Just starting my Debt Program

**Nana2two** · 08-07-2009, 04:44 PM

You need to think of a fast plan. If your parents credit was good, its not now. Plus card companys will start taking your parents to court and start sueing them.

**BigTony** · 08-07-2009, 05:02 PM

Its thier house

**BigTony** · 08-07-2009, 05:04 PM

I have a question, some of the Creditors want all debts over 5k listed in the program. What if I was to take all the debts under 5k and work these on my own ? Everthing over 5k I can leave with Money Management for now.

**BigTony** · 08-07-2009, 05:05 PM

I am talkin with Discover card- Bal 3485.00 they still want 10 % ? I am on the phone with them right now.

**BigTony** · 08-07-2009, 05:16 PM

Money Management has already contacted Discover Card and they gave Money Management 9% ?

**Greebo** · 08-07-2009, 05:37 PM

Have you read the links about MOney Management, BigTony?

PLEASE do so...

**kita** · 08-07-2009, 09:49 PM

10% interest or 10% as a payment. 10% interest on a CC is Excellent nowdays. 10% payment is a more difficult thing.

Okay, I looked at both posts. I would say...if you gave MMI 9%, I want 9%. and keep working your way through the cards.

I don't know about splitting up the debts. In a way I think it may be the worst option because they are going to put you on that five year plan for all the debts especially the big ones. The ones I think you may need more time on. Oh, and you said the HELOC was $432 or whatever a month, how much total? How many years??

**kita** · 08-07-2009, 11:17 PM

I just thought of something. If the MMI is in Tony's name, will it cause tax problems, because he is "paying off" so much of "their" debt??

I think I have too much time on my hands...

**Nana2two** · 08-08-2009, 01:09 AM

Im all confused. So glad my parents did not let me use the credit cards. My dad did one time when i was 14 and i went to the mall and bought a angora sweater for $60 bucks this was in 1983 and some greek style sandles and my parents made me take them back. I was only suppose to buy a pair of Ditto Jeans.I never did the jeans.

**mauimagic** · 08-08-2009, 01:30 AM

smart parents - raised a smart daughter who became a smart parent!!!

**BigTony** · 08-08-2009, 03:11 PM

Thanks to all for your input, at this point I am going with Money Management, I hope you guys will still be here. I really need support !! I am going to change my life style and apply any extra money to paying off this mess. I will keep everyone posted, I hope better times are ahead for all !!!

God Bless,

Tony

**MaryCarney** · 08-08-2009, 04:46 PM

Originally Posted by BigTony

Thanks to all for your input, at this point I am going with Money Management, I hope you guys will still be here. I really need support !! I am going to change my life style and apply any extra money to paying off this mess. I will keep everyone posted, I hope better times are ahead for all !!!

God Bless,

Tony

Hey BigTony,
Whatever happens, remember this - there will be many, many people here at FV PRAYING for you as you work your way out of this mess. You really manned up laying everything out like you did. Use that strength of character to help you deal with the next few years and all the hard work ahead. You will be prayed for around our family's dinner table tonight!!!

**Nana2two** · 08-08-2009, 06:19 PM

I wish you BIG TONY the best of luck. It will be a hard road,but in the end,You will feel good about your self. You will be in my prayers. Remember we all make stupid choices and mistakes that we regret, but we do learn from them. Please stay on FV and we all will help you.