Live like no one else: The Dave Ramsey Show appreciation thread
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Been going over this plan on paper for the last 2-3 weeks. I think I have it nailed down for the most part.
I'm planning on combining my raise nx year, with going exempt for 6 mos and using that extra money to pay off all of my debts excluding my Mortgage. Then to offset my tax bill, I will max out my deferred comp plan for the 2nd half of the year. In 2019 my debt to income ratio should be low enough to allow me to stay maxed out, pay all my bills and still save a lil bit of cash. Maxing that plan out for 18 mos would put me in very good position moving forward w/ 14 years, or more to continue growing that nest egg.
Thoughts???
The raise I was hoping for is now official. Will be implemented on Dec. 4th. Time to get this ball rolling. -
Young_Chitlin wrote: »Former NFL quarterback Michael Vick made the final $1.5 million payment to creditors on Thursday, meaning he paid back $17.4 million of the $17.6 million that he owed when he filed for bankruptcy in July 2008.
The payment and final payouts were confirmed by Joseph Luzinski, a senior vice president at Development Specialists Inc., a management consultancy firm and the liquidating trustee in Vick's bankruptcy.
"Paying 99 cents on the dollar, which he did, is remarkable," Luzinski said. "It happens in, maybe, one out of 100 cases."
Vick elected to file for Chapter 11 bankruptcy instead of Chapter 7, which would have allowed him to liquidate his assets and not owe any more. Vick, who served 548 days in jail for taking part in an illegal dogfighting ring, took the rare step of kicking in future income to pay off his creditors.
He should be praised for this. -
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"The point is.. You can do it." - Dave Ramsey
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? i paid off one credit card almost 2 wks ago but it hasnt reflected on my creditkarma yet...while my other card had a balance but my credit limit went up by $300. Actually both cards got a credit limit increase.
So on the last update from credit karma i only spent $130 out of a credit limit of like $1200 but it showed $237 out of $800 instead (on previous page).
I also have an experian account and the numbers havent updated on there either.
All 3 credit bureaus still show a 30% utilization tho its been more like 10% for the last 2 wks. Thus, my score hasnt changed at all. Weird.
Paid off my other card in full today so i now have a $0 balance, but zero debt will bring your score down too lol.
Guess ill buy some necessity items tomorrow n keep under 10%.
This ? tho! -
? i paid off one credit card almost 2 wks ago but it hasnt reflected on my creditkarma yet...while my other card had a balance but my credit limit went up by $300. Actually both cards got a credit limit increase.
So on the last update from credit karma i only spent $130 out of a credit limit of like $1200 but it showed $237 out of $800 instead (on previous page).
I also have an experian account and the numbers havent updated on there either.
All 3 credit bureaus still show a 30% utilization tho its been more like 10% for the last 2 wks. Thus, my score hasnt changed at all. Weird.
Paid off my other card in full today so i now have a $0 balance, but zero debt will bring your score down too lol.
Guess ill buy some necessity items tomorrow n keep under 10%.
This ? tho!
It takes a little while for the credit scores to update, it's taken me anywhere from four to six weeks to see a different number -
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@Trollio Compadre I saw your post in the other thread, you can settle for cents on the dollar. Get it in writing before you send any money
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Been going over this plan on paper for the last 2-3 weeks. I think I have it nailed down for the most part.
I'm planning on combining my raise nx year, with going exempt for 6 mos and using that extra money to pay off all of my debts excluding my Mortgage. Then to offset my tax bill, I will max out my deferred comp plan for the 2nd half of the year. In 2019 my debt to income ratio should be low enough to allow me to stay maxed out, pay all my bills and still save a lil bit of cash. Maxing that plan out for 18 mos would put me in very good position moving forward w/ 14 years, or more to continue growing that nest egg.
Thoughts???
The raise I was hoping for is now official. Will be implemented on Dec. 4th. Time to get this ball rolling.
News was announced out of now where last night. No rumors, or nothing.
Starting in March, we will be getting an additional 5% for working might shift. -
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