Your Questions About Debt-free For Life

Susan asks…

Do you think the American way of life is in jeopardy?

The United States id being invaded by illegal aliens committing crimes, draining tax dollars, taking unskilled jobs, refusing to become Americans, filling schools, not paying taxes, filling hospitols….do you think your way of life is in jepoardy? What do you think your children’s future will be like with 30 million illegal aliens in the United States? What will happen if your children need medical attention or the other services illegal aliens drain?

John answers:

The America that I knew is now nonexistant. If anyone thinks things are better now, they are embracing an illusion. We had a true sense of pride in our country. Most people were truthful. We did not know that drugs existed. There were almost no government intervention programs. People did not think the world owes them a living. Buying on credit was almost unheard of. Most people actually worked at a job. Most did not divorce and took care of their children. Children respected adults. An 8th grade education even in a public school would probably be the equal or surpass a college education earned today. Very few unmarried mothers. On and On.
Today:
There is a government program for every slacker.
Minority groups get special treatment.
The divorce rate exceeds 50%
Credit cards are maxed out.
Being debt free is almost unheard of
Shacking up is the thing to do
People are invading our country. The would have been shot at the boarder 50 years ago. (That should be happening today.)
Teachers can’t disipline children and the parents don’t.
We have wall to wall dope dealers
We are the third most populated industrialized nation.
Many of our politicians are addmitted drug users and the ones that don’t admit most likely are.
Getting the idea?
So we don’t have an American way of life to be in jeopardy it is no more.
The poor liberals are going to have to suck each other dry when all of the conservatives are gone. Oh well I for one don’t give a cheat.
Wouldn’t you like to kick Playa’s balls till they came out his mouth? Well er that is if she has any.

William asks…

What are some things in your lifestyle that you could live without to save some money?

I just like to hear some ideas. My husband and I are trying to save some money, and I really dont know what we want to cut out of our lives…

John answers:

Engineer’s list is pretty good, but I’d look at it the other way. Keep cell phones and drop land lines. No tv, or basic packages – read books, get out, exercise, etc.

My wife and I cut a LOT of spending by not going to restaurants. Now we only go for special occasions to eat out, or if we go out, we eat at home first and just have a drink or two. We’ve saved SO much money that way.

Go to the grocery store with a list and stick to the list. This goes for any other shopping too. Avoid impulse buying.

And, also as Engineer said, spend cash, not credit cards. That simple switch DEFINITELY saved us money by decreasing our spending. Our enjoyment of life hasn’t changed at all – in fact, it improved because we have no financial strain. We are debt free completely.

TO do that, you have to do a monthly budget and stick to it.

Laura asks…

I have questions about bankruptcy, How much money do you need to be in debt with before you can file? Does it?

get rid of everything like medical bills, old bills, student loans, and does it really take 7 years to have good credit again or what happens in 7 years?
How expensive is it to file?
Does someone get all the info for you or do you have to find out who you owe? Can you file as a married couple for both of our debt?
Is it really a bad thing to do in life? Or is it worse to owe and have everything written off?

John answers:

You ask a lot of questions….and got a hodge-podge of answers. It’s not easy to cover all this in a short space.

Let me tell you what I tell many other people considering bankruptcy.

It doesn’t really matter how much you owe. The key is how long it’s going to take to pay off these debts.

Lets pretend.

Lets say you managed to contact all of your creditors, and they agree to lower your balance and freeze your interest and late fees.

Then you sit down and create a very serious budget. Cut out all entertainment, kill the CATV and cell phone. No more dining out or Starbucks. You find out exactly how much you can afford to pay each month on these debts.

Then you somehow manage to convince your creditors to accept monthly payments that fit within this amount. And you can get all of these debts paid off in 5 years.

Assuming all of these fairy tails, can you do it?

If not, then you need to seriously consider bankruptcy. The above is exactly the same, but the court will force all of these things on you and the creditors. In 3-5 years you will be debt free.

Your credit score will suck for a couple of years, but if you plan this correctly you can have decent credit within 3 years.

I’m working with a Chapter 13 person now. They filed 2 years ago….did everything right, and have a 695 credit score (good, not great). And they still have 3 years left on their plan.

So these people who say it destroys your credit simply don’t know what they are talking about, or didn’t do their homework.

If you plan to do this, consult with a good BK attorney.

Chris asks…

After the military, I went to college, graduated, worked hard, and now I make $35 an hour. Is this a good life?

I feel so suicidal these days. I miss my friends from the Army. What is going on? I feel like such a loser. Even if I am debt free and I have a nice car and apartment, I hate this civilian life. I feel like I am just a big loser.

John answers:

It comes down to 2 basic questions.

1. Are you happy
2. If so, are you making enough money to stay that way

Robert asks…

How much of an effect do you think a girls father and his style of fathering has on how a woman relates to men?

and her love life with them as an adult?
Can you give your reasons for thinking this?

John answers:

I spent the first 9 years of my life in foster care, but I did end up getting adopted by a most wonderful man, that I’ll always call Dad, until the day I die.

My Dad had a HUGE impact on me, and the way I am. He always pushed me to work hard, no matter what job I undertook, and he always told me to get an education [and I kid you not], because “You don’t want to have to rely on someone else for the rest of your life”. That’s his exact words.

I did “kinda/sorta” marry a man that was similar to my Dad, but our family lives were different, because my grandmother lived with us, and she did [along with us kids] a lot of the household chores, which freed both my Mom and Dad up to run their own business.

The DIFFERENCE was that my Mom and Dad didn’t have to worry about splitting household chores, in fact, they delegated [except for my Grandmother], and if it didn’t get done, heads would roll.

In my marriage, we didn’t have someone like my Grandmother. We did have able-bodied children that were totally capable of taking an hour out of their day to help with household chores, and my husband wouldn’t have had to do anything, except delegate chores… Instead, I worked full time [at his insistence], and took care of the children, the house, the meals, homework, etc…all by myself.

We also disagreed on finances… To me? If you don’t have the cash, you don’t get it until you do… He believed in financing everything, including a lot of our normal household costs.

Now, [officially this month] I AM DEBT FREE! Weeeeeeeeeeeeeeeee! Took me 4 long years, but now all I have are my own living expenses…Woooo Hoooo…!

Sadly? As a child, you really don’t know your parents’ spending habits, or parenting skills, and, unfortunately, that’s where my ex and I had our biggest problems.

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