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I am an HR professional with 12 years of extensive background into recruitment and HR operations. Responsible for full cycle recruitment of technical professionals and employee engagement within the Information Technology industry. Other HR activities, including payroll management, employee relations, grievance handling, helpdesk, leave and attendance management, admin, performance appraisals and training.
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Finally something relatable after all those “3-years experience, 200k equity, why am I such a failure” posts
I don’t like credit card debt but don’t judge until you know the full story. There could’ve been unexpected health issues and bills. The horrible SO could’ve went to Bora Bora with a lover and ran up all that debt, you just don’t know
I have $40K cc debt and think the judgmental posts on this thread are a bit much. 🤷🏽♀️
Stop being a dick EY1. What goes around...
Depends on what state, but my best guess is that if their name is also on any of the debt it will be also be their responsibility to pay it off. But if it’s in your name you might be screwed. Also, 19K in credit card debt??
19k isn’t all that much. If you dedicate $1000 a month and maybe your bonus to it you can knock it out in a year.
Could’ve been an experienced hire EY1. Don’t judge
Jesus... All the best OP. You'll rise above this difficult time
I have 45000$ credit card debt coz of my wedding ..it’s ok ..life happens ..money is temporary ..try and pay your debt off before divorce
People here that are judging because of the CC debt probably just hoard all their money and do nothing. If you make 80K you think you can just easily save half of your take home pay ? Get lost. Maybe living in the middle of nowhere Texas. People have student debt and other expenses as well. Living in places like NYC/DC/SF this stuff can happen.
I’ve tried a few things to get out of debt. Out-earning my stupidity has helped but it only goes so far. Gotta tackle the lifestyle, spending, priorities, and keep revising every month.
Divorce is going to make you wish your problem was an underwater house and a mere 19k in credit cards. You’ve got to be in better financial shape to get divorced unless we’re talking about an abuse situation.
Sign up with something like “The Financial Gym” and work with one of their financial planners to set the debt and savings goals. It will be remarkable if you do what they say. $85/month, worth every penny.
Then... get a mediator and negotiate a non-financially-violent exit. It’s better that way.
If you don’t do these things then you can still get divorced but you’re going to dig yourself further into a hole and it will take much longer to be solvent.
Don’t do a bridge loan and do not borrow from your 401k. It won’t work — you’ll charge up again.
Start paying the CC debt now in conjunction with a larger set of goals. Adjust your lifestyle right now.
This is my 3rd year and my net worth is 200k now....
...wait, what was the question?
I thought my $3K in credit card debt was bad. Also we all don’t make at least $80K. I’m a relatively new Senior and just broke 80 in my third year at the firm
Yea I wouldn’t judge on cc debt either... earn good money here but had writhing last 12 months a wedding, a medical emergency in family, and bought a car for my wife so she could get to work ... so that puts strain on any finances regardless of pay. We’re lucky that we can work our way out...
Start with Dave Ramsey
In this thread: Sheltered judgmental know-it-all’s who’ve never had anything bad and unexpected happen
Rotate C1, when they start you low like that it’s hard to catch up.
Hang in there OP! Had similar CC debt, borrowed from 401k to pay it off. Typical guidance is that I’m stealing from my future wealth, but I needed the automation and didn’t want to pay that 25% APR.
Also, for those talking about income. Making a high ($+80k) income is irrelevant to how much debt. The goal isn’t how much we make, but how much we save/invest!
I don’t understand how so many people in our line of work have tons of credit card debt. Don’t we all make at least $80k incomes or more? You should easily be able to save half if not more of your take home pay after expenses and apply it towards paying off the credit card debt ASAP.
C2- I don’t believe OP revealed their gender so it’s best not to make assumptions.
M1- That’s a pretty flimsy excuse compared to others in this thread. If anything constant job uncertainty is a reason to shun credit card debt altogether! I recommend you try harder to differentiate your needs and wants. You can live comfortably and have a strong financial cushion!