agree with OP about not using credit. Never use your own cash. Interest rates for car and mortgages are not that high for good credit folks.

On certified cars, I get 0.9-1.9% apr which is nothing. That 50% down on the next house is better served invested...with your history, you can get a 3-4% loan on a house which in hindsight is nothing.
 
Good for you Op. Thanks for sharing the links. I will be reading this thread and what you shared.
 
Dathbgboy said:
Didn't know about a take home course. That's right up my alley, since me and wife's schedules are all out of whack w/ one another. I'll be makin a little more w/ my new job so I should be able to afford that. Small price to pay to build wealth that I can pass on to my daughter when the time comes.
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Rich Dad Poor Dad book. he got the games for the kids too

http://store.richdad.com/
 
crcballer55 said:
 
They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
Click to expand...
Somewhat but you got to know about double punch and what to say.  Your just going off luck,m Im going off facts when i dispute to get it removed. Whole other ball game player
 
SoundnFury said:
the debt i took for school is outlandish and uncalled for.

biggest mistake i ever made.
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im 70k in school loan debt . Im sure they will never see a dime of that. putting the house and car in wifey name
 
CC's paid off, Student loans paid off. Just trynna finish off this car note before I take on a mortgage...
 
Just started paying off my student loans.. Not fun at all.
The plan is to pay it off in 3 years by basically tripling up my monthly payments.
I feel bad for people who took on tons of student loan debt but their jobs don't pay well enough to get out of it. It's like they're never going to make much of a dent on principle with minimum payments jusy going towards the interest.
 
Superb said:
 
How much do interest do people pay on 150k-250k houses now?
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interest is based on your credit score not the price of your home.

I'm tier 1, 780 score, 3.75% 30 year...I have a duplex that has a 137k balance so the payment is $6xx. plus escrow for taxes and insurance which is another $500.

I have a house I rent to students that pays for itself and the duplex and that has a 250k balance at 4.25% (had big balance on my credit card when they pulled my application).

I knock on wood everyday that I keep tenants for the next 10 years so I can pay both homes off without coming out of pocket.
 
RonsWeedRoom said:
 
crcballer55 said:
 
They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
Click to expand...
This. You can do it all online too. Just start a dispute and in a few months or sooner they'll remove it and you're good.

I dont agree with OP about not using credit. Never use your own cash. Interest rates for car and mortgages are not that high for good credit folks.

On certified cars, I get 0.9-1.9% apr which is nothing. That 50% down on the next house is better served invested...with your history, you can get a 3-4% loan on a house which in hindsight is nothing.
Click to expand...
When you finance items though, your purchasing habits completely change because you don't feel the full pain of the purchase. That's why a simple mathematical analysis can't be done when buying a car with cash vs. 0.9% financing. Most people wouldn't choose the same car if buying with cash.
 
Superb said:
 
crcballer55 said:
 
They don't do anything that you can't do yourself. If there's an inaccurate record, just send them a letter informing them that you want it investigated according to the fair debt collections act, otherwise it needs to be removed within 30 days.
Click to expand...
Somewhat but you got to know about double punch and what to say.  Your just going off luck,m Im going off facts when i dispute to get it removed. Whole other ball game player
Click to expand...
No luck involved. You just need to have knowledge of your rights. As long as you're not trying to fraudulently remove records, everything should be ok within 30 days if it's inaccurate.
 
mortgage and car payment only.

unfortunately, i bought my house right at the top... fall of 2007. needless to say, the value plummeted over the next couple of years. i refinanced last year thanks to HARP and am finally at a point where i'm no longer underwater. the refinance knocked about $300/mo. off my payments... unfortunately it went back to a 30 year loan. so i've got about $167K left.

bought a new (used) car last year. have about $7K left on it. will probably apply my tax refund and some extra savings towards paying it off next year.
 
ahhh that dave ramsay program. I read the same book. I payed off all my credit card debt and don't use credit cards anymore (STRAIGHT CASH HOMEY). I still have $3,000.00 in student loans to pay off which was $8,0000.00 when I graduated from college. Currently renting an apartment with the gf, saving up for house in about 5 years.
 
Good thread. I only recently started planning my expenses and couldn't believe how much I was spending before especially on useless things. First thing I switched was use of credit cards. I was drawn in by the cash back and while I've built up some points I did spend a ton of money at the same time. Now that I'm just taking out cash, I "feel" it more and tend to spend less on things I don't really need.

Also finally down to
 
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