Quote:
Originally Posted by el presidente
Sad, but this family is in for worse financial crisis in the future. With his credit effectively shot for the next 7 years and his mortgage company likely garnishing his wages at his job, he'll have even less to bring home to the family.
This is the type of fatal financial decision that can hound you for years and years to come. If he switches employers or loses his job, he'll have 60 days to repay the loan on his 401(k).
Nothing like flushing the financial toilet.....twice.  |
Exactly. And that's what kept me plugging away all these years once I woke up.
I know of a couple (not friends, former acquaintances of my SIL) who filed for bankruptcy to get themselves out of CC and gambling debt. Man did that pissed me off because the were really living it up after that. Turns out the guy's parents put his house in their name and were making the payments for him. The couple has since divorced and the last the ex-wife heard the guy had buried himself again.