Im in a big hole and some advise.
Embarrassing as it is to right this i must because i really need some help on my dept.
I have 3 loans and payments of over $900 per month. I lost my at the start of the year witch sent me into more dept and being VERY late on my repayments, im so far behind now im finding it to hard to keep up, im broke everyday. I was the “Jackie” of steves book but a male version.
I started work again about 3 weeks ago and im taking home about $900 to $1000 a week..
I have tryed to consolidate my dept, but the banks cant see me paying back $600 a month insted of over $900. Does anyone know of a company that could help me? Im trying so hard to save for my first investment property and im studying steve’s book so much. I just want to be better off and stop it being the first thing i think of in the morning and the last thing at night..
Is there a company thats willing to take me on?
any info would be great.
Keep up the great work on the webpage.Damian
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
Go to the library and get a book called “MONEY SECRETS OF THE RICH” by John R Burley.
Read the book.Apply the principles.Problem solved.
Good luck.Russ.As Russ says read some books
suggest ‘the richest man in Babylon’ by Clason
Go see a mortgage broker – be honest and they should be able to help.
If your in WA i can recommend 1 or 2.
Rgds
Andy
NB the horse is called FridayI would second RussH. I would highly recommend all people buy the book.
As a stop gap you can get some more info on getting out of debt here: http://www.johnburley.com/free_downloads.html
(you have to sign up, but they have never sent me any spam or even an email…).Rgds.
Lucifer_auMrVip,
SEEK PROFESSIONAL FINANCIAL COUNSEL !!!!!
Reading is fine, but it takes time, and unfortunately in your situation you need to spend yours digging your way back out.
Your situation, though sad, is not a total loss. YOU CAN FIND YOUR WAY BACK, but my advice is speak to another bank/financial instituion whatever to help in your consolidation….they are out there…..try more than one!!!!
Above all, spend less time reading, and more time talking on the phone, in person, pounding the pavement, anything that will lead you to someone who will help steer you in the right direction, and that can (here’s the key) ACTUALLY OFFER ASSISTANCE, not just proclaim to have the answers as in the case of so many books.
Good luck,
Jo
Originally posted by MrVip:Im trying so hard to save for my first investment property and im studying steve’s book so much.
Damian
Does this mean you have a PPOR already? If so, speak to a broker about a debt consolidation loan under one mortgage. If not, John Burley has some fantastic info.
On the bright side, you are now have an income again and have an opportunity to get yourself back on track.
Good luck and I can’t remember where i saw the quote but it goes something like this “There are no mistakes in life, only learning experiences”.
Here’s another one for you: “If you find you’re digging yourself into a hole, stop digging”
Anyone got any more (better) inspirational quotes?
Brendon
Acute Mortgage Reductions
http://www.acutemr.com.au
[email protected]Monopoly – John Burley promises that you can be finacially free of all debts (inc. CC + PPOR) within 7 yrs, if you follow his easy system (he gives it free, as I mentioned before, or you can read about it in Money Secrets of the Rich.
Rgds.
Lucifer_au.Some people dont like books.But from my experience there wouldnt be so many if they werent useful.
Originally posted by RussH:Some people dont like books.But from my experience there wouldnt be so many if they werent useful.
True, some people don’t like books….I Love them, guess I have to….I used to teach literature to university students, and how could I teach them about stuff I didn’t read myself.
My problem isn’t with books, nor people who read them RussH, my concern is VULNERABILITY which is what so many “get rich” books prey on. You sound like the perfect target!
Good luck, happy reading!
Jo
Originally posted by Lucifer_au:Monopoly – John Burley promises that you can be finacially free of all debts (inc. CC + PPOR) within 7 yrs, if you follow his easy system (he gives it free, as I mentioned before, or you can read about it in Money Secrets of the Rich.
Lucifer,
I am financial free….and I did it WITHOUT John Burley thank you very much.
FREE….my ass….you had to buy the book didn’t you (royalties!!!!).
So how many years have you got to go before you are financially free??????????
Keep reading, and keep learning, but do exercise caution. Just because it has a hardcover, doesn’t make it gospel.
Jo
But heres what I find funny. We give the tools for someone to get out of debt for FREE (you seem to have trouble grasping that concept), and you offer no advice – except go get some counselling? Well where? Financial planners office? Were they can sell mutual funds? Where? Provide some places. Or how about you do some research just as me and RussH have done and actually offer some useable advice??? Rather than blabering on something that pretty much has no relevance to this persons problem.
Rgds.
Lucifer_auEdited: Took of DEP (Debt Elimination Plan) because it was to big to really fit here (15+ pages…)
D/L at the site I suggested.(I suggest you D/L at that site Mr VIP, I tried to edit it, but at 15 pages… eh’).
Lucifer,
Yes, financially independant at age 28. If you or anyone else wants to know more, I will gladly (without reservation) let them know. But save your respect for someone who really deserves it, not me…I don’t ask for it, nor do I consider my achievements worthy of mention, unless specifically asked.
Thanks for the lengthy post, sorry I didn’t read it all…
Contrary to what you may or may not believe, I am not out to show you, RussH or anyone else up as not knowing what your are doing. I just don’t agree with try to convince others of a noble gesture that is quite the opposite.
As for books, by free I meant, you had to purchase it…unless you borrowed it, in which can, I stand corrected.
Happy reading, and I will you (and believe it or not) RussH all the success in the world.
Jo
Well done Monopoly, you outdid me by 2 years.
No gurus involved either.
Cheers,
Aceyducey
MrVip
I think u should hold off trying to save to buy an IP at the moment. If u hav fallen behind several times in your repayments then perhaps ur credit rating is also damaged.??? (just thinking aloud here)
Do what any business (and myself) would do when in financial strife, Minimise all expenses, maximise income (get a second / 3rd job) and pay off the highest interest rate debt first.
Shop at 11:30 pm to buy marked down food, sell the second car, just sit down, write down where the money has gone in the last 2-4 weeks, then start slashing expenditure and work out better ways to use ur money.
I dont know what kind of debt u hav, but sort it out first, then worry about an IP…
Good luck !
Jason
[offtopic] OK people in here seem to be getting personal and defensive and forgetting Mr VIPs problem.
Do what they say, get the book, budget etc.
also for debt consolidation do you actually own any property? if you do try a company like Liberty finance, they take more risky clients than banks do but charge higher interest, nothing like a credit card or some other loans out there though.
keep tryign and dont give up, you can get help out there. If you dont mind me asking…how much do you owe total and what kind of debts are they? personal loan, care loans, credit cards etc.
for example lenders do not like people with multiple credit cards. try getting rid of them one at a time. actaully i think rich dad poor dad or one of the other books in the seriies…posibbly retire young retire rich have some get out of debt strategies. try those out. I think basically it was trying to get rid of debts one at a time.
also make sure you have the financial DISCIPLINE otherwise another loan will simply get you into more trouble…
good luck
William
Business Manager
The Mortgage ProfessionalsMrVip,
I am not sure of your age but if you can move back parents place that could help on living costs. There is community financial counselling available for people who get into trouble in some areas. You may find out some information at the Centrelink office, they often have a big range of pamphlets with information. If you can’t get help there check out the local council or legal aid.It can be difficult if you are behind on everything but no bank will help you if you are a high risk. If you start by keeping up the repayments you have and make arrangements to pay things off as quickly as you can.
You will need to write up a budget and stick to it!
Good luck and stay focussed!Tracey[biggrin]
Dear Vip (I do hope you exist- sometimes people with 1 post never post again and I doubt their authenticity, but anyhoo- i am sure you are real) :o)
You wrote:
“I started work again about 3 weeks ago and im taking home about $900 to $1000 a week..”
ok, so why are you panicking? On my very non-mathematical reading of your salary, if you take home $950 a week, then you are actually earning about $1400 a week. This is around an annual salary of 70k- you’re doing ok.
I am gonna presume your debt is not income-producing (otherwise it would be paid off by rents etc, right? and you wouldn’t be worried).
VIP, even though you’ve fallen behind in your debt, you are *easily* in a position to repay your debt now. You have to pay about $230 a week debt. That is not really a huge amount given your salary. I have had that kind of debt/financial commitment most of my life- car loan, uni fees, rent, credit card debt, tax debt… you name it- life’s expensive.
Given your new wage, you are not gonna have a problem loaning a maxi-amount from almost any provider, unless you have a marke against your creidt rating, which another poster already mentioned.
Good luck and enjoy the fruits of your new wages!
kay henry
Good luck with it mate… youre not the only one just remember that- its not easy but stick with it and keep coming back to the website to hear other peoples success stories to inspire you. Ive finally paid off all of my personal debt now (just recently too), but it is hard to see that light at the end of the tunnel sometimes. Stay positive!
You seem to have realised that there is a better way to live and believe that you can achieve it. If I am to believe what I am told most people don’t get that far. So you are way ahead of them. Keep your eyes, ears and mind open. Set goals, make plans and don’t give up.
Best of luck to you
SonjaStop feeling sorry 4 yourself.
For every problem is a solution.
How bad do you want to succeed.
Our decisions not conditions will determine our financial destiny.
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