All Forum Posts by: Brian Mathews

Until you lose your job.   I think you have 60 days to pay it back or it becomes a distribution with all taxes and penalties due.   Tax rate + 10% penalty, so typically around 35% + .   Like borrowing from a loan shark.  It can work, but you better make sure you're job is concrete safe.  

Listening to good ole' Dave Ramsey today.   He was interviewing some author  Can't recall the name and the guy said that 47% of our population could not come up with $400 if they had an emergency without borrowing it or selling something.   

Aside from all the funny comments.  On a serious note, I wouldn't want her to run a business like that at my house as what happens if one of her "clients" trips and falls and hurts themselves and tries to sue you.  I know it can happen even without running a business out of it.   Its a numbers game, the more people that come visit, the greater your chances are for issues.  

I'd get proof of a police report or from the bank and then give them a break.  If they can't produce then it's BS.   I have a Sam's Mastercard and got it hacked at a gas pump last week.   My account with them is locked until they investigate.  

Mail is worthless, especially to a large company.  I get solicitation mail all the time and most of it gets tossed without even being opened.   I might take a look at a postcard since it's wide open to me and requires no work to open.   

@Emmanuella Broadhurst    Are you paying your parents rent with your job or source of income?   Are they able to pay their rent without your help?   If they are able to pay rent themselves without your help, then it is honestly probably best to find a place of your own.   If they are not able to pay it themselves and require your assistance.   Then you have 2 options.    Find a new place to live or negotiate with the owner and sign a new lease.   Its their property, they can do as they want.  

Tenants never get to do repairs on your property.   What if they cut a water line behind the old vanity?   Or don't get the plumbing hooked back up properly and you have water damage?  Or do a crappy job.  You get to pay for it all to get fixed.  I'd tell her the vanity is fine and leave it as is.  Once you start with this, they'll have another project for you to do and 3 more after that.     

If its a leak in the slab from a supply line.   They'll just run a new line through the attic.   I had one about 3 months ago and it cost $1500 to re-run the line and repair the sheetrock.  

Call your insurance company.  Let them know what happened and let them handle it.   They have lawyers to handle this.   If this is a money making venture on your part, forget that.   Just get your house fixed.  Otherwise, you may end up with nothing.  Most attorneys I've talked to charge between 30-35% for a settlement, 35-40% for a trial and up to 50% for an appeal.  

Don't let them fix it.   You get it fixed and then they pay you back for it in a timely manner.    Since they have cousins or friends who kick in doors.   Chances they aren't the cream of the crop of people in terms of the grand scheme of things, which means they have no money.  I would want to see a police report if there is one and if not, maybe file your own.