I lost. Invested on margin and really didn't have a good enough grasp of it all....had no business playing around like that. Expensive lesson about the importance of trailing stop losses. Will pick up Investing for Dummies again..and actually read it cover to cover in 2009.
No one should file bankruptcy these days if they can avoid it. The bankruptcy laws that changed last year ..maybe it was 07..will force most to a Chapter 13. You are still going to be repaying the debt and it will have a longer impact on your credit score. If you meet the guidelines that would allow you to file a 7 and really don't see being able to pay off your unsecured debt over a reasonable period of time, then perhaps...but bankruptcy is no longer the easy fix it once was.. I work for a collection firm ....there was a mad rush to file those things before the laws changed but tighter restrictions have slowed filings...even in the current situation.
That would be most people's perception, but it is not like "expenses are like 2x more than the income for us". Strictly on a monthly budget, we are within plus/minus $100 every month, although, any unexpected bills can throw a wrench for us, but that's where extra income tend to come in as well. It's a wash, I guess.
* CalvinTy
Haven't lost anything, long term stuff always comes back, that why it's in there. It's safe if you don't panic. Anyway not only waiting patiently I become aggressive in times like this and expand when I can. Also long been invested in 2 pawn stores, a bad economy is great for me, I always vote for the biggest idiot to get in office and hope for the worst.
Nope, not me, that was another Patty Mac, I bought this user name for $20 at a local bakery a few years ago. I don't gamble or bet on credit, it's illegal where I live and I'm still on probation. I'm a good boy and follow all laws of the land. I am a professional keno player when I visit Vegas though. Why do you ask?
One bit of advice to guys in their 20's....
Save as much as you can now, it will make a huge difference down the road. I realize that it is a great time to enjoy life (was the best for me), but if you can put a couple hundred bucks away per week or per paycheck, it will add up. When I was in my twenties, I spent everything I made and more. Ran up thousands in credit card bills taking trips, going out everynight, buying useless shit I didn't need...Finally in my 30's I got married and got my shit together, bought a house, all cc's are paid off, etc. Now, I will be 40 in March, and would like to retire in the next 10-15 years, but don't know if it will happen. Would've been more likely if I had been more prudent in my 20's.
BTW, try not to allow your wife/girlfirend to get $165 haircuts....just noticed a charge in my account yesterday, WTF??? Costs me $12 plus $5 tip....anyway, save and keep some of it secret from your girl.
Save as much as you can now, it will make a huge difference down the road. I realize that it is a great time to enjoy life (was the best for me), but if you can put a couple hundred bucks away per week or per paycheck, it will add up. When I was in my twenties, I spent everything I made and more. Ran up thousands in credit card bills taking trips, going out everynight, buying useless shit I didn't need...Finally in my 30's I got married and got my shit together, bought a house, all cc's are paid off, etc. Now, I will be 40 in March, and would like to retire in the next 10-15 years, but don't know if it will happen. Would've been more likely if I had been more prudent in my 20's.
BTW, try not to allow your wife/girlfirend to get $165 haircuts....just noticed a charge in my account yesterday, WTF??? Costs me $12 plus $5 tip....anyway, save and keep some of it secret from your girl.
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To be honest, I am probably better financially right now than I have ever been in my life.
I have a good job in probably as safe an industry as there is right now. Credit card is paid off and rarely used and my mortgage has gone down by around £150 a month just in the last few months alone.
I count myself very lucky indeed...
I have a good job in probably as safe an industry as there is right now. Credit card is paid off and rarely used and my mortgage has gone down by around £150 a month just in the last few months alone.
I count myself very lucky indeed...
couple quick questions, not real smart when it comes to credit and stuff like that.
1. what is a good 0% credit card that you could transfer balances from another credit card to?
2. weird question that i've always wondered and my friends have discussed. say you have $10,000 in debt and want to buy a house. say that the house costs $100,000, can you get a loan for $110,000 or even more than that and pay your credit card/student loan debt by making one big payment rather than making different payments to certain things, ie. credit card company. so you'd pay off the credit cards and loans and just make a little bit bigger payment on your house.
3. what would make you have bad credit in general? say you have $10,000 in debt but make all your payments on time, what would your credit look like and how would you develop "bad credit"
thanks for the responses, i was just curious and my friends have talked about it but really have no idea who to ask the questions too.
1. what is a good 0% credit card that you could transfer balances from another credit card to?
2. weird question that i've always wondered and my friends have discussed. say you have $10,000 in debt and want to buy a house. say that the house costs $100,000, can you get a loan for $110,000 or even more than that and pay your credit card/student loan debt by making one big payment rather than making different payments to certain things, ie. credit card company. so you'd pay off the credit cards and loans and just make a little bit bigger payment on your house.
3. what would make you have bad credit in general? say you have $10,000 in debt but make all your payments on time, what would your credit look like and how would you develop "bad credit"
thanks for the responses, i was just curious and my friends have talked about it but really have no idea who to ask the questions too.
