I was just providing some general guidelines. A $32 collection with Rogers can be a royal pain depending on the scrutiny of the lender and the financial product. Not all are viewed the same way.
cc in collections - settling vs pay in full
- Thread starter ep1x
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I was just providing some general guidelines. A $32 collection with Rogers can be a royal pain depending on the scrutiny of the lender and the financial product. Not all are viewed the same way.
http://www.daveramsey.com/article/get-out-of-debt-with-the-debt-snowball-plan/
the idea is momentum, my interest rates were all between 20-25%, so I was dinged either way.
I'm not trying to be offensive, it just sucks balls to see people in debt/be in debt. As of October 2012 I owe 0.00 to anyone, aside from rent/cell phone. Its a freaking awesome feeling.
Good luck dude, hopefully you solve this quick.
Maybe I'm missing something (or likely I have to pay $$$ to read more in-depth), but this method seems purely a self-motivating/psychological thing. Hey, if it worked for you and you're debt free, then that's great. But if you're going to give advice, at least explain why your method is more beneficial if it goes against accepted wisdom.
I know this thread is old, but just posting an update.
I bought in for $100 at the casino to play 1/2 nl poker, and ended up going on a heater. Over 8 hrs of play, I cashed out $2600. Paid off Bmo in full, and made put the rest in my savings account. Almost ready to pay visa off in full.
I bought in for $100 at the casino to play 1/2 nl poker, and ended up going on a heater. Over 8 hrs of play, I cashed out $2600. Paid off Bmo in full, and made put the rest in my savings account. Almost ready to pay visa off in full.
Wow. Nice job.
Once you get stuff paid off, I'd start from scratch and learn how to truly live within your means. Gambling as a way to get out of debt might not always work out this favourably.
AHAHAHA AWESOME!
IMMA GIVE YOU MY MONEY.
Now make enough to buy a cb500
ahhaha
Edit) oh and if you can, make minimum payments on that visa. until you can pay in full. in the eyes of credit bureau and what not, the consistency is what helps to save your rating.
@shortstop: yes and no. poker you have a "better control of the game" but then you also get millions of people investing in the stock market which, IMO is the biggest gamble of them all. but it's still viewed as the smart and good thing to do!
i've seen so many people go broke (over bad decisions)... but if he's able to be good enough at calculating his odds at poker, at least there are rules there that can be understood clearly. markets though... :/
IMMA GIVE YOU MY MONEY.
Now make enough to buy a cb500
ahhahaEdit) oh and if you can, make minimum payments on that visa. until you can pay in full. in the eyes of credit bureau and what not, the consistency is what helps to save your rating.
@shortstop: yes and no. poker you have a "better control of the game" but then you also get millions of people investing in the stock market which, IMO is the biggest gamble of them all. but it's still viewed as the smart and good thing to do!
i've seen so many people go broke (over bad decisions)... but if he's able to be good enough at calculating his odds at poker, at least there are rules there that can be understood clearly. markets though... :/
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Well, I didn't advocate investing in the stock market either. I simply suggested learning to financially live within one's means. That way one doesn't have to depend on gambling/poker/whatever in order to dig themselves out of a debt hole.
Yeah true... im just reflecting on what "society" portrays as an evil gambling and good gambling
