crossposted on Jow Forums, but i feel like i can maybe get some good or at least interesting/entertaining replies here too?
this is a really embarrassing post to make but i feel like i can finally face it and deal with it. so i have some substantial credit card debt. around $12k or so. the debt is simply just me spending like crazy in college and just having far too much fun. i went on awesome trips and went out to bars a lot. i had an awesome time but now the debt has caught up to me. i'm lucky though, i have a college degree, i have a full-time job although it doesn't pay nearly enough to pay make a dent in my debt and live on my own but i do have the option to live rent free with my parents or with some friends for very little rent in another state.
i basically know what i need to do. i've cut up and cancelled all my credit cards, and am in the process of selling all my unnecessary shit. but since all my stuff went to experiences, i don't have like a really expensive gaming rig to sell to make the money back. i can probably scrounge up about $3-4k in cash though. how fucked am i though? my credit score went from nearly perfect to shit. do i have any hope of getting out of this? i'm feeling a little more hopeful than usual because 12k doesn't actually seem like that much but i'd like some perspective either from someone in a similar situation or who knows someone in a similar situation. oh and feel free to call me an idiot too.
just file bankruptcy and let the baby boomers pay for it. After all they are the ones the fucked our generation over.
Alexander Ward
Take more debt and go all in on crypto. Then declare bankruptcy. > i've cut up and cancelled all my credit cards Ah, sorry for your loss. Not gonna make it.
Logan Price
>not getting a tradeline and incurring debt on someone else's expense C ucK But the best thing you can do is either agree to pay a settlement or just pay monthly
Jack Evans
Or he can suck 1200 cocks $10/each.
Jaxon Jackson
Capital one doesn't want to do purchases with coinbase. Is there other places I can buy crypto with my capital one card, user?
Nicholas Torres
Find a card with a 0% APR introductory rate and use that for all your expenses while paying down high interest loans.
Invest in a fine pair of kneepads. Suck 12 000 penises at 1$ each. you should handle atleast 1k penises per year. Thats only 12 years to downpay your loan that you managed to accumulate by being a retarded nigger
Henry Diaz
How about you just start making monthly payments you fucking nonce.
If you have 3-4k cash use that to pay off ~200 a month for a year and a half while cutting down on your expenses and living at home with parents.
Xavier Jenkins
I have a Bach in French and minor in creative arts
Jacob Wood
What is your household income? What other debt do you have? How much is your car payment?
OP, I think the best thing that you can do is learn about the financial system. Start looking into the creation of money, if you want to get deeper pickup a copy of Barons banking dictionary. start learning banking law. Once you realise that the money in 'your' bank account is not yours & you have deposed the funds to the bank.... i don't think you will ever look at 'credit' in the same way...
Ian Hernandez
Go back to school (doesn't have to be a college) and learn about finance. There is no pressure to learn fast or learn alot, since you won't be looking for a job in this field. You suck at money, and you need to learn some of the basics. I'd suggest looking at the ciriculum for a finance major, and picking the subjects that seem the least dull to you. Then go to the library and read books on these subjects. Can also pirate them or find free material online. Set a goal of reading 8 books.
William Thomas
I would go hang out in credit repair forums, not here. There are tons of places with good advice on how to handle this kind of thing, and how to start rebuilding credit. And, BK is always there. Most people who know about that say under 10k isn't worth it. Since it's mostly credit card debt, you may not be able to discharge a lot of it. Another thing to consider is a second job. $1k a month would kill the debt in a year. You could easily do that with Uber, or working part time in some easy retail gig, or bartending on the weekends, or something that brings you benefit, like working in a store that sells stuff you're into, like hobbies. I paid for my salt water reef tanks like that, working in a fish store on the weekends. 12k isn't life changing debt, but it's big enough to suck, for a while. Just make sure it stays out of collections, and you don't get judgements against you.
Matthew Foster
Start with the Richest man in Babylon
It's short and easy and will make you 80% less retarded
Joseph Davis
>12k >bad hahaha 300k here and the goldbergs love my wife and kids racking up debt. never have a joint account, ever, at all.
get your lazy ass a job and pay that pocket change back in 6 months.
Camden Powell
Suck 12000 dicks
Xavier Young
Just stop paying it. Eventually the credit card company will contact you and agree to take a much smaller amount to settle your debt. They will however ding your credit but within a few years it will fall off your report and your score will recover.
Or you can just stop being a dumbfuck, quit spending money on anything other than bare necessities and put everything else into your card payment until it's gone.
Short bitcoin, retard. It's 2018. Shorting bitcoin now is like buying bitcoin in 2010. Why is everyone so fucking stupid but me?
Ian King
BK doesn't work that way, retard. The on;y way to discharge all debt is Chapter 7, and you need to show that you can't pay off the debts, and not be working. People that qualify for 7 are people with 100k in medical bills, or got laid off and can't work. A young person working who just racked up credit card debt isn't going to qualify, period - and one look at the sudden burst of debt is going to raise eyebrows with the trustee assigned to process the BK under a 7 filing. They know more than morons like you do, that will be an instant red flag, and then you'd be looking at big trouble from the judge for trying to scam them. OP would qualify for Chapter 13, which is a restructuring of debt, not wiping it out. He's working, has income, the court can structure his debt so it gets paid off - all he'd be doing is paying $1500 to a lawyer to do what he can do himself, the only reason for Chapter 13 in his situation is if it's all going to collections or they're getting judgements and garnishments. Chapter 13 is for when you're out of options, and it doesn't sound like he's there, yet. But you keep pulling your puny little pud over your sad little cryptoscam daydreams. If it's so easy, why haven't you done it? Oh, that's right, you're talking out of your unwashed ass.
Matthew Jones
>Just stop paying it. That's great advice for getting taken to court, sued, and having a judgement against you, and then garnishments on your paycheck. Good job, stupid. >Eventually the credit card company will contact you and agree to take a much smaller amount to settle your debt. Yeah, that's exactly how it doesn't work. You just double and triple down on stupid, don't you?
Ryder Gray
How did you let things get so out of control? What's your debt to income ratio?
My wife and I share everything but we also make a budget together each month.
Jack King
Because Bitcoin is now oversold. I shorted it until 8250. I could have shorted a bit longer, but now people are fearful.
It's approximately the time to buy. Could it hit $7000 or lower? Sure. But it will bounce back to $9000 within two months.
Easton Evans
working away for most of a year so a large wad builds up, clearly not everyone has the self control we have.
Benjamin Hall
Doesn't your wife want financial security? Does she like drowning in debt? Maybe you should teach her some basic arithmetic so she knows how much she is spending.
Jason Morgan
Also was a millennial debt fag. Had 15k in debt, mostly from living in LA, having a shit jobs with more expenses, and using credit to fund start up ideas that failed.
Luckily, I was able to make some money off the crypto run last year and pay it off.
It feels good not having to worry about it, but honestly, I wasn’t smart with my money. And I just ignored the debt anyways, so paying it off wasn’t a huge weight off my shoulders, but it was still nice.
Don’t file for bankruptcy. Just learn more about finance, and just start budgeting to pay it off. Everyone is in debt that’s how the US system works.
Don’t worry about it too much. If you had fun and it was justified then that’s ok. If you know you’ll have it paid off then you’re good. You’ll pay it off. It seems like you’re on the right financial path
Aiden Gutierrez
how2short bitcoin
Gabriel Smith
One way to look at it is, you now have a monthly payment, like a car payment. You just don't get a car at the end of it. People will run right out and take on 50k debts for a car with a monthly payment, but freak out that they might have to pay off a debt like this, over time. It's kind of funny. You threw the party, now pay for it. You might not be able to afford HBO for a while. Or keep your current phone for a year longer, or bring lunch instead of dropping a couple hundred a month on takeout. I was young and dumb, too, and while my debt was only around 2k, I had that hanging over me for a while. Then I learned about compound interest, and how much I was throwing away making minimum payments every month, and racking up late fees. I paid that shit off, and learned to budget my money. I try to have several months worth of bills in the bank at any time, and I have investments now that will cover years of expenses should I need them. Living check to check sucks, but really, it's on you to get out from under living like that. I would bet most people could cut their monthly bills 25-50% doing away with shit they don't really need, like cable packages they don't watch, buying shit they don't need, and being lazy and buying fast food instead of cooking. Almost our entire economy in the US is based on people NOT doing that, but there's no reason you have to participate.
Justin Turner
It's nothing like a car payment though. With a car payment at least you're left with an asset with some value.
Adam Howard
>You just don't get a car at the end of it. Yeah, i said that already, Captain DidntReadTheFuckingPost. "You just don't get a car at the end of it." But hey, you tried.
Samuel Foster
This Still way more longs than shorts and those need to be liquidated before BTC does another bulltrap. When shorts are increasing but price isn't decreasing like this April's "shorting paradigm" close your short.
Bitmex, just need vpn to sign up if you're an american. Use someone's referral link for a fee discount. Don't use more than 10x leverage unless you get info early on that you know will pump/dump it.
