I saved up $4000! I am negotiating with the collection agencies now, getting everything in writing.. After I'm done paying off my debt what should I do next? Get a credit card so I can build more debt? ;)
2006-11-02 10:02:58 · 16 answers · asked by kakk333 1 in Business & Finance ➔ Credit
its too bad most of these debts were hospital debts due to insurance not covering as much as they said they would :(
2006-11-02 10:04:21 · update #1
For additional details, I am 24.. have never saved up this much money before, so what should I do next, fix my credit and try to get a loan for a house and resell houses? :)
2006-11-02 10:05:47 · update #2
CONGRATULATIONS SWEETIE I!!!!
2006-11-02 10:04:50 · answer #1 · answered by Liz 6 · 1⤊ 1⤋
Do whatever you can to stay out of debt. Depending on your age, I would consider investing some money every month into a Roth IRA for retirement (or a down payment on your first home if you must, but I would honestly leave it for retirement). Or perhaps you could invest some money in a relatively stable mutual fund, one which isn't very risky. At least until you get some more money saved up. Good for you for paying it off!
2006-11-02 18:07:32 · answer #2 · answered by atomicfrog81 3 · 0⤊ 1⤋
Save, Save, Save. Don't go into more debt. Buy yourself something nice, but not expensive. Then when another emergency comes you will be able to pay it off without credit issues.
2006-11-02 18:06:16 · answer #3 · answered by Joe S 6 · 1⤊ 0⤋
LOL...this is going to sound bad, but if I were you I would go on a minni shopping spree at the mall. I'm sure b/c u had so much medical debt you weren't able to by cute stuff you wanted. So now here's your chance.....it would make you feel so much better! Think of it as a reward for being diligent.
2006-11-02 18:07:06 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Yeah!! Go out and create a huge party so you can spend the next 5 years paying that off!!!!
W000T GO DEBT!
lol congratz on a job well done =)
2006-11-02 18:05:15 · answer #5 · answered by OwNaGeR 3 · 1⤊ 1⤋
get only one credit card....one with a low limit...so you can slowly get your good history establish without the temptation to splurge.
Also to go to a financial advisor....if you could save up $4k..then you can start investing.
Congrats on paying off your debts. Thats HUGE
2006-11-02 18:06:06 · answer #6 · answered by Pam 3 · 2⤊ 1⤋
Umm lay low for a little bit. NO MORE CREDIT CARDS FOR YOU! If you do decide on one, just do like a gas station one or one where you can only use at one place just a little bit. GET A CAR-that'll help build credit. OPEN A SAVINGS ACCOUT/IRA AND INVEST YOUR MONEY RATHER THAN SPEND IT ALL!!!!!!!!!!!
2006-11-02 18:06:09 · answer #7 · answered by jon j 2 · 1⤊ 1⤋
During the negotiating ask them to remove it from your file first they may say they cant but thats a lie
2006-11-02 20:05:39 · answer #8 · answered by Luckys Charm 4 · 1⤊ 0⤋
Congrats to try to settle your debts.....many just don't care.....save money for a rainy day and watch your spending!!!
2006-11-02 18:06:35 · answer #9 · answered by Sammyleggs222 6 · 1⤊ 0⤋
DO NOT RACK UP MORE DEBT DONT GO SHOPPING DONT GO SPENDING ANY MORE MONEY CUT UP ALL CREDIT CARDS AND DONT SPEND UNREASONABLE AMOUNTS OF MONEY AND SAVE ALL PENNIES IN A JAR BECAUSE YOU WILL NEED THEM FOR A RAINY DAY
2006-11-02 18:06:18 · answer #10 · answered by lightessnc 3 · 0⤊ 1⤋
Start saving....stay out of debt because it makes me have to pay for your negotiations that you are so proud of.
2006-11-02 18:05:25 · answer #11 · answered by voandginger 4 · 0⤊ 2⤋