All Forum Posts by: William Mitchell

Welcome to Bigger Pockets! I am new to all of this too but can assure you, your in the right place!

@Jaquetta T Ragland First, I love your name. My younger sister's name is Jeanette. Yours reminds me of hers. 

I have thought of transferring to a no interest cc as another option. We also have a few luxuries that we could sell all together or rent out. A toyhauler, a flat bed and a SXS all probably should be utilized through rentals or on the chopping block. The more I read through all of your comments the more I realize it's truly a behavior problem.   I appreciate you taking the time to respond. 

@Steve Vaughan  I like that analogy about the pea.  That's why we are here trying to clean up the past so that we can move on to our future. I am thankful with all the members like you willing to spend time to respond and give straight honest advice. 

Thank you so much.

@Theresa Harris  We realize this has to be the first debt before we seriously considered any investment,  The payments are doable it has been a bit too tight. Historically our spending has not been good usually averaging 4-7k in credit card debt but got even worse when I lost my job. Then without much savings it got exponentially worse quickly and was a very scary time. This is what sparked our journey to get some discipline in our lives and try to gain some financial freedom. 

Thank you for advice on the 401k. We realize that behaviors need to change and that we don't want to cover up one (or many) prior mistakes with a bigger one. 

I appreciate you taking the time to respond.

@Jaron Walling

Thanks for the response sir! That is some great advice on calling the banks I will give that a try. Interesting to see how differently people use their debt to ultimately get ahead as you did to flip your primary.  Thanks for the words of encouragement too! 

Thank you for your response! We are just beginning our journey and understand the taking care of the debt and having better habits come first. My company matches up to 6% of my 401k too, It's a great thing! Good to know that they will no longer contribute with a loan out.

Thanks again

@Matt Berres I appreciate your response Matt, My CC debt is 12-16% APR and I am definitely in their pocket. It's a stomach churning feeling for sure.

@Chris Szepessy Thank you so much for the response. I agree that fixing the behavior has to be first. I will definitely read that book, I have heard of it.  Thank you for the suggestion. 

Hey @Ian Walsh thank you for the response. We are just trying to get into a better financial position to be able to invest in real estate. Not too sure in what way at this point.  Several cards all in the 12-16% ranges. Yikes. 

@Joe Splitrock Thank you for your response. I would agree that it is very high and it something we need to address before attempting any kind of investing etc. I was making and spending a lot of money without a lot of regard for the monthly payments or the debt. Obviously not smart but it's the truth. Sometimes you need something bad to happen before you can put things in perspective. I lost my job and was without one for awhile making a debt and not much savings problem much worse. It was a very scary time for us. That is what sparked our journey to take control of our future and our finances and get some discipline in our lives. 

I truly appreciate your feedback and your tough love type response. You are absolutely right. This is just the first step of many in what will be a another successful story thanks to bigger pockets and their great members like you.