ventouxbob_IHB
New member
A few months ago I asked advice regarding paying off a car loan early or saving more. The input was mixed but appreciated.
At the time I had 16K to payoff a car. and only 5K in savings.
As fate may have it. My Boss came down with Oral cancer that spread also to a lymph node. This gave me a bad premonition and I decided to save more rather than pay extra on my car.
On Oct 31st I got laid off. A no fault lay off and I will not move to Orange county (Laguna Nigel) as planned.
Well I?m quite glad I saved more. My wife and me we took advice from people here. I have 13K in the bank.
We have no credit card balances and even though im laid off my wife makes money too and we are feeling pretty good about where we stand right now. Considering in Jan 2007 we had 9 K in credit card bills.
Not all is well in my family though. Thanks giving week-end. I met with my sister who is married and they have a 2-year-old daughter. She said she is in big trouble bills like crazy and a husband that is underemployed and over spending.
- my father and I gave her 2500 to pay off here car.
-we ran a full credit check on fair issack for both her and her husband. It could NOT BE any worse.
They Owe. $95,000 on credit cards. $42,000 Home equity loan (that was spent) and have a Mortgage with 162,000 principal and an ARM that resets soon.
UN EFFing Believable. my sister has always been hard working, frugal, responsible. much of this is her husbands spending.
The thing is they only make 65-75K a year combined. She cannot stop her husband from spending. he has many CC he lied about.
It looks like my sister will file bankrupts. Try to keep her house. not sure about getting 135K in debt dismissed.
well I cried a few times I cannot believe My BIG sister got in to such a mess in only 4 years of marriage.
They do not have joint checking or many shared credit cards. no communication or accountability.
also she did not know her husbands debts pre marriage.
Needless to Say I want to put her husband 6 feet under.
I guess my moral DEBT is not wealth. don?t abuse credit.
do a credit check for both parties before marriage and talk about and work On finances and make purchase decisions as a couple.
I have been married only 11 months first marriage. and we are on the same Page.
so very sad my sister was not. we will see if she ends up divorced also.
BOB.
At the time I had 16K to payoff a car. and only 5K in savings.
As fate may have it. My Boss came down with Oral cancer that spread also to a lymph node. This gave me a bad premonition and I decided to save more rather than pay extra on my car.
On Oct 31st I got laid off. A no fault lay off and I will not move to Orange county (Laguna Nigel) as planned.
Well I?m quite glad I saved more. My wife and me we took advice from people here. I have 13K in the bank.
We have no credit card balances and even though im laid off my wife makes money too and we are feeling pretty good about where we stand right now. Considering in Jan 2007 we had 9 K in credit card bills.
Not all is well in my family though. Thanks giving week-end. I met with my sister who is married and they have a 2-year-old daughter. She said she is in big trouble bills like crazy and a husband that is underemployed and over spending.
- my father and I gave her 2500 to pay off here car.
-we ran a full credit check on fair issack for both her and her husband. It could NOT BE any worse.
They Owe. $95,000 on credit cards. $42,000 Home equity loan (that was spent) and have a Mortgage with 162,000 principal and an ARM that resets soon.
UN EFFing Believable. my sister has always been hard working, frugal, responsible. much of this is her husbands spending.
The thing is they only make 65-75K a year combined. She cannot stop her husband from spending. he has many CC he lied about.
It looks like my sister will file bankrupts. Try to keep her house. not sure about getting 135K in debt dismissed.
well I cried a few times I cannot believe My BIG sister got in to such a mess in only 4 years of marriage.
They do not have joint checking or many shared credit cards. no communication or accountability.
also she did not know her husbands debts pre marriage.
Needless to Say I want to put her husband 6 feet under.
I guess my moral DEBT is not wealth. don?t abuse credit.
do a credit check for both parties before marriage and talk about and work On finances and make purchase decisions as a couple.
I have been married only 11 months first marriage. and we are on the same Page.
so very sad my sister was not. we will see if she ends up divorced also.
BOB.
