Debt Dumpers 2024

[ruadisneyfan2]

there's recording fees to the clerk's office but in NJ there's a realty transfer tax. can vary but typically 1% f rice

Are There Any Partial Exemptions to Realty Transfer Fees?
Yes. Property marked as low or moderate income, people with almost total or complete vision impairment, people with disability receive a partial exemption of the RTF. Senior citizens who are 62 or older and live on the property at least three months out of the year without renting out the property also qualify.

Copied from this page.
https://chamlinlaw.com/blog/key-information-about-the-realty-transfer-fee-in-nj/

Hopefully they have a similar exemption in Oklahoma.

 

[amalone1013]

Me too!
It’s our Garth concert! I can’t wait. He only knows we’re going away for our anniversary but doesn’t know where. When I told him it’s not a cruise, or a Caribbean island, and has nothing to do with Disney, he was totally stumped.

I’m so looking forward to seeing the look on his face. I guess when we check in at the airport, he’ll know we’re flying to Vegas.
I’m trying to think of a good way to surprise him with the tickets. We’re not big Vegas people so he’ll know right away it’s some kind of show.
Maybe I’ll just point to the sign outside Caesar’s Palace.

Weather is looking gorgeous. Our first full day will be 95 and of course low humidity.
That’s our chillin’ by the pool day.

I just bought Garth tickets for Feb as a surprise for my DH. I think I will tell him for Christmas since we'll have to arrange childcare. But I think I am going to order a laser engraved ticket off of etsy to wrap, like this one
https://www.etsy.com/listing/1443357200/personalized-2023-concert-ticket

 

[Tygerlilly]

Me too!
It’s our Garth concert! I can’t wait. He only knows we’re going away for our anniversary but doesn’t know where. When I told him it’s not a cruise, or a Caribbean island, and has nothing to do with Disney, he was totally stumped.

I’m so looking forward to seeing the look on his face. I guess when we check in at the airport, he’ll know we’re flying to Vegas.
I’m trying to think of a good way to surprise him with the tickets. We’re not big Vegas people so he’ll know right away it’s some kind of show.
Maybe I’ll just point to the sign outside Caesar’s Palace.

Weather is looking gorgeous. Our first full day will be 95 and of course low humidity.
That’s our chillin’ by the pool day.

How fun! We love Garth! We'll be there Monday-Wednesday staying at Resorts World. If you need any tips feel free to send me a message! I'm no expert, but we've been at least 8 times now so I feel like I know some of the ins finally.

 

[WDW_fan_in_TX]

Small end of September update:

I paid off one of my CCs. It was CC 3 (for those keeping up with my latest post in this same section). It had a $700 credit limit, which my highest CL. But I was also paying a $200 annual fee as well as 36% APR. So I paid that off in full (a little over $680) instead of starting an emergency fund. And I reluctantly closed the account.

I'll just have to pray that nothing needs fixing (car or house) between now and when I'm able to build my EF. But it's paid off. Now I just have 2 left (a $300 CL with no fees and a 29% APR and a $500 CL with $50 annual fee and 30% APR). I'll just continue to pay minimum monthly payments on those for now and try and put money towards an EF.

I say I reluctantly closed it because if I'd have kept it open, my credit utilization would've dropped under 50%. That means my credit score would've gone up, which is part of the reason I paid off this card. I'm trying to rebuild my credit score.

 

[AmyAnne]

Small end of September update:

I paid off one of my CCs. It was CC 3 (for those keeping up with my latest post in this same section). It had a $700 credit limit, which my highest CL. But I was also paying a $200 annual fee as well as 36% APR. So I paid that off in full (a little over $680) instead of starting an emergency fund. And I reluctantly closed the account.

I'll just have to pray that nothing needs fixing (car or house) between now and when I'm able to build my EF. But it's paid off. Now I just have 2 left (a $300 CL with no fees and a 29% APR and a $500 CL with $50 annual fee and 30% APR). I'll just continue to pay minimum monthly payments on those for now and try and put money towards an EF.

I say I reluctantly closed it because if I'd have kept it open, my credit utilization would've dropped under 50%. That means my credit score would've gone up, which is part of the reason I paid off this card. I'm trying to rebuild my credit score.

I do not follow this thread consistently, so forgive me if this has been covered already, but have you tried asking the credit card companies for a lower interest rate? From what I understand, they often will--not always, but maybe even more often than not. It can't hurt to try.

 

[WDW_fan_in_TX]

Don't know about the CCs. But I tried with my car. They said I had to pay it down to what it was worth in order to refinance. It was going to cost like $4k to refinance. So I couldn't do that. But now sure how CCs work. I did, though, call and get the credit protections fees removed. So that'll save about $20 each month.

I do not follow this thread consistently, so forgive me if this has been covered already, but have you tried asking the credit card companies for a lower interest rate? From what I understand, they often will--not always, but maybe even more often than not. It can't hurt to try.

 

[ruadisneyfan2]

Small end of September update:

I paid off one of my CCs. It was CC 3 (for those keeping up with my latest post in this same section). It had a $700 credit limit, which my highest CL. But I was also paying a $200 annual fee as well as 36% APR. So I paid that off in full (a little over $680) instead of starting an emergency fund. And I reluctantly closed the account.

I'll just have to pray that nothing needs fixing (car or house) between now and when I'm able to build my EF. But it's paid off. Now I just have 2 left (a $300 CL with no fees and a 29% APR and a $500 CL with $50 annual fee and 30% APR). I'll just continue to pay minimum monthly payments on those for now and try and put money towards an EF.

I say I reluctantly closed it because if I'd have kept it open, my credit utilization would've dropped under 50%. That means my credit score would've gone up, which is part of the reason I paid off this card. I'm trying to rebuild my credit score.

Congratulations! Doesn't it feel great to have a bill crossed off your list? Don't worry about raising your score/lowering your utilization. That high-fee card needed to go away. Your score will increase as you pay down your debt, and keep paying on time.

Realistically speaking, how long would it take you to pay off the credit cards if a small emergency fund was not your current goal?
What is the "extra" amount you could apply to one of your cards, in addition to its minimum payment? At the very least you could apply the minimum payment that was previously being sent to #3, right?

Sometimes we can't help when things break down but what you can do is take good care of your things as best you can so they last as long as possible.

 

[ruadisneyfan2]

Your score should still improve because your debt to income ratio is lower now. Give it a few months. Also once your other 2 cards have been paid off, not only will that raise your score but if you occasionally, gently use one but only charge what you absolutely have the cash to cover, then pay them off, eventually in time, you will qualify for higher credit limits. Then, you could maybe get a card with no annual fee while you continue to built your emergency fund. There are plenty of cards out there without such high rates and fees but usually you need good credit to get them. You would first need to prove that you can manage to not carry a balance over a longer period of time.

JMHO, but if it will take you more than 6 months to pay off those 2 cards, I would at least save up an $800 EF.

Baby steps. You will get there if you keep sending spare $ to one card. Attack it like you're mad at it but don't borrow funds from other areas like rent, electricity, etc. Like that saying, Don't steal from Peter to pay Paul.

 

[trenty]

Small end of September update:

I paid off one of my CCs. It was CC 3 (for those keeping up with my latest post in this same section). It had a $700 credit limit, which my highest CL. But I was also paying a $200 annual fee as well as 36% APR. So I paid that off in full (a little over $680) instead of starting an emergency fund. And I reluctantly closed the account.

I'll just have to pray that nothing needs fixing (car or house) between now and when I'm able to build my EF. But it's paid off. Now I just have 2 left (a $300 CL with no fees and a 29% APR and a $500 CL with $50 annual fee and 30% APR). I'll just continue to pay minimum monthly payments on those for now and try and put money towards an EF.

I say I reluctantly closed it because if I'd have kept it open, my credit utilization would've dropped under 50%. That means my credit score would've gone up, which is part of the reason I paid off this card. I'm trying to rebuild my credit score.

This is a huge step forward! Don't worry about your credit score right now. I am team EF for you - pay minimum on the cards and build up $1000 in savings - to be used only for true emergencies (anything you cannot cashflow from he budget.) Use the money you would have put toward CC3 into a savings account each month (more if you can).

If you haven't already - start a formal monthly budget. It's another game-changer when trying to get a handle on finances. I use Everydollar (it's free), but there are other budgeting apps out there.

 

[AmyAnne]

Don't know about the CCs. But I tried with my car. They said I had to pay it down to what it was worth in order to refinance. It was going to cost like $4k to refinance. So I couldn't do that. But now sure how CCs work. I did, though, call and get the credit protections fees removed. So that'll save about $20 each month.

I do think credit cards are different. I haven't heard of anyone getting a car loan interest rate reduced, but plenty of reports of people getting a lower APR on their credit cards just by asking.

 

[ruadisneyfan2]

I do think credit cards are different. I haven't heard of anyone getting a car loan interest rate reduced, but plenty of reports of people getting a lower APR on their credit cards just by asking.

Yes. What is worst case scenario? They say no.

 

[WDW_fan_in_TX]

Thanks. Yes, I do a budget. But it lasts about 4 days, then DW has blown it out of the water and it's no longer adequate. I checked every dollar, but I just do a budget on a spreadsheet. That's probably the 1 thing I'm still lacking at this point.

This is a huge step forward! Don't worry about your credit score right now. I am team EF for you - pay minimum on the cards and build up $1000 in savings - to be used only for true emergencies (anything you cannot cashflow from he budget.) Use the money you would have put toward CC3 into a savings account each month (more if you can).

If you haven't already - start a formal monthly budget. It's another game-changer when trying to get a handle on finances. I use Everydollar (it's free), but there are other budgeting apps out there.

 

[trenty]

Thanks. Yes, I do a budget. But it lasts about 4 days, then DW has blown it out of the water and it's no longer adequate. I checked every dollar, but I just do a budget on a spreadsheet. That's probably the 1 thing I'm still lacking at this point.

Yes. You both have to be willing to follow the budget for it to work. I don't have any suggestions for you there.

 

[ruadisneyfan2]

Thanks. Yes, I do a budget. But it lasts about 4 days, then DW has blown it out of the water and it's no longer adequate. I checked every dollar, but I just do a budget on a spreadsheet. That's probably the 1 thing I'm still lacking at this point.

You both need to sit down and have a real heart to heart discussion. Open communication is important.

 

[disney-inspired]

This will be paid off next payday! Woo hoo!

 

[CinderEmma94]

End of September Update

Financial:
1. Pay off card #1 (starting balance $11,600) Paid Off!
2. Pay off card #2 (starting balance $6,500) Paid Off!
3. Grow emergency fund to $15,000 (currently at $7,500) Paused, this goal will carry into next year and be the main priority in 2025, the goal amount will be bumped up to reflect that.
4. Pay off Affirm (balance $1400) Paid Off!
5. Pay off Christmas cruise & car maintenance (4 new tires, headlights that had to be changed by a mechanic, etc, it was painful to spend that much but it was necessary) (starting balance $11,000) - down to $10,300. This one hurts (the car maintenance), especially because we just got our last consumer debt paid off. We could have used the emergency fund but since the debt is zero interest and its hurricane season and we live in FL we left the emergency fund alone in the HYSA. We have a car maintenance sinking fund, but it really only covers things like wiper blades, oil changes and car washes. My calculations show it only sets us back a month, so should be paid off in Jan/Feb instead of Dec.


Personal:
1. 30 minute workout at least 5 days/week
On track. This one is hard. It's getting done, but with how hot it gets in the summer my motivation is almost nonexistent. I am running in the 5k during Wine & Dine in a month so I have to be ready for that.

2. Read 100 books
369 books read so far this year (added 43 this month)

 

[pblack]

I don't really have any major updates worth posting, but I did pay off our Best Buy card (that we used for our stove/nintendo switch last christmas). I didn't put this as one of my goals because it was always going to be paid off before the 0% interest was done.

 

[disney-inspired]

I decided to sell my SSR DVC contract. I realized I don't really like the resort and really don't need a second contract. I told my agent that I just want to sell it at price that minus the commission fee and estoppel fee would pay off the loan on it. I'm totally fine breaking even because I'm in less debt and have one less monthly expense.

Hoping to sell it quickly!

 

[disney-inspired]

Oh, another thing I wanted to mention is that I'm likely moving to Texas next year.

My sister and her family are moving from CA to TX (plano area) next summer, probably as soon as the kids are out of school. I offered my help to go with them to help set up their new house. They plan to rent for 6 months - 1 year to see if they really like the area before buying. I would go to be another adult to help with the kids (5 kids - Ages between 10 and 1 year) while they get settled.

I'm VERY involved with my nieces and nephew and can't imagine not being a short drive from them anymore. Right now we're like 10 minutes away so I see them a few times during the week. Both my sister and BIL have mentioned they're looking for houses that have a MIL quarters or guest suite situation so I could be on the same property but not necessarily in the same house. We all need our space, so I appreciate that. I haven't found too many options like that so I've been looking at studio apartments since it's just me.

My parents and I visited Texas earlier this year and did a lot of research for them of that area. It's newer, very nice homes but more established then some other areas we visited. My dad and I even talked about going in on a condo together so they have somewhere to stay when they visit. I've never been one to think of property ownership, not really a desire but a condo could be manageable.

I'm looking forward to the change - it's exciting. By moving there where there is no state income tax, I'm giving myself a 4% raise. My PTO policy changes since CA law requires unused PTO to rollover whereas TX is a part of the 'use it or lose it' policy. I have always had leftover PTO to rollover so that'll require me to rethink my yearly vacations.

 

[OlliePop27]

Oh, another thing I wanted to mention is that I'm likely moving to Texas next year.

My sister and her family are moving from CA to TX (plano area) next summer, probably as soon as the kids are out of school. I offered my help to go with them to help set up their new house. They plan to rent for 6 months - 1 year to see if they really like the area before buying. I would go to be another adult to help with the kids (5 kids - Ages between 10 and 1 year) while they get settled.

I'm VERY involved with my nieces and nephew and can't imagine not being a short drive from them anymore. Right now we're like 10 minutes away so I see them a few times during the week. Both my sister and BIL have mentioned they're looking for houses that have a MIL quarters or guest suite situation so I could be on the same property but not necessarily in the same house. We all need our space, so I appreciate that. I haven't found too many options like that so I've been looking at studio apartments since it's just me.

My parents and I visited Texas earlier this year and did a lot of research for them of that area. It's newer, very nice homes but more established then some other areas we visited. My dad and I even talked about going in on a condo together so they have somewhere to stay when they visit. I've never been one to think of property ownership, not really a desire but a condo could be manageable.

I'm looking forward to the change - it's exciting. By moving there where there is no state income tax, I'm giving myself a 4% raise. My PTO policy changes since CA law requires unused PTO to rollover whereas TX is a part of the 'use it or lose it' policy. I have always had leftover PTO to rollover so that'll require me to rethink my yearly vacations.

Plano is very large. Older and newer areas. It's also surrounded by toll roads. Just give thought to where travel might be needed. If anyone has to commute to Dallas, it is a bear. Lots of very nice areas though. The Legacy development is impressive, plus nearby Star in Frisco and Grandscape in The Colony.

Also, it is extremely hot and humid during the long summer. It can be intense for people not used to it.

Even without income tax, the property taxes are extremely high and the appraisals go up rapidly each year. Taxes are not as low as many expect, and overall costs for services in DFW are comparable to any other large US metro.

It's a great place to live and raise a family and we like it a lot. Just know there are positives and negatives like anywhere else. It is certainly not a low tax nirvana like some expect, and houses are expensive in an area like Plano.