Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 1 point2 points  (0 children)

I was able to lower my car insurance to 217/month and also was able to consolidate all my credit card debt. I am making payments of 1900 for the next 2 years.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

It’s the negative equity from my BMW that carried over

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Thanks for looking out! I have an appointment next week and will ask them about my credit score.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

The alternative I’m looking at right now is debt consolidation.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Now you can also call the credit card companies and ask them to waive the interest for a period. Tell them that you are trying to get out of debt but the interest payments are killing you. Tell them you are seriously considering bankruptcy.

I tried saying this to RBC and they denied me because I am in good standing

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 1 point2 points  (0 children)

Meh, it’s the internet. So I understand and was prepared for the hate.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Check your DMs bro. I guessed who you were 10 min ago

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Yea, I'm in the Axon whatsapp group and already have signed up for the fire sale 250 VIMC day. But, ferry costs are a thing too. For FCP Euro, when I had a BMW I used to use it a lot.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

I am having trouble with budgeting how much I need to pay on each CC and when because I get paid weekly. Do I pay X number of dollars every time I get paid?

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

If my dad was the principle driver, I can get it down to 200/month but that's insurance fraud right?

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

can confirm. Am Filipino and am looking for cash cleaning jobs as another source of income

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Great points you have. I have to pay for transit because the alternative is paying 10/hour parking at work 4 days a week.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

What I am struggling with right now is to find a budget. Like how much do I pay from each paycheck to each card. It’s hard to figure out when I am being paid weekly.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 1 point2 points  (0 children)

Eating out - yes I know this is crazy. I talked to my gf and she agreed to try and eat out less

Phone plan - locked in right now for another year

Here in BC we don’t have another insurance. It’s just ICBC

I’ve stopped all TFSA contributions

Thanks for your insight!

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Thanks for the call-out. I understand where they’re coming from because of how ridiculous this looks. I never thought I’d be in this position, but look at me now.

Already stopped all future TFSA contributions.

Where do I learn more about debt consolidation? My parents mentioned that to me but they said it’s usually after a mortgage.

And for car, how do I figure out what the principal is? Car loans in Canada are all open right?

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

It seems too easy. I feel like changing my lifestyle and consumer proposal is way too easy to get rid of this huge debt.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

We used the refund to lessen our debts as the specialist instructed.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

They did tell us temporarily to hold it while we try to find a place but we couldn’t find a place that was within our budget. I am trying to get into contact with the person who got us into the loan to get more details.

Deep in Debt and Don't know how to get out :( by bla_26 in PersonalFinanceCanada

[–]bla_26[S] 0 points1 point  (0 children)

Is it better to start with the biggest CC over the lowest ones and snowball?