I took a massive pay cut to change careers and I have no regrets. If it’s worth it to you I say go for it. Money isn’t everything.

Yeah and sorry I misunderstood...I thought you were saying something else.

So, it wasn't a publicly traded company? Did you ever get a K1?

And yes, you have a year to figure it out... Lol

I edited the post, I mistyped. It was meant to say lower payments not without payments.

Don’t miss payments that will hurt your credit worse than anything. What you need to do is list out all your debt from least to greatest. Then start paying on the smallest amount first. When that is done move onto the next one using the amount you paid to the first one added on. It’s called a debt snowball. Maybe see about selling stuff. Get a second job delivering pizza or doing door dash. Something that you can use to put toward that debt.

Nothing about insurance is ethical

They charge exorbitant premiums then do everything to avoid paying claims

I didn't report anything back in 2018, just cut the company a check for the 20k.

A few months back got an email saying the company had been sold, but not enough to pay off even the debts, so there is nothing left for shareholders.

That being said, it looks like the sale was finalized in early 2023, so that means I shoudl wait until next year's tax returns to report right?

Does that mean, like if I want to do 100k they will but 25k each week and then auto renew it for me?

Merrill is offering a "Merrill Preferred Deposit" product which is currently offering 4.5%. That's what I would do.

https://www.ml.com/solutions/preferred-deposit.html

On further thought I am betting that they have looked at the damage and estimated that it’s more than their client’s policy limits, or they decided to drop them as a client previously but this happened before that became effective.

If they're no longer necessary, it's always a good idea to cancel the cards. It doesn't help or solve the problem, but it does reduce risk and prevent future use.

As far as solving the problem, there are two solutions. Paying it or filing for bankruptcy. Under the paying it option, there's two paths: paying it all over time (downside: takes time, costs more) or paying a portion as a settlement (downside: get a 1099c for the difference).

What is the current interest rate and what would be the interest rate if you canceled it and turned it into a closed-end loan?

> Platinum Honors which gives me a few extra percent cash back on credit card purchases.

Customized Cash card? That gives you 5.25% back on the category of your choice up to $2500 spent each quarter (saves $525/yr). Your saving earns 0.04% ($40 for $100k).

Discover is 3.6% right now ($3600 for $100k). Then whatever credit card savings you get.

Even just a 1% saving account will save you about 2x what you get now.

I mistyped, it should have said "lower" payments not without. I was given the option to cancel a card and have the payment lowered and the term extended

> set up new payment plans without payments until I get my head above water

That's just not a thing. The bank isn't going to be fine with you not making payments for a few months.

It won't always help with insurance, but it can. I was once hit by a driver who admitted to me and the responding officer that it was her fault. When I spoke with her insurance, they said they weren't going to pay because she stated the accident was my fault. I gave them the report number and told them it would be available in a few days. About a week later, they called me back and asked where I wanted to get my car fixed.

Did you report it in 2018?

If you claim a 20k stock loss without a 1099-B you will get audited. So just make sure you have all your documentation.

T Bills are much more liquid and easier to sell if you ever need the money.

Lmao when it was first time I thought it would just be a small needle just as in an injection.

Until the nurse came around with a gigantic needle gave me a stress ball and just pinched the needle into my veins. I was like does it take out blood or kills people lmao

>Is it ever a good idea to just cancel the cards and set up new payment plans without payments until I get my head above water

The credit card company isn't going to be OK with you just not making any payments for a while regardless of whether or not you cancel the card.

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That was my guess as well. That there would be a release from liability attached to this but does not sound very ethical.

They’re trying to get you to settle with their client for $500 and waive further claims to his policy. The aim of this is to attempt to limit their liability to $500.

This is exactly why you avoid insurance all together, and just get an estimate and send them the bill once it’s done

I've taken a pay cut to move (back) into a career with limitless growth, as opposed to the basically maxed out line of work I was in. My timing was awful, was working on the transition when covid blew up, and everything I was applying to dried up and I had already been replaced in my current role and was training my replacement. They eventually let me go when there wasn't anything else for me to do and I couldn't land any of the (very few) openings there were.

Anyways, stayed the course on my goals after that though, and while it took 2+ years to replace that income, as of this year, I'm actually significantly over that amount.

The setback was real, but I'm here now, and have - like I said - unlimited opportunity to grow, especially getting my own business going, but even as a traditional employee I could climb the ladder.

As much as it sucked for those couple years, I have zero regrets. Work/life balance (as long as I'm disciplined) is manageable, money is finally improving, and I have a lot to work hard for, whereas before there was no where left to go.

I would consider a paycut if there were things such as growth; remote work; work/life balance; commute savings; general enjoyment of the work (hard to say until you're on the inside though); working in a field/role that aligns with my natural strengths rather than where I have to rely heavily on my natural weaknesses.

Cashiers checks can be shredded and the funds won’t be removed from your account, you shouldn’t have to deposit your own check into your own account. Actually, you shouldn’t be able to deposit the check because it can only be cashed by the person it’s made out to.

Either way, that’s not the issue here and it’s just confusing things. The issue is that you paid a deposit for a room, you returned the room in good condition (right???) and now you’re owed your deposit back.

Like I said before, next steps for you should be to take pictures of the room to show its in good condition, send the landlord an email asking for the deposit back and nothing else, and if they say “no” then demand they show you the reasons for keeping it.