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WookieMan
2024 Sep 7, 9:53pm
WookieMan
2024 Sep 7, 9:53pm
mell says
I don't do it. I'm just stating how it is. A debt collector paid your debt assuming you'd pay something. Your credit is already shit and the debt was paid by the debt collector. It's paid. Attorney's and debt collectors create fear to make money. It's water under the bridge. Debt collectors can't garnish wages. They have no recourse.
I get the domino effect. Maybe charge lower rates on CC's? Maybe there would be less defaults. I don't feel bad for a business charging 25% interest rates losing money. Fuck 'em. I pay on time, but an argument could be made they're cock suckers feeding off the financial unintelligence that is common in 80% of the population. Most of it is poor people and people of color. Should be a Dem policy but they're common retards.
Again, not promoting defaulting. Just saying it's not a big deal. My BIL killed himself over it. Helped about 100 homeowners short sell their homes 2007-2012. Don't get emotional. All are doing better than when they had bad debt. I think my personality speaks for itself here. I give zero fucks and know the ins and outs. You don't have to pay debt. Your house is protected and retirement account. Rack up some CC debt and take the credit hit. NEVER file BK. Dumbest move you could do and have been forced you have to do by the industry.
Maybe they have a higher moral standard, not everybody thinks it's cool to default.
I don't do it. I'm just stating how it is. A debt collector paid your debt assuming you'd pay something. Your credit is already shit and the debt was paid by the debt collector. It's paid. Attorney's and debt collectors create fear to make money. It's water under the bridge. Debt collectors can't garnish wages. They have no recourse.
I get the domino effect. Maybe charge lower rates on CC's? Maybe there would be less defaults. I don't feel bad for a business charging 25% interest rates losing money. Fuck 'em. I pay on time, but an argument could be made they're cock suckers feeding off the financial unintelligence that is common in 80% of the population. Most of it is poor people and people of color. Should be a Dem policy but they're common retards.
Again, not promoting defaulting. Just saying it's not a big deal. My BIL killed himself over it. Helped about 100 homeowners short sell their homes 2007-2012. Don't get emotional. All are doing better than when they had bad debt. I think my personality speaks for itself here. I give zero fucks and know the ins and outs. You don't have to pay debt. Your house is protected and retirement account. Rack up some CC debt and take the credit hit. NEVER file BK. Dumbest move you could do and have been forced you have to do by the industry.
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As interest rates rise, the math says that it's better if invest any spare cash rather than pay down debt, which is at a low fixed rate (house, student loan, small car loan). However, particularly with the mortgage, there is something to be said for the peace of mind of having it behind me and owning my home outright. I'm fully funding my 401(k), and have a six month emergency fund, but until now, any "free cash" beyond that, I've been diverting to the mortgage. As I sit right now, the goal is have it paid off in the next 5 to 7 years. With high yield savings paying about 4% right now, that's a 1% spread relative to my 3% mortgage.
As much as I could try to invest in the market 1) I'm not that good, and 2) the market has more or less peaked, and I don't see another major bull market given that we are seeing the end of the "everything bubble". Once I own the house free and clear, then I'll have plenty of "play money" to invest or whatever and hopefully catch the next upswing.