If you take on new debt (like an auto loan) to pay off credit card, avoid fees

Feb 9, 2016
10:51:50am

Wagon All-American

Work with credit unions, not banks. Reduce your fees, reduce your interest, focus on paying down principle owed in whatever creative way you can think of, but avoid paying institutions any more money.

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Wagon

Previous username: Jack H Wagon
Bio page: Wagon
Joined: Dec 13, 2010
Last login: Nov 30, 2023
Total posts: 4,444 (41 FO)

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Messages

Author

Time

Best way to consolidate debt and get our yewt in order?

jamaicanick

2/9/16 10:27am

Make more spend less. Track ever penny spent. You'll be amazed how

byubyu

2/9/16 10:29am

In addition to this I set up a spread sheet with all my debts and their interest

Ycrazy

2/9/16 10:32am

This is a great site to structure that

Hoosier Cougar

2/9/16 10:39am

Best way is to re-finance your home or use a home equity loan.

WJCougar

2/9/16 10:31am

Read Mister Money Mustache

goldy

2/9/16 10:31am

RE: Best way to consolidate debt and get out yewt in order?

Diablo and Doc

2/9/16 10:33am

As much as people knock it, you should check out Dave Ramsey

KingDave

2/9/16 10:34am

if it's a crippling amount of unsecured debt...bankruptcy might not be a bad

nashty

2/9/16 10:35am

<< Deleted >>

BYUMizzou

2/9/16 10:39am

yes...please seek out someone who is good enough at bankruptcy to exclusively

nashty

2/9/16 10:43am

Sorry to rain on this parade. Debt assumed in a divorce isn't dischargeable in

LaserCoug

2/9/16 11:35am

RE: Sorry to rain on this parade. Debt assumed in a divorce isn't dischargeable

jamaicanick

2/9/16 11:44am

Gotcha. All my debt was assumed in the divorce and unfortunately I have a lot

LaserCoug

2/9/16 11:47am

marital debts created in MSA's are dischargable in Ch13 BK's

nashty

2/9/16 12:46pm

Consolidate high interest (credit card) debt into a lower interest loan

HuskerFan2

2/9/16 10:35am

You're in a tough spot unless you can cut something big out

mudpupper

2/9/16 10:38am

and sometimes the only way to "cut something major out of your life" is to

nashty

2/9/16 10:40am

Pay off smaller, high-interest debts first. Work your way up from there.

Virginia Ute

2/9/16 10:38am

^^^This^^^ Go after your high interest debt first. Then, pay off your car(s)...

BearsandBulls

2/9/16 11:07am

Out of curiosity, Did you discuss finances before you were married?

Mister P

2/9/16 10:39am

RE: Out of curiosity, Did you discuss finances before you were married?

jamaicanick

2/9/16 10:44am

Switch to cash on everything.

Vegas Katbacker

2/9/16 10:40am

If you take on new debt (like an auto loan) to pay off credit card, avoid fees

Wagon

2/9/16 10:51am

One thing that was suggested to me, that I hadn't considered

Cougar Geek

2/9/16 10:55am

Depends on your credit score

donnerstag

2/9/16 10:56am

FPU

Texan

2/9/16 11:02am

Prosper.com or Lending Club could give you lower rates. Lower the rates, pay off

scott715

2/9/16 11:14am

Chase Slate card has a 0% rate on transfered balances for a period of time.

scott715

2/9/16 11:15am

I also took on 50k worth of CC debt in the divorce. In the last 2 years I have

LaserCoug

2/9/16 11:33am

How the hades did you end up with 50k in CC debt?

BearsandBulls

2/9/16 11:36am

All of the ex-wife's tuition for college was on CCs which she was supposed to

LaserCoug

2/9/16 11:40am

How the ruddy heck did you get stuck with all of her college debt?

BearsandBulls

2/9/16 12:11pm

Live comfortably...until you are extradited

Hoosier Cougar

2/9/16 12:24pm

They can try.

BearsandBulls

2/9/16 12:28pm

It was before the divorce was actually filed.

LaserCoug

2/9/16 12:28pm

Holy crap, man. Stories like yours make me want to start stashing secret cash.

BearsandBulls

2/9/16 12:32pm

If you want to make a divorce get really expensive, try hiding cash or

LaserCoug

2/9/16 12:42pm

It only gets expensive if they find it.

BearsandBulls

2/9/16 12:57pm

Or if she suspects

LaserCoug

2/9/16 12:57pm

Even if she suspected...it wouldn't be in an account.

BearsandBulls

2/9/16 1:11pm

It's not the taking of funds that is expensive, it's paying to fight over it

LaserCoug

2/9/16 1:15pm

It's true she will only benefit from her education going forward, but

Hoosier Cougar

2/9/16 12:42pm

It actually has a few benefits for me. The fact that she is done with her

LaserCoug

2/9/16 12:53pm

Those are a lot of assumptions that may or may not apply to LaserCoug.

BearsandBulls

2/9/16 1:10pm

You need a budget.

El Jefe

2/9/16 11:53am

Consumer loan from a local credit union to consolidate your debt in a low intere

BYU Grounds

2/9/16 3:24pm

I have always found them tempting. If you could get the teaser rate they

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