Thursday, September 20, 2012

The race is on!

The race is on to get rid of the car loan by October 12th! This is EIGHT months earlier than my original plan. The amount of support I am getting on this from my family is unbelievable... In a very underwhelming way! Had to repeatedly ask both my father and my brother to investigate the proper payoff procedure, since the reps wont talk to me because I'm not on the car loan.

Now for part B of this race... I updated my side bar, showing that I have approximately $2600 to pay off, after additional payoff interest. The problem? I will be completing my $2000 fund with the Sept 28th paycheck... and going over by $20 (go me!). Add $410 to that (which is a regular car payment) and it puts me at $2410. That leaves me about $190 short (plus or minus $20 for interest).

You'd think I can somehow coax that measly amount of money from either my father or my brother, since the car is in both of their names. But the prospects of that happening are dim, if at all there. My dad assures me he can get me the money (yet could barely pay for gas...) and my brother actually asked me for money. Around the tune of $3500. They're closing in on their new house after selling their old one for a profit. Not my business to judge, but yeah. I don't have that sort of money to lend.

I am expecting some money from my part time job, but I hate using it for bills. And that's exactly where it has been going since February! Just another push... just another push.

25 comments:

  1. Yay! Why are you paying off the car you don't own before the credit cards though? Just curious. Will you add me to your blogroll please?

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    1. That's pretty strange. You've always been in my blogroll, but I went ahead and refreshed that. Didnt even think to look before hand if you were already there or not. I apologize! And the reason is solely based on interest. I can save a lot more in interest charges by paying the car early than by paying the credit card. But after paying the car off, that frees $410/mo, which will be getting rid of the credit card in another 3 months.

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  2. Congrats on the car loan, will your dad and brother be signing it over to you now?

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    1. No way! I want nothing to do with that vehicle!

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  3. Congratulations on the car loan, but wow.... is this your debt? Are you at least on the title?

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    1. No, I wont be nor do I want to be. It wasn't my debt, but... I somehow ended up with it. I'll just be glad it'll be gone.

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  4. I concur, please make sure you are on the title before you pay it off. At the very least, have them "sell" the car yo you for the amount of the loan you are paying off. I hate to see the car YOU paid for end up in another person's hands. Extricating your finances from you families' is imperative. You will never get where you want to be if your financials are tied to them. I realize they are your family, but they need to sink or swim on their own. It is time for you to focus on your own life and future.

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    1. I agree, they should hand the car right over to him. I am trying my best not to speak harshly, but this situation just makes me seethe.

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    2. I honestly do not want the car. I want nothing to do with it, and I've told them so. That last payment will be the last of my (scheduled) support and involvement with them or the car.

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  5. I notice you don't have an emergency fund....neither do I! Man, you charged up those credit cards! I think it's a great idea to pay off the car. I paid the notes on my mom's and when I got done, she signed the title over. Sometimes it's the best (or only) way. You can do it!!! You have three weeks.

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    1. He didn't run up the cards. If you read his about page, you'll find that it was his mother who did it, and he's stuck paying them. He's chosen not to pursue legal action or ask her to pay. : (

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    2. @ A Parker: Ha-ha. Sometimes I WISH I was the one to charge up the credit cards... at least I would've gotten something out of it. But like Dealing said, they are my mother's, under my name. My EF is a work in progress I will have done by May of last year. It seems to come and go, and I know I'm going backwards (paying off instead of building the EF), but I just feel strongly about paying the car off early.

      @ Dealing: Thanks for the backup, even though I know you greatly disagree with my decisions on that aspect!

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    3. Sorry, I wasn't trying to speak for you. It's just really unbelievable. If it had just happened, I would say get a new social so you wouldn't be stuck paying (there is a way to do that). But now you've paid so much...eh.

      I definitely don't agree with you paying them. I think changing your social would have been a good move if it had just happened. Then you wouldn't have had to do either of those and you also wouldn't have had to pay.

      I even wonder whether explaining the situation to the cc companies would have granted you some kind of leniency. Oh well. : (

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    4. Btw, did your mother ever give you one crappy apology?

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  6. Well, needless to say, the "support" you're getting from them isn't monetary. Funny, since that's the kind you need most. : (

    Please don't even let yourself take out debt for them again. They're adults. Let them burn in their own fire.

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    1. The support I'm getting is no support at all! Heh. I'll yield to your last lines.

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    2. I think you're starting to get it...

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  7. Also, you really need to get away from them. They will drain you of every last dime.

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    1. Yep, I agree - they will continue to take take take and take some more as long as they think they can get it from you. And if they can't, obviously they'll steal it from you (like your mother basically did). It's a toxic relationship, to put it mildly, and I'm sure you get this. But you sound intelligent enough to untangle the ugly web that you are in, extricate yourself fully from them and keep moving forward in YOUR life - put YOU first before THEM! You can do this, and we are cheering you on!!

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  8. You'd think I wouldn't be surprised by your family by now, but I can't believe your brother asked you for $3500! I hope you didn't feel one bit of guilt over saying no! Wonder how he ended up coming up with it since you didn't bail him out?

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    1. I didn't feel guilty at all since I said the truth. I just don't have $3.5k laying around! Not sure what he ended up doing, or why he needed the money. Sometimes I am just not afforded those sorts of details.

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    2. I'm sorry, but your brother is a friggin loser.

      Even if you had a savings account with $100k in it, he's not entitled to one penny.

      That's sketchy that he didn't even tell you what it was for. *shudder*

      If I were you I'd be packing my bags and buying a plane ticket.

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  9. good luck with your goal tanner! I know it's not your debt to pay but your determination and discipline is really something impressive! I just hope you can get free of all this soon and be free of the stress of it.

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    1. I am hoping for the same... and planning for it! Thanks.

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  10. Good luck my dear!! I think you'll be able to pull it off! :)

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