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sheishollywood · Nov 6th, 2009, 02:38 PM

So I made a fairly big step today... a little while ago I also posted about my parent's situation. My mom has all the burden of having the debt and all the financial's in her name because my father is self-employed. Well long story short, a few things happened in the family, my dad couldn't handle it and along with just bad economic times, he just started to distance himself. To me, I think it's cowardly. That's great that you are upset and/or hurt but my mom STILL has to live with this and the fact that you make her do it on her own is disgusting to me. He's gotten better in the last couple of years but it still has been hurting me because he doesn't like to talk or even LOOK at the situation.

So today, I spoke with a non-profit credit counselling service in my city. My mom has my dad's business debt and their own personal debt combined (about $75,000). My mom is in her 50's and was laid off a few years ago but got a very nice severance package that is in her retirement fund and will NOT be touched until she retires. But I want to get my mom out of debt asap... because it will eventually hurt her and she will not be able to retire. She does work right now but her salary is not nearly what it use to be. When I talked to this non-profit credit counselling service which is accredited BBB member and a member of the credit counselling of Canada -- they said they could help my mom by putting her in a plan. Although it will put a "R7" note in her credit score, it will only last for the next 6 years max. And say she's able to pay it off within 2 years, it will only stay on her credit for an additional 2 years. To me that doesn't seem so bad -- because we live in a house that is already paid for. The cars are paid for... everything is paid for except for this large amount of debt that my mom has to carry.

Has anyone else talked to a non-profit credit service? what are your thoughts?

roxies_mom · Nov 6th, 2009, 02:53 PM

Originally Posted by sheishollywood

So I made a fairly big step today... a little while ago I also posted about my parent's situation. My mom has all the burden of having the debt and all the financial's in her name because my father is self-employed. Well long story short, a few things happened in the family, my dad couldn't handle it and along with just bad economic times, he just started to distance himself. To me, I think it's cowardly. That's great that you are upset and/or hurt but my mom STILL has to live with this and the fact that you make her do it on her own is disgusting to me. He's gotten better in the last couple of years but it still has been hurting me because he doesn't like to talk or even LOOK at the situation.

So today, I spoke with a non-profit credit counselling service in my city. My mom has my dad's business debt and their own personal debt combined (about $75,000). My mom is in her 50's and was laid off a few years ago but got a very nice severance package that is in her retirement fund and will NOT be touched until she retires. But I want to get my mom out of debt asap... because it will eventually hurt her and she will not be able to retire. She does work right now but her salary is not nearly what it use to be. When I talked to this non-profit credit counselling service which is accredited BBB member and a member of the credit counselling of Canada -- they said they could help my mom by putting her in a plan. Although it will put a "R7" note in her credit score, it will only last for the next 6 years max. And say she's able to pay it off within 2 years, it will only stay on her credit for an additional 2 years. To me that doesn't seem so bad -- because we live in a house that is already paid for. The cars are paid for... everything is paid for except for this large amount of debt that my mom has to carry.

Has anyone else talked to a non-profit credit service? what are your thoughts?

Hi! I'm a lurker here and just read your post.........when I was in my late 20's I participated in a Credit Counseling (Counsumer Credit Counseling - through the feds or state, don't remember which) program. It negotiated my payments/interest and reduced my monthly payments so they were managable. I made a payment to them every 2 weeks. I had a car payment (which they didn't touch) and rent at the time and they gave me a budget that I was able to manage. I was out of debt in no time, and when I made my final payment to the plan, I was in contract for my first home.....it didn't appear to hurt my credit rating at all, I guess because the lenders looked at it as being responsible for clearing up and paying off the debt. Hope this info helps..........I wish you and your Mom the best....

dr. twiggers · Nov 6th, 2009, 03:03 PM

Cooney: I probably wouldn't pay for the upgrade because I can't even fill up a 120 GB hard drive. I'd probably take the $50 and put it towards buying an external hard drive for backing up. Macs make it sooooooo incredibly easy to back up!

.:Sprigged:. · Nov 6th, 2009, 03:25 PM

^Warning! A slew of time capsules have been failing, at the 19th month (right now for the first wave). Be careful! I was verrry close to buying one.

nauticalstar · Nov 6th, 2009, 06:04 PM

If it were me, I wouldn't spend the money on a time capsule. I have a regular old external hard drive and its ridiculously easy to back up my computer with it. My boss loves his time capsule because he backs up at the same time every day- but I don't think the average person really needs that. I back up every time I load new pictures, or once a week, whichever comes first. I just write a note in my planner to remind myself.

lorihmatthews · Nov 6th, 2009, 10:18 PM

Well ... still no job, the company that I interviewed for over a week ago that said they were going to make a decision the next day has not made a decision yet.

My extended unemployment claim, which was supposed to start up two weeks ago, has an error on it (which I talked to them about when I started my first claim in May and apparently it's still in their system). So I was expecting a check this week to help cover rent and no check was cut. I tried to call the unemployment office all day (I must have tried a dozen times) and never got through. I just sent an email and I'm sending a letter tomorrow too to try and get this fixed quickly. In the meantime I'm going to have to pull money from other places to cover the rent check I wrote and then pay myself back after this mess gets straightened out.

I did get some pennies from heaven, though. I have wanted to get TiVo for a long time (have Comcast DVR now and I hate it). I used to have it but decided to try Comcast's DVR and have regretted it ever since. As it turns out I have a boatload of points on my Best Buy account. I converted the points to gift certificates and they're worth $120! Plus I have a $50 off coupon and I think they're stackable. Now I can finally get my TiVo back!

dr. twiggers · Nov 6th, 2009, 11:51 PM

I use time machine on my computer, but didn't want to pay so much for a time capsule. A regular external hard drive works just fine....and I have mine set to back up every couple hours when it is plugged in.

dcooney4 · Nov 7th, 2009, 04:12 AM

I finally ordered my mac. I didn't order a backup hard drive yet .I need to save a bit more money for that. I won't be putting to much on it in the beginning just learning how to use it. If it really is as easy as everyone says then I will get it sooner. I'm very excited and thankful for all your help. I feel like a little kid at christmas. Now back to saving.

dr. twiggers · Nov 7th, 2009, 07:47 AM

YAY Cooney!!!!! You're going to LOVE it :-)

dr. twiggers · Nov 7th, 2009, 05:37 PM

hollywood: I don't have any experiences with those services, but if this is something that will help your Mom, then kudos to you for helping her!!!

Our renter deposited another $400. She's still $550 short. Looks like she is just going to nickel & dime us again (similar thing happened 2 months ago).

dcooney4 · Nov 8th, 2009, 05:40 AM

Have you decided what you are going to do about the renter. People like that have no class. I hope it works out for you soon.

dr. twiggers · Nov 8th, 2009, 07:38 AM

Well, it's either put up with her or lose the house. So, unfortunately we just have to deal with it. It just generally sucks!

windycityaj · Nov 8th, 2009, 10:02 AM

Twiggers: UGH.....I know you have to put up with tthis but in general it's just so stressful. Let's hope she coughs up the rest of the rent.

lori: Sending you positive vibes for the job. Any idea on when they will let u know?

Nothing new with me this weekend. The weather here in Chicago is absolutely gorgeous...scary gorgeous because you know what's coming down the pipe.....lol.

I was passing by one of out local shoe boutiques and saw that they were having a sale on summer shoes. I tried to resist but couldn't. I got a great pair of sandals for next year..orginal price: $124....my price $20. What a crazy deal!!

Anne

Allisonfaye · Nov 8th, 2009, 10:38 AM

Ahhh, Anne. YOu believe in the Weather Karma Gods. I always tease my Chicago friends about this. For those of you who are not from Chicago, most Chicagoans believe that for any nice weather we get, we will later pay the price with awful weather. I think that is hilarious.

I just dodged a bullet with my Chase account. I made my payment on Friday via online bill pay. Since it is a Chase account to a Chase account, it says the payment will go the same day. Well, it didn't post and the payment is due today, on a Sunday. It won't post until tomorrow. It is on a teaser rate of 4.99%, so I can't be one minute late, obviously. I called and they told me how to do it so it will post today. Phew! I wasn't able to cancel the first payment so they get two payments but it is better than the alternative.

windycityaj · Nov 8th, 2009, 11:24 AM

^^^^Oh yes Allsion, I am so all about weather karma!!! I'm susually a super positive person but as you know, most Chicagoans are pessimists when it come to weather. I can never just "sit back and enjoy the ride"....I'm always thinking like "ok, when is the other shoe gonna drop and we'll be buried in snow next week?" It's funny right?

Nov 6th, 2009, 02:38 PM	#1156
sheishollywood INDEPENDENTBYCHOICE Joined: Nov 2006 Location: Vancouver Posts: 3,857	So I made a fairly big step today... a little while ago I also posted about my parent's situation. My mom has all the burden of having the debt and all the financial's in her name because my father is self-employed. Well long story short, a few things happened in the family, my dad couldn't handle it and along with just bad economic times, he just started to distance himself. To me, I think it's cowardly. That's great that you are upset and/or hurt but my mom STILL has to live with this and the fact that you make her do it on her own is disgusting to me. He's gotten better in the last couple of years but it still has been hurting me because he doesn't like to talk or even LOOK at the situation. So today, I spoke with a non-profit credit counselling service in my city. My mom has my dad's business debt and their own personal debt combined (about $75,000). My mom is in her 50's and was laid off a few years ago but got a very nice severance package that is in her retirement fund and will NOT be touched until she retires. But I want to get my mom out of debt asap... because it will eventually hurt her and she will not be able to retire. She does work right now but her salary is not nearly what it use to be. When I talked to this non-profit credit counselling service which is accredited BBB member and a member of the credit counselling of Canada -- they said they could help my mom by putting her in a plan. Although it will put a "R7" note in her credit score, it will only last for the next 6 years max. And say she's able to pay it off within 2 years, it will only stay on her credit for an additional 2 years. To me that doesn't seem so bad -- because we live in a house that is already paid for. The cars are paid for... everything is paid for except for this large amount of debt that my mom has to carry. Has anyone else talked to a non-profit credit service? what are your thoughts?
	__________________ "The best way to predict the future is to invent it"

Nov 6th, 2009, 03:03 PM	#1158
dr. twiggers OP Finally Done! Joined: May 2006 Location: The Library Posts: 21,850	Cooney: I probably wouldn't pay for the upgrade because I can't even fill up a 120 GB hard drive. I'd probably take the $50 and put it towards buying an external hard drive for backing up. Macs make it sooooooo incredibly easy to back up!
	__________________ November Goals: 1. Get credit card to $4500 (or less) - done! 2. Add $500 to emergency fund - added $600! 3. Add $500 to vacation fund - done! 4. Stay under grocery budget - not going so well

Nov 6th, 2009, 03:25 PM	#1159
.:Sprigged:. I heart ny Joined: Apr 2006 Location: 1785 Posts: 674	^Warning! A slew of time capsules have been failing, at the 19th month (right now for the first wave). Be careful! I was verrry close to buying one.
	__________________

Nov 6th, 2009, 06:04 PM	#1160
nauticalstar Member Joined: Jun 2007 Posts: 1,596	If it were me, I wouldn't spend the money on a time capsule. I have a regular old external hard drive and its ridiculously easy to back up my computer with it. My boss loves his time capsule because he backs up at the same time every day- but I don't think the average person really needs that. I back up every time I load new pictures, or once a week, whichever comes first. I just write a note in my planner to remind myself.
nauticalstar Member Joined: Jun 2007 Posts: 1,596

Nov 6th, 2009, 10:18 PM	#1161
lorihmatthews Fall is here! Joined: Oct 2006 Location: San Francisco Posts: 11,036	Well ... still no job, the company that I interviewed for over a week ago that said they were going to make a decision the next day has not made a decision yet. My extended unemployment claim, which was supposed to start up two weeks ago, has an error on it (which I talked to them about when I started my first claim in May and apparently it's still in their system). So I was expecting a check this week to help cover rent and no check was cut. I tried to call the unemployment office all day (I must have tried a dozen times) and never got through. I just sent an email and I'm sending a letter tomorrow too to try and get this fixed quickly. In the meantime I'm going to have to pull money from other places to cover the rent check I wrote and then pay myself back after this mess gets straightened out. I did get some pennies from heaven, though. I have wanted to get TiVo for a long time (have Comcast DVR now and I hate it). I used to have it but decided to try Comcast's DVR and have regretted it ever since. As it turns out I have a boatload of points on my Best Buy account. I converted the points to gift certificates and they're worth $120! Plus I have a $50 off coupon and I think they're stackable. Now I can finally get my TiVo back!
	__________________ My blog: Part-time Fashion for a Full-time Life Twitter: lorihmatthews

Nov 6th, 2009, 11:51 PM	#1162
dr. twiggers OP Finally Done! Joined: May 2006 Location: The Library Posts: 21,850	I use time machine on my computer, but didn't want to pay so much for a time capsule. A regular external hard drive works just fine....and I have mine set to back up every couple hours when it is plugged in.
	__________________ November Goals: 1. Get credit card to $4500 (or less) - done! 2. Add $500 to emergency fund - added $600! 3. Add $500 to vacation fund - done! 4. Stay under grocery budget - not going so well

Nov 7th, 2009, 04:12 AM	#1163
dcooney4 Member Joined: Apr 2007 Posts: 3,256	I finally ordered my mac. I didn't order a backup hard drive yet .I need to save a bit more money for that. I won't be putting to much on it in the beginning just learning how to use it. If it really is as easy as everyone says then I will get it sooner. I'm very excited and thankful for all your help. I feel like a little kid at christmas. Now back to saving.
dcooney4 Member Joined: Apr 2007 Posts: 3,256

Nov 7th, 2009, 07:47 AM	#1164
dr. twiggers OP Finally Done! Joined: May 2006 Location: The Library Posts: 21,850	YAY Cooney!!!!! You're going to LOVE it :-)
	__________________ November Goals: 1. Get credit card to $4500 (or less) - done! 2. Add $500 to emergency fund - added $600! 3. Add $500 to vacation fund - done! 4. Stay under grocery budget - not going so well

Nov 7th, 2009, 05:37 PM	#1165
dr. twiggers OP Finally Done! Joined: May 2006 Location: The Library Posts: 21,850	hollywood: I don't have any experiences with those services, but if this is something that will help your Mom, then kudos to you for helping her!!! Our renter deposited another $400. She's still $550 short. Looks like she is just going to nickel & dime us again (similar thing happened 2 months ago).
	__________________ November Goals: 1. Get credit card to $4500 (or less) - done! 2. Add $500 to emergency fund - added $600! 3. Add $500 to vacation fund - done! 4. Stay under grocery budget - not going so well

Nov 8th, 2009, 05:40 AM	#1166
dcooney4 Member Joined: Apr 2007 Posts: 3,256	Have you decided what you are going to do about the renter. People like that have no class. I hope it works out for you soon.
dcooney4 Member Joined: Apr 2007 Posts: 3,256

Nov 8th, 2009, 07:38 AM	#1167
dr. twiggers OP Finally Done! Joined: May 2006 Location: The Library Posts: 21,850	Well, it's either put up with her or lose the house. So, unfortunately we just have to deal with it. It just generally sucks!
	__________________ November Goals: 1. Get credit card to $4500 (or less) - done! 2. Add $500 to emergency fund - added $600! 3. Add $500 to vacation fund - done! 4. Stay under grocery budget - not going so well

Nov 8th, 2009, 10:02 AM	#1168
windycityaj Member Joined: Jan 2006 Location: Chicago, IL Posts: 4,410	Twiggers: UGH.....I know you have to put up with tthis but in general it's just so stressful. Let's hope she coughs up the rest of the rent. lori: Sending you positive vibes for the job. Any idea on when they will let u know? Nothing new with me this weekend. The weather here in Chicago is absolutely gorgeous...scary gorgeous because you know what's coming down the pipe.....lol. I was passing by one of out local shoe boutiques and saw that they were having a sale on summer shoes. I tried to resist but couldn't. I got a great pair of sandals for next year..orginal price: $124....my price $20. What a crazy deal!! Anne
	__________________ Moving ever so slowly towards being "debt free"!!!

Nov 8th, 2009, 10:38 AM	#1169
Allisonfaye Member Joined: Oct 2006 Posts: 5,609	Ahhh, Anne. YOu believe in the Weather Karma Gods. I always tease my Chicago friends about this. For those of you who are not from Chicago, most Chicagoans believe that for any nice weather we get, we will later pay the price with awful weather. I think that is hilarious. I just dodged a bullet with my Chase account. I made my payment on Friday via online bill pay. Since it is a Chase account to a Chase account, it says the payment will go the same day. Well, it didn't post and the payment is due today, on a Sunday. It won't post until tomorrow. It is on a teaser rate of 4.99%, so I can't be one minute late, obviously. I called and they told me how to do it so it will post today. Phew! I wasn't able to cancel the first payment so they get two payments but it is better than the alternative.
Allisonfaye Member Joined: Oct 2006 Posts: 5,609	__________________ If you can afford it, for God's sake, BUY SOMETHING!

Nov 8th, 2009, 11:24 AM	#1170
windycityaj Member Joined: Jan 2006 Location: Chicago, IL Posts: 4,410	^^^^Oh yes Allsion, I am so all about weather karma!!! I'm susually a super positive person but as you know, most Chicagoans are pessimists when it come to weather. I can never just "sit back and enjoy the ride"....I'm always thinking like "ok, when is the other shoe gonna drop and we'll be buried in snow next week?" It's funny right?
	__________________ Moving ever so slowly towards being "debt free"!!!

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