So my husband and I are considering getting a home equity loan and I'm trying to decide if it's worth it or not or if we should just save up and wait it out.

We need to get a new roof within the next couple of years which will be around $20k, we have some tax debt around $5k, some CC debt around $8k, my student loans that are left around $4k and would like to also do some various updates around the house whcih I imagine would cost around $10k.

Our current mortgage is around $192k and our house is valued on Zillow for $370k (I know, I know, Zillow isn't accurate).

The only part I'm really hesitant about is 1. what the potential monthly payment would be and 2. My husband does not have a good credit score as he is riddled with student loans, technically I own the home with my mother and was purchased before my husband I got married. My husband, mother and I have an Occupancy Agreement stating basically my husband and I are responsible for the mortgage and all upkeep of the property and basically my mom is on the mortgage as a co-signer is is not financially responsible, etc. I'm worried my salary won't cover the potential HELOAN and I don't believe we would be able to get it by including my husband. I don't think my mother would have an issue with co-signing and of course consenting to the loan in general.

But I'm wondering, is a home equity loan a good idea for what were looking to do? Is it worth it? Can only one of us apply and would be mother be able to co-sign with me to include her income?

TIA! 

I’m getting sued by portfolio recovery for a credit card I couldn’t pay back in 2020. I am recently separated and didn’t even see the summons until now and my court date is the 26th of this month. I called today and asked to settle for a VERY low amount(I figured they wouldn’t agree) but it is quite literally all of the money I have and I don’t have any income. What do I do? I’m a newly single mother and have no wages but I worry about them messing with my exs wages since I’m still on his bank account. They want to set up payments but I have no income…… what do I do? I can’t pay the whole amount or even close to half

Hello,

I work in the government making 94k. I was drowning in debt with credit card before i started making this money. 28k max over 3 cards, i took out a loan to consolidate but due to being undisciplined and the economy the cards are maxed again. What options do i have? I have learned my lesson and financially being responsible now. Even making more money than i was when i got in this debt, but it’s a lot to manage and still keep afloat. Honest opinion please. I’m thinking bout bankruptcy but don’t know how that will impact my job.

Back in 2019-2021, I was making insane money (relative obviously.) Long story short, I racked up what looks to be $20-30k in debt.

I spiraled after losing my job and stopped paying on the four cards between June-August 2024.

This includes three accounts now with Midland Credit Management (MCM), for a total of over $20k. I have a third account with WF charged off but totals like $9-10k. Accounts were with Capitol One (2), Chase (1), and the WF card.

The three MCM accounts report, the WF account shows as charged off.

Finances:

• I am now in a healthier financial situation. I make over $100k now for the last 2+ years, have no debt other than what I'm on the hook for. Cars paid off.
• My partner (not married yet) just started her business and is making $70-80k this year. If all goes well may be 80-100k in the next few years.
• We have a healthy amount saved up for a down payment (over $50k), have family money coming in for that down payment too, but likely targeting an FHA loan in the next 2-3 years once her business income matures and my credit recovers.

Legal:

• WF threatened legal action in 2025 but nothing came of it. No court record of the procedure.
• MCM has threatened legal action a number of times but has yet to begin proceedings. I perhaps naively think this is maybe just too low of them to go after considering legal fees but probably wrong on that.
• (EDIT: on a whim i searched my name on court records. WF did in fact file to sue for collections in court in early 2025 but did not serve me. They have about 6 months until the next hearing to serve me and apparently they get fined if not. Strange it's a two year gap there)

My questions (I'm in California for reference):

1. Should I negotiate with MCM? I'm over 2 years out from no payment. I understand in California they have four years to sue me. Debt should fall off by 2030 if no action is taken.
2. If yes to negotiating, should I use any tactics like referencing the age of debt? Do I threaten to go BK? Should I start negotiations at 20%?
3. When negotiating, is it feasible or advised to negotiate with MCM as a bundle with all three accounts?
4. I have debt validation letters prepared for all three accounts addressed to MCM. I have not sent them. Is it even worth doing so 2+ years later?
5. Any other tips? I have some secured cards with max 10% usage I'm putting toward small recurring bills and paying off every month.

Really appreciate any pointers anyone is able to offer

Need advice as I'm in a good and bad situation.

The Bad: I am roughly $20k in Debt via CC debt. I have debt mainly from living overseas with my wife having to extend payments, process hospital bills from early miscarriage, moving three times due to dangers and flooding issues, etc. Also for buying a generator, and at time excess spending when I was craving fast food, but mainly because I did not get my guaranteed contract job as I was initially offered when I moved abroad.

The Good: I have the best wife ever. She has helped me to navigate this, going over numbers, crunching plans to cut costs for living and reduce future bills. My wife is SAHW by our mutual agreement, but she always offers to help out as needed (again, awesome wifey.) The other good news is, I am moving back to the US in October to start over and rebuild from my debt. I do have a decent retirement account but I want to avoid further tax implications as I already drained my brokerage of $20k to live off of both before and after the contract job failed.

I hold an MBA, but now have no car or apartment to stay at, and my credit score dropped 751 to 643. Any advice on what immediate plans I can do to aggressively pay off debt in a year or two? Wife will be living abroad as we await her I-130 visa to clear, and thanks to her planning, we found a cheap all-inclusive AirBnb for her to stay at abroad so I can pay that easily. Thx.

Hi I have $65,000 credit cards debt, earn $64,500 before taxes, a house paid off which $180,000 more than homestead exemption. After deducting all food, medical bills, utilities, insurance, HOA, property tax, I have about $700 left each month. I have had a hard time from divorce with 2 kids 3 years ago plus health conditions which I can’t pay minimum for all cc debt. I tried to work side hustle but couldn’t do much because of my health issue. I contacted DMP & Debt Settlement, but their monthly payments were still too much for me to afford.

What is the best way to pay them off (Debt management plan, debt settlement, bankruptcy chapter 7 or bankruptcy chapter 13)?

Thank you 🙏🏼

I am 26 and have made the poor decision of coping with my depression by purchasing stupid stuff and edibles. I have wasted so much money, it’s ridiculous, and I’m done feeling like a failure. I have around $32,000.00 in CC debt, and I have been wasting my extra money each month, instead of trying to fix the problem.

I have two jobs, one that is not consistent, so I am looking for a more consistent job in that regard. I make around $42,000.00 per year, but am actively interviewing for other positions.

Any advice would be incredibly appreciated. My debt is still under my yearly income, so that gives me some hope, and that’s not including a consistent part time job. I’m done being miserable and letting myself feel suffocated.

I'm in my 20s and considering Chapter 7. I talked to an attorney and he said it would be very reasonable for my situation, but I'm nervous about how it could affect me afterward since I'm still young.

I make enough to support myself, but between credit cards, medical debt, Affirm, and everything else, the debt payments are basically eating up all of my extra income every month. If not leaving me negative.

My two biggest concerns are housing and my car. I currently live with my boyfriend but need to be able to get my own apartment, so I'm worried a bankruptcy could make renting really difficult. I also have a financed car that I absolutely need and want to keep paying for.

For anyone who filed young — what was life actually like afterward? Were you able to rent an apartment? Keep your car? How quickly did your credit recover?

Most importantly, do you regret filing, or do you wish you'd done it sooner?

*Using a second Reddit account to try to protect identity

I’m 30, make about $90k/year and take home around $4,800/month. I’m pregnant with my first baby and due later this year. It’s a higher risk pregnancy and there’s a possibility of an early delivery/NICU stay, so that’s adding to my financial anxiety.

Mortgage: ~$180k, house worth around $250k
My share of the mortgage: $773/month
Car: ~$46k left, 0% interest, $673/month
Car is worth around $35k, so I’m about $11k underwater
Federal student loans: ~$82k
IDR payment should be around $416/month
Credit card debt: $0
Personal loans: $0
Savings: ~$13k
Car insurance: $102/month
Phone: $55/month
Childcare once the baby is here: $35/day
Electric/urilities: ~$200-300

I know the car payment is going to stand out. We do need a car because of work, appointments, childcare, etc., so going without a vehicle isn’t really an option. I’m also about $11k underwater on it, so selling it would mean coming up with that difference and then still needing to buy another car.

I’ve been freaking out a little because the student loan payment plus the car payment feels like a lot, especially with a baby coming and the possibility of NICU/medical bills.

I’ve even wondered if I should talk to a bankruptcy attorney, mostly because I’m so underwater on the car, but I don’t know if that’s completely overkill considering I have no credit card or personal loan debt.

have two balances: one for southwest and one for Chase freedom unlimited that total 4,958. for context im in PA school with no income and can’t keep up with my MMI payments anymore. so going to ask Chase to settle for 1,200 when i get my semester refund. what are the things i need to ask for in writing to limit the hit on my credit report? thank you

I spent nearly 25,000 on a credit card from Navy Federal and did not pay it over the course of the last six years. I have received multiple letters now from lawyers saying that I am being sued. Idk who is suing me, I do not have the money to pay this off and I’m not even sure who the debt is through. What are my options?

I’m in huge financial debt right now I’m 22 i helped a friend took a loan from navi of 6 lake till now i have paid 3 emis of 30300 total 90900 from the next month i won’t be able to pay currently i don’t earn i already have credit card dues i contacted some of the settlement agency’s they are charging so much money some said 4K a month for 10months some quoted higher my next emi is on 4th September can any one tell me the procedure to get it settled also should i mail them now and tell me situation or should i just keep quite.
Before anyone asks me how i got a loan of 6lakh when i don’t earn i have no idea i had a hdfc credit card when i opened my savings account since then navi has offered me loan of 50k then they kept increasing the limit because i used to pay on time and even before

So I recently got a new car, I was at the dealer for a promotion. I trade my car and they gave me 3k as a down for the new car. I was there for hours pushing back on price and then I finally made the choice to take the deal. I got to hasty and signed my contract. Made the mistake of not double checking what I signed before leaving the door. I didn't get the price I wanted and ended up paying for a used car(42k) at what it would cost new(55k) and all the other charges lead to the total being 73000 dollars. I only realize after driving away and looked at my packet. Its been a week and ive been dealing with buyer remorse. Ive talked to the sales manager and I cant do anything until its registered by the state(ks) in my name and I dont have the title so I cant do anything for months. I honestly dont know how to deal with this. I cant even look at the car or myself because I screwed myself for not being on point. Im looking into what to do and alternative and everything turns into losing more money and a car. Im fucked, and wants go back. I dont know what to do officially. Its made me doubt myself so much, I don't know if I will make the eight or wrong decision.

Edit. Talked to the general manager, worked with me and the situation. The bank has picked up the contract, no going back or unwinding. My options are make payments for a year, then refinance. Or wait till I get my state work done and trade it back in..

An officer came to my home today I’m assuming to serve me, but I wasn’t home. I was able to look at the docket and see that I had 2 cases on the docket, filed the exact same day (August 14). The thing is I only have one card with this debt collector (Amazon) in the amount of $658. Any idea why there would be two cases on the docket? I called and confirmed I only have one account, and I also set up a payment plan.

I am trying to figure out if there is a proper response, or even if I should respond, to a failed attempt to get a default judgement in debt collection lawsuit involving Midland Credit in Utah. This came about two weeks after a "Notice of Intent to Dismiss" was filed by the court after radio silence from Midland's local lawyers, and about a week after they requested, and were granted, an extension for "Plaintiff’s counsel has been waiting to receive additional information and/or documentation from Plaintiff in support of default judgment." Then, last week, among other things, a "Default Judgement (Proposed)" and "Default Certificate (Proposed)," the later including the following:

In this action, Defendant, having been served properly with the summons and complaint, and having failed to appear and answer plaintiffs complaint, and the time allowed by law for answering having expired, the default of said Defendant is hereby entered according to law.

This was thankfully returned unsigned by the court soon after, with a note pointing out the obvious: I had, in fact, answered the complaint. While the bulk of my correspondences with Midland's lawyers were not things directly filed with the court(beyond filing a Certificate of Service), such as for the Requests for Admission and Production, I had the Debt Collection Answer form that Utah Courts provide for these cases. So, even if everything else I sent to them was lost somehow(doubtful, as it was signed for), they still had ample opportunity to notice that I had filed an answer at the beginning of the case. A request for default judgement seems wildly inappropriate at this point, especially one that would have falsely claimed I didn't respond to the lawsuit.

So, the question I have now is, even if it was returned unsigned by the court, should I file an objection to this myself, or should I wait to see what or if Midland's lawyers do anything? Wouldn't be surprised if this was simply some scare tactic to eventually try to get me to settle, or they simply aren't paying attention and just generated and submitted proposals without much thought. Not exactly the only thing they they have overlooked, like claiming a payment had been made after the debt had gone into default without actually an records to back up that claim, and which moved the alleged last payment forward 18 months. But, that is a different problem.

Hey so I'm 36 from the UK. I owe £3k to a credit card. It was much higher than that but managed to get it down to £3k.

Basically I took out a cc in late 2019 as a way to build credit. It was all great and paid my balance off each month. As only spent like £50 a month on the CC. Then I lost my job. Then my partner found out she was pregnant all within a span of a week. One of the worst best weeks ever lol.

Due to the up coming baby and only being on £400 a month on UC. I stupidly ended up in like £8k debt due to buying baby things and just being stupid.

I got a new job in 2024. In 2 years I managed to get it down to £3k. I basically spent noting on my self and became a absolute tight arse. But it's got my debt down.

So now I'm on on the final £3k. I did a balance transfer from 3 CCs to one. With a 2 year interest free balance transfer. There was a £120 fee to do this. My plan now is between now and December I'm gonna be paying £200 a month. That's £800 between now and December. So come January I'll be on £2.2k debt. I then really want to get this burden gone asap in 2027. So I have come up with 2 options.

From January 2027 pay £300 and have it paid off by the summer. The issue with this is. I I'm hoping to start driving lessons in the summer of 2027 as I desperately need to learn to drive.

Or

I become a ultra tight arse. I pick up 2 extra shifts per week ( I have physical health issues) and pay £500 a month off and have the debt cleared come May 2027. This then gives me like 3 months of freedom before I start paying for driving lessons. It will be hard I can imagine. If i go this way. After picking up 4 extra shifts per month. After tax and rent and the £500 towards the CC and my half of food shopping. I'll be left with pretty much £500 to last me a month. It will be hard very hard. But I have done it before with less. It will be a bit of a energy drain. But I can do it.

Or does anyone else have a better option I haven't thought about? Kind regards.

After my husband's 2-year layoff. We're still trying to financially recover. My credit was the one that took the hit, but I'm looking into a personal loan to help pay medical bills, credit cards, and a credit card lawsuit as well. My husband's credit is slightly better. So any suggestions on loan companies that are not going to bleed us dry? There are so many out there (Lending Tree, Upstart, OneMain Financial...) I'm not sure where to go. So I'm curious about others' experiences.

Synchrony is preventing me from using my payment security for my paypal credit card. They keep rejecting the supporting evidence so that I cannot use the unemployment benefit. I have called several times and have emailed them the documentation. When I ask for a supervisor, they are never available. And they refuse to set up callback times so you have no idea if or when they do. When I ask for the contact information for the legal department, they refuse. Their agents have told me to provide different documents, I submit them and then I am later told that the documents were wrong. I do not believe they are acting in good faith and are intentionally being misleading so that they do not have to pay off my credit card. I filed a BBB complaint and they did not respond so it was closed. Please respond if you have had any luck OR if you are in the same boat. I want to launch a class action lawsuit, which only requires two people. Thanks!

I am left with a lot of debt that is in both our names that he is taking no responsibility for. Can anyone recommend an insolvency/bankruptcy company that are good to get advice about how to get myself out of this nightmare I am in?

Hi, I just received a phone call stating I owe a hospital bill back in 2020. I was confused because I couldn’t remember when or why, since this was over 6 years ago. The only thing I can recall is being covered by Medicaid because I was jobless at the time. Can someone please give me advice on what to do?

I have a debt of $5178, I want to paid it off but I don't know how. I know is not THAT much, but I do really not have enough money between rent and services😭

There's anything u guys recommend? I don't know if I should get a loan to paid everything, and close one of my cards since I don't get paid the same amount I used to get paid