When is enough to say when.
Race Director
Joined: Apr 2004
Posts: 16,135
Likes: 5
From: Newberry FL
Cruise-In VIII Veteran
St. Jude Donor '07
Originally Posted by XCELER8
30
I gave up a 50k dollar job just so the family would move up here to Lakeland and get this house. The house is insane and one of a kind. Figured, I could always build another car, cant get a house like this to often for the money.
Jon
I gave up a 50k dollar job just so the family would move up here to Lakeland and get this house. The house is insane and one of a kind. Figured, I could always build another car, cant get a house like this to often for the money.
Jon
Le Mans Master
Joined: Feb 2002
Posts: 5,407
Likes: 1
From: HONOLULU HAWAII
You need some serious credit counselling. At 30 years of age you should have your priorities in line and a strategy to get you there. It appears you spent more money when you had less or none coming in. Hey we all love our cars but you have to draw the line somewhere. In your case you have to go into recovery/salvage mode. Once your credit reports goes south, it will take forever to recover.
I do wish you luck...
I do wish you luck...
Safety Car
Joined: May 2004
Posts: 4,487
Likes: 5
From: Naples Florida
It is not the car , you have some serious spending problems. If it was not the corvette it would be something else. You said you left a 50K job? I would have thought you made much more than that with all the modding you have done. Good luck, we all have to live within our means.
Team Owner
Joined: Jul 2004
Posts: 38,655
Likes: 25
From: Bunnell FL
Jon,
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
Melting Slicks
Joined: Apr 2005
Posts: 3,469
Likes: 4
Originally Posted by Trainman-2
Jon,
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
Seriously... slow down, watch your dollars and always keep your eye on your long-term financial security. You'll enjoy life's luxurues even more when they're paid for –*not when they're weighing you down.
Keep at it and keep your chin up. You CAN get out of this hole.
Drifting
Joined: Oct 2004
Posts: 1,413
Likes: 0
From: Greensboro, NC "REALITY IS MERELY AN ILLUSION, ALBEIT A VERY PERSISTENT ONE"...ALBERT EINSTEIN"
St. Jude Donor '05-'06-'07
Originally Posted by Trainman-2
Jon,
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
You should refinance all of your credit card debt as soon as you start a new job!
Go to the bank that holds the mortgage on your house and talk to the head guy. Loan Officers all work from a "Book of Rules" and they are not allowed to break them.
Explain to the head guy that you already have all of the cc debt and that if he will give you a personal loan or better yet a second mortgage (interest is tax deductible) you can save a bunch of money paying down your dept.
What you have to do is convince the head bank guy that you are a solid young man who is going to stay in the area and prosper.
This can be done! I have done it before!
Don't forget, you are selling yourself and your personal honesty and sincerity!
Seriously... slow down, watch your dollars and always keep your eye on your long-term financial security. You'll enjoy life's luxurues even more when they're paid for –*not when they're weighing you down.
Keep at it and keep your chin up. You CAN get out of this hole."
I agree with both of these posts. Be careful not to get in the same spot again. I went through this in my late 20's. Refinanced everything and consolidated my CC's. Had a few extra dollars in my pocket and went back to running up the balances.
Thank goodness the second time around I figured it all out. Live (well) with in your means.
Good Luck and keep us posted!
.
Last edited by NCSU SEE 5; Aug 3, 2005 at 08:07 AM.
Le Mans Master
Joined: Jan 2002
Posts: 7,275
Likes: 19
From: Camden County NJ
Originally Posted by Sox-Fan
when ((ability to pay for ALL of your bills) + (planning for your future)) - (mod burn out factor) > (monthly payments) it's time.
interesting forumla...that is why I only mod when I know the money will be there to pay it off when the bill arrives.
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Race Director
Joined: Nov 2001
Posts: 11,530
Likes: 0
From: New Bloomfield Pa
Cruise-In VI Veteran
St. Jude Donor '03-'04-'05-'06-'07-'10
I have been to that point for a while with no twanting to do any more mods ( not money I make sure I pay cash or I dont play)
I have not spent any money on my car in a long time and I have no plans to do anything else.
To be honest I dont drive the car much and I am getting tired of the shows and some of the people at the shows.
Things have really changed in the last year or so and that is why I am looking at moving my car.
Tough part is trying to get fair market value for the car
I have not spent any money on my car in a long time and I have no plans to do anything else.
To be honest I dont drive the car much and I am getting tired of the shows and some of the people at the shows.
Things have really changed in the last year or so and that is why I am looking at moving my car.
Tough part is trying to get fair market value for the car
Last edited by iceburgh; Aug 3, 2005 at 10:46 AM.
Cherish your Hopes...
Joined: Feb 2002
Posts: 13,074
Likes: 236
From: West Palm Beach FL
Cruise-In VII Veteran
St. Jude Donor '05-'06-'07
Jon...I think your keeping the vette and will spend any amount of money to remain unmarried...
...so if you want to get married and the obstacle is the vette...
remove the obstacle...
...nothing kept you from spending every dime you dont have
peace
Stu (Pastor)
...so if you want to get married and the obstacle is the vette...
remove the obstacle...
...nothing kept you from spending every dime you dont have
peace
Stu (Pastor)
Le Mans Master
Joined: Oct 2004
Posts: 6,384
Likes: 0
From: Toronto,Ont.Canada
pay cash, or don't buy it.
I agree w/h most of these guys, you need to sit down w/h a credit specialist and look at your options as we don't know everything about you. They would have the best possible plan for you at this point.
btw, pm me a price on selling your car..
I agree w/h most of these guys, you need to sit down w/h a credit specialist and look at your options as we don't know everything about you. They would have the best possible plan for you at this point.
btw, pm me a price on selling your car..
Melting Slicks
Joined: Jan 2005
Posts: 2,409
Likes: 34
From: St. Louis Missouri
Get yourself another job so you can start making some payments on the debt you have. If you have been out of work for 5 mo's with no income, it is time to go back to work. Good luck on your next interview.
Drifting
Joined: Jan 2005
Posts: 1,600
Likes: 0
From: Spring Hill, Florida Life is all about new beginnings;...TRY ONE!
St. Jude Donor '07-'08
I learned never to finance toys, that way I own it and can put it off to the side; work out lifes problems, and then it will still be there waiting for me when I have them solved.....Good luck!
Race Director
Joined: Jun 2004
Posts: 19,459
Likes: 48
From: Schaumburg IL
CI 7-8-9-11 Veteran
St. Jude Donor '06-'10, '13
I am about the same age and I started down that same path this spring when mod-fever hit... first it was the cat-back exhaust, then headers, then CCW wheels..I paid some of this off, but still owe on the wheels..I was gettting ready to do a heads-cam package, I mean really close, and then something inside me said :
"don't do it buy the townhome you have been putting off buying because you are modding your car which you will probably get tired of in about 3-4 years and want a new one anyway"
CC debt is a vicious cycle and I am glad I came to me senses
Good luck, and I hope you can get it under control and get that new job
"don't do it buy the townhome you have been putting off buying because you are modding your car which you will probably get tired of in about 3-4 years and want a new one anyway"
CC debt is a vicious cycle and I am glad I came to me senses
Good luck, and I hope you can get it under control and get that new job
Burning Brakes
Joined: Apr 2004
Posts: 1,235
Likes: 2
From: Haymarket VA
CI 7-8 Veteran
The man speaks the plain truth. Nickel and diming your way along can be a real PITA, but there is also significant $$$ to be saved by doing it concientiously. Start by making yourself a budget and sticking to it. Sell the car only as a last resort. I guarantee you'll regret it if only because of the bath you'll take on the selling price. Best of luck to you.
Race Director
Joined: Nov 2001
Posts: 11,530
Likes: 0
From: New Bloomfield Pa
Cruise-In VI Veteran
St. Jude Donor '03-'04-'05-'06-'07-'10
If you have not had a job in 5 months you need to get to work....doing anything to make some money even if it is not what you want. If you have to flip burgers then do it. Anyone who wants to work is working...there are enough jobs out there.
One thing I have seen as of late and with many peoplpe on this forum is that many are trying to keep up with the Jones... Dont try and prove something to anyone but yourself. As long as you like your car that is all that matters. Many people here want bragging rights at all cost.
I know many people on here some have more money than one person should be allowed to have and then there ar eothers that dont have a bucket to **** in and still others who dont have a bucket to **** in but put on the show that they are loaded and can have anything.
At the end of the day it all comes down to being able to provide and making yourself happy.....dont worry about anyone else and check your egos at the door.
I have been blessed to have some nice things...however both my wife and myself work 2 jobs and both work hard to make a good living
One thing I have seen as of late and with many peoplpe on this forum is that many are trying to keep up with the Jones... Dont try and prove something to anyone but yourself. As long as you like your car that is all that matters. Many people here want bragging rights at all cost.
I know many people on here some have more money than one person should be allowed to have and then there ar eothers that dont have a bucket to **** in and still others who dont have a bucket to **** in but put on the show that they are loaded and can have anything.
At the end of the day it all comes down to being able to provide and making yourself happy.....dont worry about anyone else and check your egos at the door.
I have been blessed to have some nice things...however both my wife and myself work 2 jobs and both work hard to make a good living
Drifting
Joined: Oct 2002
Posts: 1,748
Likes: 0
From: Titusville FL
If your goal is to get married, $$$ should not be an obstacle. I know that expensive huge weddings are the trend, however it doesn't have to be. Actually some of the best weddings I have been to were the ones that came in at a reasonable price. Heck, my wedding (of course it was 10 years ago) was under $5k for just about everything. And I had just graduated college and did not have a very good paying job.
Since you already know you will most likely lose out if you sell the car, why not keep it, get married, and then you and your wife budget for the next few years. When my wife and I were first married, we definitely struggled to make ends meet. However we always figured out a way to make it and it made us even closer. And remember, there is one thing you can do with your wife that is VERY cheap
Just make sure you use Birth Control, or it will get expensive 
Since you already know you will most likely lose out if you sell the car, why not keep it, get married, and then you and your wife budget for the next few years. When my wife and I were first married, we definitely struggled to make ends meet. However we always figured out a way to make it and it made us even closer. And remember, there is one thing you can do with your wife that is VERY cheap
Just make sure you use Birth Control, or it will get expensive
Last edited by Spacecoast; Aug 3, 2005 at 10:56 AM.
Intermediate
Joined: Jul 2005
Posts: 48
Likes: 0
HOLD UP......., WHATEVER YOU DO DONOT SELL YOUR CAR. Listen man, keep your car.....get the new job............WHATEVER YOU DO DONT GET MARRIED YET!!!.........and just pay as much as you can on the credit card...................who knows a year down the road you might get a even higher paying job and be able to pay off the credit card debt in no time or you could possibly win the lottery or you could relize that property value is going up rapidly and possibly another couple years down the road your house value could be worth a whole lot more than you payed and you could sell the house and with the profits you made off of it you could pay off your credit card..........or if your girlfriend is rich you could marry her and inharit some $$. YOU JUST NEVER KNOW........and i believe that everyone has something in their life that they really enjoy doing and if its tinkering with your car and putting a lot of money on your credit card so be it!! At some point you got to say what the F*@k and just go with it you know.. SO please man WHATEVER YOU DO DONOT SELL YOUR CAR BRO.........I WOULD LIVE WITH MY PARENTS BEFORE I SOLD MY CAR!!!!!!!!!!!!! Good luck man....