Author Topic: PSA: Don't swipe recklessly for others  (Read 265993 times)

Offline Dan

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Re: PSA: Don't swipe recklessly for others
« Reply #3510 on: March 28, 2019, 01:12:53 PM »
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3511 on: March 28, 2019, 01:19:21 PM »
$50K max on these accounts and one account per person.

Also, be careful, with the MM accounts

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**We include 6 free withdrawals per month. There is a $5 fee for each withdrawal after 6 per monthly statement cycle.
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Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3512 on: March 28, 2019, 01:20:08 PM »
Can get 2.5% (no CD required) with all american bank

https://allamerica.bank/personal/banking/checking/mega-money-market-checking

or with red neck bank (if you cool with redneckery.... )

https://redneck.bank/

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I've been waiting over 5 years with bated breath for someone to say that!
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Offline halperng

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Re: PSA: Don't swipe recklessly for others
« Reply #3513 on: March 28, 2019, 01:21:16 PM »
On this topic I have a friend who swiped his way into credit card debt of approx 30k. At this point all his cards are maxed out. He can afford to pay the minimum payments but that would take years to actually pay off. Is it worthwhile for him to just stop paying and then settle with the cc companies?

it would be a many years long process with lots of phone calls from creditors and collectors, in the ends they add on interested and fees etc.. so when they "settle" it's really as much as a discount as you would think. As well in the beginning the settlement offers are not very good, only many years later do they get better. however still better than paying 26% interest

Offline pointer

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Re: PSA: Don't swipe recklessly for others
« Reply #3514 on: March 28, 2019, 01:21:47 PM »
$50K max on these accounts and one account per person.
Didn't realize that...
https://apps.westernbanks.com/
2.5%, 3mm max, no minimum

Offline pointer

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Re: PSA: Don't swipe recklessly for others
« Reply #3515 on: March 28, 2019, 01:23:53 PM »
Also, be careful, with the MM accounts
That's every savings account, no?

Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3516 on: March 28, 2019, 01:24:43 PM »
it would be a many years long process with lots of phone calls from creditors and collectors, in the ends they add on interested and fees etc.. so when they "settle" it's really as much as a discount as you would think. As well in the beginning the settlement offers are not very good, only many years later do they get better. however still better than paying 26% interest

If playing things right one can expect to settle for 30% or less, depending on circumstances, sizes of accounts, which banks, etc.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline knowitall

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Re: PSA: Don't swipe recklessly for others
« Reply #3517 on: March 28, 2019, 01:32:23 PM »
Can we change the title of this thread to “best high yield savings accounts”

Offline 12HRS

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Re: PSA: Don't swipe recklessly for others
« Reply #3518 on: March 28, 2019, 01:55:30 PM »
That's every savings account, no?

Correct. Unsure of @ExGingi's point

Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3519 on: March 28, 2019, 01:57:11 PM »
Correct. Unsure of @ExGingi's point

The headline title when clicking on the link is "Mega Money Market® Checking" and if a checkbook is issued, one might mistake it for a checking account without said limitation.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline 12HRS

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Re: PSA: Don't swipe recklessly for others
« Reply #3520 on: March 28, 2019, 02:03:06 PM »
The headline title when clicking on the link is "Mega Money Market® Checking" and if a checkbook is issued, one might mistake it for a checking account without said limitation.

I hear that. huge assumption on checkbook being issued though

Offline yitzgar

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Re: PSA: Don't swipe recklessly for others
« Reply #3521 on: March 28, 2019, 02:09:38 PM »
If playing things right one can expect to settle for 30% or less, depending on circumstances, sizes of accounts, which banks, etc.
Income tax on unpaid amount, so better to keep total owed as low as possible

Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3522 on: March 28, 2019, 02:11:21 PM »
Income tax on unpaid amount, so better to keep total owed as low as possible

Except if insolvency exception applies.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #3523 on: March 28, 2019, 03:50:12 PM »
On this topic I have a friend who swiped his way into credit card debt of approx 30k. At this point all his cards are maxed out. He can afford to pay the minimum payments but that would take years to actually pay off. Is it worthwhile for him to just stop paying and then settle with the cc companies?

30K is a payable number. I wouldn't advise this unless he can work out an agreement with the lenders to show "paid" on his report and not "settled".

Offline Denverite

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Re: PSA: Don't swipe recklessly for others
« Reply #3524 on: April 03, 2019, 10:54:09 PM »
https://forums.dansdeals.com/index.php?topic=102731.0;topicseen

Maybe this guy was just running his own business and not swiping since he seems to be genuinely confused as to why he was shut down. Collateral damage then from all these schemes?