Debt Dumpers - 2016

[potterfanatic]

Ugh, on the cost of groceries.

I wanted to give you all a warning on TD Bank's Free Checking. It has a minimum amount of $100 so I put in a little over $100 because I only use it to have a local account. (I cash my checks there for rolls of quarters for my laundry) At one point I went in and got a roll of quarters using the money in my account. The account dipped down to $95 and I went back in a week or two later to deposit the money back to get it above $100. When I checked my account the next month, they had charged me a $15 service fee because it went under the $100. When I called and complained (because I made the deposit the day that they charged the fee) they put the $15 back and told me I was all good, Just "don't let it dip under again." I logged back in today and I have been charged the $15 fee again because after I had deposited it back to $100, they pulled out the $15 making it $75 (then they replaced the $15 BUT because it had been under the $100 at any point in the cycle I was charged the fee.) While I do realize I have some fault in this for letting it dip under $100 ever, I can not believe that I got stuck in this whole cycle. I am closing out my account tomorrow for a completely free account elsewhere, but I wanted to advise anybody that is thinking about getting this checking account.

 

[♥ Mandi ♥]

Hi guys! I'm new - just found this thread!
I just started YNAB yesterday and am determined to pay off my $10k in credit card debt by the end of this year, all while saving saving saving for our November 2018 trip!
I can't wait to go through this thread and jot down some ideas and strategies!

 

[Dentam]

I'm still waiting for my employer to issue our corrected W-2's (they messed up the first ones) so I can file my taxes. I think I finally know what I'm doing with this year's complicated tax filing due to the sale of my house in a different state. It looks like I should be getting about 2k back, which I will use to pay off one cc a month earlier than I'd planned for and to pay a good chunk on the next one on my list!

 

[Kimberly1]

I'm still waiting for my employer to issue our corrected W-2's (they messed up the first ones) so I can file my taxes. I think I finally know what I'm doing with this year's complicated tax filing due to the sale of my house in a different state. It looks like I should be getting about 2k back, which I will use to pay off one cc a month earlier than I'd planned for and to pay a good chunk on the next one on my list!

I plan to split my return between debt and savings.

 

[lilpixiebabe101]

Not truly a debt dump, but I wanted to share the excitement. I posted the other day about a credit card I had to build credit having a limit increase... I got a notice on two sites I use to monitor my credit and my score went up between 40-44 points across the board!!! I was so happy I almost cried. It was 25 more points than we need for the rural development program here! So I called my bank and I'm waiting on pre-approval information! We may actually get out house this year! Yes more debt added on, but so much better than dumping 800$ in rent on nothing tangible every month!

 

[DisneyMandC]

Not truly a debt dump, but I wanted to share the excitement. I posted the other day about a credit card I had to build credit having a limit increase... I got a notice on two sites I use to monitor my credit and my score went up between 40-44 points across the board!!! I was so happy I almost cried. It was 25 more points than we need for the rural development program here! So I called my bank and I'm waiting on pre-approval information! We may actually get out house this year! Yes more debt added on, but so much better than dumping 800$ in rent on nothing tangible every month!

Good luck to you! DH and I bought our house in September. Our credit has jumped 30 points just since making the first 3 mortgage payments! So maybe you'll be doing even better credit-score wise before too long!

 

[Jen and Ashwin]

Not truly a debt dump, but I wanted to share the excitement. I posted the other day about a credit card I had to build credit having a limit increase... I got a notice on two sites I use to monitor my credit and my score went up between 40-44 points across the board!!! I was so happy I almost cried. It was 25 more points than we need for the rural development program here! So I called my bank and I'm waiting on pre-approval information! We may actually get out house this year! Yes more debt added on, but so much better than dumping 800$ in rent on nothing tangible every month!

So exciting that you can see how your hard work is paying off! I hope you get the pre-approval. There really is such a great feeling of coming home to your own house.

 

[Dentam]

Doesn't it just figure that the one year I'm finally getting money back from taxes.... I found out today that it will take another 2-4 weeks for my employer to get us the corrected W-2 forms. I'm just going to file now and then do an amended return once they get these done. The mistake they made on our original W-2's was a small one and shouldn't make a big difference in the amount I'm getting back. Even if I have to pay turbo tax a bit more to do the amended return, at least I'll get the 2k now and get rid of my highest interest rate cc balance this month!

ETA: Just looked it up and it won't cost me anything to amend my return, but I have to print it and mail it in since it can't be e-filed. No biggie - I hope.

 

[Puget Peach]

I'm working feverishly to pay off my last credit card, shore up my emergency fund, save for a down payment, and buy a retirement home near Disney! My credit score is decent, but I had to walk away from a terrible condo situation near Seattle in 2011. It took over three years for the mortgage holder to foreclose (I had been told probably 1 year), so I have to make sure I stay squeaky clean to qualify for a high down payment mortgage next year. I have cut back my Disney visits to extreme budget trips just once a year and the only thing saving my sanity is knowing I will be close by very soon and can visit daily with my Florida Resident Annual Pass once I accomplish all the above.

 

[bigsis1970]

Well a year after getting turned down for a mobile home/personal type loan , we have paid off some debt and raised our credit scores to acceptable for our housing program here only to be told that Hubs debt to income is too high and in order to add me on the loan I need one more line of credit with 12 months of payments .. REALLY .. UGH.. so the plan is taxes, bonus and every spare dollar to pay off hubs 2 CC's by the end of March then wait for it to hit the credit report as Zero balances and re-apply.. we found a perfect brand new double wide in our current mobile home park .. fingers crossed it will work out for us..

 

[gracie1]

Well a year after getting turned down for a mobile home/personal type loan , we have paid off some debt and raised our credit scores to acceptable for our housing program here only to be told that Hubs debt to income is too high and in order to add me on the loan I need one more line of credit with 12 months of payments .. REALLY .. UGH.. so the plan is taxes, bonus and every spare dollar to pay off hubs 2 CC's by the end of March then wait for it to hit the credit report as Zero balances and re-apply.. we found a perfect brand new double wide in our current mobile home park .. fingers crossed it will work out for us..

Yes - the debt to income ratio can mess up getting a loan. Just keep plugging away at paying the cc down and you will get that loan!!

 

[gracie1]

Well I went today and did my taxes - I didn't realize till talking to my cpa that for my identity theft I could've contacted the irs and gotten an identity theft pin in case someone else tried to file taxes under me. I had searched everywhere on their website and didn't see anything. So fingers crossed that my refund goes through! Then after I get it I can contact the irs and get a pin that I can use next year. The only thing I dislike is that you can't file electronically with the pin - but it's better than someone filing under my social!

 

[bcwife76]

So it's my 40th birthday today (eeek!!) and my mom gave me a bottle of Bailey's and a cheque for $400! And I'm going to.......spend it on myself ok well I don't need $400 worth of stuff lol so I'll probably buy some clothes and then put the rest in savings/vacation account. We're expecting $3,000-$4,000 back for our tax refund (can't do our taxes yet, dh hasn't received all his receipts from work and won't til end of February) and of course I'm expecting inheritance so while all that is debt dumping I feel like this birthday money should be spent on ....... me coz honestly, if I'm turning 40 I'm going to need something stronger than Bailey's

 

[Dentam]

Happy Birthday, @bcwife76!! I agree that you should treat yourself!

 

[gracie1]

So it's my 40th birthday today (eeek!!) and my mom gave me a bottle of Bailey's and a cheque for $400! And I'm going to.......spend it on myself ok well I don't need $400 worth of stuff lol so I'll probably buy some clothes and then put the rest in savings/vacation account. We're expecting $3,000-$4,000 back for our tax refund (can't do our taxes yet, dh hasn't received all his receipts from work and won't til end of February) and of course I'm expecting inheritance so while all that is debt dumping I feel like this birthday money should be spent on ....... me coz honestly, if I'm turning 40 I'm going to need something stronger than Bailey's

Happy Birthday!!!!!! I hope you have a great day and enjoy splurging on yourself!!! Maybe a day at the spa for a little pampering..... I'm thinking of doing that on my birthday in March!

 

[stayhomemom77]

Happy Birthday! I agree that you should spend it on yourself! Hope you have a great one.

 

[dayvewc]

Happy Birthday @bcwife76 !!!! I hope you have a good one, and we all need a little pampering every now and then. Go for it, indulge yourself. It's not like you would be adding to your debt, or shorting a payment. Enjoy and have a great time and get some new clothes that you really like.!!

 

[bcwife76]

Thanks everyone! The shopping was a bit of a bust today so I'm going to a different mall next week. And maybe I'll get a mani and/or pedi or a massage, too ;-)

 

[MrsTurnerLovesDisney]

Ok think I'm caught up with everyone now

DH had a bit of a windfall come to us 2 weeks ago...4600$ which we have more or less already spent...but we have been needing a storage shed for sometime and got a huge one and paid it off that was $2700 we had $300 on our credit card for a mommy/daddy trip with out our DD we took last weekend and $900 in a dental bill. Now all major bills are paid off in full thank goodness and most of our tax return which will be completed tonight will be in our emergency fund.

I've already told DH since we are good on bills I want to put $1000 of tax refund into Disney account and leave the rest for other expenses. Here's hoping that works.

 

[gracie1]

Ok think I'm caught up with everyone now

DH had a bit of a windfall come to us 2 weeks ago...4600$ which we have more or less already spent...but we have been needing a storage shed for sometime and got a huge one and paid it off that was $2700 we had $300 on our credit card for a mommy/daddy trip with out our DD we took last weekend and $900 in a dental bill. Now all major bills are paid off in full thank goodness and most of our tax return which will be completed tonight will be in our emergency fund.

I've already told DH since we are good on bills I want to put $1000 of tax refund into Disney account and leave the rest for other expenses. Here's hoping that works.

Sounds like your doing great!! I have been looking at different vacations online. I would like to do something this year - just not sure what.