+- Hack Forums (https://hackforums.net)
+-- Forum: General Topics (https://hackforums.net/forumdisplay.php?fid=7)
+--- Forum: World (https://hackforums.net/forumdisplay.php?fid=445)
+---- Forum: The Lounge (https://hackforums.net/forumdisplay.php?fid=25)
+---- Thread: What would you do when in debt? (/showthread.php?tid=6259986)
RE: What would you do when in debt? - Disease - Jan 3, 2024
(Jan 3, 2024 11:45 AM)dat boi Wrote: To be honest with you, buddy.
I have been absolutely mollywhopped by my mortgage company and by miscellaneous horrible things.
You don't deal with it, you cope with it.
See, this is a dangerous mindset to have. If you do not have the means to correct your situation then sure, there's going to be some coping. But there's almost always something more people can be doing to course correct a bad financial situation.
In your case you mention your mortgage company doing something that put you out. What exactly do you mean by that? I hear people talk about getting "screwed over" by their lenders all of the time. But 999 out of 1,000 times it's due to not understanding the terms of their contract, or bad performance in repayment and facing the consequences of that. It is so exceptionally rare to see lenders actually violating their contracts, yet you'd think it was a daily occurrence experienced by the majority of consumers if you listened to people gripe.
RE: What would you do when in debt? - dat boi - Jan 3, 2024
(Jan 3, 2024 11:55 AM)Disease Wrote: See, this is a dangerous mindset to have. If you do not have the means to correct your situation then sure, there's going to be some coping. But there's almost always something more people can be doing to course correct a bad financial situation.
In your case you mention your mortgage company doing something that put you out. What exactly do you mean by that? I hear people talk about getting "screwed over" by their lenders all of the time. But 999 out of 1,000 times it's due to not understanding the terms of their contract, or bad performance in repayment and facing the consequences of that. It is so exceptionally rare to see lenders actually violating their contracts, yet you'd think it was a daily occurrence experienced by the majority of consumers if you listened to people gripe.
A lot of the times, coping with it seems to be the best. Either you can moan and groan about being financially diddled(considering it is out of your control), or just learn to not stress over it. 9 times out of 10 it will get resolved; just not at the time you necessarily want.
What I mean by they screwed me over, is: For the last two years they aren't charging me for the correct amount on escrow. I almost always end up in a "shortage" because they are charging me for the whole land parcel, even though it is a SPLIT parcel. With homestead exemption, mind you that. So they charge me double the amount they should. Then at the end of the calendar year, they send me an analysis and a check and a letter saying "sorry". I have consulted with them numerous times about their wrongdoings, but they don't ever resolve it 100%.
RE: What would you do when in debt? - rocko212 - Jan 5, 2024
Hope for the best and hit the casinos
RE: What would you do when in debt? - Yanix - Jan 5, 2024
(Jan 5, 2024 06:51 PM)rocko212 Wrote: Hope for the best and hit the casinos
Hope for the best but avoid the casinos instead look for much more and better opportunities to earn money. đ
RE: What would you do when in debt? - illuminatiⲠ- Jan 5, 2024
(Jan 2, 2024 05:24 PM)iykyk300 Wrote: What would you do when in debt?
Full send, obviously.
RE: What would you do when in debt? - Realizm - Jan 5, 2024
It really depends, you havenât given us much information to go on. What type of debt is this? Credit Cards, Personal Loans, Car Loans, Student Debt, Mortgage, etc.
I donât know how much debt you have and how much income you have to judge on a debt to income ratio.
I will say that most debt is bad. Mortgages are typically seen as âgood debtâ but really any debt that is over ~4-6% is difficult to justify. If I were in debt again, I would pick up extra hours at work. Get a second or third job again. I would hustle as much as I could and pay it off as fast as I could and then take measures and make proper planning to never allow it to happen again like setting up an emergency fund.
RE: What would you do when in debt? - diiaz - Jan 6, 2024
(Jan 5, 2024 06:51 PM)rocko212 Wrote: Hope for the best and hit the casinos
This is the only good advice here.
/thread
RE: What would you do when in debt? - DashPHP - Jan 6, 2024
I would just work on making money, and by getting away by paying the smallest amounts back per month.
This is me rn xd
RE: What would you do when in debt? - kshi7 - Jan 10, 2024
Like student loan debt or you were sued debt? Both have different answers. With student loans you pay monthly, otherwise you sell all your assets or the insurance makes up for it
RE: What would you do when in debt? - Presto777 - Jan 24, 2024
Managing your funds is key but most important is staying true to the calculations and not spending more than what you calculated you could spend.
RE: What would you do when in debt? - Charlie Sheen - Jan 26, 2024
Depends on the amount of debt. I would work out what payment plans are available. Then I would take a look at my bills and my budget and cut whatever I didn't need. I'd look at cheaper options for things that I do need. Then try to live by that budget, and most importantly remember the hole that I dug myself into and make it a goal to not find myself in it again.
RE: What would you do when in debt? - Deany - Jan 26, 2024
I already am in debt and panic nonstop lol
RE: What would you do when in debt? - ZombieTemp - Jan 26, 2024
There must be some money talks for teens especially mental health aspects also in curriculum
RE: What would you do when in debt? - voltkey1 - Jan 26, 2024
i would have borrowed more lol
RE: What would you do when in debt? - Popular - Jan 26, 2024
(Jan 3, 2024 03:24 AM)Eran Wrote: Make more money and try to resolve the issue asap so I get that stress out of the way.
Yeah this is what I would say too..