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I had no problem paying it before I knew it was illegal to a certain degree
You're going to alienate the landlord if you assert your rights - although, imo, if you're reliable they could be flexible. But, they choose not to be.
The way I see it your problem is essentially you are short $400 by one day, and are paying $50 a month because of it. Somehow, now, you're coming up with the $50 which is rathole money, essentially.
Can't you borrow $400 from your parents (or someone) to get ahead of this paycheck to paycheck cycle - and pay them back at the rate of $50/mo. After eight months, you'd be out of debt.
I'm paying $350 because i have no established credit and my Apr is 24%. I have 3 years of driving history, 1 point, and my car is financed. I am looking into an older car. My parents convinced to get a newer car because on my 2002 bug they replaced the transmission twice so they thought a newer car would help the repairs situation
It's not particularly accurate but what does CreditKarma.com say your credit score is? Does it list anything other than your car loan? Does it show anything being paid late? You have the usual young person's "get your credit established" problem. 24% on a car loan is crushing you. It's also likely costing you money on your car insurance since they also partially base their rates on your credit score.
Rule #1 for establishing good credit: Don't ever pay anything late that reports to the credit bureaus. Ever. It takes 7 years for any late payment to vanish from your credit report.
Rule #2: Get other things on our credit report. The usual path is a store revolving charge card or two. Then a credit card or two. Charge small amounts. Pay them back in full every month. See Rule #1. Don't EVER pay anything late. Make sure you don't fall into the trap of carrying a balance. The interest rates are similar to that crushing 24% you're paying on your car loan.
You can't easily un-do the car decision. At your income level, you really should be driving a beater you paid cash for with the minimum insurance. Because you have a car loan, you have to carry comprehensive & collision and that is crushing you. $500/month in car payment and the collision/comprehensive part of your insurance would fund a heck of a lot of car repairs on a paid-for car. Since you have a sub-prime used car loan, you likely bought an auction car at a used car lot that specializes in selling cheap used cars to people with bad credit and putting a big mark-up on the car. You have the car ownership math of the bottom-40%. It's strangling you.
Beyond doing what it takes to establish a good credit rating, others have addressed the other issues. You're paying the "poor people tax" on your rent with that late payment. Do what it takes to stop paying the late fee. $50/month is huge in the budget you described. If you have a $500 deductible on your car, you might consider seeing what bumping it to $1,000 does to the premium. You'd also have to make sure the contract on your car loan allows this. Drive like grandma and don't get tickets.
Unlike others, I'm not going to suggest you get a second job. Near as I can tell, you're still an undergrad and school needs to take priority over income. You need to get that diploma with good grades and get your career established. Among other things, that allows your med school husband to pick a higher income specialty that has the much longer low income training period.
I wasn't expecting sympathy. I had saw on multiple websites that late fees in California are void unless a landlord can prove that it's a reasonable fee for $ he would have lost from waiting on your rent. I was looking more into that and if anyone had ever asked their landlord to prove it.
I would be surprised if there are any laws or regulations dictating what fees they can charge provided it is specified in your lease agreement and you agree to it. Based on the leases I've seen, not only is $50 a typical late fee but usually it's $50 plus $10/day for each additional day it is late. So if it's late on the 3rd and you pay on the 5th it would be $70. If your lease doesn't specify something like that consider yourself lucky.
Okay and?? My goodness don't you ever quit? It was on time to them if they obviously have the grace period. Just because I didnt BREAK IT DOWN AND GET ALL TECHNICAL doesn't mean I don't understand. Why can't you just leave me and my posts alone. You gave advice once in all your responses now you are just trolling.
The grace period is intended to give people a break for the occasional lapse, not as a regular extension of the due date. It's when people abuse the "grace" like you have been doing that causes landlords to shorten up or eliminate grace periods.
I've been saving my tax return as my security deposit for the next place. And the month rent I would give them here I will just give to the new place. I already told the rescue group I foster for that I might not be able to keep fostering her once I move out just in case the place doesn't allow pets. She's not really my dog. I'm just taking care of her until they adopt her out. My parents both own trucks and are going to help me move. What do you mean by first/last month rent? I'm curious because I've only been asked for first month and security deposit
Some places require first month's rent, last month's rent plus a security deposit when you sign the lease. Other places require only the first month's rent but the security deposit may be much higher. You need to check it out carefully in advance because security deposits can range from fairly small to quite large.
He works part time but goes to school full time as well but for medical school. So any money he makes goes towards school
Ah yes. The medical student with the wife who is paying his living expenses. I know a lot of doctors and it is industry standard to have a first wife paying the bills while in medical school. When the doctor's degree is final, the first wife gets dumped before any income is earned so that no alimony is due. Then the income starts and the second wife is more in status with a high income earner (trophy wife).
I hope you have a prenuptial agreement, OP, that if you support him financially through medical school that you get a share of the prize.
Seriously. I do not know even one doctor who is still married to his college wife. So, that is my financial advice, OP. Be sure to protect yourself. You are financing a very expensive education. Be sure you end up with something to show for it.
The car and insurance are too much for your budget. I'd try to refinance it, but you may be so upside down on it that a refi won't help you.
I think that using your tax refund to get ahead at that apartment is a good idea. Finish school. Get a better-paying job (or two, if you need to do that to get ahead) and dig yourself out.
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Okay and?? My goodness don't you ever quit? It was on time to them if they obviously have the grace period. Just because I didnt BREAK IT DOWN AND GET ALL TECHNICAL doesn't mean I don't understand. Why can't you just leave me and my posts alone. You gave advice once in all your responses now you are just trolling.
You said "It was on time to them if they obviously have the grace period". That isn't true, just so you know. Payment during the grace period is late, it just has the late fee waived. We get rent verifications all the time that say "How many times was the tenant:1-5 days late, 6-10 days late, 11-15 days late, 16+ days late". Payment during the grace period counts as 1-5 days late and gets reported as such.
California Rules on Late Fees. Rent is legally due on the date specified in your lease or rental agreement (usually the first of the month). If you don't pay rent when it is due, the landlord may begin charging you a late fee.
Under California law, a late fee will be enforced only if the fee is a reasonable estimate of the amount that the lateness of the payment will cost the landlord, and if specified language is include in a written lease or rental agreement.
California landlords must give tenants at least three days in which to pay the rent or move. If the tenant does neither, the landlord can file for eviction.
Get a second job (Uber was mentioned as one resource)
You or husband drop out of school for one semester to work your butts off and stash some money
Borrow from parents
Sell the car and take public transportation or bicycle
Sell the car and get a beater
Move back in with mom and dad
Move in with roommates
Look for cheaper housing, maybe on campus
Look for a full time job that pays more than you currently make
Look for cheaper car insurance
Refinance the car
Revisit your food budget and plan on eating a lot of beans and rice
OP, JKG made some good suggestions here but you are getting very emotional about this. Step back, take a deep breathe, and relax.
Okay, this is the issue. You have a tight budget. You need to reduce expenses and/or start making more money. Not only to pay the rent on time but so you can start saving in event of when life happens. Life could be a medical bill, a car accident, a job loss, whatever.
So you can save money by cutting on your existing bills including entertainment or food budgets and/or getting a cheaper rent if possible. You can also save money by finding a higher paying job or a second job.
Personally, I'd recommend 3 things right now:
1-Finding a better paying primary job
2-Getting a second job
3-Cutting your expenses.
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