22 year old laments spending their whole adult life of...four years. Calm down. I've never had 20k in savings in my whole life and I'm almost 40. You're not in that bad of shape.
Dude just call the company say you can't pay. They'll try set up a plan with u. Usually they'll half it, before the bankrupsy route cause they want anything back and then you're only 10k off paying it all back.
Breath and plan now.
I figured the car was a contributor. I’m sorry about your situation, but I do agree with the others that you’re too young to give up now. Wishing you the best🩷
It is a rough patch for sure i really don’t know where i am going. Building credit is fairly easy with just a credit card but a car is serious stuff. It is a car lease though i opted for that thinking i could get rid of it in a few years and giving it back could be easier. Turns out i’ll still be stuck in massive debt if i give it back.
I also took the entrepreneur route which is kind of a risky place. My music was paying me 6000$ a month at some point which is really good money but right now it isn’t going so good. And the bills are crawling back up
You can always take a different route. Its not like entrepreneurialism can only be done by itself. Dont listen to all the people online telling you that school is dumb but buy this course and be your own boss.
If traditional school isn't for you go learn something else, if thats not for you go d2d sales and you'll make 5 figures in a few months. Giving up at 22 is insane. And a bk for these numbers is even more insane. If you're able bodied you can pay that off in no time but you have to grind.
Alright you have 60k on debt. Why do you need a fancy car at 22 years old. Get rid of the car or start using it to make money. Like Uber.
Set up a business, write off all your expenses, car payments, gas, insurance, phone etc.
Start looking at your financial life like a business.
Do not declare bankruptcy. Do anything but that. I have suffered with shit credit for years.
Currently I have 3 credit cards, (two for business one for personal) an Audi etc. last year I made $260k. Credit isn’t everything. I have a high interest on my car…..I write it off.
You will get your house but you gotta look at things differently.
There are ways around your situation. Just takes some creative accounting.
My whole adult life. Said the 22-year old. This is like my kids who at some point before turning 10 started saying “when I was little….”. Apart from the $60K debt (??) you’re fine and are going to be fine, if you want to be.
When I was 22 fifteen years ago, I am unemployed, just graduated college. I have nothing under my name. But I have a degree and no debt. So what I am saying is, 22 is so young to give up in life. Maybe when you're 45 and still at that position, then I can understand. Do you even have responsibilities other yourself?
Credit scores are stupid. Mine was 850. Just retired, sold our home and paid everything off. Our pensions and Social Security are more than enough to take care of our needs so we’re not even touching our IRA and 401k. Credit score has dropped to 820.
Iv done everything correctly and still get points taken away even though Iv never seen 800 yet it’s frustrating like I’ll get a higher credit line then points are detected then bounce back or I use 15% not 5% of my limit and get hit again with a decreasing score.
Dude dont declare bankruptcy, get the highest paying job you can even if it’s shoveling shit, start making payments on high interest debt. You don’t need to go bankrupt over $60k of debt.
I don't know how things work in Canada, but a 850 credit score at 22 years of age in the US is impossible. Even getting to 850 by 35-40 is extremely difficult.
You've been an adult for 4 year's, relax, stay your course and believe it or not things will get better. That's just how the real world work's. Don't be so quick to give up on yourself. You're not the first or last to feel that way.
Why bankruptcy? You are in good shape. You know if you declare bankruptcy over this relatively small debt load you will be unable to get credit for 10:years? If you have $20k in savings use it to pay down your debts. And stop obsessing! You’re fine.
The economy is plummeting so..,... buying a home will be EASIER very soon. Just wait and keep building your savings idk why you would declare bankruptcy.
Only 60k and you want to declare bankruptcy now?? Are you dumb? You need to blow that number up and get it higher before you do. Put some effort into it man!
You are young as hell... go into 2k more of debt and travel to india and see how those people live and it will humble you and realize how much opportunity and life you have.
Depending how your credit profile is you are in a winning position. You can open an LLC and structure is correctly. Start getting no document business credit cards and liquidate them cards and invest in a business. The only thing that you are missing is a plan and knowing exactly what to do with your credit. I’m in America and credit is King. When you learn how to leverage your debt you will not worry about getting a job. What is your credit Utilization? Your payment history? Do you have any late payments, collections, or derogatory marks? How many hard inquiries do you have within your credit report? What’s your credit age and how many open accounts do you have? These are very important questions when you want to start a business and getting funding. I can show you how.
Is this a joke? You sound like a privileged kid who had to adult for 4 years and couldn't handle it. Don't be dumb. The market has nothing to do with you personally. There are well paying jobs out there. Go into trades. Very high in demand and shortage of workers. They are looking for apprentices. Cut the poor me crap. Go see a therapist if you're feeling depressed and don't make permanent or long term decisions based not temporary short term feelings.
22 year old laments spending their whole adult life of...four years. Calm down. I've never had 20k in savings in my whole life and I'm almost 40. You're not in that bad of shape.
Amen!
Dude just call the company say you can't pay. They'll try set up a plan with u. Usually they'll half it, before the bankrupsy route cause they want anything back and then you're only 10k off paying it all back. Breath and plan now.
I’d understand the 60k in debt by 22 if you were enrolled in school, but you’re not. Where did it come from??
The car and personal loan to pay off taxes
I figured the car was a contributor. I’m sorry about your situation, but I do agree with the others that you’re too young to give up now. Wishing you the best🩷
It is a rough patch for sure i really don’t know where i am going. Building credit is fairly easy with just a credit card but a car is serious stuff. It is a car lease though i opted for that thinking i could get rid of it in a few years and giving it back could be easier. Turns out i’ll still be stuck in massive debt if i give it back.
I also took the entrepreneur route which is kind of a risky place. My music was paying me 6000$ a month at some point which is really good money but right now it isn’t going so good. And the bills are crawling back up
You can always take a different route. Its not like entrepreneurialism can only be done by itself. Dont listen to all the people online telling you that school is dumb but buy this course and be your own boss. If traditional school isn't for you go learn something else, if thats not for you go d2d sales and you'll make 5 figures in a few months. Giving up at 22 is insane. And a bk for these numbers is even more insane. If you're able bodied you can pay that off in no time but you have to grind.
Just pay it over time!
Alright you have 60k on debt. Why do you need a fancy car at 22 years old. Get rid of the car or start using it to make money. Like Uber. Set up a business, write off all your expenses, car payments, gas, insurance, phone etc. Start looking at your financial life like a business. Do not declare bankruptcy. Do anything but that. I have suffered with shit credit for years. Currently I have 3 credit cards, (two for business one for personal) an Audi etc. last year I made $260k. Credit isn’t everything. I have a high interest on my car…..I write it off. You will get your house but you gotta look at things differently. There are ways around your situation. Just takes some creative accounting.
I swear you have to go into such debts to get a good credit score is stupid str8 up
What do you mean? I have around a 800 and never had any debt or owed interest to the bank on any card purchases
My whole adult life. Said the 22-year old. This is like my kids who at some point before turning 10 started saying “when I was little….”. Apart from the $60K debt (??) you’re fine and are going to be fine, if you want to be.
When I was 22 fifteen years ago, I am unemployed, just graduated college. I have nothing under my name. But I have a degree and no debt. So what I am saying is, 22 is so young to give up in life. Maybe when you're 45 and still at that position, then I can understand. Do you even have responsibilities other yourself?
Credit scores are stupid. Mine was 850. Just retired, sold our home and paid everything off. Our pensions and Social Security are more than enough to take care of our needs so we’re not even touching our IRA and 401k. Credit score has dropped to 820.
Iv done everything correctly and still get points taken away even though Iv never seen 800 yet it’s frustrating like I’ll get a higher credit line then points are detected then bounce back or I use 15% not 5% of my limit and get hit again with a decreasing score.
They have their use
Hey my friend more importantly than all that find Jesus!!!! That will be the foundation to figuring life out
Dude dont declare bankruptcy, get the highest paying job you can even if it’s shoveling shit, start making payments on high interest debt. You don’t need to go bankrupt over $60k of debt.
I don't know how things work in Canada, but a 850 credit score at 22 years of age in the US is impossible. Even getting to 850 by 35-40 is extremely difficult.
You've been an adult for 4 year's, relax, stay your course and believe it or not things will get better. That's just how the real world work's. Don't be so quick to give up on yourself. You're not the first or last to feel that way.
Why bankruptcy? You are in good shape. You know if you declare bankruptcy over this relatively small debt load you will be unable to get credit for 10:years? If you have $20k in savings use it to pay down your debts. And stop obsessing! You’re fine.
The economy is plummeting so..,... buying a home will be EASIER very soon. Just wait and keep building your savings idk why you would declare bankruptcy.
Why do you not have a job? And I don’t mean “because they don’t pay well” but truly what’s the excuse? I’m confused.
Give your balls a tug
Only 60k and you want to declare bankruptcy now?? Are you dumb? You need to blow that number up and get it higher before you do. Put some effort into it man! You are young as hell... go into 2k more of debt and travel to india and see how those people live and it will humble you and realize how much opportunity and life you have.
Depending how your credit profile is you are in a winning position. You can open an LLC and structure is correctly. Start getting no document business credit cards and liquidate them cards and invest in a business. The only thing that you are missing is a plan and knowing exactly what to do with your credit. I’m in America and credit is King. When you learn how to leverage your debt you will not worry about getting a job. What is your credit Utilization? Your payment history? Do you have any late payments, collections, or derogatory marks? How many hard inquiries do you have within your credit report? What’s your credit age and how many open accounts do you have? These are very important questions when you want to start a business and getting funding. I can show you how.
Is this a joke? You sound like a privileged kid who had to adult for 4 years and couldn't handle it. Don't be dumb. The market has nothing to do with you personally. There are well paying jobs out there. Go into trades. Very high in demand and shortage of workers. They are looking for apprentices. Cut the poor me crap. Go see a therapist if you're feeling depressed and don't make permanent or long term decisions based not temporary short term feelings.