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Posts posted by AboveAverage

  1. Also, for both IRAs, do I have access to that money if I have an emergency and really need it?

    Yes, but you pay penalties. Not recommended.

    If you have a Roth (though I agree with jq26 on this, I would not recommend this), you can access it with no penalty after 5 years of having a Roth (think the max is $10,000 though) if you're going to use it for a house. There are other conditions too that you can after 5 years.

    You don't want to play with retirement money though. And you're 30, so you're still a young man. If you can give at minimum 5%-10% of your salary and then apply raises to it from now until you're 60, you can probably retire assuming you are aggressive. I have both domestic and internetional growth funds in my Roth, and I have a mix of mostly large cap growth, and value, and a mixture of mid-caps and small caps, with 20% going international. It's pretty much aggressive (no bonds or money market funds....straight up stocks). I'm taking a beating right now, but I know this pain is not going to last. I have made no modification to my plan and I rebalance my portfolio quarterly (cause it's automatic, and I'd forget if I had to do it once a year).

    You need to read cnnmoney.com or various financial web sites for more information so that you can make your own judgements. But please trust and believe that you don't want to play with your retirement money. And because of your age, go very aggressive and ignore all the stuff with current market volatility. The stock market IS NOT going anywhere. I will get my losses back at some point.

  2. Wow...lusting after your elderly pastor. I think that makes baby Jesus cry. There's a term for this--it's called sexual deviancy. :wink:

    This is easily the most awesome post of the year. :D

    Suddenly "laying on of hands" suddenly has taken on a whole new meaning.....(actually, probably not new, but definitely different than it's original meaning).


  3. Re: SL interest payments. Your lender should send you a 1098-E that gives you the total interest paid. There are income phase-out levels that you hit where you can't write it off anymore. :twisted:

    From the Tommy's past posts...I believe he will probably get 100% of the interest to deduct.

    I on the other hand had the phaseout. Out of $102, I was only able to claim $66.

  4. My wife just got a call from her Student loan holder. They stated they were going to garnish her pay. They want her to sign a rehab paper and pay $2k to stop the garnishment. Does this seems right ? Is there any way around this to stop garnishment?

    Also if we send them any type of payment and they accept does that stop garnishment for the simple fact they accepted payment?

    American Educational Service is the name of the Loan holder

    YEA, she made a bad mistake..SHE ACTUALLY TOLD THEM WHERE SHE WORKED AT..

    Ok, how bad are the Student Loans? If AES is still the loan holder, then she's not yet defaulted and gone to a guarantor. Then that's when ---- starts hitting the fan.

    If the loans are in fact defaulted, she should do the rehab. If she gets garnished, she can appeal the garnishment but that's a process that you're going to have to google. Your wife is still ok to do some sort of arrangement that doesn't involve $2k. Plus, AES is pretty easy to work with as that's who serviced both my original loan and rehabbed loan. But they don't want to delete my original one....lol. (It's going away in 2 years anyway).

    How are the loans being reported on her CRs NOW?

  5. I just had a question about my 401k that I had with my previous employer.

    I am going to be starting a new job soon and this job will not allow me to roll my 401k from my previous employer over.

    I was just trying to get some type of advice as to what to do with it. Some have said to put it into an IRA or something like that. To be honest, I am thinking about cashing it out and using all of it to pay off my Student Loan Balance as paying off debt is another form of saving money in the future.


    Why pay taxes on that money? You're going to pay 10% off the bat, plus more on the balance when you have to file for the disbursement. Plus, you risk putting your retirement at risk, and for what, paying off "good debt"? The interest you pay on your student loans is deductable at tax time. Might as well get extra money instead of paying extra money.

    You can either leave it where it is, or roll it over to an traditional IRA. You will have to figure out if you want to convert it to a Roth IRA. But I would not play with retirement money...you don't want to depend on nonexistant Social Security.

  6. Anyway, on to the question. I know that the consolidation will have a negative impact on my scores as they reage the debt to the day the loan funds, and on a whim I filled out the HSBC prequalification form online. It recommended the Household Bank Platinum (i believe this is unsecured) for $49 processing fee and $5/month. I have no positive tradelines at this point--I understand that you want to have tradelines that have been open and positive for a while, and since I know repair is going to take some time my question is should I take a stab at this card prior to starting repair? It would just sit in my safe and not be used, but once the consolidation funds I doubt I would get the same prequalification due to the score hit. Any advice would be appreciated, and I look forward to being a part of this board!


    Eric, you may benefit from going with Crown Jewelers. You will get a 2500 TL reporting and you will have to buy some garbage jewelry, but you will have a TL. Then you will want to look at department stores and gas cards (I would recommend Macys as they are easy to get and you'll get a $100 CL initially, but every three months you call and you get a CLI that will be dependent on your use).

    If you need a credit card, I strongly recommend that you get a secured (yes, you read right S-E-C-U-R-E-D card). Getting a credit card that you have to pay $5 a month is not wise. I know, because I had a card I had to pay $10 a month (which I fired after 6 months). And for a $350 CL, you are better off getting a secured card (from a real prime bank, like Bank of America or Chase).

    After about 3 months of regular use with department store and gas cards and the secured card you got, you can definitely look at HSBC again, and you might get a $500-1000 card that will not have you pay $5 a month. It took me that long to get my HSBC. (got it in late January). I am one of those PIF folks Veve is talking about, and if you look for one of my posts that lists my FICO scores since March, you will see a nice, healthy progression from high 500s/low 600s to the scores you see in my sig.

  7. ...


    Your response is definite above (way above) satisfactory and I thank you for it. People should understand that your rate is your rate, though, and so many people will have a different set of circumstances than you (like snowflakes...lol). But the range you gave is pretty good, considering the state of the market. (Many banks do not want to lend right now).

    Again, congratulations once again (I can't say it enough and I'm sure others feel the same way) and hope you enjoy your new home for as long as you wish.

  8. I would definitely suggest during your DV process, you get yourself a NACA lawyer.


    Find an attorney in NY that will take your case on contingency (meaning you don't pay). Yeah yeah, you might not get all of that $1G-$3Gs you are entitled to, but if you want piece of mind, a good NACA attorney will make sure they never bother you, report on your CRs or most importantly sell your debt to some other lowlife JDB. They might be able to work with you on the cash.

    Plus, I found that having a NACA attorney made the process of ridding a JDB very easy and quicker than doing it pro se (doing it your darned self).

  9. stop apologizing...geez! 8-)

    LOL...people are so sensitive on the In'net....sometimes things translate wrong, even though one is writing in plain English. Just don't want to piss anyone off inadvertently.

    Another reality...that's how I felt about all of Upstate NY.... My first upstate town was Binghamton, where the prices of a gallon of milk and eggs were about a third of what I am used to paying....that's how I knew I wasn't in Kansas anymore. Then the theme song for Green Acres started playing in my head.....ROTFLMAO...but how I feel about that place, I feel that way about South Jersey. South Jersey is pretty rural, and quite hickish.

    I've also been to Syracuse and Rochester (much of this was in my college days). Both of them seemed like manufacturer towns but they're also big college towns too (RPI, Syracuse, etc). So those places are going to bring the towns money, I'd imagine. The economy is rough right now, and I know daytraders are contemplating suicide today after the wallop Wall St. got today. That will definitely trickle down to you and I in some form or another. Just gotta keep trucking, I suppose.

    Don't get me started on farms though...I like how my taxpayer dollars goes into farm subsidies, yet my produce seems to come from such places as Mexico, Canada, New Zealand, pretty much anywhere BUT the US. And those Apples that Pablo and Pepe are picking probably aren't even being sold to you...or me...but to places like China. Ehhh...I digress though.

  10. AA..At least your gas is cheaper there and they PUMP IT FOR YOU LOL:shock:

    I live in Manchester right outside of Hartford....With my income here I will be living in a apartment for the rest of my life!!!! Yeah Grenwich is outrageous....To think I moved UP here from Clearwater FL!!!!! I was born and raised in Fl, I moved here for my fiancee....

    You know the first time I drove out of state during college...making that drive to Florida for Spring Break. I had such culture shock. I'm in VA, just waiting for my gas to be filled...and it was a self-serve station. I was like WT(x)?!?!

    Last time I did it was when I went camping in NY 120 miles west of NYC.

    So you're not terribly far from the casinos....I have still never been up there....AC is just too darn convenient.

  11. Is BOA's secured card hard to get? How much do you have to put on it?

    Minimum $300...beautiful thing about them too is this.

    When you pay your bill, you can only do it online and they deduct it from your checking account. It's all same day too...no fuss, no muss.

    They CLI they reportedly give you is about 2.5 times your original (last) credit limit. I'd be happy with double what I have now. Plus, I desperately needed a 4 digit CC. To this day, knock on wood, I have not gone over 1000 on my BOA. I think 890 or something like that was the closest I spent...but that was it.

    Do a search on here and Google. This card will be a million times better than 660. You save 10 bucks a month making that switch...lol :D

  12. LOL...I understand your point but I have to reply with just how bad things are right now.

    I understand, and I did not mean to sound insensitive. I am the sole provider of my household. SOLE! I provide for my DF and Japanese Chin and there are times I would want to put both of them to work. However the DF does maintain my home and there is always cooked food when my butt gets home.

    And unlike my father, I not only bring money into the house, I have to do what my mom used to do and pay the bills. It's something I insist on doing anyway because it's all online now and I have to figure out where what is going. Stuff is ontime, but I still have to juggle. I don't mail nothing out that involves a bill. But I have to figure out what to buy, what not to buy. I know it's rough. You're in upstate NY, try being around Manhattan.....where EVERYTHING is expensive (especially the counties in NJ closest to Manhattan...Essex, Hudson, Bergen [where all the millionaires live], and North Jersey in general).

    In any event, if you're not looking forward to a major purchase (like me), then yes, you would not need to get your FICOs and hence spend the money. I am definitely understanding at how rough stuff is.

  13. I do want to know my credit scores (the only score I have currently is my WaMu score) and seeing AA's progress has been a temptation; however, I have decided that the money I spend on those scores can be used to reduce my debt - so I'm resisting the temptation.

    Reducing debt...never anything wrong with that.

    As I said, I'm only a one-month fanatic because I want a mortgage, and I plan on doing it soon. I could do it NOW, but I'd only be setting myself for failure. I have modest savings at best, and I don't want to tap into my retirement accounts for this, even though I can.

    Everyone has a different path/stage they are on. Just sharing how I'm doing things, is'all. I also try to be positive if at all possible. :D

  14. None of my student loans are defaulted, CAME close but they are not defaulted. I consolidated them and great lakes has them now. I am in hardship deferment till this time next year. Should I not worry about them right now and go after the collections instead?

    Another question..I have been disputing everything negative should I tone that down to a few at a time? would I get a better response?:confused:

    SInce you're in deferment and no other issues, then yeah, I would concentrate on the collections right now.

    As for disputing...I have always found that I am ok disputing everything at once and seperately (one letter per dispute). If you put everything in one letter, you give CRAs an excuse that they misread or something. Yeah, CMRRR that many items can be expensives, so do what you can afford.

  15. Thats very good AA and your credit sit was simular to mine too....I am impressed...

    All the reason I advocate spending the $38.26 monthly. My Fakos are 100 points lower than my sucker FICO scores. You get a better sense of what and how you're doing. The reason you might see 2 or 3 times monthly from me is because I checked when I saw a major change in TC. (I don't do that anymore...I still stick with the 25/26th of the month now... :) )

  16. http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=289057

    Well i just read this thread and I didnt know this was going to be asked LOL so I guess Student loans don't really affect your score.

    My original SL just have the lates on it and it is going to fall out in 2010. As long as I have documentation that the loan is paid, I can get a mortgage. My rehabbed loan because it was $521.95 is PIFed....I had to because they were going to try to keep my state refund check.

    If you had a default on there, you must rehab. No DVing, 623ing or any of that....that debt has to be straight up paid the way they want you to pay it off....sufferred for a good 9-10 months.

  17. I can't afford to but those stupid scores all the time either, I bought one, and I plan on getting the 3 from TC soon so like AA and a lot of the others do so you can see your progress, so you don't feel like you are going no where...I am a member of credit Karma too, I just joined a few days ago, I never knew of that place till a person here posted about it....:-)Welcome...:)

    Let me ask you something? Do you go out drinking with your buddies? That's gotta be at least 20-40 bucks, right? How about movies with your woman? You probably spend maybe $40 a month on something trivial. If it were just a bar night with your buddies, that's easy.....you can forgo it ONE night for a month....

    $38.26 just isn't terribly expensive. Not trying to sound like a snob, or anything....trust me. I know you got some issues with your CRs though....I trust they'll have an answer for you in a couple of weeks (hopefully).

  18. A cutie who could seriously use some make up in that picture.....:oops::lol:

    Anyhow, I'm glad somebody knows! I love love love the Undertaker! So you were watching back when he was walking on the ropes and stuff huh? He's my baby! I also like Stone Cold of course, Goldberg, and HBK.

    Yup...carrying the urn, with his little buddy manager Paul Berra (sp?). Yeah, it brings me back.

    I stopped watching it when I got into high school. Didn't have time for it and every now and then would get into it a little bit at college, but I guess I kinda outgrew it.