- This topic has 10 replies, 7 voices, and was last updated 8 years, 11 months ago by Anonymous.
- April 30, 2011 at 4:15 am #418052AnonymousInactive
take the quick cusion and put it in an online savings bank. good luck. 12% 12 years straight i’m impressed good job.
- April 30, 2011 at 4:15 am #418053AnonymousInactive
If you can make the payments without the increased down payment, leave your retirement money where it’s at. And it wouldn’t make any sense if your investments are liquid to sell them now just to have them sitting around “just in case” you need the cash. If that comes up, sell them then.
- April 30, 2011 at 4:15 am #418054AnonymousInactive
Obviously only you know how tight your finances could get. Purchasing the home is one thing. Remember there is the upkeep and the unexpected things like needing to replace a furnace, roof, etc.
Your investments’ value is known today. Not known for tomorrow. Your mortgage payments will be known. So using some of your investments to lower the mortgage may not be a bad idea. Your house is supposed to appreciate in value.
- April 30, 2011 at 4:15 am #418055AnonymousInactive
12% return is great, I would not touch these investments to make a mortgage payment. There are many different mortgage options available on the market today. I would suggest shopping around and learning about the mortgages that are available on the market today. For example, if you could get a mortgage for less then what you are paying for living expenses today, by putting that saved money into your 12% return for the 3 to 5 years will be a better investment then paying a Principle and Interest mortgage.
- May 4, 2011 at 4:12 am #200553AnonymousInactive
I had an accident and it was my fault. I did not have insurance but the lady that i hit did have Allstate insurance. Now C.C.S is billing me $3,556. I’ve been paying for about a year now and I still owe them over $2,500. I have been paying my credit card on time and every other priority payments I’ve had. I just don’t see the point in paying this people any more. What’s the worst thing that can happen if I abrutly stop paying them.
- May 4, 2011 at 8:09 am #258148Arnette RounsevellMember
your credits gets ruined, the interest rate on every single line of credit that you have increases, the company will take you to court, and the judge will garner your wages, so you still end up paying what you owe, plus reasonable attorney’s fees – and your employer finds out.
just pay up. if you can’t afford to pay anymore, call them up and tell them that if they agree to forfeit their claim without recourse, you will give them a lump sum payment of however much you can afford (since you’re current, you might try to settle for 80 or 90 cents on the dollar, but they still might not accept it).
- May 4, 2011 at 11:47 pm #258256Melinda PorteousMember
it goes to collection. you received notices by mail. they contact you endlessly by phone. plus they can ruin your credit….
at the end of the day- you’re still alive.
- May 5, 2011 at 12:27 am #258287Consuelo WilkersonMember
They can and will take you to court. If you just make ANY payment, even 10 bucks it might keep you out of court as it seems like you are trying in good faith to at least pay something.
- May 5, 2011 at 12:30 am #258289Rosalyn DillonMember
I thought not paying a bill would just go against your credit for seven years as well. this was until last month. my friend was divorced over 7 or 8 years ago. he got a statement from the local courthouse saying he originally owed 1500 dollars on a credit card and now owes over 3000 with the added interest. he had not heard anything from the company until he got this notice saying they would be taking 20 percent of each of his paydays thru his employer…and will do so until the 3000 is paid.
he was told by the court house that any credit company can do this.
i was shocked. so be aware. i didn’t know this was possible or legal. but it is.
talk to the company and see if you can five dollars a month or something…as long as you are paying on it…maybe…or if they will take a smaller amount if you pay it in full.
i usually consolidate all my bills and just pay one payment. i did this thru citi card…it is a loan payment and you pay it off in four years…interest rate is not too bad.
that way your credit stays in tact and you can buy cars and houses at lower interest and keep your car insurance lower…bad credit makes it go up.
best of luck.
- May 5, 2011 at 1:53 am #258372Boyd BedardMember
it will just go on your creidit report for 7 years…i know that there are rules pertaining to credit and what can or cant go on your report….when you want to get a loan they want to see a history and it may or may not be important to whom ever you a receiving the loan from….however if you are showing that you are making other payments on time but not this one it may be overlooked
- May 5, 2011 at 2:32 am #258443Natalia HarderMember
they can take you to court, where you’ll incur legal fees. Then you’ll lose, and they’ll start garnishing your wages so you are forced to pay them.
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