Total Posts:41|Showing Posts:1-30|Last Page
Jump to topic:

Career Advice - What would you do?

Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 12:51:12 PM
Posted: 2 years ago
My financial situation:
Me and my wife work. We barely, if even, make ends meet. I really should get a second job.

If we default, we could lose our house, her car (which she needs for work), it could be awful.

However, there is a temp opportunity (temp to hire) that I am being considered for, that is a 50% increase in pay, plus it's not a call center, but accounting (which I have an AAS in).

However, if I am fired, or I am let go, I will most likely not be eligible for rehire at the call center, making $12/hr, which isn't even enough to make ends meet, or barely is.

Big reward, HUGE risk.
Would you take the job?
My work here is, finally, done.
lannan13
Posts: 23,062
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 12:56:34 PM
Posted: 2 years ago
At 8/12/2014 12:51:12 PM, Khaos_Mage wrote:
My financial situation:
Me and my wife work. We barely, if even, make ends meet. I really should get a second job.

If we default, we could lose our house, her car (which she needs for work), it could be awful.

However, there is a temp opportunity (temp to hire) that I am being considered for, that is a 50% increase in pay, plus it's not a call center, but accounting (which I have an AAS in).

However, if I am fired, or I am let go, I will most likely not be eligible for rehire at the call center, making $12/hr, which isn't even enough to make ends meet, or barely is.

Big reward, HUGE risk.
Would you take the job?

That's risky, but you should take the risk. You're currently being screwed and you have a 50-50 chance of being screwed latter. So overall you have a 75% chance of being screwed so you have no viable option but to chance it.

You could always do military. Their pay is decent and your family gets a protion of the GI bill which will provide a pention for your housing.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:02:28 PM
Posted: 2 years ago
At 8/12/2014 12:56:34 PM, lannan13 wrote:
At 8/12/2014 12:51:12 PM, Khaos_Mage wrote:
My financial situation:
Me and my wife work. We barely, if even, make ends meet. I really should get a second job.

If we default, we could lose our house, her car (which she needs for work), it could be awful.

However, there is a temp opportunity (temp to hire) that I am being considered for, that is a 50% increase in pay, plus it's not a call center, but accounting (which I have an AAS in).

However, if I am fired, or I am let go, I will most likely not be eligible for rehire at the call center, making $12/hr, which isn't even enough to make ends meet, or barely is.

Big reward, HUGE risk.
Would you take the job?

That's risky, but you should take the risk. You're currently being screwed and you have a 50-50 chance of being screwed latter. So overall you have a 75% chance of being screwed so you have no viable option but to chance it.

You could always do military. Their pay is decent and your family gets a protion of the GI bill which will provide a pention for your housing.

I'm 31, and the army reluctantly would have taken me in 2003.
The issue is, I have a wife who depends on me (even though she is the bread winner), and if we falter, we're looking at bankruptcy - loss of mortgage, loss of car.
My work here is, finally, done.
lannan13
Posts: 23,062
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:05:32 PM
Posted: 2 years ago
At 8/12/2014 1:02:28 PM, Khaos_Mage wrote:
At 8/12/2014 12:56:34 PM, lannan13 wrote:
At 8/12/2014 12:51:12 PM, Khaos_Mage wrote:
My financial situation:
Me and my wife work. We barely, if even, make ends meet. I really should get a second job.

If we default, we could lose our house, her car (which she needs for work), it could be awful.

However, there is a temp opportunity (temp to hire) that I am being considered for, that is a 50% increase in pay, plus it's not a call center, but accounting (which I have an AAS in).

However, if I am fired, or I am let go, I will most likely not be eligible for rehire at the call center, making $12/hr, which isn't even enough to make ends meet, or barely is.

Big reward, HUGE risk.
Would you take the job?

That's risky, but you should take the risk. You're currently being screwed and you have a 50-50 chance of being screwed latter. So overall you have a 75% chance of being screwed so you have no viable option but to chance it.

You could always do military. Their pay is decent and your family gets a protion of the GI bill which will provide a pention for your housing.

I'm 31, and the army reluctantly would have taken me in 2003.
The issue is, I have a wife who depends on me (even though she is the bread winner), and if we falter, we're looking at bankruptcy - loss of mortgage, loss of car.

However your current situation is that you're screwed if you do nothing. You need to take a chance. You could always get a CDL and drive a truck for Lays or some company. This way you can learn a skill and still have your job. Either way I still believe that you have no choice, but to chance it.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:11:17 PM
Posted: 2 years ago
At 8/12/2014 1:05:32 PM, lannan13 wrote:

However your current situation is that you're screwed if you do nothing. You need to take a chance. You could always get a CDL and drive a truck for Lays or some company. This way you can learn a skill and still have your job. Either way I still believe that you have no choice, but to chance it.

True, but the safest option is to just get a part time job after work delivering pizza or in retail. That extra $200 (10 hrs/wk) is all we need to be "okay".
My work here is, finally, done.
lannan13
Posts: 23,062
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:15:10 PM
Posted: 2 years ago
At 8/12/2014 1:11:17 PM, Khaos_Mage wrote:
At 8/12/2014 1:05:32 PM, lannan13 wrote:

However your current situation is that you're screwed if you do nothing. You need to take a chance. You could always get a CDL and drive a truck for Lays or some company. This way you can learn a skill and still have your job. Either way I still believe that you have no choice, but to chance it.

True, but the safest option is to just get a part time job after work delivering pizza or in retail. That extra $200 (10 hrs/wk) is all we need to be "okay".

True. Is there any place that accepts 10hrs a week though. I thought the minimum is 16 hrs a week or such.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:16:46 PM
Posted: 2 years ago
At 8/12/2014 1:15:10 PM, lannan13 wrote:
At 8/12/2014 1:11:17 PM, Khaos_Mage wrote:
At 8/12/2014 1:05:32 PM, lannan13 wrote:

However your current situation is that you're screwed if you do nothing. You need to take a chance. You could always get a CDL and drive a truck for Lays or some company. This way you can learn a skill and still have your job. Either way I still believe that you have no choice, but to chance it.

True, but the safest option is to just get a part time job after work delivering pizza or in retail. That extra $200 (10 hrs/wk) is all we need to be "okay".

True. Is there any place that accepts 10hrs a week though. I thought the minimum is 16 hrs a week or such.

Restaurants always need help, and just for the busy times.
Plus, I can work weekends.
My work here is, finally, done.
lannan13
Posts: 23,062
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:27:19 PM
Posted: 2 years ago
At 8/12/2014 1:16:46 PM, Khaos_Mage wrote:
At 8/12/2014 1:15:10 PM, lannan13 wrote:
At 8/12/2014 1:11:17 PM, Khaos_Mage wrote:
At 8/12/2014 1:05:32 PM, lannan13 wrote:

However your current situation is that you're screwed if you do nothing. You need to take a chance. You could always get a CDL and drive a truck for Lays or some company. This way you can learn a skill and still have your job. Either way I still believe that you have no choice, but to chance it.

True, but the safest option is to just get a part time job after work delivering pizza or in retail. That extra $200 (10 hrs/wk) is all we need to be "okay".

True. Is there any place that accepts 10hrs a week though. I thought the minimum is 16 hrs a week or such.

Restaurants always need help, and just for the busy times.
Plus, I can work weekends.

Do not work fast food. What ever you do do not work fast food.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:41:58 PM
Posted: 2 years ago
At 8/12/2014 1:27:19 PM, lannan13 wrote:

Do not work fast food. What ever you do do not work fast food.

LOL
I've worked 40+ different jobs, in various industries.
Fast food sucked, but it's kind of fun (I liked the fast pace).

Info is coming in, so I'll keep you posted.
But it looks like it's only a temp job. (2-4 months, zero promises, replacing military leave)
Maybe I can take a leave to take it.
My work here is, finally, done.
lannan13
Posts: 23,062
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 1:45:57 PM
Posted: 2 years ago
At 8/12/2014 1:41:58 PM, Khaos_Mage wrote:
At 8/12/2014 1:27:19 PM, lannan13 wrote:

Do not work fast food. What ever you do do not work fast food.

LOL
I've worked 40+ different jobs, in various industries.
Fast food sucked, but it's kind of fun (I liked the fast pace).

Info is coming in, so I'll keep you posted.
But it looks like it's only a temp job. (2-4 months, zero promises, replacing military leave)
Maybe I can take a leave to take it.

I've worked several restraunts at Worlds of Fun (Kansas City theme park) and they all sucked. Some where fun though. For example when I worked at Caribou Coffee it was pretty fun.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~
bladerunner060
Posts: 7,126
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 4:25:47 PM
Posted: 2 years ago
If you're replacing someone on military leave, then the odds of them keeping you are very low, because they're obliged to take that person back. If it's an increase in pay, I'd say you should take it IFF (if and only if) you think you can plausibly use it to spring into something else, or if you think that maybe they're an expanding business, that might want to keep you to help with expansion.

Otherwise, you're looking at, what, hoping you get a LOA from the call center, and then going right back into it and needing a second job, as your best case scenario? And that assumes they honor the leave which, if you're at will, they don't really have to--making it a big risk.

Like I said, if that 4 months of breathing space is going to be a spring into some kind of long term solution, great, otherwise I'd think the unpleasant scenario is the "best" option.
Assistant moderator to airmax1227. PM me with any questions or concerns!
Shadow-Dragon
Posts: 55
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 4:29:53 PM
Posted: 2 years ago
Take the risk. The temporary increase of pay would be enough to cover expenses if you were to get fired. If you are not fired, then continue with the job...
Maikuru
Posts: 9,112
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 4:40:04 PM
Posted: 2 years ago
Given the information you've provided, it is not financially prudent to leave your job. Assuming you are not taken back at your current job, the added pay from the temp position would buy you roughly 4.5 months to find another job. That is far faster than average and not at all a secure enough window to risk your current situation.

As a side note, I was amused at lannan denouncing fast food work but advocating the military. Burgers over bullets any day.
"You assume I wouldn't want to burn this whole place to the ground."
- lamerde

https://i.imgflip.com...
Buddamoose
Posts: 19,448
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 4:56:31 PM
Posted: 2 years ago
At 8/12/2014 4:40:04 PM, Maikuru wrote:
Given the information you've provided, it is not financially prudent to leave your job. Assuming you are not taken back at your current job, the added pay from the temp position would buy you roughly 4.5 months to find another job. That is far faster than average and not at all a secure enough window to risk your current situation.

As a side note, I was amused at lannan denouncing fast food work but advocating the military. Burgers over bullets any day.

not all military occupations require you to ever come near any "bullets." Even the military needs their cooks, bakers, and candlestick makers.

Sure, in the marines or in the army, you have a higher chance than other branches of ever encountering such a scenario. But say a service such as the navy, wherein your probably gonna be on a boat sure, but except for the Seals and Aviation, ur not really doing anything combative.

Or the Air Force, which is majoritively non-combative, or even the Coast Guard, which is purely non-combative. Funny thing, active duty military has a lower chance of actually being deployed then does ur national guard and reserves, right now. Why? Because logistically speaking, you don't want to use your actually fully trained, and constantly training soldiers in a war that is very much winding down. You want to save them for any upcoming potential confrontations(hopefully none *crosses fingers* lol)
"Reality is an illusion created due to a lack of alcohol"
-Airmax1227

"You were the moon all this time, and he was always there to make you shine."

"Was he the sun?"

"No honey, he was the darkness"

-Kazekirion
Buddamoose
Posts: 19,448
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 5:02:14 PM
Posted: 2 years ago
Take a part-time job on the side Khaos. If thats what it would take to be ok, then that is a far safer option, then taking a non-guaranteed temp position, that ur likely going to lose in a few months. And likely be left with no option afterwards either. Keep what you have, pick up a small job on the side, and get to an "ok" status.

As more time progresses, you'll get better and better as pay increases take place in either job.
"Reality is an illusion created due to a lack of alcohol"
-Airmax1227

"You were the moon all this time, and he was always there to make you shine."

"Was he the sun?"

"No honey, he was the darkness"

-Kazekirion
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:41:35 PM
Posted: 2 years ago
At 8/12/2014 4:13:44 PM, Cermank wrote:
At 8/12/2014 12:51:12 PM, Khaos_Mage wrote:
What is the probability of you being let go?

Let go from my current job. Pretty low.
I'm a good employee.....I think.

The issue is if I have to wait until March to come back, or if I can come back during the "slow season".
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:45:27 PM
Posted: 2 years ago
At 8/12/2014 4:25:47 PM, bladerunner060 wrote:
If you're replacing someone on military leave, then the odds of them keeping you are very low, because they're obliged to take that person back. If it's an increase in pay, I'd say you should take it IFF (if and only if) you think you can plausibly use it to spring into something else, or if you think that maybe they're an expanding business, that might want to keep you to help with expansion.

It's the corporate headquarters of a $3 billion company.
I doubt they're expanding per se, but who knows what will happen.

And, if nothing else, it gives me accounting experience, which is something I don't have (which is why my $35K piece of paper is unused). It should open doors and confidence, assuming I don't make a fool out of myself.

Otherwise, you're looking at, what, hoping you get a LOA from the call center, and then going right back into it and needing a second job, as your best case scenario? And that assumes they honor the leave which, if you're at will, they don't really have to--making it a big risk.

Or, I can get something better, or use temp agencies.
I have almost 1.5 years of "office" experience, which, IMO, looks way better on a resume than 8 years of delivering pizza.

Like I said, if that 4 months of breathing space is going to be a spring into some kind of long term solution, great, otherwise I'd think the unpleasant scenario is the "best" option.

I'm moving forward with it.
We'll see if I pass the two major hurdles....background check and interview.
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:49:03 PM
Posted: 2 years ago
At 8/12/2014 4:40:04 PM, Maikuru wrote:
Given the information you've provided, it is not financially prudent to leave your job. Assuming you are not taken back at your current job, the added pay from the temp position would buy you roughly 4.5 months to find another job. That is far faster than average and not at all a secure enough window to risk your current situation.

It would provide 2 months, actually, if it's a four month stint.
However, I'm thinking of taking it.
New experience, new possibilities, new resume boost.
If the job lasts four months, that takes me to January, and I'd be looking at March for rehire (and hopefully a raise to boot, cuz I'm due one two months).


As a side note, I was amused at lannan denouncing fast food work but advocating the military. Burgers over bullets any day.

Fast food is brutal, though.
And it must be worse at an amusement park. Carnivals and similar things are the worst I'm told.
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:54:11 PM
Posted: 2 years ago
At 8/12/2014 5:02:14 PM, Buddamoose wrote:
Take a part-time job on the side Khaos. If thats what it would take to be ok, then that is a far safer option, then taking a non-guaranteed temp position, that ur likely going to lose in a few months. And likely be left with no option afterwards either. Keep what you have, pick up a small job on the side, and get to an "ok" status.

Actually, the more I think about, the more this makes sense.
There are rumors that pay might go up to $13.50, but there are plenty of jobs I can take that pay better than that, and that's the starting wage for accounting clerks anyway.
In fact, for a call center, that is actually pretty low, especially for a non-profit.

I can always take temp jobs if I lost my current job.

As more time progresses, you'll get better and better as pay increases take place in either job.

Trust me, I'm in deep, and it's been depressing how deep we're in. But, this job will give hope, since if I get it, it means I can pass a background check, I'll have experience in the field I went to school in (you know that Catch-22), and I'll have confidence in job interviews about accounting.
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:55:49 PM
Posted: 2 years ago
Thanks for the advice, folks, but the only down side I see to this as things are unfolding is my not having LOA, and then not finding work after the temp gig is up.

If that's the case, I'll get a job whereever, or two or three. I've done it before....
My work here is, finally, done.
Mikal
Posts: 11,270
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 6:56:57 PM
Posted: 2 years ago
I'm 31, and the army reluctantly would have taken me in 2003.
The issue is, I have a wife who depends on me (even though she is the bread winner), and if we falter, we're looking at bankruptcy - loss of mortgage, loss of car.

Their are different types of bankruptcy. A 7, 11, 12, and 13 are the basic ones. Most of the time if you file a bankruptcy the mortgage place will never foreclose on your house, they will give you the option to pay it back via the bankrupcty court. File a chapter 13 if you decide to do it

This is a wage earners bankruptcy. Generally if you file a 13 you are pointed a trustee to oversee the case and that garnishes and distributes your funds among the people that you owe debt

Bankruptcy is not always a bad thing, as some debt that you owe will not even pass. Anyone can file to collect on you that you owe debt to, but often the court cost is so high they wont bother with it. meaning things like small loans at best buy, credit cards, etc will often just chose to let it slide under because the court cost will be > than the amount of debt that you owe

Check with your bank and see if they are willing to work out a loan modification if you file. This is a temporary thing that some banks will allow you to have in order for you to get caught up on your house payments. It will often cut your house payment, in half for an extended period of time. Anywehre from 6 months to a year

The reason Im saying this is because if you file a 13 or decide to file bankruptcy, if you file while your account is in a loan mod, the rate of the loan mod they gave you is often held viable through the life of the bankruptcy

Hypothetically Meaning if your house note is 1000 dollars and your interest rate is 7. When you file the mod it cuts your payment to 1,000 and the interest rate along with it (could or could not change).

Most banks ( i know of at least 2), that apply this to an account will allow the mod to still be present for the life of a bankruptcy (7 years). They are actually required by their own protocol, mixed in with some federal regulations but it varies from bank to bank.

Basically if you are lucky enough when and if you decide to file. If you file a loan mod, the payment that is granted to you via the loan mod *could be* given to you and held for the life of the entire bankruptcy.

it is a great way to get yourself back on your feet, but no banks or mortgage places will ever tell you that because its a liability

Every time a house is forcelosed on they generally lose over half their money, they are always willing to work out payments before they foreclose 99 percent of the time even if it is through a trustee.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:03:54 PM
Posted: 2 years ago
At 8/12/2014 6:56:57 PM, Mikal wrote:

Truth be told, bankruptcy isn't even an option.
At best, it would eliminate our credit card debt, while high ($16K), isn't what is breaking us.
It's her car loan (I should have put my foot down and went with the cheaper car).

Those are the only bills that would actually go away.
Not the student loan she pays in her mother's name.
Not my federal loans.
Not my mortgage.
Not my utilities.
Not my personal loan in my mother's name.

So, filing bankruptcy, which may take our car away (we could just have it repossessed, too) and save us $300/month, is the only beneift, and probably not worth the cost.

Don't open a business on credit card debt because debt equity was "close" to enough.
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:05:54 PM
Posted: 2 years ago
My mom gave me a HUGE debt consolidation loan, and if I was smart, I would have filed bankruptcy BEFORE I took the money, so all that debt would have been eliminated.

That would have been the smartest move to make.
My work here is, finally, done.
Mikal
Posts: 11,270
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:06:57 PM
Posted: 2 years ago
At 8/12/2014 7:03:54 PM, Khaos_Mage wrote:
At 8/12/2014 6:56:57 PM, Mikal wrote:

Truth be told, bankruptcy isn't even an option.
At best, it would eliminate our credit card debt, while high ($16K), isn't what is breaking us.
It's her car loan (I should have put my foot down and went with the cheaper car).
If you are going to have it repossessed you still could buy another one. Just save up for a cheap one before you do it and before you file

Those are the only bills that would actually go away.
Not the student loan she pays in her mother's name.
She does not have to pay it if its in her mothers name?
Not my federal loans.
Define federal
Not my mortgage.
It would cut your mortgage and give you a lower payment and interest rate for seven years if your bank supports the policy that most banks follow
Not my utilities.
That one you cant really fix
Not my personal loan in my mother's name.
Now i'm starting to think you meant co signing? When you mean in their name, or does it mean you are paying it for them?

So, filing bankruptcy, which may take our car away (we could just have it repossessed, too) and save us $300/month, is the only beneift, and probably not worth the cost.

Don't open a business on credit card debt because debt equity was "close" to enough.
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:13:15 PM
Posted: 2 years ago
At 8/12/2014 7:06:57 PM, Mikal wrote:
At 8/12/2014 7:03:54 PM, Khaos_Mage wrote:
At 8/12/2014 6:56:57 PM, Mikal wrote:

Truth be told, bankruptcy isn't even an option.
At best, it would eliminate our credit card debt, while high ($16K), isn't what is breaking us.
It's her car loan (I should have put my foot down and went with the cheaper car).
If you are going to have it repossessed you still could buy another one. Just save up for a cheap one before you do it and before you file

Save? What's that? LOL
Yeah, I would.
Actually, we'd be fine if it wasn't for the car loan.

Those are the only bills that would actually go away.
Not the student loan she pays in her mother's name.
She does not have to pay it if its in her mothers name?
Not legally, no.
And, given the state of affairs of their relationship, believe me, I don't want to.
Not my federal loans.
Define federal
Federal student.
Not my mortgage.
It would cut your mortgage and give you a lower payment and interest rate for seven years if your bank supports the policy that most banks follow
True.
I may be able to streamline my FHA loan, though. But, it wasn't cost effective when I looked into it.
Not my utilities.
That one you cant really fix
Not my personal loan in my mother's name.
Now i'm starting to think you meant co signing? When you mean in their name, or does it mean you are paying it for them?
No, it's completely in her name, and she got the loan specifically for me. Saved me $700/month....until we had to buy a car.
So, legally, I am not obligated, and if I need to miss a few payments, I'm sure she'd pay them for me.
My work here is, finally, done.
Mikal
Posts: 11,270
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:17:47 PM
Posted: 2 years ago
At 8/12/2014 7:13:15 PM, Khaos_Mage wrote:
At 8/12/2014 7:06:57 PM, Mikal wrote:
At 8/12/2014 7:03:54 PM, Khaos_Mage wrote:
At 8/12/2014 6:56:57 PM, Mikal wrote:

Truth be told, bankruptcy isn't even an option.
At best, it would eliminate our credit card debt, while high ($16K), isn't what is breaking us.
It's her car loan (I should have put my foot down and went with the cheaper car).
If you are going to have it repossessed you still could buy another one. Just save up for a cheap one before you do it and before you file

Save? What's that? LOL
Yeah, I would.
Actually, we'd be fine if it wasn't for the car loan.

you can fine some 1thousand dollars cars that will last you years. That is my advice to go for it. (Income tax) if you have to wait to file

Those are the only bills that would actually go away.
Not the student loan she pays in her mother's name.
She does not have to pay it if its in her mothers name?
Not legally, no.
And, given the state of affairs of their relationship, believe me, I don't want to.

did her mom take it out in her name to help you guys or did she take it it out for herself and her daughter is wanting to help her?

Not my federal loans.
Define federal
Federal student.

If you finish your AA or some type of degree student loans subside in 20 years. Just pay the min payment possible and they are forgiven by law after a certain point. I think its 20

Not my mortgage.
It would cut your mortgage and give you a lower payment and interest rate for seven years if your bank supports the policy that most banks follow
True.
I may be able to streamline my FHA loan, though. But, it wasn't cost effective when I looked into it.

The bankrupcty thing is only really effective if you have credit card debt and other debt tagged into it. It will lower your mortgage payment while deleting the other debt. If that is an option though it could reduce your payment (mortgage) by half

Not my utilities.
That one you cant really fix
Not my personal loan in my mother's name.
Now i'm starting to think you meant co signing? When you mean in their name, or does it mean you are paying it for them?
No, it's completely in her name, and she got the loan specifically for me. Saved me $700/month....until we had to buy a car.
So, legally, I am not obligated, and if I need to miss a few payments, I'm sure she'd pay them for me.

Yeah I would obviosly advise to help her no matter what, after she did all of that. She seems like a really nice lady
Khaos_Mage
Posts: 23,214
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 7:26:05 PM
Posted: 2 years ago
At 8/12/2014 7:17:47 PM, Mikal wrote:
At 8/12/2014 7:13:15 PM, Khaos_Mage wrote:
At 8/12/2014 7:06:57 PM, Mikal wrote:
At 8/12/2014 7:03:54 PM, Khaos_Mage wrote:
At 8/12/2014 6:56:57 PM, Mikal wrote:

Truth be told, bankruptcy isn't even an option.
At best, it would eliminate our credit card debt, while high ($16K), isn't what is breaking us.
It's her car loan (I should have put my foot down and went with the cheaper car).
If you are going to have it repossessed you still could buy another one. Just save up for a cheap one before you do it and before you file

Save? What's that? LOL
Yeah, I would.
Actually, we'd be fine if it wasn't for the car loan.

you can fine some 1thousand dollars cars that will last you years. That is my advice to go for it. (Income tax) if you have to wait to file
Those cars need work, and she drives in rush hour 30 some miles. She needs a dependable car.
I drive a 2001 Saturn SL2 with 360K miles and the carpet is worn away and the bottom rusted out, you can actually see the road from inside the car. Watch out for puddles!!

Those are the only bills that would actually go away.
Not the student loan she pays in her mother's name.
She does not have to pay it if its in her mothers name?
Not legally, no.
And, given the state of affairs of their relationship, believe me, I don't want to.

did her mom take it out in her name to help you guys or did she take it it out for herself and her daughter is wanting to help her?

Who knows? They both suck with legal/money things.
It was for school, but apparently my wife's name isn't on it anywhere. If the mother dies, we won't be paying one more dime.

Also, the reason I don't want to pay it is because the two of them don't even talk anymore. Bad blood. I made a post somewhere about it in this forum.

Not my federal loans.
Define federal
Federal student.

If you finish your AA or some type of degree student loans subside in 20 years. Just pay the min payment possible and they are forgiven by law after a certain point. I think its 20

It's funny, because my loan just recalculated and will be paid off in less than 10 years.
Not sure the value in the subsiding of it. Plus, I heard about this law being considered, but not aware it passed.

Not my mortgage.
It would cut your mortgage and give you a lower payment and interest rate for seven years if your bank supports the policy that most banks follow
True.
I may be able to streamline my FHA loan, though. But, it wasn't cost effective when I looked into it.

The bankrupcty thing is only really effective if you have credit card debt and other debt tagged into it. It will lower your mortgage payment while deleting the other debt. If that is an option though it could reduce your payment (mortgage) by half

I'm assuming it increases the length of the loan.
I could just sell the house, too.

Not my utilities.
That one you cant really fix
Not my personal loan in my mother's name.
Now i'm starting to think you meant co signing? When you mean in their name, or does it mean you are paying it for them?
No, it's completely in her name, and she got the loan specifically for me. Saved me $700/month....until we had to buy a car.
So, legally, I am not obligated, and if I need to miss a few payments, I'm sure she'd pay them for me.

Yeah I would obviosly advise to help her no matter what, after she did all of that. She seems like a really nice lady
She usually is.
My work here is, finally, done.
YYW
Posts: 36,286
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 8:42:25 PM
Posted: 2 years ago
At 8/12/2014 12:51:12 PM, Khaos_Mage wrote:
My financial situation:
Me and my wife work. We barely, if even, make ends meet. I really should get a second job.

If we default, we could lose our house, her car (which she needs for work), it could be awful.

However, there is a temp opportunity (temp to hire) that I am being considered for, that is a 50% increase in pay, plus it's not a call center, but accounting (which I have an AAS in).

However, if I am fired, or I am let go, I will most likely not be eligible for rehire at the call center, making $12/hr, which isn't even enough to make ends meet, or barely is.

Big reward, HUGE risk.
Would you take the job?

Take it, and work your @ss off.
Tsar of DDO
YYW
Posts: 36,286
Add as Friend
Challenge to a Debate
Send a Message
8/12/2014 8:44:27 PM
Posted: 2 years ago
@Khaos

Really, what I'd suggest you do is look into going back to school for a bachelors degree (and then a masters) in something like finance, business or anything in an employable field. The student loan situation right now couldn't be better. Interest rates are low, repayment is affordable and it's an opportunity to live a better life. It's going to be hard, but it will be worth it in the long run.
Tsar of DDO