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Fix my fathers 18 creditcard mess

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Anonymous
Not applicable

Re: Fix my fathers 18 creditcard mess

EDITED

 

We are getting off topic.

Message 21 of 25
Anonymous
Not applicable

Re: Fix my fathers 18 creditcard mess


@northface28 wrote:

@Anonymous wrote:

@northface28 wrote:

@Anonymous wrote:

I don't know about the OP's father, where they or their lifestyle but I think some of you have unrealistic notions about what $250K gets you depending on where you live.  It's a nice income and more than I make but to think that because you make $250K you can easily come up with $40K or have no debt is absurd.  It doesn't make you super rich.


I dont see it that way. The OP father was clearly living over his head and when the income dried up his lifestyle appears to not have followed suit. I dont think anyone is implying that if you make a quarter of a million dollars (per year) that you should not have debt. But $40k in UNSECURED debt? Doesnt add up to me. If he saved $1k, just $1k a month, for 3.5 years, hed have $40k. Thats 5% of his income a year.


I never said that this particular person wasn't living beyond his means.  I have no clue whether he was not.  I was replying to some of the general statements about that level of income like $40K apparently is easy to come up with from that income.  As for the saving part, that's true but the vast majority of Americans regardless of income don't save much, if any, of their income.


Maybe I was quick on the draw, its just frustrating to see/read that the average American saves so little. Even with my paltry $48k salary I save 15% of every check. "Pay your self first" is my motto.


Hey I give you a lot of credit.  You are making very wise choices.  It is sad more people don't save but we tend to live in a 'I have to have it now' world and tbh credit cards greatly contribute to the problem if used poorly.  Too many people have no money to save after struggling to pay their never ending credit card bills.  Just look at a credit card statement where they are now required to show you how long it will take to pay off your balance if only making minimum payments.  Some scary stuff.

Message 22 of 25
zerbherb
Established Contributor

Re: Fix my fathers 18 creditcard mess

The list i found is from 2013, so its not really up to date so all i gave you guys are the cards and there credit limit.

 

Amex Costco-

1. 29 grand 

 

Bank of america x2

1. 7500

2. 1200

 

Cap one x4

1.  20 grand

2. 5 grand

3. 12 grand

4. 20 grand

 

Chase x3

1. 500 

2. Chase united x2 30500/2700

3. Saphire 7900

 

Cowboys/nfl card- 7000

 

discover x2

1. 25000

2. 500 

 

Wells fargo

13,000

 

 

 

;
Discover it 13300 cl nov 2014/ Everyday 26700 k march 2015/CSP 7.5k Feb 2016/ Freedom Unlimited 7k july 207
Message 23 of 25
northface28
Established Contributor

Re: Fix my fathers 18 creditcard mess

APR on those cards and balances on each respective card?

BK Discharged 9/11

Cap1 Quiksilver Visa Signature $41k| Discover IT $24k| Barclays Uber VISA $16.2k|BOA Cash Rewards $8.4k| BOA BBR $6k|AMEX Cash Magnet $12.8k|AMEX BCP $16.6k|Huntington Voice $5.5k|Citi Double Cash $5.7k| US Bank Cash+ $6.5k
Message 24 of 25
zerbherb
Established Contributor

Re: Fix my fathers 18 creditcard mess

I will try and get the updated version later tonight

;
Discover it 13300 cl nov 2014/ Everyday 26700 k march 2015/CSP 7.5k Feb 2016/ Freedom Unlimited 7k july 207
Message 25 of 25
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