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OnlineHost: OnlineHost: *** You are in "MoneyWhiz I". *** OnlineHost: Hard Sync: what? Mirushi: I guess not. Guyushi: "Dreidel, Dreidel, Dreidel, i made you out of clay..." MWFREEDOM: hI DJ Hard Sync: I'm a half & half...my mom is a goy MWDebtFree: Hi Neil. MWFREEDOM: HI Guyushi: ok - HOST IN THE ROOM?!?!?!?! Mirushi: frum - orthodox MWFREEDOM: How are you? Guyushi: hey - i know you!! Mirushi: ahh.. thats my family background.. most of the fathers were goy MWFREEDOM: Yes hosts have arrived Guyushi: cool!! MWFREEDOM: Questions? OnlineHost: Mckinzzy has left the room. Mirushi: give a hand for the hosts!! (clap clap clap!) Guyushi: ok, everyboddy - simmer down - let the host introduce him/her/itself! MWFREEDOM: Welcome to the credit and debt chat Mirushi: (imagining a dollar bill talking to me) Guyushi: <<<<clap>>>> sign turned on... OnlineHost: GPatter589 has entered the room. OnlineHost: Royfw has entered the room. OnlineHost: Carvers5 has entered the room. Mirushi: << needs a genie to wish me a wish of a million dollars MWFREEDOM: Your hosts are MWDEBTFREE and MWFREEDOM OnlineHost: D1ZZY123 has entered the room. OnlineHost: Carvers5 has left the room. MWFREEDOM: Questions? Guyushi: ok - how do we do this? kind of chaotic with all the HE entered SHE left messages... Hard Sync: what would the host like to begin discussing? MWFREEDOM: You can turn that off under preferences OnlineHost: BMW ST has entered the room. OnlineHost: Causlandc has entered the room. MWFREEDOM: It is your discussion on debt-you ask the questions we provide the answers GPatter589: why should you pay more than the min on your credit card? OnlineHost: MIKIEANN has entered the room. MWFREEDOM: SO that you get out of debt without paying lots and lots of interest D1ZZY123: How do you get back on your feet after bankruptcy MWFREEDOM: over a 40-50 year time period Causlandc: is this only a discussion on debt?? Hard Sync: okay...i've got about $2500 left to pay off. Should I wait to invest or start now? Daybydei: Love the board...I've been living debt free for a few years, but I find it hard to part with MWFREEDOM: Invest in yourself and pay off the debt MWFREEDOM: one of the best investments going OnlineHost: PBurgx1 has entered the room. Hard Sync: that's what i thought but i'm watching my unpurchased stocks soar OnlineHost: Twohogs has entered the room. OnlineHost: Causlandc has left the room. MWFREEDOM: Welcome TWO OnlineHost: PIKISON has entered the room. Guyushi: question please:: will someone settle the argument if agences like CCCS are worh tthe Guyushi: hassle? Royfw: 40 or 50 yrs after BK do u really believe that or u just dont know mucu!! Twohogs: How are ya Neil? MWDebtFree: Guyushi - There's no black and white answer to that question. GPatter589: i think cccs affects your credit, doesnt it? MWFREEDOM: THey are worth it if you can't handle it on your own Guyushi: that's what i keep hearing Hard Sync: i would think they are b/c you are emotionally involved. they can negotiate better OnlineHost: BRM Don has left the room. Mirushi: what if you have an enourmous debt that might take three years to pay off? MWFREEDOM: Will put notice on your credit report that you are working with them Guyushi: it doesn't prevent the creditors from reporting your account as delinquent OnlineHost: FORMANBL has entered the room. OnlineHost: Causlandc has entered the room. Hard Sync: try a home equity loan MWDebtFree: NOOOO MWFREEDOM: 3 years or 30 years? Hard Sync: why not Mirushi: 3 years... Mirushi: in the 30,000 dollar range Guyushi: and ther'es no guarantee the creditors will lower or wave the interest MWFREEDOM: How much debt? GPatter589: i dont think you should put up your home for debt. MWDebtFree: Because you don't want to put your house at risk. MIKIEANN: i am about to retire/should i use some of my 401k to retire my debts? Guyushi: Mirush - are you speaking for yourself? ;-) Hard Sync: i'm not putting my house at risk and i got a great deal on the interest Mirushi: LOL Mirushi: Yes I am OnlineHost: BKriha has left the room. Guyushi: **KISS** MWFREEDOM: leave 401 k alone MWFREEDOM: Hard are you sure? Guyushi: 401 k RULES!! Hard Sync: yes Causlandc: should I pay off my home??interest rate is 6.75...have 10 yrs. left on balance OnlineHost: Quonja has entered the room. MWFREEDOM: NO risk on the house? OnlineHost: QuickDebtP has entered the room. MWFREEDOM: Pay it off! MWFREEDOM: Welcome Joew MWFREEDOM: Joe Hard Sync: my first mortgage was an 80% loan, not 90% like many first timers QuickDebtP: Hi, Neil.......how was your vacation? MWFREEDOM: Thanks for helping out last week Royfw: my friend when u have messed up and gone into debt too much-the credit co will eat u up at t Guyushi: isn't a CCCS notice on the credit report a red light to lenders? QuickDebtP: sure :) Mirushi: well... ? MWFREEDOM: Fine OnlineHost: BJfree96 has entered the room. MWFREEDOM: Mirushi-question again OnlineHost: Quonja has left the room. QuickDebtP: Yes, Guyushi OnlineHost: BMW ST has left the room. Guyushi: Mirush - i can hardly follow anything here... OnlineHost: BJfree96 has left the room. OnlineHost: MIKIEANN has left the room. OnlineHost: Quonja has entered the room. OnlineHost: BJfree96 has entered the room. Hard Sync: someone please speak MWFREEDOM: Questions? Mirushi: what if you have a debt of 30,000 and it will take 3 years to pay off.. is the cccs worth it OnlineHost: Toner96 has entered the room. Mirushi: ? Hard Sync: it depends on how good of a negotiator you can be with creditors MWDebtFree: Mirushi - No. MWDebtFree: If you can do it yourself within three years, why use CCCS? MWFREEDOM: $30,000 should take longer than 3 years to pay off for the average person Causlandc: what is your reasoning for paying off home early?? OnlineHost: Royfw has left the room. MWFREEDOM: What payments are you making? MWFREEDOM: Not to pay interest FORMANBL: what if you have a 10K loan and have had it for a while, would it be worth selling your car Causlandc: $486.00 monthly OnlineHost: Quonja has left the room. QuickDebtP: Yes, FORMANBL MWFREEDOM: Balance is? Mirushi: credit cards only. QuickDebtP: the love affair with the car is.......uh........a waste Mirushi: no house or any property FORMANBL: 1oK Causlandc: $37,000.00 Daybydei: I'm finally debt free (whew...) I pay an addt'l $110 mtg. pmt/mo. Should I increase this? Hard Sync: formanbl, do you have alternative transport Mirushi: or equity QuickDebtP: Congrats, Day! OnlineHost: Toner96 has left the room. Guyushi: Q: isn't a bank loan that pays off the balances and cancels your cards better than all FORMANBL: NO MWFREEDOM: Pay it off and invest your money elsewhere QuickDebtP: Day.......be careful about extra principal payments Guyushi: those open accounts on my report? D1ZZY123: Can you answer any questions on helping after a bankruptcy? OnlineHost: HeatMan007 has entered the room. OnlineHost: TFeeney913 has entered the room. MWFREEDOM: and not have to worry about making house payments Hard Sync: you need to think about how you are going to get around without a vehicle Daybydei: What do you mean "be careful" abt. addt'l principle pmts? MWFREEDOM: MW answer BK? GPatter589: what is the caution of making extra principal pmts? OnlineHost: PBurgx1 has left the room. MWDebtFree: Guyushi - What kind of bank loan? Are you talking about a home equity loan? QuickDebtP: Day...most mortgages apply additional principal pmts to the BACK of the mortgage GPatter589: doesnt it decrease your balance faster? OnlineHost: TFeeney913 has left the room. Guyushi: anyone see my last question? Causlandc: MWFreedom..the payments are not hurting us financially just want advice on paying off early MWFREEDOM: Need to be applied to balance Hard Sync: no...repeat QuickDebtP: You can increase your liquidity and SECURITY by saving the money and......... MWDebtFree: Dizzy.... what's the question? QuickDebtP: paying the mortgage off in full when you accumulate the amount due. QuickDebtP: You will save EXACTLY the same amount of interest. MWFREEDOM: $486 payments correct? How many left? OnlineHost: Guyushi has left the room. OnlineHost: Mirushi has left the room. Daybydei: Even if I mark the "extra principle pmt" box on the monthly coupon? Still "back end/" QuickDebtP: on MOST mortgages, DAy QuickDebtP: you should call to find out. Causlandc: 10 left to pay on loan...interest rate 6.75 OnlineHost: BJfree96 has left the room. MWFREEDOM: 10 =120 payments? Causlandc: 10 years MWFREEDOM: 120 payments? Causlandc: yes OnlineHost: Jonvend has entered the room. QuickDebtP: Daybydei, do you understand? MWFREEDOM: 120X $486= ? vs. $37000 MWFREEDOM: I would pay it off Daybydei: I'm not sure...I think it's good advice to clarify with the mtg. co. OnlineHost: HeatMan007 has left the room. Hard Sync: difference of $20,000approx QuickDebtP: exactly,Day........and see if you can get an amortization schedule........ QuickDebtP: thats where the proof is. Causlandc: cannot take tax deduction...children all gone...have to file short form OnlineHost: Jonvend has left the room. OnlineHost: Jonvend has entered the room. QuickDebtP: paying off a mortgage ten years early saves the same amount of interest whether you Daybydei: Does $25 fee for amort. schedule sound accurate? OnlineHost: Jonvend has left the room. MWFREEDOM: Most people find payuing $1 in interestr to save .37 in taxes not a greaT deal QuickDebtP: make extra monthly payments OR pay off the balance on that date all at once GPatter589: some banks will give an amoritzation free QuickDebtP: sounds like robbery, Day MWFREEDOM: Your choice FORMANBL: Would it be worth selling car,paying off 10K and buying another car? current car is worth 9K Twohogs: Do you have any programs in your computer that will Run amoratation schedule? Daybydei: Thanks... I'll find a cheaper way... MWFREEDOM: I have been there and prefer no debt MWDebtFree: And what's the payoff on it Forman? Hard Sync: possibly if you get something practical like a used honda accord FORMANBL: nothing QuickDebtP: FOR, if debt is a problem.......sell the car........pay off the debt....... QuickDebtP: and buy a car cash for whatever you can afford. Causlandc: or should I take the extra money and invest in stks for 10 years Hard Sync: anyone have any good low interest credit card they can recommend to the group FORMANBL: Thanks for the hel MWFREEDOM: Mutual funds may work also-it is your choice. Personally, I paid off the houswe and have no FORMANBL: help MWFREEDOM: regrets MWFREEDOM: WHat is the house worth? OnlineHost: GGreco7453 has entered the room. Causlandc: $165,000.00....just had it appraised...been here 25 years OnlineHost: GGreco7453 has left the room. Causlandc: Paid $42,000 for it 25 years ago MWFREEDOM: Nice feeling to have it all paid off GPatter589: would it be okay to have just one credit card for use? or none? some things you cannot get D1ZZY123: How do you get a question answered here?. GPatter589: without a credit card MWFREEDOM: OK Dizzy OnlineHost: MFTM has entered the room. MWFREEDOM: G one cc is ok if used like cash Hard Sync: gpat: you need at least one to make travel reservations, etc. MWFREEDOM: pay it before using D1ZZY123: How do I get bank on my feet after bankruptcy MWFREEDOM: Dizzy? QuickDebtP: thats 5.6% on the house, CAus MWFREEDOM: MWDEBTFREE could help you on that MWDebtFree: What Chapter did you file? D1ZZY123: chapter 7 OnlineHost: DWHALEN410 has entered the room. Daybydei: Thinking about doing $4-5,000 home improv. work. Recommend cash or 8% loan -- seems hard to Causlandc: Quick...don't understand??? Daybydei: part with the cash... MWFREEDOM: Cash is best QuickDebtP: just for fun......I calculated your return on your 42,000 house for 25 years MWDebtFree: D - Was everything discharged? QuickDebtP: comes out to 5.6% per year. :) MWFREEDOM: appreciation? QuickDebtP: yep FORMANBL: Is it better to pay off larger cc first, then large loans and small ccs MWFREEDOM: Good calculation MWFREEDOM: Smallest balance first D1ZZY123: eveything except personal taxes. MWFREEDOM: build your momentum QuickDebtP: FOR, there are differing opinions on that.......... Causlandc: Quick....oh well...I guess its better than leaving money in savings MWDebtFree: And how do they look? Manageable? Twohogs: s QuickDebtP: MWFREEDOM's idea works best though. MWFREEDOM: s? MWFREEDOM: What idea? Twohogs: Error QuickDebtP: smallest balance first. MWFREEDOM: s=error? (LOL) Hard Sync: twohogs? Causlandc: Quick....if I sold house we would take the once in a lifetime tax deduction Twohogs: Does for me da QuickDebtP: excellent. QuickDebtP: but not necessary if you replace it with a home of greater value MWFREEDOM: What state are you in? OnlineHost: TICKTOCK42 has entered the room. MWFREEDOM: questions? Twohogs: No questions hard i"m a regular lerker hear MWDebtFree: D1ZZY - Is the amount due on those taxes manageable? Causlandc: Quick...I know...but we want to downsize have ..have to large a home with land D1ZZY123: yes they are. I have set up an arrangement. QuickDebtP: Causlandc, then the exemption is a wise idea. MWFREEDOM: G patteer?> MWFREEDOM: You asked about cc ? GPatter589: yes MWFREEDOM: 1 cc is fine as long as you pay in advance on it OnlineHost: DWHALEN410 has left the room. MWFREEDOM: and can maintain a credit balance so that no finance charges are incurred GPatter589: ok. thanks MWDebtFree: When you are starting over after filing Bankruptcy, it's MWDebtFree: important that you make it a habit to follow sound money MWDebtFree: management principles. That includes monitoring your GPatter589: so it would be good to payoff the balance before the stmt cuts right? MWFREEDOM: I pay on mine BEFORE using it-works good MWDebtFree: spending habits, creating a budget and developing a savings MWDebtFree: plan. MWFREEDOM: Better to pay ASAP OnlineHost: DWHALEN410 has entered the room. MWFREEDOM: I pay on mine BEFORE using it GPatter589: i try to pay as soon as i receive my statement MWFREEDOM: just like it was cash OnlineHost: DWHALEN410 has left the room. MWFREEDOM: that works good also Hard Sync: wait...you pay your cc before you charge? i'm confused MWFREEDOM: You get the general idea MWFREEDOM: Yes I pay BEFORE using just like cash OnlineHost: TMcnutt787 has left the room. D1ZZY123: yes i do thanks. QuickDebtP: seem strange,Hard? its a good lesson.......credit cards can be a trap. MWFREEDOM: Questions about that? GPatter589: once i receive my statement showing what i owe, i mail the pmt asap. MWFREEDOM: Great!!!! Hard Sync: i know...i use cash and only use credit to secure reservations, etc. MWFREEDOM: Who was confused? QuickDebtP: perfect, Hard. Hard Sync: i was...but i'm no longer FORMANBL: what do you think about consolidation loans and 5.9 financing MWFREEDOM: NO way! QuickDebtP: BLECKY MWFREEDOM: 5.9% is a trap! OnlineHost: D1ZZY123 has left the room. QuickDebtP: Consolidating is a bigger trap! MWFREEDOM: Consolidation loans= borrowing yourself out of debt MWFREEDOM: TWO what happened? MWFREEDOM: Doesn't happen MWFREEDOM: Don't fall for that scam! MFTM: question: i am about to file chapter 7 and wonder how long it will take to build up a Causlandc: MWFreedom...we are retired..income cut in half..would be nice not to have house pymt MFTM: passable credit rating again FORMANBL: I'm overwhelmed and trying to streamline without bankrupcy QuickDebtP: MFTM, are you sure its necessary to go BK? MWFREEDOM: Good pay it off GPatter589: unfortunately i feel for that scam but am paying more than the min on my card MWDebtFree: MFTM - Bankruptcies stay on your credit report for 10 years. Causlandc: in 5 years tho income will double MWFREEDOM: FORM? MFTM: $34,000 in debt and no job TICKTOCK42: Sorry to interrupt but does this room follow an order when asking and answering ? MWFREEDOM: No just jump in QuickDebtP: MFTM......that IS manageable......may not need BK. OnlineHost: SAram403 has entered the room. MFTM: sounds good - tell me what i can do MWFREEDOM: I understyand and don't understand your question TICKTOCK42: Do all ? have to be related to credit card debt? QuickDebtP: well first........how soon can you get a job? MWFREEDOM: WHat is your question? QuickDebtP: MF, have you considered two part time jobs for the time being? MFTM: i have a part time temp job now QuickDebtP: how about another? MFTM: and hope to have a full time job within the month QuickDebtP: willyour full time job replace your lost income? Hard Sync: MF..you can do it. i've done it before. TICKTOCK42: I am trying to manage a household budget on one steady income and the other fluctuating OnlineHost: Twohogs has left the room. MWFREEDOM: G more than the min or level? or Paying off balance? OnlineHost: CEllerbroe has entered the room. MFTM: it will partly replace income - taking a $10,000 decrease in pay MWFREEDOM: Yes TICK QuickDebtP: have a family, MF? MFTM: no family QuickDebtP: cool....should be much easier then. TICKTOCK42: I have a full time job, but husband is in a law practice, ie. pay is not regular QuickDebtP: remember, MF...there are many more benefits to paying off your debt than just paying it off. MFTM: i opened my own business about 6 years ago and financed it with cc QuickDebtP: thats funny......I'm about to do the same thing. MWFREEDOM: OK-question is? MFTM: ran up a huge amount of debt and just can't seem to pay it off OnlineHost: G96879 has entered the room. QuickDebtP: yeah, Neil....I have a question. TICKTOCK42: Can only depend on my income on a regular basis and is not enough to cover monthly bills MWFREEDOM: Yes Joe OnlineHost: MBures has entered the room. Hard Sync: mf...i've been there....i sympathize QuickDebtP: I want to finance a business venture of my own.......I need about $20,000 to start...... MWFREEDOM: Leaks plugged? MWFREEDOM: OK QuickDebtP: as you know I have no debt except mortgage. MWFREEDOM: YEs QuickDebtP: I intend to use cc money. Is that wise, crazy? OnlineHost: Twohogs has entered the room. MWFREEDOM: WHat is your payback time? OnlineHost: G96879 has left the room. OnlineHost: MBures has left the room. Hard Sync: my new year's resolution is to achieve that no debt cept mortg. status QuickDebtP: lol...........um........not sure....its a gamble. Causlandc: I might sound stupid....what is cc money??? OnlineHost: D1ZZY123 has entered the room. QuickDebtP: credit card. TICKTOCK42: How does on begin to budget when part of the income is not on a regular basis MWFREEDOM: Depends on how risky the businerss is Causlandc: Quick...Thanks TICKTOCK42: I find that I am always robbing Peter to pay Paul QuickDebtP: I don't know where else to get financing. MWFREEDOM: By logging all expenditures and plugging your financial leaks QuickDebtP: and you know how much I loathe building debt. MFTM: i'd like to know if there's any way to negotiate payments with the banks MWFREEDOM: They won't fiance? QuickDebtP: of course, MF OnlineHost: CEllerbroe has left the room. MFTM: instead of just declaring bankruptcy OnlineHost: SAram403 has left the room. MWFREEDOM: finance? OnlineHost: BADBAKBOB has entered the room. QuickDebtP: MF, BK is YOUR choice......noone can make you do it. MWDebtFree: MFTM - Have you tried to negotiate with the banks? QuickDebtP: who banks? probably not........not a mfg or inventory related business. QuickDebtP: SBA won't either due to the type of business. MFTM: called two of the banks to renegotiate monthly payments - no go Causlandc: thanks for tips and advice...have to leave FORMANBL: should you work on paying off ccs, before you establish emergency cash QuickDebtP: MF, the trick is to get on your feet asap......they will get what they get when you give it QuickDebtP: to them Hard Sync: i second the question formanbl MWFREEDOM: Can the business support itself initially and then finance its own growth? QuickDebtP: I think so, FOR MFTM: thanks for your help OnlineHost: MFTM has left the room. QuickDebtP: I think so, MW. But start up costs can be large...... OnlineHost: Causlandc has left the room. QuickDebtP: I'm just chicken so far, I guess. TICKTOCK42: any suggestions for me? MWFREEDOM: 50/50 on that emergency cash is very valuable FORMANBL: You think what Quick OnlineHost: BADBAKBOB has left the room. OnlineHost: Jamaju has entered the room. MWFREEDOM: Tick-log all expenses for the next 21 days and plug leaks QuickDebtP: FOR, I think paying off debt with ALL available cash takes precedence over QuickDebtP: having an emergency fund. TICKTOCK42: don't understand "plug leaks" QuickDebtP: You would be surprised how few emergencies come up when you don't have the money! MWFREEDOM: You need to start a savings plan so start withe-funds OnlineHost: CAMACOZZEE has entered the room. FORMANBL: what about emergencies, cc MWDebtFree: Yeah... but there needs to be money put aside for true emergencies. QuickDebtP: yes, For MWFREEDOM: Unneccessary expenditures-coffee/videos/ etc etc MWDebtFree: Otherwise, you pull out the plastic and build debt all over again. OnlineHost: Causlandc has entered the room. Twohogs: Nite All QuickDebtP: thats a good use for credit cards.....emergencies. MWDebtFree: If you don't have an emergency fund, you won't have the $400 needed for car MWDebtFree: repairs. OnlineHost: CAMACOZZEE has left the room. MWFREEDOM: Nite TWO! MWDebtFree: You'll put it on the card. TICKTOCK42: thanks and good nite OnlineHost: TICKTOCK42 has left the room. OnlineHost: Twohogs has left the room. OnlineHost: Causlandc has left the room. MWFREEDOM: Sounds like your family needs to downsize more QuickDebtP: true, MW, but don't you think there are psychological advantages to putting ALL MWFREEDOM: questions? QuickDebtP: cash down on debt? expecially for debt builders? Jamaju: give me an example of how much i can save by paying more than the minimum Hard Sync: but how many emergencies are going to occur btwn paying off ccs and building emer. fund QuickDebtP: right, Hard MWFREEDOM: Jam what is your cc debt? MWDebtFree: It's working without a net if you ask me. There's no security there. QuickDebtP: this emergency stuff gets blown out of proportion i think. Jamaju: close to about 4,000 MWFREEDOM: Joe send me an e-mail with more details QuickDebtP: ok, Neil. OnlineHost: Daybydei has left the room. MWFREEDOM: OK at min payments it will take 35-40 years to pay off vs. 96 with level paymentsd Hard Sync: hey quick...got any suggestions of good low rate cards MWDebtFree: Hard Sync - Check our sister site, Bank Rate Monitor. MWFREEDOM: MOney WHiz has list in the bank rate monitor MWFREEDOM: Jam-understand? Hard Sync: gracias FORMANBL: I live in HI and emergencies like death of a loved one is my concern, quick, just have room MWDebtFree: Um... oui? Jamaju: not really are you saying that it will take me 35-40 yrs to pay off my debt of 4,000 ? FORMANBL: on paid off card MWFREEDOM: Yes if you make the min payments. MWFREEDOM: WHat is your min payment? $80? Jamaju: what do you mean by paymanstd ? MWFREEDOM: ????? MWDebtFree: For - Deaths, car repairs, home repairs, medical emergencies are all valid reasons MWDebtFree: to have an emergency fund. MWFREEDOM: typo QuickDebtP: no suggestions here, Hard....I avoid credit cards! OnlineHost: CHinch7453 has entered the room. Hard Sync: i know but like i said sometimes you need them for business, reservations, etc. Jamaju: what do you suggest that i make as a payment to pay off this debt sooner ? MWDebtFree: No you don't. MWDebtFree: You can use a Visa or MasterCard Check Card. MWFREEDOM: 1st what is you min payment? MWFREEDOM: now? Hard Sync: my job requires me to go out of town, use my card and then get reimbursed MWDebtFree: They have numbers and expiration dates that make them identical to credit cards. QuickDebtP: MWDEBT, I think an emergency fund for a spender is like keeping pain killers around for an QuickDebtP: addict. MWDebtFree: How quickly do you get reimbursed? Hard Sync: sometimes the trips can add up and i don't want to deplete my checking of cash Jamaju: about 25.00 for each of my four cards, one being a mastercard and the others dept store card QuickDebtP: thats why I put the debt payoff as a priority assuming credit is available........ QuickDebtP: for TRUE emergencies. MWDebtFree: That's the thing QuickDebt, they shouldn't keep it around the house. MWDebtFree: It needs to be put away for emergencies. Hard Sync: i get reimbursed within a week or two. MWFREEDOM: What is your balance on each card? D1ZZY123: thanks. goodnight QuickDebtP: see ya, Dizzy MWDebtFree: Hard Sync - Could you bank account stand a hit on it like MWDebtFree: that till you get reimbursed? Or would your company look MWDebtFree: into alternate ways of working your expenses? OnlineHost: D1ZZY123 has left the room. Jamaju: mastercard 500.00 hecht's 200.00 lane byrant 225.00 and best card 750.00 Hard Sync: i've had expense forms range from $100 to $1,000. it just depends on the month MWFREEDOM: You said you had $4000 balnce MWFREEDOM: balance Hard Sync: i don't want to travel with a lot of cash and my cards offer loss/theft protect MWDebtFree: Sounds like they need to get you a corporate card that is billed to them. Hard Sync: my check card does not MWFREEDOM: I figure $1725 QuickDebtP: Hard, using cc is ok....just send the reimb check right to the cc company when you get it. QuickDebtP: sound good? Hard Sync: RaceTrac Petroleum doesn't issue company cards Jamaju: i have a deferred billing of about 2700.00 that have not been billed, its not a credit card OnlineHost: CHinch7453 has left the room. Hard Sync: i do send it right away MWFREEDOM: Well I su Hard Sync: ??? MWFREEDOM: suggest paying off lowestr balnce first OnlineHost: DClute2886 has entered the room. MWFREEDOM: ANd make level payments on your debts MWFREEDOM: when does the $2700 kick in? FORMANBL: thanks,MW and Quick. I have to make dinner!! QuickDebtP: MW, how does one do both of those at the same time? Jamaju: what are level payments? the 2700 kicks in october MWFREEDOM: Night QuickDebtP: ok, FOR (making me hungry) Hard Sync: what's for dinner QuickDebtP: LOL MWFREEDOM: Level=making the same payment month in month out vs a min payment FORMANBL: Mexican night in HI Hard Sync: yum MWFREEDOM: OLE! Hard Sync: lol OnlineHost: Smartcor has entered the room. QuickDebtP: yo quiero taco bell! FORMANBL: What does lol mean Jamaju: how much more than the minimum should i pay and how much interest would this save me ? QuickDebtP: yeah MWDebtFree: Laughing out loud OnlineHost: SPers8 has entered the room. FORMANBL: me, too!!! MWFREEDOM: How much more can you afford towards payments? Hard Sync: hey forman, fix me a taco Jamaju: probably an extra $25.00 on each QuickDebtP: ROFL QuickDebtP: (this is getting good) Hard Sync: rofl? QuickDebtP: rolling on the floor laughing. FORMANBL: Come on over and sell my 9K car and eat tacos and pay off loan QuickDebtP: ROFL MWFREEDOM: Right now 75% of your min payment is interest so by making $25 extra on each one you Hard Sync: ooh...action laugh Hard Sync: i like that MWFREEDOM: woyuld pay off debt aprox 75% faster QuickDebtP: and you would pay off the smallest balance SLOWER, eh? QuickDebtP: i really do not understand those seemingly conflicting goals. MWFREEDOM: I still say concentrate on paying off lowest balance first until it is paid off OnlineHost: FORMANBL has left the room. QuickDebtP: but you also said make level payments. MWFREEDOM: How so? Jamaju: sounds good ! can you give me any help on my car loan. it's a year old, financed at 14,000 QuickDebtP: thats my question exactly! Hard Sync: what kind of car MWFREEDOM: Concentrate on lowest balance while making level on the rest QuickDebtP: they are conflicting goals.......its either pay off the smallest one OR make level pmts. QuickDebtP: but you agree that level on the rest only SLOWS the payoff of the smallest balance... OnlineHost: Belle6162 has entered the room. Jamaju: nissan 200sx financed for 60 months @295.00 per month QuickDebtP: yes? MWFREEDOM: Level on all except lowest which gets extra $ Hard Sync: it seems like you could find a fine car (used) for less OnlineHost: Poohest has entered the room. QuickDebtP: but........my question. MWFREEDOM: Jam what is the querstion? QuickDebtP: OF COURSE YOU CAN........I just bought a car for $450 MWFREEDOM: IN NY? QuickDebtP: yep Hard Sync: get out of this $14,000 loan and get some quality used car. i've got an 89 BMW i paid $9k MWFREEDOM: tires? MWDebtFree: LOL OnlineHost: GRSAG has entered the room. Jamaju: how can i reduce my finance rate for the nissan 200sx QuickDebtP: oh, its got brand new tires! :) MWFREEDOM: can't reduce but can pay off faster by adding $75 more pure month QuickDebtP: um.....sell it and pay off the loan. SPers8: SELL THE CAR YOURSELF Hard Sync: sell, sell, sell OnlineHost: SSG9033 has entered the room. MWFREEDOM: will cut your term MWFREEDOM: and save $$$$$ OnlineHost: SSG9033 has left the room. Jamaju: 75.00 more a month would knock of what in time and interest MWFREEDOM: so you will save time and money Hard Sync: buy used QuickDebtP: buy used! OnlineHost: BatGirl373 has entered the room. MWFREEDOM: I would have to run it on the program-e-mail me and I will tell you Hard Sync: et tu quick? OnlineHost: BatGirl373 has left the room. QuickDebtP: over 30% of new cars are leased. MWFREEDOM: leached OnlineHost: BatGirl373 has entered the room. Hard Sync: no lie QuickDebtP: yes, me too, Hard! Jamaju: okay give me your address OnlineHost: BatGirl373 has left the room. OnlineHost: BatGirl373 has entered the room. MWFREEDOM: MWFREEDOM GPatter589: i'll never get a leased car OnlineHost: BatGirl373 has left the room. MWFREEDOM: 2 minutes left-any questions? QuickDebtP: yes MWFREEDOM: OK Jamaju: dah, i keep forgetting about this fantastic medium, thanks for the advice QuickDebtP: you still didn't answer my previous q. GPatter589: my husband has a car loan with an interest rate of 27%. i thought about refinancing the loan MWFREEDOM: Welcome OnlineHost: GRSAG has left the room. OnlineHost: GRSAG has entered the room. OnlineHost: Fvfmikeb has entered the room. GPatter589: what do you think? SPers8: NEED THE BEST RATE FOR NEW CONSTRUTION Hard Sync: 27%???????!!!!!!!!! QuickDebtP: YIKES Hard Sync: that's rape GPatter589: yep MWDebtFree: A car loan at 27%?????? MWFREEDOM: Sure go for it ASAP! QuickDebtP: and he signed! OnlineHost: GRSAG has left the room. GPatter589: yes. it's a used car also Hard Sync: just fasten the albatross now MWDebtFree: Good God! OnlineHost: ALEWIS4331 has entered the room. ALEWIS4331: hi MWFREEDOM: Guido's Loan Company? Hard Sync: i've got a bridge is massachusettes MWFREEDOM: HI QuickDebtP: LOL MWDebtFree: ::laughs:: GPatter589: no. lol OnlineHost: Comet987 has entered the room. Hard Sync: maybe temp. insanity is a legal defense OnlineHost: Jamaju has left the room. GPatter589: i think i can get it at a cheaper rate if i co sign with him. but i dont know if i want to Hard Sync: scary.... OnlineHost: Belle6162 has left the room. OnlineHost: Poohest has left the room. QuickDebtP: SELL the car. MWFREEDOM: Ok folks hopefully you can join us next Monday-same time same station Hard Sync: why is it so high? MWFREEDOM: Night OnlineHost: PIKISON has left the room. OnlineHost: SSG9033 has entered the room. OnlineHost: Belle6162 has entered the room. Comet987: are there any credit cards still giving away free money ?