Our debt load consisting of credit cards, personal loans, mortgage, car loans and parent plus (student loans) was in the neighborhood of yours. We didn't do any kind of public debt confession nor did we get any kind of consolidation or anything, we simply got tough on ourselves and focused like a laser on paying off everything in a debt snowball. We had about $20K in secret loans that we were in denial of plus all the outstanding loans we admitted to, almost $140K total. So we threw basically the kitchen sink at our debt, an exhausting 56 months that at the time seemed like forever but now is but a flash in the pan. Add another 4 mounts to put together 6 months emergency fund, so 5 years of budgeting hades. The big lesson we learned is budget like our lives depend on it and stay out of debt. Paying ourselves is far superior to paying a bank.
I wish you luck on your journey to better credit... I think we have all gone through what you are going through... except your more honest and open about it..
I don't understand how people can think you don't need a good credit score when your credit score is checked for everything.. when you apply for a job, rent a place to live, set up your utilities, to buy a cellphone, to buy a house, car, and probably so many more things I can even remember. So if they have funds like that to pay cash for everything good for them, but I love having access to credit. I have made my mistakes with it and I'm paying for it now, but that's not gonna stop me from doing what I have to do. Thanks for sharing! Good luck on your journey!
In fact you don’t need a good credit score today to buy a house 🏡 they punish the people with the good credit scores but adding fees in the mortgage! So there’s no way to understand any of it! It’s set up to screw us nonetheless I’m proud to watch your video and learn!
But it shouldn’t be that way. It’s because we, as a society, quickly became debt users that previous generations never used. Places can use letters or previous bills for the past year to validate your ability to pay.
Wouldn’t that be amazing if we had the cash to buy whatever we want or needed? Lol! That’s not my life so I’m happy to use my credit. 😆 You did a great job knocking down that debt!! I love to see this kind of hustle.
You didn't spill the tea, but I think I've got the inference!! I am side eyeing this person I'll never meet ahahah Debt consolidation is a good tool, IF you change your mindset - which you have. You're doing great
I had to do one of these a few years back. I just remember the feeling of being so overwhelmed and not knowing where to turn and what to do when I started the program. In retrospect it was probably not the best financial decision I have ever made but it is FAR from the worst and, honestly, I'm not sure that I would be where I am now if I hadn't done it. Congratulations on being almost done! The credit will come back up quicker than you think once you start to rebuild. Just get a low balance card, charge your gas or phone bill to it every month and set it to auto pay. Don't even put it in your wallet. I'm excited for you to come out the other side!!
Thank you! Yes, probably not the best decision, but not the worst. Now I'm on a mission to help women gain control of their finances (whether they have a partner or not)!
If the Freedom you're dealing with is connected to Freedom Mortgage, expect additional fees and costs to completely pay off the debt; just getting extra principle-only payments properly applied took a phone call each month to verify they went where directed by accompanying letter, as written on the instrument its self, etc... Getting the final payoff took 2 additional fees and 2 additional months plus more 'cause the loan was still active.
Super congratulations for getting to the end of the tunnel on this one; may you pass out of the tunnel and into some blinding sunlight by April, or at least the end of May.
Dont use freedom debt relief. They are a middle man. Just negotiate with the collection agency yourself and save a good amount of money to pay the settlement yourself.
Thank you so much for sharing your story. I’ve never worked with a debt consolidation company before, but I wonder if some of them are a bit predatory like how you mentioned that they wanted you to put down some more deposit money for the legal action. Totally unrelated question, but do your students know you have a channel and if so, do they watch it?
No, they don't. They're the reason I started RUclips actually. I have considered hiding my weight loss and fertility videos, then going more "public" about doing youtube. I also have a 2nd channel for my reselling content. I think the financial topics would be beneficial to share.
Funny you’re calling out someone else as being conniving, when you’re the one who doesn’t take responsibility for your own behavior. You wouldn’t have had legal action taken against you, if you had paid your bills. They’re your bills, you are responsible for paying them. Clearly, this other person doesn’t like you and I’m sure she has her reasons. Maybe if you weren’t so phony, people would have more respect for you and treat you better.
Our debt load consisting of credit cards, personal loans, mortgage, car loans and parent plus (student loans) was in the neighborhood of yours. We didn't do any kind of public debt confession nor did we get any kind of consolidation or anything, we simply got tough on ourselves and focused like a laser on paying off everything in a debt snowball. We had about $20K in secret loans that we were in denial of plus all the outstanding loans we admitted to, almost $140K total.
So we threw basically the kitchen sink at our debt, an exhausting 56 months that at the time seemed like forever but now is but a flash in the pan. Add another 4 mounts to put together 6 months emergency fund, so 5 years of budgeting hades.
The big lesson we learned is budget like our lives depend on it and stay out of debt. Paying ourselves is far superior to paying a bank.
That's a lot of hard work! I agree, paying ourselves is so much better!
Your hair looks so nice in this video! You have nothing to be ashamed of, you should feel proud. Congratulations on being at the end of this loan.
Thank you! When it's humid it like to do its own thing.
I wish you luck on your journey to better credit... I think we have all gone through what you are going through... except your more honest and open about it..
Thank you! I hope that by sharing it helps others realize they aren't alone, we can over come our past mistakes, and gain control of our future.
Personal finance advice is so important for everyone especially those starting adulthood.
Indeed!
I don't understand how people can think you don't need a good credit score when your credit score is checked for everything.. when you apply for a job, rent a place to live, set up your utilities, to buy a cellphone, to buy a house, car, and probably so many more things I can even remember. So if they have funds like that to pay cash for everything good for them, but I love having access to credit. I have made my mistakes with it and I'm paying for it now, but that's not gonna stop me from doing what I have to do. Thanks for sharing! Good luck on your journey!
I dont understand it either. 🤷♀️
In fact you don’t need a good credit score today to buy a house 🏡 they punish the people with the good credit scores but adding fees in the mortgage! So there’s no way to understand any of it! It’s set up to screw us nonetheless I’m proud to watch your video and learn!
But it shouldn’t be that way. It’s because we, as a society, quickly became debt users that previous generations never used. Places can use letters or previous bills for the past year to validate your ability to pay.
Wouldn’t that be amazing if we had the cash to buy whatever we want or needed? Lol! That’s not my life so I’m happy to use my credit. 😆 You did a great job knocking down that debt!! I love to see this kind of hustle.
You're so close. I bet it will feel amazing when it's finally paid off!
I can't wait!!!
That’s so exciting that you’re almost finished!
You didn't spill the tea, but I think I've got the inference!! I am side eyeing this person I'll never meet ahahah
Debt consolidation is a good tool, IF you change your mindset - which you have. You're doing great
🤐😇👀 haha!
Amazing work. Keep going forward. You are almost there.
Respect! What you are doing is impressive.
Thank you!
I had to do one of these a few years back. I just remember the feeling of being so overwhelmed and not knowing where to turn and what to do when I started the program. In retrospect it was probably not the best financial decision I have ever made but it is FAR from the worst and, honestly, I'm not sure that I would be where I am now if I hadn't done it.
Congratulations on being almost done! The credit will come back up quicker than you think once you start to rebuild. Just get a low balance card, charge your gas or phone bill to it every month and set it to auto pay. Don't even put it in your wallet. I'm excited for you to come out the other side!!
Thank you! Yes, probably not the best decision, but not the worst. Now I'm on a mission to help women gain control of their finances (whether they have a partner or not)!
If the Freedom you're dealing with is connected to Freedom Mortgage, expect additional fees and costs to completely pay off the debt; just getting extra principle-only payments properly applied took a phone call each month to verify they went where directed by accompanying letter, as written on the instrument its self, etc... Getting the final payoff took 2 additional fees and 2 additional months plus more 'cause the loan was still active.
Yesterday's call with them was a saga! I filmed a video so it will be coming out whenever I get a chance to edit it. :-)
Thanks for keeping it real.
Only way to be.
This is a super thumbnail and title!
Thank you! Like to change it up sometimes!
Keep up the good work and thanks for sharing your story.
About that stipend .... It is a PIA but, it only affects the premature payoff of a long standing debt not how much food sits on the table.
💯
Oregon doesn’t have a debt consolidation 😢. I loved this video you are so honest and real about your journey I love that
If you are in debt, and in need of help with plan, email me!
Super congratulations for getting to the end of the tunnel on this one; may you pass out of the tunnel and into some blinding sunlight by April, or at least the end of May.
Dont use freedom debt relief. They are a middle man. Just negotiate with the collection agency yourself and save a good amount of money to pay the settlement yourself.
Too late!
Thank you so much for sharing your story. I’ve never worked with a debt consolidation company before, but I wonder if some of them are a bit predatory like how you mentioned that they wanted you to put down some more deposit money for the legal action. Totally unrelated question, but do your students know you have a channel and if so, do they watch it?
No, they don't. They're the reason I started RUclips actually. I have considered hiding my weight loss and fertility videos, then going more "public" about doing youtube. I also have a 2nd channel for my reselling content. I think the financial topics would be beneficial to share.
@@budgetandbalance makes sense :)
What they can do for you, you can do for yourself and save yourself some money!! I did it and so can you!!!
😊
I would report that lady who dies she think she is
Funny you’re calling out someone else as being conniving, when you’re the one who doesn’t take responsibility for your own behavior. You wouldn’t have had legal action taken against you, if you had paid your bills. They’re your bills, you are responsible for paying them.
Clearly, this other person doesn’t like you and I’m sure she has her reasons. Maybe if you weren’t so phony, people would have more respect for you and treat you better.