Stuck in contract with the devil

Yeah you can't cancel a debt with an application for a card, you'd be stupid to allow a bank to buy your debt for a higher percentage rate. Again, you'd be backing yourself into ANOTHER corner. Signing something you have no business signing.

A credit union might do it... but they'd see the debt and they're no dummies. You defaulted on a promise... credit unions are the least likely to pick up that kind of debt.

You need to pony up and finish out what you started.

 

I once made a hash of my situation back in trucking not related to school (That was 2500 Student Loan in late 80's paid years later. (Should have been paid on the bulk money in two months....) but anyway. It was about 6 years before I decided that Maryland cost of living was just stupid and took off.

That settled alot of things here in the south.

The moral of the story is in time you will get through this. Im involved in a civil case for statuary against a collector who got stupid and impatient. That will clear out in it's own time. The debt term was set and they moved in thinking I was a pushover. Medical debt is the most dangerous time of my life right now there is absolutely no protections. But will have them paid by christmas.

It just takes time. Like the seasons already turning to winter at the end of summer in our trees starting to turn.

 

How about finding a new job with a signing bonus, and paying off the loan with that? I realize they don't pay them up front, but he can pay them as he gets paid.

 

Everyone finds the evil in money. When you save it, invest it, get it working for you, it becomes your friend. It allows you a certain amount of freedom... especially to make the kind of decisions one has to make, and wants to make.

Securing financial freedom should be the mission of everyone. When you're young its the last thing you think about... Too busy with booze and broads. You want the new F150 or Corvette. Its steak at your favorite restaurant... you worry more about what people think and less about what you are actually doing with your money.

Then one day, when you want leverage, you have none because you have nothing built up and no portfolio.

Every business decision you make comes down to leveraging what you want. Sometimes it takes very little, others its just a walk away. With no money, you can never walk... because you'll forever be "forced" to take something, and its never what you want... or you get very lucky.

This idea that a company owes you something... you owe it to yourself. Pay yourself, and put it away...invest it, save it, make it work for you. Otherwise, these guys that want you to drive for pennies and lock you into contracts? They'll have a field day with you.

 

Every signing bonus I’ve heard of is paid out over a long period of time.....

Besides good driving jobs don’t need a signing bonus to attract applicants.......

 

Many drivers on here have posted they paid off a trucking company cdl school debt by getting credit card to use.
@x1Heavy - try www.USAA.com for a credit card.
Must be active duty or a veteran and immediate family can also use www.USAA.com

 

Yeah another tactic I'm learning.... spread those bonus payments out.... then what's really funny is you delve too deep into that "Cash Advance", you unknowingly dip into that bonus. They prey on your naivety and you never realize it because so many never check. They just assume its there.

Any "Bonus" is making them money on interest. They gave it to you in a lump sum, they aren't earning any money on it. They parcel it out as it is still "their" money. Lumping it has some Tax implications, but the smartest thing you could do with that "bonus" is re-invest it and pass on any penalties.

 

June, July, August. Three-month old CDL. How realistic is it to go job hunting right now?

 

Never dealt with any directly, but there were some in Djibouti where we refueled the frigate I was on. I miss those seafaring days and wild ports.
Cool outfit; French Foreign Legion.

 

I understand that, but sometimes that's better than being stuck in a 18 or 24 mos contract making poverty wages. He can pay that credit card debt fast if he's taking home a grand or more a week.