I hate the times we are living in

[greenbriar]

I went to the bank to get a loan consolidation...

nope, even tho we make over 100 thous a year and I only wanted 21 thous to stop the bleeding interest to the saudi's the bank a CREDIT UNION that I am supposed to be "owner" said we did not have enough assets



well they can asset my ass!!!

I will do it on my own

[greenbriar]

1. shameless rant

over

[Just Me]

8. From some perspectives, yes. From the "American Dream" perspective,...

,...no.

On the one hand, you feel your frustrations a "shameless rant" because you know that at least 65% of the rest of America lives far below your means,...and the rest of the world is living even further down in poverty.

On the other hand, you "bought" into the middle-class "American Dream" where, if you worked hard enough and saved enough and owned enough,...somehow, you would be insured against hardship.

Yes. We were "sold" a dream and have discovered something else.

I understand your dilemma. It is NOT a shameless rant. It's just,..reality,...and "reality" is not easy.

You, me, we,...are not alone. We all "suffer" and "struggle". We just have to hold onto eachother through that process.

[greenbriar]

14. thanks

thanks

[slackmaster]

2. Are you saying you don't have enough equity to qualify for a loan?

Take heart, greenbriar. The bank's underwriting requirements may be unusually strict.

Keep looking around. Applying for a loan at one bank is no longer the way to get things done in this economy. Try a free online service like LendingTree - http://www.lendingtree.com - I used them for a refinance in 2003 and was very pleased with the results.

[Name removed]

3. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Journeyman]

5. Why do you doubt greenbriar's statement. . .

and why the "comrade" comment?

[dhinojosa]

9. Making a 100k is not that complex

Make $2000/wk for 50 weeks and you're there.

[superconnected]

4. there are plenty of other debt consolidation places that will do it for

you. They will do it at a price though, because when you consolidate or take a mortgage you are increasing your debt.

It's best to quit carrying debt. Yeah, a little late now.

Most people who do things like declare bankruptcy which wipes out their debt, go right back into debt. They jump on the first credit cards that come along. Debt consolidation usually hands you some spending money, relieves the immediate toothache, and ups your debt because they charge several thousand. It's on the path to bankruptcy though. This is because how you handle your money isn't likely to change.

My suggestion is you start reading financial books immediately. Nothing else will help you get out of the debt cycle. Avoid the pop culture ones like anything that tells you how to get more credit cards and go for the sound advice classics.

I can't stand robert kiosaki, but rich dad poor dad had some good basic concepts. Only read that one of his, after that he's a scam artist. Stanly and Dankes' Millionaire next door is an excellent financial tomb and so is the Only investment guide you will ever need by Andrew Tobias.

I read a quote that said, it's amazing how people are willing to work 40 hours plus a week and aren't willing to read a book on finance, which is why they work 40 hours a week. So true.

Avoid the eidlemans and suzi orman books, etc. They are bad financial advice. That's the pop culture crap. Kiosakis is pop culture too after his first one.

Honestly, I doubt you will read any of these books, and most likly you'll end up in bankruptcy. Because that's what happens to the vast majority of people. What you're doing now is just prolonging the bankruptcy and ultimatley the bankruptcy won't even relieve the new debt you aquire.

The only think that will help you is getting some financial education. It comes cheap - often a $10 book. Most people aren't going to invest in the most important investment they can though - their brain.

[Hissyspit]

13. Daily Mantra

"I am in the business of getting out of debt"
That is your one true business.

I forget who that is from...

[superconnected]

6. and I'm sorry I sound like such a downer

It's just I've found it practically impossible to help anyone. They think they know it all when it comes to finance and don't want to read anything.

[rzemanfl]

7. Sell yourself to the government. It's the "in" thing to do.

Get a chunk of change for backing them. Or enlist and get the "big" bonus.

[oneold1-4u]

10. Don't knock Bankruptcy!

Thousands of moneyed people, including many past and present politicians all the way to the WH, have been there one to five times.
I know of a couple who have taken both personal and business Bankruptcy. nearly every year they were allowed and in some cases divorced for a period after one of them was allowed assets through the divorce court. Believe it or not they are extremely well off with a great many valuable properties and other assets today.
I once learned in baseball that the rules were to let you know what you can do to win, if it wasn't there you could "do it".
If it is OK for a pres. to bankrupt a country for a century or more, and come out personally far richer than one could imagine, then all the credit you can get, and have what you want, must be the "god-lovin way to go".

[superconnected]

11. I think bankruptcy is a good option, for people that will take longer

than say a few years to pull themselves out of debt. Actually I believe a lot of debt is nearly impossible for people get out of and bankruptcy should be considered.

But, I know people who did bankruptcy that instantly went back into credit card debt. They didn't change. If someone is used to living on credit cards, they will go right back to that even if debt is cleared. They will see it as another opportunity to buy more and live outside their means.

good credit is only good for more credit, and if you quit using credit, it's no different than bad credit, so bankruptcy won't matter. Buying a house and not saving enough for a down payment. will cost big time in jacked interest rates though if someone has a bankruptcy. If you have the money to buy a house on cash out then, no problem. Renting an apartment even requires a credit check btw. Carrying the debt especially if it's big is worse than the inconvience of failing credit checks though so I agree bankruptcy can be good. Or starts that way anyway. Till they abuse their finances again.

I'm not big on credit. I can't actually stand it and I carry no debt.

It's just without reading financial books and changing habits, whoever does declare bankruptcy will be right back there declaring it again, because they grabbed the first credit card offers that came along.

[greenbriar]

12. we are not that desperate

I just wanted to get rid of high interest cards and things that I know are going to saudi money.



I have my own plan.



and yes together my hubby and I clear over 100,000 a year