Desperately need financial advice...

[Egon Spengler]

Hey Guys.
I am in quite the pickle right now. My friend that I have been living with told me it is time to move on, but that I can stay for a couple more months until I find a new place. He was giving me a good deal and I bought my motorcycle and have to make payments on it. I thought I could swing this with the payments I was making to my friend and he knew I was buying a bike, so I kind of wish he told me this before I bought the motorcycle! Right now I am making payments on my car and my bike along with credit card, insurance, and rent. I owe about 18 more months on the marauder and the motorcycle is just over 4-1/2 years left. My credit card is around $3,000.00. Is there any way to consolidate and lower my payments? I wish I had the marauder paid off because that would be $350.00 a month that could go towards a sweet pad for myself. If you do the math 18x350=6300 which is what I have left on the marauder. I would rather not make all my debt public, but would feel comfortable pm'ing someone that I trust on this site. Also, would take any advice you can give in this thread. I really need to find a way to free up more money so I can afford a place that I want and where I want! Do I need to go speak with my banks that I have loans with? What can I do to free up some loot? I appreciate any help you guys can provide. :beer:

[MM2004]

What you may not want to hear...

Sell the bike and get out from under it.

Considering the shape you are in, and needing a roof over your head outweighs a 'luxury' item such as a bike.

Selling it would free up a little more cash as you wouldn't have insurance payments on the bike to contend with.

You have a couple months to get your finances in order and should be a good time of year to put the bike up for sale.

I am not a financial advisor, but times are tough and you need to look at what is necessary versus what is not.

Best of luck!

Mike.

[CBT]

Sell/let go motorcycle, move in with girlfriend.

[Egon Spengler]

I was thinking about selling the bike as well, but my issue is who is going to want to buy a motorcycle where they have to wait for the title to get freed up from the bank (which takes an eternity). Also, I owe more than the motorcycle is worth. If I were to get a buyer, can I roll the leftover from the motorcycle loan over to the marauder loan or into a personal loan? I really screwed the pooch on this one.

[Zack]

Tell GF to get 2nd job, keep toys.

[DeadVic]

if you can't let the bike go for whatever reason you could refinance the Marauder at a credit union to raise a bit of cash. it just takes you further into a hole tho. what about trying to find a better paying job?

[Egon Spengler]

Tell GF to get 2nd job, keep toys.
Girlfriend has two jobs already and is paying for school and a new car that she just bought that she desperately needed! haha. I really wish I could come up with the 6300 I need to get the marauder paid off. $350 a month in the pocket would really help!

[Zack]

Tell GF to get 3 jobs, keep toys, lol

[Zack]

Do you have 2 jobs?

[dakslim]

Sell/let go motorcycle, move in with girlfriend.

+1^^^^^I agree 100%

[ctrlraven]

Thought about selling off some of your other stuff or pick up a 2nd or even 3rd job?

[Egon Spengler]

I have a second job as a call firefighter and can pick up weekend shifts etc. I can do that, but even still, I would need a little more than what the FD can provide me for hours.

[RF Overlord]

Without knowing your entire financial picture, it's difficult to offer advice over the internet. The most obvious thing would be to sell the bike, as it's a luxury, whereas the car is more or less a necessity. Definitely talk to your bank/credit union; they may be able to restructure and/or consolidate your loans. Although you'll be extending your debt, it may get you out of your immediate predicament.

[FordNut]

Sell the bike, pay the loss out of pocket (credit card). Chalk it up to tuition for a life lesson.

[Egon Spengler]

Without knowing your entire financial picture, it's difficult to offer advice over the internet. The most obvious thing would be to sell the bike, as it's a luxury, whereas the car is more or less a necessity. Definitely talk to your bank/credit union; they may be able to restructure and/or consolidate your loans. Although you'll be extending your debt, it may get you out of your immediate predicament.
This is what I was kind of looking for. I need to find a way to free up my car payment. I have seen some people looking for house mates (same thing I am doing now), but don't know how it would be living with a stranger. It might be a good alternative to do that for a year until I get the marauder finalized. The problem with selling a bike in the fall is it is a hard sell and you are going to get the money that it is worth for it.

[GAMike]

Just a thought over and above selling the bike..... If you are going to be renting, look for cheaper alternatives. That money goes poof every month, so it would be like paying yourself vs. burning it.

Good luck. I would guess most of us have been there at one time or another.

[CBT]

When I told my ex I couldn't take it any more a few years ago, she naturally kicked me out and 'gave' me 500 a month (of my own ****ing money!) to live on. I sent out an e-mail to all my friends here locally and was promptly taken in by the lovely Marlayna. Within a year I had my 2 cars back, my house, and my oldest daughter. Tough times call for tough measures, I didn't like what I had to do (giving up my cars:o, the house:(, my daughters:mad2:, asking for a place to live) at first but it worked out. Lots of folks hit a rough patch and have to make the right decisions, which are not always the decisions you want to make.

[Egon Spengler]

I guess my next question is how do I go about selling a bike that "technically" isn't mine? How do I free up the title from the bank to be able to give to the buyer and then what do the bank and myself do about the left over money owed?

[magindat]

See if your bank or another bank will refinance the car and absorb the credit card.

Housemate with a stranger isn't bad. Be aware it's potentially an emotional situation unlike renting your own space and may get ugly forcing you to move along quickly.

I had success renting 'mother in law' style - self contained - non-shared spaces many folks have such as converted garage, small apartment, etc.

Also check into extended stay type places. Rent can be mad cheap for those on the long term.

I once rented a room in an old Holiday Inn building where they built a new HI Express in front of it. The old building was long term. Washed sheets, linens and vacuumed once a week. Was $350/mo. Was a lot like a studio apt.

Also check one-room studio apts. They are usually really cheap.

If you've been with the GF a long time, you may consider this the impetus to take the next step with her and move in - esp if it would benefit you both.

[CBT]

I guess my next question is how do I go about selling a bike that "technically" isn't mine? How do I free up the title from the bank to be able to give to the buyer and then what do the bank and myself do about the left over money owed?
You advertise it as "Take over payments" instead of for sale.

[magindat]

I guess my next question is how do I go about selling a bike that "technically" isn't mine? How do I free up the title from the bank to be able to give to the buyer and then what do the bank and myself do about the left over money owed?

If the buyer pays cash, they make the check out to your bank and the bank sends them the title. If the buyer is getting a loan, their bank handles retrieving the title.

Both situations are common and your bank can and will accommodate.

[magindat]

You advertise it as "Take over payments" instead of for sale.

Can't do that unless buyer is approved by the bank. Otherwise he holds the note and is still responsible for payments and ins.

[FordNut]

I guess my next question is how do I go about selling a bike that "technically" isn't mine? How do I free up the title from the bank to be able to give to the buyer and then what do the bank and myself do about the left over money owed?

Technically it is yours, but the bank holds the title until the loan is paid off. You sell the bike, most buyers understand that if there is a lein the title has to come from the lender. The buyer meets you at the bank, they pay the agreed upon price and you pay the rest. The bank stamps the title and signs off that the lein has been satisfied and gives it to the buyer.

[FordNut]

You advertise it as "Take over payments" instead of for sale.


Can't do that unless buyer is approved by the bank. Otherwise he holds the note and is still responsible for payments and ins.

As a seller I would never do this. It leaves you on the hook if the new owner defaults.

[magindat]

On the other hand, you can stop paying for the bike or the credit card. It will eat up your credit, but otherwise no harm.

You can speak to each lender about hardship and restructuring of payments. Although, most wont do a thing for you until you're approaching 90 days late.

What's important is a roof over your head and your car so you can work. Outside of that, if the worst happens, let em take the bike and bug the hell out of you for the credit card. Sometimes that stuff happens....

[CBT]

Can't do that unless buyer is approved by the bank. Otherwise he holds the note and is still responsible for payments and ins.
Tue, my example was vague. From a strictly get rid of it and not make a profit standpoint, have someone "take over payments" via bank loan for the amount he owes, would be one way to sell it.
Could also just let the bank have it back and immediately have extra money in your pocket. :D You're credit will recover.

[FordNut]

On the other hand, you can stop paying for the bike or the credit card. It will eat up your credit, but otherwise no harm.

You can speak to each lender about hardship and restructuring of payments. Although, most wont do a thing for you until you're approaching 90 days late.

What's important is a roof over your head and your car so you can work. Outside of that, if the worst happens, let em take the bike and bug the hell out of you for the credit card. Sometimes that stuff happens....

I would never advise someone to do this. The claims are that it hurts your credit for 7 years then it goes off your record. Don't believe that for a second. If you ever have to get a job that requires a security clearance you will discover that the 7 years or 10 years that they supposedly go back on your background check is a myth. They go back FOREVER.

[CBT]

I would never advise someone to do this. The claims are that it hurts your credit for 7 years then it goes off your record. Don't believe that for a second. If you ever have to get a job that requires a security clearance you will discover that the 7 years or 10 years that they supposedly go back on your background check is a myth. They go back FOREVER.

You have to give your life history (at least I do), that is true, but so-so credit will not stop you from getting a Secret clearance, but debt sure will. If having jacked up credit would get your Secret clearance pulled, I would be having mine pulled. Alot.

[Egon Spengler]

I would be having mine pulled. Alot.
Ewwwwwww haha. But I would love to find a studio or a inlaw apartment for a short period. I am really only home to sleep and do private things with the misses. All I need is a bed and a full bath and I am good! haha

[Blackened300a]

Have you seeked a debt consolidation service? That seems to be all over the radio and TV around here. I would look into getting rid of the bike. Its a luxury item and can be replaced easily once you get back on your feet. A place is much more important then a bike especially since winter is around the corner and you can't ride it anyways. You can also try swapping out your credit card to another card that offers 0% interest for the first year. That would help you pay off your principal debt instead of paying interest frees on top of it. Another idea is re-finacing the marauder at a lower APR and extending the plan. It will lower your payment considerbly, but you'll be making payments longer. You can also look into cutting your weekly costs. Maybe cut on food expenses and pleasure expenses. Try driving the Marauder as little as possible to save on gas.
Other then that it will be on you to get your ass motovated and find side work or a cash job to make ends meet until you get the car paid off and out of debt. You should be speaking to a financial advisor not a bunch of car guys who will just throw dumb suggestions your way.

[Haggis]

Move in with GF and have her get a job as a striper and payoff your debt.

[Egon Spengler]

Have you seeked a debt consolidation service? That seems to be all over the radio and TV around here. I would look into getting rid of the bike. Its a luxury item and can be replaced easily once you get back on your feet. A place is much more important then a bike especially since winter is around the corner and you can't ride it anyways. You can also try swapping out your credit card to another card that offers 0% interest for the first year. That would help you pay off your principal debt instead of paying interest frees on top of it. Another idea is re-finacing the marauder at a lower APR and extending the plan. It will lower your payment considerbly, but you'll be making payments longer. You can also look into cutting your weekly costs. Maybe cut on food expenses and pleasure expenses. Try driving the Marauder as little as possible to save on gas.
Other then that it will be on you to get your ass motovated and find side work or a cash job to make ends meet until you get the car paid off and out of debt. You should be speaking to a financial advisor not a bunch of car guys who will just throw dumb suggestions your way.
Thanks for the advise. I came to you guys knowing that I would get burned and thought I would get flamed worse than I actually am! I appreciate everyone's help and advise. As for the financial advisor, I was hoping that someone on the site might have some knowledge on the subject or had gone through a similar thing. What has been said, though it seems obvious, has helped. Bike is going up for sale. Am going to speak with the bank I have the loan with and see how I would go about handling such a transaction and then going to the bank for my marauder and seeing is I can eat up the credit card and what I owe on the bike into that loan and extend it out a bit. I appreciate all your advise and will continue to take suggestions.

[magindat]

A 3K credit card, car payment and bike payment are hardly financial advisor material.

If there's only 1 card, there's nothing to 'consolidate' as far as those services go.

If you are only home to sleep and ;), consider grocery shopping, taking your lunch to work, and cooking rather than eating out.

[RacerX]

Have you seeked a debt consolidation service? That seems to be all over the radio and TV around here.
A lot of those will pout you in more debt once their done with you. Look for government/state agencies that offer free advice and knowledge.

[Bluerauder]

Have you seeked a debt consolidation service? That seems to be all over the radio and TV around here.

I see the same thing here in Virginia .... lots of mailings and advertisements from people willing to consoldate your debts or even combining your credit cards for a lower interest rate. Be cautious that you will actually IMPROVE your situation and not just make it worse or lengthen it.

If I were in the same situation, I would seriously consider getting rid of the motorcycle even if it means an up front loss. As others have indicated, this appears to be a luxury item.

Just an observation (which may or may not be accurate) but that motorcycle may actually be the "bone of contention" with your roommates decision to "Move On". Seems that he was giving you a break on rent probably because of your financial situation at the time. If he was letting your part of the rent be under market rate, maybe he felt that you should have kicked in a bit more rent instead of splurging on the motorcycle. Just a thought. You may want to approach him on this. Maybe you can dump the bike and bump up the rent and gain a bit of reprieve on the apartment. Probably nothing harmful in at least asking.

I thought your 2nd job was as a Volunteer Firefighter or Paramedic. If this is the case, it seems you may need to get a 2nd job that pays the rent ILO volunteer work.

[Egon Spengler]

A 3K credit card, car payment and bike payment are hardly financial advisor material.

If there's only 1 card, there's nothing to 'consolidate' as far as those services go.

If you are only home to sleep and ;), consider grocery shopping, taking your lunch to work, and cooking rather than eating out.
Yes, only one credit card. Total debt to car, bike, and credit card is around $23,500.00 at the moment.

I hardly ever make my own food and spend a lot of time at Subway and have realized that will have to cease. I drive the marauder as little as possible and try to ride the motorcycle on the weekend to save on gas for the time being.

As stated, bike needs to go and I need to talk to both banks that have the car and bike loans to see what I can do.

[PonyUP]

There are a few avenues to pursue, like some have said you can refinance through a credit union. This will extend the payments and make you pay even more for what you already owe, but could provide a short term solution. If you upside down on the bike (Owe more than it's worth) then selling it may not be the best option as you are still going to have to make payments on it. Depending on how upside down you are that is. If you are only talking $1000, sell the bike, roll the grand into the credit card, live free and prosper.
Although this is not the strongest idea, it may work for you. If you are looking to get over the humo for the next year and only owe 3G on the cc, make the minimum payment only, this will free up a few hundred a month. This won't work towards paying your credit card, and will barely even pay the interest, but it will free up some cash.
Another idea, again as a short term solution, but not as positive financial advise. Credit cards often offer using there checks (Which is a higher interest rate than you regular charges) to pay off balances on "specials" (No interest or payments for 6, 9, or 12 months) Roll some debt on to this, pay what you can during the period. Do not roll all your debt into this as once the "special" period is over, if you still have a balance, you will pay interest on the original transfer.

Or if the Girlfriend is okay giving happy endings, put an ad out on the internet and put her to work as an erotic massuese.

Best of luck man

[Paul T. Casey]

You have to give your life history (at least I do), that is true, but so-so credit will not stop you from getting a Secret clearance, but debt sure will. If having jacked up credit would get your Secret clearance pulled, I would be having mine pulled. Alot.

I can get you denied if going after a DOE Q or L.

[MrBluGruv]

I hardly ever make my own food and spend a lot of time at Subway and have realized that will have to cease. I drive the marauder as little as possible and try to ride the motorcycle on the weekend to save on gas for the time being.

I recently went from going out to lunch every of the week to packing a sandwich and a can of soda, the savings are RIDICULOUS.

My meals were, let's say roughly $6.50-$7 every day eating out, so that's ballpark 32.50-35 a week that I'm saving. This is Texas money I'm talking here btw, so it may be more costly where you live.

Figure the cost of a loaf of bread probably once a week (I may a 4-slice crunchy PB stack sandwich, plus a 12-pack of sodas and a jar of peanut butter every two weeks-ish, I'm pretty sure that doesn't even come close to 32.50 a week on average.

Try to by store-brand foods, always order water when you go out to eat. Plus I think they have hungryman meals at wal-mart for like $0.89 a meal, although your long-term health detriment from that stuff may not be worth the minimal savings...

It may be a bland diet, but you can save LOTS if you really focus on the expenses of your diet.

[Egon Spengler]

I recently went from going out to lunch every of the week to packing a sandwich and a can of soda, the savings are RIDICULOUS.

My meals were, let's say roughly $6.50-$7 every day eating out, so that's ballpark 32.50-35 a week that I'm saving. This is Texas money I'm talking here btw, so it may be more costly where you live.

Figure the cost of a loaf of bread probably once a week (I may a 4-slice crunchy PB stack sandwich, plus a 12-pack of sodas and a jar of peanut butter every two weeks-ish, I'm pretty sure that doesn't even come close to 32.50 a week on average.

Try to by store-brand foods, always order water when you go out to eat. Plus I think they have hungryman meals at wal-mart for like $0.89 a meal, although your long-term health detriment from that stuff may not be worth the minimal savings...

It may be a bland diet, but you can save LOTS if you really focus on the expenses of your diet.
Am going to drastically cut back on eating out. I figure I would save around $75.00 a week by staying home and cooking.

Can you say when a woman comes between friends?!?!

[MM2004]

Am going to drastically cut back on eating out. I figure I would save around $75.00 a week by staying home and cooking.

Can you say when a woman comes between friends?!?!

$75.00 x 4 = $300.00.

You're on the right track now.

Look for more ways to save $$.

Mike.

[illwood]

I see the same thing here in Virginia .... lots of mailings and advertisements from people willing to consoldate your debts or even combining your credit cards for a lower interest rate. Be cautious that you will actually IMPROVE your situation and not just make it worse or lengthen it.

If I were in the same situation, I would seriously consider getting rid of the motorcycle even if it means an up front loss. As others have indicated, this appears to be a luxury item.

Just an observation (which may or may not be accurate) but that motorcycle may actually be the "bone of contention" with your roommates decision to "Move On". Seems that he was giving you a break on rent probably because of your financial situation at the time. If he was letting your part of the rent be under market rate, maybe he felt that you should have kicked in a bit more rent instead of splurging on the motorcycle. Just a thought. You may want to approach him on this. Maybe you can dump the bike and bump up the rent and gain a bit of reprieve on the apartment. Probably nothing harmful in at least asking.

I thought your 2nd job was as a Volunteer Firefighter or Paramedic. If this is the case, it seems you may need to get a 2nd job that pays the rent ILO volunteer work.

Charlie has quite a few good points here. I have heard that some of the debt consolidation services tell you to pay them and ignore the bills and they will pay off the credit card / loans / whatever and then they don't pay anything, so now, you owe what you did before and whatever was part of the crooks deal.

As for your old situation about renting with your friend, what Charlie is saying also makes sense. Didn't know if you looked into it further.

[88LTDCV351]

There is always moving back in with parents, sister's family, brother's family, etc. Its not desirable but a lot of us have been there when in dire straights. If things are that bad, you got to do what you got to do. Temporary moves like this can work out great sometimes, at least for your finances. And blood is thicker than water.

[88LTDCV351]

I heard the debt consolidation places do things for you at a cost that you can do yourself. And often times they screw things up worse and leave it in your lap because they still get paid and they don't have your vested interest. And the government has the same services for free a lot of times.

[jflave]

If nothing else works out would mom & dad let you move in with them ? :dunno: May have too for a while.

[Mr. Man]

See if a bank will give you a consolidation loan where all your debt is restructured into one loan and one payment. Might free up some cash and you may even get a lower interest rate. Might be worth checking into, or you could sell your body like CBT does:puke:. He told me at MV8 it's good for 5-6 dollars a nite x 30 = 150-180 a month. your halfway there:)

[88LTDCV351]

Drive like grandpa and use cruise control to save on gas. Plan your trips so you don't double back. Skip things like Starbucks. Unplug your electronic devices that sap power when they are off. Lots of little things that really do actually end up adding up.

[88LTDCV351]

There is also public transportation and carpooling. I saved many a miles on my Marauder this way and had extra money to show for it. Your auto insurance will also reduce your premium if you tell them you drive less miles.

[88LTDCV351]

Maybe you can get added to your parents family cell phone plan? Drop your own plan. I did that once.

[88LTDCV351]

And look for deals and use coupons. I don't go fast food ever now unless I have a coupon. And I cancelled cable and watch all my favorite shows on the internet and netflix instant streaming.

[88LTDCV351]

Make sure you know the benefits they offer at work. For instance, I found out my employer had a commuter plan for public transportation and I could have gotten some of my train tickets at a discount or tax free.

[Egon Spengler]

Oh, and I am involved in a lawsuit at the moment where they want $3,400.00 from me. I have a lawyer who is trying to get that lowered for me. He has offered a settlement price and we are waiting to hear back. Long story...

[88LTDCV351]

Don't be afraid to buy stuff at the Salvation Army thrift store or Goodwill. Also, the dollar store has shaving cream for $1. Be careful on some of their stuff as Wal-mart sometimes beats them, i.e. soups are cheaper at Wal-mart.

[Egon Spengler]

Don't be afraid to buy stuff at the Salvation Army thrift store or Goodwill. Also, the dollar store has shaving cream for $1. Be careful on some of their stuff as Wal-mart sometimes beats them, i.e. soups are cheaper at Wal-mart.
I appreciate your help and have taken a lot of your suggestions into consideration. I was more looking for advice to solve my big ticket items. Looking for banking advice as to how I could solve the BIG payment items.

[1 Bad Merc]

I would ask your bank/credit union to see if you can consolidate the loans. That alone will save you some money. If they wont then get rid of the bike. You have learned a valuable lesson about bikes...they do not retain their value and drop immediately when you drive them off the lot. Always buy a used bike.

Also check and see if you can increase your insurance deductible and lower your insurance payments. I have mine set high as I figure I will only use it on an accident claim.

My third suggestion is quit trying to live paycheck to paycheck -in other words dont buy the luxury item (Bike) until you really can afford it. I believe you are realizing this now. Get yourself straightened out and put some money in the bank for emergencies. Just because you have a few dollars left over every week does not mean you should go and spend it! You always have to have some emergency money stashed in case of bad times or major problems :0).

Good luck!

[Egon Spengler]

My third suggestion is quit trying to live paycheck to paycheck -in other words dont buy the luxury item (Bike) until you really can afford it. I believe you are realizing this now. Get yourself straightened out and put some money in the bank for emergencies. Just because you have a few dollars left over every week does not mean you should go and spend it! You always have to have some emergency money stashed in case of bad times or major problems :0).

Good luck!
Thanks. I have emergency money, but am trying not to tap into it. Plus, I bought the bike thinking that I would be living where I am just a little while longer, but was abruptly told to start looking for a place. I am great with managing money, but I was caught off guard on this one.

[steve fox]

Practice your new job spiel then target the requisite employers close to home. One choice; "you want fries with that?" Probably find six part time jobs if you pronounce it clearly. You can sleep when you are old.

[Egon Spengler]

Practice your new job spiel then target the requisite employers close to home. One choice; "you want fries with that?" Probably find six part time jobs if you pronounce it clearly. You can sleep when you are old.
Am going to see what the fire department can do for me. I know I can pick up shifts with them as well as attend drills and calls (as I do already)

[Rocknthehawk]

Tom, I didn't read the whole thread, but if you're looking for a place, my boss has an apartment about 2 minutes from where I see your car every day. He is moving into the first floor (owned the building for 20+ years, getting divorced now), the second floor is open and ready to rent, and the third floor is his nephew a corrections officer. A big plus in the 'burg is offstreet parking, secluded.

if you're interested i can give you some more info.

as for financial advice, i had a small personal loan, the bank added my credit card debt to that (at the suggestion of the financial advisor there), and i went last week to talk about consolidating two personal loans at a lower rate. There's a potential, at least i know i had/have a chance, that you can sell the bike and take the hit. Say you're upside down $2k, then add your $3k cc debt to that as a $5k personal loan at around 11% (my current CU's rate) over 3 years, you're in the $150/month range, and don't have to worry about your credit card anymore. I know my card interest was at like 22%. After paying $100-200/month and realizing a year later i didn't owe any less, I needed to do something about it.

cutting back will be key, I had to do the same when an emergency situation came up and I needed that small loan for $3000. I stopped eating out, stopped going back and forth to Boston every week, and cut back with the misses. She understood and we make it work. Instead of going out for dinner and a movie (figure an easy $100), we'll stay in and find one on Netflix and make dinner. An easy meal for two can be made for under $20, and then eat the leftovers for lunch the next day.

[RF Overlord]

As others said ^^^, be VERY careful of the so-called debt consolidation services. Some are run as non-profits and actually do try to help, others just want your money and while giving short-term (and false) hope, will leave you in much worse shape in the long term.

No such thing as a free lunch, yada, yada, yada...

[Joe Walsh]

I see the same thing here in Virginia .... lots of mailings and advertisements from people willing to consoldate your debts or even combining your credit cards for a lower interest rate. Be cautious that you will actually IMPROVE your situation and not just make it worse or lengthen it.

If I were in the same situation, I would seriously consider getting rid of the motorcycle even if it means an up front loss. As others have indicated, this appears to be a luxury item.

Just an observation (which may or may not be accurate) but that motorcycle may actually be the "bone of contention" with your roommates decision to "Move On". Seems that he was giving you a break on rent probably because of your financial situation at the time. If he was letting your part of the rent be under market rate, maybe he felt that you should have kicked in a bit more rent instead of splurging on the motorcycle. Just a thought. You may want to approach him on this. Maybe you can dump the bike and bump up the rent and gain a bit of reprieve on the apartment. Probably nothing harmful in at least asking.

I thought your 2nd job was as a Volunteer Firefighter or Paramedic. If this is the case, it seems you may need to get a 2nd job that pays the rent ILO volunteer work.

I think that Charlie hit the nail on the head with his observation.
I struggle with the same issues with my stepsons...they can barely scratch up enough money for their car and insurance payments to Marianne and I (we have them on our policies) yet they always have money for Ipods, concerts, beer, dates....etc.....:rolleyes:

[Leadfoot281]

Agreed with Joe and Charlie ^^^^.

I have a very nice 4bedroom/2 bath farm house that is currently rented for $450/month. My renters there are beginning to really annoy me. They pay rent on time but it's the new truck, new 4 wheeler, new boat and new guns that's bothers me. No renter should have a better gun collection than their landlord. Lol!

Not sure what to tell ya on the money side of things though. I have a small line of credit and use it to cover my bills at the end of the year (if needed). I get paid once/year so running short does happen to me once in a while. Making the minimum payments on that will slide me by just fine 'til I get paid.

[guspech750]

Throw the motorcycle into a frigin river and claim it was stolen. Problem solved.

[Jeronimojc]

I saw one of your earlier posts about the girlfriend doing the oil change. That was you posting that right?

Here is the happy ending option. Marry the girlfriend then move in together, sell her car, keep saving money, buy a house in the down market... It's the American dream

I agree with those who said save money where you can and go visit a credit union and see how they can help.

I, like many others here, pack my lunch and drink water from the fountain. Yes, I am frugal but that's how I can afford certain other luxuries.

Good luck!

[Kennyrauder]

This drives me nuts.Here is a fine young man that has not been taught about financial smarts. My schooling was real short!!! No money no funny!!! If you think you can live on tomorrow... guess what. just like Uncle Sam.. you will go Tits up.Please learn tomorrow will wait.. SAVE SOME GD> MONEY before you bury yourself in debt. Please get with the program... & tell your friends too.

[fastblackmerc]

This drives me nuts.Here is a fine young man that has not been taught about financial smarts. My schooling was real short!!! No money no funny!!! If you think you can live on tomorrow... guess what. just like Uncle Sam.. you will go Tits up.Please learn tomorrow will wait.. SAVE SOME GD> MONEY before you bury yourself in debt. Please get with the program... & tell your friends too.

+1!

My kids learned early on....

Bought their own cars, paid for their own insurance, etc.

They now are two successful people that own brand new homes, etc.

[guspech750]

+1!

My kids learned early on....

Bought their own cars, paid for their own insurance, etc.

They now are two successful people that own brand new homes, etc.
Same here. +1 on that. And it has paid off in the long run.

But Obamas handouts are looking pretty good right about now too:rolleyes:

[Black_Noise]

get 2nd GF with 2 jobs....LOL

[CBT]

get 2nd GF with 2 jobs....LOL

What HE said!
22640

[Haggis]

get 2nd GF with 2 jobs....LOL

Both as stripers.

[Rockettman]

This really isn't that hard.
Dump (sell) what you can get money for.
When you need to survive (roof; food; etc.), the bike, and other toys just have to wait.
It's really pretty simple. I don't know why this thread would be 5 pages long!
I know my girlfriend would have, at some point already, told me to stop with the toys, and sell what's worth a dollar, so we could survive.
Life just sucks sometimes. Be an adult and deal with it. One day, if you do it correctly now, you'll get new toys.

[Egon Spengler]

This was more a thread asking advice as to how I might consolidate big loans etc. Yeah, I made a mistake. At the time I was living within my means, but am now stuck in some hardships. We have all been there. If you don't have any bank knowledge of how I might be able to consolidate loans, free up a title to sell, etc, then don't post please. I really don't need you guys talking negative about my situation. I know what has happened, we live and learn, and we deal, just help me deal in a nice and advising way, or don't post.

Thanks to those who have helped though!

[Cheeseheadbob]

Uhhhh, you mean like this...?
Both as stripers.

[Egon Spengler]

Uhhhh, you mean like this...?
I thought the same thing! hahaha

[Cheeseheadbob]

I figured since I was not going to offer any sage advice, I would try to bring a little levity to the situation.
I thought the same thing! hahaha

[Egon Spengler]

I figured since I was not going to offer any sage advice, I would try to bring a little levity to the situation.
I appreciate it sir! I don't mind a little thread hijacking for a good joke every once in a while, but insulting me and kicking me when I am down isn't appreciated too much. I know my mistakes and I am learning from them and will come out on top in the end, but I just need to push through this and get it resolved in a quick manner!

[Bluerauder]

Both as stripers.

:fish: That ^^^^ sounds a little fishy :fish:

We call 'em Rock Fish around these parts anyway. :P

[Vortex]

You have to give your life history (at least I do), that is true, but so-so credit will not stop you from getting a Secret clearance, but debt sure will. If having jacked up credit would get your Secret clearance pulled, I would be having mine pulled. Alot.

You are right, mediocre credit wont hurt your clearance. Skipping payments, excess debt, bankruptcy or "creative financing" will hurt it. Worst of all never lie to the investigator about your debt. Its a crime in itself and besides, he's looking at all your credit reports while you are being interviewed. Re other advice, get a consolidation loan from the credit union, pay off the bike, car and credit card. Sell the bike.

[FordNut]

You are right, mediocre credit wont hurt your clearance. Skipping payments, excess debt, bankruptcy or "creative financing" will hurt it.

Yep, some direct questions:
Have you ever filed for bankruptcy?
Have you ever had any debts charged off?
Have you ever evaded payment of taxes, fees, fines to any government agency?
Are you now or have you ever been late on payments?

Some others comments...
Q. Why didn't you list that on the questionairre?
A. The instructions said go back 10 years, that was 20 years ago.
R. Oh, we're going back WAY more than 10 years...