Debt Dumpers - 2014

[dtr_angel]

Is it possible that you didn't make enough on each paycheck for them to take Federal taxes out?

This is what I was thinking too.

You guys are doing a great job! Sounds like we have all started the new year out right!! Even though we have all had some unexpected expenses hit us, and have even thrown us off budget for a bit, it seems were all determined to make this work! Great job everyone

Can't wait to hear all the debt dumping stories over the weekend (I always look forward to them after payday )

I guess that is the case, I only work 2 days/month. But... my income is going to be added to DH's right and we'll get taxed on that whole amount? I admit I know nothing about tax.

Today is payday! Hopefully I'll have good news to report after I finish on YNAB!

 

[Eureka]

I guess that is the case, I only work 2 days/month. But... my income is going to be added to DH's right and we'll get taxed on that whole amount? I admit I know nothing about tax.

Today is payday! Hopefully I'll have good news to report after I finish on YNAB!

Yes, if you report your income, it will be taxable. Hopefully your DH's withholdings will cover any tax you owe.

 

[SpaceGirl]

Well I thought I didn't have to worry about the Target Credit Card Scam...because with all my spending I never made any purchases from Target this year...until I received an E-Mail from Target yesterday notifying me that my name, address & E-Mail address may have been compromised.

I had a package arrive during the Holidays from Target which was unusual but I had placed an order with Amazon and I guess that one of the suppliers on the order was Target. So thanks to a $4.00 charge going through their system I called and canceled my Amazon Card....this just gets my Blood a Boiling

This also confirms that their On-Line customers are also effected even though they originally said only the in store registers were involved.

So lets be diligent with all those Credit Cards.

 

[SpaceGirl]

We had our appointment this morning with our financial adviser to set up our Roth IRA. We ended up getting life insurance and got that started today as well, so 2 birds with one stone.

Sorry to hear about the Taxes...but you had a really good day yesterday you accomplished two major Goals by establishing your Roth IRA and Life Insurance. Great Job.

 

[gracie1]

Well I thought I didn't have to worry about the Target Credit Card Scam...because with all my spending I never made any purchases from Target this year...until I received an E-Mail from Target yesterday notifying me that my name, address & E-Mail address may have been compromised.

I had a package arrive during the Holidays from Target which was unusual but I had placed an order with Amazon and I guess that one of the suppliers on the order was Target. So thanks to a $4.00 charge going through their system I called and canceled my Amazon Card....this just gets my Blood a Boiling

This also confirms that their On-Line customers are also effected even though they originally said only the in store registers were involved.

So lets be diligent with all those Credit Cards.

I got the email and never opened it until I read what you posted! I had it in my trash box so I was able to retrieve it. I wonder if I should call the credit card company that I used and have a new card sent to me? I would rather just keep an eye on my accounts for any suspicious activity. I have quite a few rewards on my account and do not want to cancel my card and lose them. Maybe I should just apply them to my statement and close it?

 

[SpaceGirl]

The safest thing to do is cancel the card...perhaps they can transfer your rewards to the new card. I originally was just going to have a new card issued the girl at Chase said we should cancel the card and they will issue a new account with all new information. (numbers) Call your company and see what they say about the rewards.

 

[gracie1]

The safest thing to do is cancel the card...perhaps they can transfer your rewards to the new card. I originally was just going to have a new card issued the girl at Chase said we should cancel the card and they will issue a new account with all new information. (numbers) Call your company and see what they say about the rewards.

Did you sign up for the free credit monitoring that their offering? I just did and waiting on my activation code.
I guess I would have to cancel my bank card too, because I have used that in the past to make purchases from there. For some reason I thought it was only people that had shopped in the stores not online. And I thought it was only the actual target credit cards

 

[SpaceGirl]

Did you sign up for the free credit monitoring that their offering? I just did and waiting on my activation code.
I guess I would have to cancel my bank card too, because I have used that in the past to make purchases from there. For some reason I thought it was only people that had shopped in the stores not online. And I thought it was only the actual target credit cards

Yes I thought it was in store only but then if you think about it all the billing should use the same computers so I just don't know and what's worse is I don't think they know either. I think it is way bigger then the first reports. How else would my E-Mail even be involved.

PS No I haven't signed up for the monitoring service yet I wanted the new card to go through first.

 

[gracie1]

Yes I thought it was in store only but then if you think about it all the billing should use the same computers so I just don't know and what's worse is I don't thing they know either. I think it is way bigger then the first reports. How else would my E-Mail even be involved.

PS No I haven't signed up for the monitoring service yet I wanted the new card to go through first.

Wow. Just our luck I think I will keep an eye on my credit card activity since I have some things on there right now. But if they hacked our information, who says their not opening new cards Guess this is why they are offering the free credit report

 

[GAGirlInVA]

May I join in? We are working hard on a few things.

The biggest one is that we have an adoption loan for an adoption that failed. That one totally SUCKS to pay and I admit I write snarky things on the memo lines although it is not the lender's fault. It just makes me feel better.

We've gone to cash envelopes and are chugging along nicely.

 

[SpaceGirl]

Wow. Just our luck I think I will keep an eye on my credit card activity since I have some things on there right now. But if they hacked our information, who says their not opening new cards Guess this is why they are offering the free credit report

I am going to be rotating my AnnualCreditReport three free pulls through out the year every three months to make sure no accounts are opened.

 

[dayvewc]

Yes I thought it was in store only but then if you think about it all the billing should use the same computers so I just don't know and what's worse is I don't thing they know either. I think it is way bigger then the first reports. How else would my E-Mail even be involved.

PS No I haven't signed up for the monitoring service yet I wanted the new card to go through first.

From everything I heard about it, there were 2 separate incidents with Target. One of them was scamming to get the CC numbers, and that was an online issue only. The other was a hack into the corporate servers to get personal information from their rewards program (which should not include CC's, just name, address, and emails).

It is possible the leak was worse than what's been admitted, and I seldom shop at Target so I haven't been following closely, but ... do what you think best. If you are concerned, the peace of mind you'll get from changing your account info is a lot better than not doing so.

 

[xCourxCorex]

My bank received and processed my final car payment today!!!
She said they have a policy to hold the title for 8 days if the final payment is a personal check but that is just fine with me! No more payments !!!

Now I am trying to figure out my next move... maybe you can help me work through the decision...

*1st priority = Build Emergency fund up additional 6,000. Putting all the "left over" money (now including what used to be my car payment!!) towards this, it should be done no later than May 31st 2014, total $10,000

*Start a savings account for a downpayment on a house/condo. Will begin this once I've reached my Emergency fund goal. Starting June 1st 2014 (hopefully) Year end goal is to have $12,000 by 12/31/14.

The only other debt I have now is my student loan.. current total ~12,950. Monthly payment is set @ $250, break down as follows:
*$109 to subloan 1: 3,460 @ 5.35%
*$71 to subloan 2: 4,714 @ 4.25%
*69 to subloan 3: 4,740 @ 3.15%

I realized the other day I had stashed away $2000 earmarking it for future home necessities (furniture, etc). I'm now wondering if I should just throw it all at the student loans?? That would immediately bring me down to just under $11k, and my monthly payments should get me down to $8,500 by the end of December.

Thoughts on using the $2000 towards student loan?? Part of me thinks HECK YES get it down as much as possible. I would put it all towards the smallest one, leaving about $1500 plus the larger two. Once the smallest is paid I would re-adjust the monthly payment and split it $125 to each of the remaining loans. But the other part of me is saying no just keep that money in the bank! When it is time to buy a house, that will already be tucked away and it'll help buy furniture, stock the cabinets, buy paint..whatever! There's tons of expenses that go along with buying a house, and to have even just that small amount would be a little less stress on me when that time comes..
Any guidance ??

 

[PrincessKymm]

My bank received and processed my final car payment today!!! She said they have a policy to hold the title for 8 days if the final payment is a personal check but that is just fine with me! No more payments !!! Now I am trying to figure out my next move... maybe you can help me work through the decision... *1st priority = Build Emergency fund up additional 6,000. Putting all the "left over" money (now including what used to be my car payment!!) towards this, it should be done no later than May 31st 2014, total $10,000 *Start a savings account for a downpayment on a house/condo. Will begin this once I've reached my Emergency fund goal. Starting June 1st 2014 (hopefully) Year end goal is to have $12,000 by 12/31/14. The only other debt I have now is my student loan.. current total ~12,950. Monthly payment is set @ $250, break down as follows: *$109 to subloan 1: 3,460 @ 5.35% *$71 to subloan 2: 4,714 @ 4.25% *69 to subloan 3: 4,740 @ 3.15% I realized the other day I had stashed away $2000 earmarking it for future home necessities (furniture, etc). I'm now wondering if I should just throw it all at the student loans?? That would immediately bring me down to just under $11k, and my monthly payments should get me down to $8,500 by the end of December. Thoughts on using the $2000 towards student loan?? Part of me thinks HECK YES get it down as much as possible. I would put it all towards the smallest one, leaving about $1500 plus the larger two. Once the smallest is paid I would re-adjust the monthly payment and split it $125 to each of the remaining loans. But the other part of me is saying no just keep that money in the bank! When it is time to buy a house, that will already be tucked away and it'll help buy furniture, stock the cabinets, buy paint..whatever! There's tons of expenses that go along with buying a house, and to have even just that small amount would be a little less stress on me when that time comes.. Any guidance ??

My advice is to look at your timeline. Are you buying a house within a year? Don't spend that money. Are you looking to get rid of your loans before you buy a house? Yes throw that money T it.

Speaking from experience, you don't HAVE to run out and do anything to a house unless it's not habitable. My first house with my ex we spent a lot of money on stuff that we could have dealt with later on. I live in my DBF's house now and when we moved in over a year ago, we did next to nothing. I'm still living with awful paint colors and not so plush carpeting, and all that. We fix what needs to be fixed and we enjoy our home. Although our off white walls against a white chair rail in our bedroom bothers me like you can't believe. I am picking out paint colors slowly and carefully and will paint when it warms up. You will have plenty of time to paint in a house you own.

 

[gracie1]

May I join in? We are working hard on a few things.

The biggest one is that we have an adoption loan for an adoption that failed. That one totally SUCKS to pay and I admit I write snarky things on the memo lines although it is not the lender's fault. It just makes me feel better.

We've gone to cash envelopes and are chugging along nicely.

Of course you can join!! So sorry to hear about the adoption falling through

Sounds like you have your plan and budget in place

 

[dtr_angel]

My bank received and processed my final car payment today!!!
She said they have a policy to hold the title for 8 days if the final payment is a personal check but that is just fine with me! No more payments !!!

Now I am trying to figure out my next move... maybe you can help me work through the decision...

*1st priority = Build Emergency fund up additional 6,000. Putting all the "left over" money (now including what used to be my car payment!!) towards this, it should be done no later than May 31st 2014, total $10,000

*Start a savings account for a downpayment on a house/condo. Will begin this once I've reached my Emergency fund goal. Starting June 1st 2014 (hopefully) Year end goal is to have $12,000 by 12/31/14.

The only other debt I have now is my student loan.. current total ~12,950. Monthly payment is set @ $250, break down as follows:
*$109 to subloan 1: 3,460 @ 5.35%
*$71 to subloan 2: 4,714 @ 4.25%
*69 to subloan 3: 4,740 @ 3.15%

I realized the other day I had stashed away $2000 earmarking it for future home necessities (furniture, etc). I'm now wondering if I should just throw it all at the student loans?? That would immediately bring me down to just under $11k, and my monthly payments should get me down to $8,500 by the end of December.

Thoughts on using the $2000 towards student loan?? Part of me thinks HECK YES get it down as much as possible. I would put it all towards the smallest one, leaving about $1500 plus the larger two. Once the smallest is paid I would re-adjust the monthly payment and split it $125 to each of the remaining loans. But the other part of me is saying no just keep that money in the bank! When it is time to buy a house, that will already be tucked away and it'll help buy furniture, stock the cabinets, buy paint..whatever! There's tons of expenses that go along with buying a house, and to have even just that small amount would be a little less stress on me when that time comes..
Any guidance ??

I'm no expert or anything, but this is what I would do if it were me in your shoes. Like the PP said, unless you are going to be buying a house within a year, I wouldn't have $$ set aside for furniture. I would put it towards your $6000 goal of the emergency fund, so now you only need $4000 to reach your goal and you can reach it sooner than your anticipated date of 5/31 (my wedding anniversary btw!)

 

[xCourxCorex]

PrincessKymm - good point. It would likely not be for another year and a half (or more) that I look to buy. You bring up a good point, the house may not need much. I think I like the idea of a bit of a "safety net" that isn't my designated emergency fund. Maybe 50/50 would be a better decision..

Obviously it'd be great to have no debt at all before purchasing, however I don't want to continue to delay saving for the house. Yes I could dump everything I have into the loans and they'd be gone by the end of the year but with zero for the house, then it's like starting at square one again next year. Although I would have the added $250 a month freed up, I am comfortable paying that monthly amount for another few years.

 

[ruadisneyfan2]

Yes I thought it was in store only but then if you think about it all the billing should use the same computers so I just don't know and what's worse is I don't thing they know either. I think it is way bigger then the first reports. How else would my E-Mail even be involved.

PS No I haven't signed up for the monitoring service yet I wanted the new card to go through first.

I agree. I got the email too and honestly don't recall when/if I ever bought anything online at Target or even via Amazon. I wouldn't even know which card to cancel. Also couldn't you just report your card lost if you don't want to lose rewards?
The whole thing is just awful. Like people have nothing better to do than just add more crap to our To Do list.

May I join in? We are working hard on a few things.

The biggest one is that we have an adoption loan for an adoption that failed. That one totally SUCKS to pay and I admit I write snarky things on the memo lines although it is not the lender's fault. It just makes me feel better.

We've gone to cash envelopes and are chugging along nicely.

This is heartbreaking but I have to say I couldn't help but laugh over the snarky comment thing.

My bank received and processed my final car payment today!!!
She said they have a policy to hold the title for 8 days if the final payment is a personal check but that is just fine with me! No more payments !!!

Now I am trying to figure out my next move... maybe you can help me work through the decision...

*1st priority = Build Emergency fund up additional 6,000. Putting all the "left over" money (now including what used to be my car payment!!) towards this, it should be done no later than May 31st 2014, total $10,000

*Start a savings account for a downpayment on a house/condo. Will begin this once I've reached my Emergency fund goal. Starting June 1st 2014 (hopefully) Year end goal is to have $12,000 by 12/31/14.

The only other debt I have now is my student loan.. current total ~12,950. Monthly payment is set @ $250, break down as follows:
*$109 to subloan 1: 3,460 @ 5.35%
*$71 to subloan 2: 4,714 @ 4.25%
*69 to subloan 3: 4,740 @ 3.15%

I realized the other day I had stashed away $2000 earmarking it for future home necessities (furniture, etc). I'm now wondering if I should just throw it all at the student loans?? That would immediately bring me down to just under $11k, and my monthly payments should get me down to $8,500 by the end of December.

Thoughts on using the $2000 towards student loan?? Part of me thinks HECK YES get it down as much as possible. I would put it all towards the smallest one, leaving about $1500 plus the larger two. Once the smallest is paid I would re-adjust the monthly payment and split it $125 to each of the remaining loans. But the other part of me is saying no just keep that money in the bank! When it is time to buy a house, that will already be tucked away and it'll help buy furniture, stock the cabinets, buy paint..whatever! There's tons of expenses that go along with buying a house, and to have even just that small amount would be a little less stress on me when that time comes..
Any guidance ??

That's if your bank even still has the title. When we paid off my minivan, Chase said they didn't have the title, don't know if they ever did.
Blah, blah, blah... "All states have different rules.... more blah, blah, blah..."
I was freaking out since God only knows where it got to and I never had that happen before. I'm no spring chicken and have paid off several vehicles between me & dh over the years so I'm way too familiar with how it should work. It's not that the loan was ever transferred from another bank. It was so frustrating to have to send the "no lien" letter from Chase to NJ DMV and pay like $60 for a duplicate title.

 

[SpaceGirl]

I agree. I got the email too and honestly don't recall when/if I ever bought anything online at Target or even via Amazon. I wouldn't even know which card to cancel. Also couldn't you just report your card lost if you don't want to lose rewards?
The whole thing is just awful. Like people have nothing better to do than just add more crap to our To Do list.

Well in my case I remembered the one little package from Target with the Lip Balm so I knew it was from the Amazon order, it was the ESO and I had never ordered it before. I actually found the receipt on the order.

When I called Chase (they issued the Amazon Card) I told them up front why I was calling TARGET SCAM while I hate having to get a new card, the card I had didn't expire until the end of 2016 technically if the scammers had the info they could just wait until 2016 to try and use it. That's way to long to monitor a credit card and the service that target is offering is only for a year. So the expiration dates was another reason I had the new card issued.

 

[GAGirlInVA]

Of course you can join!! So sorry to hear about the adoption falling through

Sounds like you have your plan and budget in place

Thanks. It happened in 2011 and we've just been a bit lazy about paying it. It has a VERY low interest rate but it's just emotional baggage, ya know?

This is heartbreaking but I have to say I couldn't help but laugh over the snarky comment thing.

Glad to provide someone other than me with a laugh.

We are hoping to start another adoption in 2015... just want some of these things paid off before we go down that path again!