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Yes i will manage it good I hope. What should I invest the remainder 35k into sop that i can have some type of money coming in per month instead of blowing it?
Umm, if you think 35K is going to start providing you with some sort of magic, passive income stream that will somehow make life easier, forget it. At a moderately safe investment, after taxes you're still looking at only $100 a month or less.
Don't look to it for income - look to it as something you shouldn't touch, and only to be used for emergencies outside of your control (that last part being key).
Quote:
Originally Posted by jghorton
How about an Education! -- With $35K and a place to live, you may be able to get a 4-year degree! ... even if your grades/situation force you to start at a local Community or Junior college. Given your current situation, this will likely pay you the best rate of return!
Look. You do not even understand what I told you. You really are young and dumb. When you get arrested or again loose your license or do something else dumb the attorney will again jump in to help you for another portion of the estate.
If you had your head on straight you would simply wait a year and get your inheritance.
So for goodness sake get yourself a conservator. Otherwise there will be no estate when you get there.
I dont think you know what your talking about, if I dont get the loan I will go into into debt and be head over my heals. If i get the loan now I can get my license which will protect me from getting arrested and also i will have a good job and I will be able to pay my bills
Without a license or this loans , things will get much worse
I will not need an attorney again when i get this loan and even if I did in the future I can pay out of pocket for an attorney
OP, your attorney is not loaning you money now because he is a nice guy. He is loaning you money and charging 100% interest because he sees $$$$$ coming from you to him. He knows the probability of you messing up in the near future is pretty high, and he knows you have $40K and a house coming down the pipe, and he knows if you mess up, those buckaroos and house might just become HIS buckaroos and house. Leaving YOU with nada. Zilch. Nothing.
I dont think you or the other person understand. I do not get into trouble. I never really been in rouble except for this one incident.
Me needing an attorney in the future is 0%. IF i do not get this loan me needing him in the future will be very high since I wont be able to pay my fines or get my license back and if i get cuaght driving i will get rearressted
Get the loan, get my license, have him represent me on my current case which is wrapping up. I wont need him anymore and if I did need him i can pay cash
I dont think you or the other person understand. I do not get into trouble. I never really been in rouble except for this one incident.
Me needing an attorney in the future is 0%. IF i do not get this loan me needing him in the future will be very high since I wont be able to pay my fines or get my license back and if i get cuaght driving i will get rearressted
Get the loan, get my license, have him represent me on my current case which is wrapping up. I wont need him anymore and if I did need him i can pay cash
It had to have been a whopper of an "incident" to have lost your license.
Don't drive now if you don't have a license. Call a cab. Call a friend. Ask a neighbor. Don't drive.
This is very shady. DO NOT DO THIS. Also get your stuff together. You will blow through that money fast as heck at this pace. Where do you live? Who feeds you? Get it together man.
Yes I do, I checked for a title loan but I will end up in 12 months paying 150% -200% which is the same he is charging me
Could you sell the car and get your license back? A license with no car is not as bad as a car with no license. In the latter case you can't (legally) drive at all, while in the former you at least can rent a car when you need to use one.
But even a title loan is better than the attorney's offer, because it can be prepaid once you get a job again. This would let you cut your interest cost down.
How far away is work, is biking impossible, what about a bus system? Unless you live 10+ miles away, and up north where it's snowing, go find a bike at a garage sale for cheap. That will 1. get you to work. 2. give you exercise 3. make you appreciate things more.
If you have exhausted ALL ELSE, then paying $1500 over the course of a year and being able to have a job with an income is better than sitting at home going into more debt cause you can't get anywhere.
Make sure to get the deal with him in writing, which I'm sure you will, but I would HIGHLY suggest posting his "agreement" here or having someone close to you that is smart and you trust, review it. If you want to pm it to me, or I'm sure other members would be willing to review it as well.
Are there any other fees being charged by either lawyer for all the work they are doing or will this 'loan' cover all that?
No other fees. We signed a agreement for the work. It is $600 out the money,this is not doubled just owed. The remainder of the loan money is double after 12 months
Quote:
Originally Posted by Suncc49
This is very shady. DO NOT DO THIS. Also get your stuff together. You will blow through that money fast as heck at this pace. Where do you live? Who feeds you? Get it together man.
Quote:
Originally Posted by ncole1
Could you sell the car and get your license back? A license with no car is not as bad as a car with no license. In the latter case you can't (legally) drive at all, while in the former you at least can rent a car when you need to use one.
Sell my car and get a license? Then what car will I drive to go to work or go to grocery store,appointments and other stuff
Quote:
Originally Posted by ncole1
But even a title loan is better than the attorney's offer, because it can be prepaid once you get a job again. This would let you cut your interest cost down.
Title loan will be expensive. i checked already. for $2500 loan or so I will be paying $150-$200 a monthand that is mostly just interest.
Say if I get my inheritance in 12 months I will still be paying close to double
Quote:
Originally Posted by houstan-dan
How far away is work, is biking impossible, what about a bus system? Unless you live 10+ miles away, and up north where it's snowing, go find a bike at a garage sale for cheap. That will 1. get you to work. 2. give you exercise 3. make you appreciate things more.
If you have exhausted ALL ELSE, then paying $1500 over the course of a year and being able to have a job with an income is better than sitting at home going into more debt cause you can't get anywhere.
Make sure to get the deal with him in writing, which I'm sure you will, but I would HIGHLY suggest posting his "agreement" here or having someone close to you that is smart and you trust, review it. If you want to pm it to me, or I'm sure other members would be willing to review it as well.
I stay in the country.No bike or bus will help me
Thanks I will post it later but the agreement just says promossary note just saying amout owed due when Inheritance is released and ill be taken out of that. its pretty simple and clean cut and short. Like 4 or 5 sentences
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