You guys.. have the collections agency prove you owe whatever bill you owe. They have 30 days to prove it. If not, it’s their loss and your win. Next, understand that they auctioned for your “debt” .. meaning they paid a small amount to take it on, and the actual facility /organization that you owe has chucked up their loss and already received your monies in the sense of insurance . Meaning, they have loss prevention and their insurance has covered their loss due to your nonpayment. THIS is why these collection agency’s are so “willing” to give you discounts that can go from 20-75% off! Especially if they give you a deadline date. “If you pay in 2 weeks we can take such and such for it,” and it sounds hella good cause in your eyes it’s way less than your original debt. Example.. you owe $1,000. The collection buys it for 200-300… the rest is claimed in loss and the company will collect from insurance that they have for such cases. The collection will tell you, you owe them 1,000 plus whatever bs they can apply but they’ll make a deal for $600/$700.. meanwhile they paid 200 for your debt. They make 3x’s what they paid for your debt, plus a couple dollars on interests that they swear you owe them. But ☝🏾 Your thought process that I’m explaining to you should be is to question “Who are you? “ As you know you don’t owe B&B collections you owed Glass Point that amount ( I’m just naming a place/ don’t go telling them who you actually owe 😂) ….and they have to prove that you owe this debt, that exact amount and the company on their behalf that they are collecting for. Also! Scan your report good! I had 2 collection agency’s trying to get money from me for my Sprint bill that ended up in collections . One claimed I owed 350, another said 290 . I disputed through Credit Karma ( that’s who I use to stay up to date with my credit report) …and one agency was dropped due to their failure to prove my debt or that I owed them, as 2 separate collection agency’s cannot collect on one debt. Imagine if I had not paid attention to this. I learned these tips through my aunt and it works! I cleaned up my credit, and had collections knocked off through disputes and their failure to prove I indeed owed debts to them. It may not work on high debts but those petty ones, they do . Good luck ! ❤
I’ve been using the snow ball method for a few years. All my tiny debts are gone now so those quick wins aren’t there anymore but I’m still proud of my progress 🙌🏾debt summary
Ayee Congrats sis! You should be proud!! Now you have the momentum, so you just have to keep going! You can get a copy of my template through the link in my description 😊.
Just subscribed your channel just popped up on my feed. I’m looking forward to your content on accounting . I have my degree in accounting and finance , it’s so good to see other black women in the industry 🙂. Much success on your channel.
Aww thank you, I appreciate you! No, seriously it is so nice to see us in these spaces. My next video is going to be about my CPA journey. Hopefully you find some value in it 😊
Debt summary. Love the honesty and love that there is a clear solution to fix it. I have literally HORRIBLE spending habits. It has zero to do with earning more money like ppl say bc the habit will follow. Thanks for the video.. 🎀🌸
I appreciate you! You are 100% right. That's why you HAVE to get your spending habits in check FIRST or else nothing else you do will matter. I hope that you take step 1 soon! You were lucky #10, so hopefully you use the summary to help you with step 2. I'm releasing the debt summary next week! Thank you for your support!
I like your video. I have about $50k in credit card and unsecured loans (fortunately never had student loans), on top of my car payment and my mortgage. I quit a six figure job due to stress and mistreatment and was out of work for 8 months so I burned through my savings and racked up a little debt while unemployed, on top of the debt I was paying on. I just got a remote job, and it allows me to work anywhere I want, although it pays $20,000 LESS than my old job. My tentative goal is to sell my home, then maybe live in Mexico for a few months to stack cash and pay off the $50K (Or less because I'm gonna negotiate them balances down...some are already approaching charge-off status) by the end of the year. I'll keep my car and pay on it since I'm upside down anyways and can't sell it....I'lll keep that at my momma's house if I decide to leave the country for a bit. Many places in Mexico you can live off $1500/month...all I need is good internet. I think it's doable!
Wow! I love how aware and on top of everything you are. These all sound like great ideas and very doable! A TH-camr I follow Rose Han, she is a millionaire and lives in Mexico City. She talks about how she likes it there and mentions the cheaper cost of living also. That sounds like a great experience and opportunity to save money. I've been reading books that discuss geo-arbitrage and all the benefits that can contribute to retiring early.
I am motivated to get started!! I want to take my spending habits more seriously and stick to a budget! Thank you for sharing this , I got the steps written down! 🙌🏽🙌🏽
@kcherelle3248 Yesss, you can do it! You have tools now, just have to put them in action. I'm happy this was helpful to you. Keep us updated on your progress!
Thank you for the motivation!!! I’ll be doing the balance transfer of $7,000 in the morning. I also have a side job interview with a hotel as a banquet server.
@corin305 Of course, I'm glad you're motivated sis! Yesss, get the process going forward :). It's the small everyday steps that you take that matter the most. My balance transfer card is saving me sooo much money. I hope you get the job! I used to do banquet serving too at a couple hotels and it's a great side job, especially if you can get cash tips!! Keep us updated on your progress.
@@BrittanyJanaeCPA lol 😂 thanks!! You just really inspired to continue on this journey. I think continue tracking my progress on TH-cam as well. My main issue with paying off the debt is that I don’t make enough to support my expenses. But, I’m currently in school for a better paying job!
@@PeachBerryProducts You’re so welcome! The channel is @Officialjourneywiththehintons she is a great resource to find some good side hustles. Good luck on your journey!
Debt Summary!!!!!😂 Ok, Big Ups to you for this video! This is good! I like how you texted your friends to let them know what time you’re on ( note taken). I like your debt summary! I’m on my financial journey as well. It’s a lot… I’ve started and it’s going well but I need to Attack Debt! I don’t have all of my numbers right now, honestly it gives me anxiety BUT it’s not stopping me. I have some financial cleaning up to do and I’m all in. I Love how committed you are, Best wishes and I know you’ll achieve it all! Thanks for sharing! And Another 1! 😂 Diamond Brown ❤
🤣😭 you’re the best! Yesss, to being all in! We’re going to do it! The hardest step is the first step. I encourage you to start June 1st, just by listing everything out so you can see where you are. I’ll make the summary accessible to you next week. Hopefully that will help 🥰. You got this!
Im debt free now. BUT.....Portfolio recovery tried to sue over $2900 credit card & served me, but they were 1 month past the 3yrs to sue and thought I didn't have my original papers of the last payment plus still contacting me after I said not to. My lawyer sent them a counter suit of $15k for still contacting me, trying to sue after 3yrs, and all her fees. Lol, needless to say, they dropped the case 1week later😂
OMG, I actually worked for PRA Group lol. That is crazy!! I'm shocked they tried to sue you for such a small amount. I'm glad you had a good lawyer though. And Congratulations on being debt free!! I'm trying to be like you sis. Now you can invest, which where I'm going to put all my energy towards after paying off all this debt.
@BrittanyJanaeCPA I work for a big national bank. So I already knew how credit works and my state statue of limitations were. I want to invest in an index fund and am currently checking out fidelity where my 401k & IRA is also. Other than that, I'm saving to buy a modular home 2026 for my son and I. You got this!!! Your video was an inspiration ❤️
@@naturalsouthernbelle4327 Good for you girl! I want to get into index funds as well. I’ve been reading a lot of books lately and they all recommend index funds as part of a diversified portfolio. I know you will accomplish your goal of 2026, you sound very motivated 😊. Thank you so much your kind words, I really appreciate you.
You guys.. have the collections agency prove you owe whatever bill you owe. They have 30 days to prove it. If not, it’s their loss and your win.
Next, understand that they auctioned for your “debt” .. meaning they paid a small amount to take it on, and the actual facility /organization that you owe has chucked up their loss and already received your monies in the sense of insurance . Meaning, they have loss prevention and their insurance has covered their loss due to your nonpayment. THIS is why these collection agency’s are so “willing” to give you discounts that can go from 20-75% off! Especially if they give you a deadline date. “If you pay in 2 weeks we can take such and such for it,” and it sounds hella good cause in your eyes it’s way less than your original debt.
Example.. you owe $1,000. The collection buys it for 200-300… the rest is claimed in loss and the company will collect from insurance that they have for such cases. The collection will tell you, you owe them 1,000 plus whatever bs they can apply but they’ll make a deal for $600/$700.. meanwhile they paid 200 for your debt. They make 3x’s what they paid for your debt, plus a couple dollars on interests that they swear you owe them. But ☝🏾 Your thought process that I’m explaining to you should be is to question “Who are you? “ As you know you don’t owe B&B collections you owed Glass Point that amount ( I’m just naming a place/ don’t go telling them who you actually owe 😂) ….and they have to prove that you owe this debt, that exact amount and the company on their behalf that they are collecting for.
Also! Scan your report good! I had 2 collection agency’s trying to get money from me for my Sprint bill that ended up in collections . One claimed I owed 350, another said 290 . I disputed through Credit Karma ( that’s who I use to stay up to date with my credit report) …and one agency was dropped due to their failure to prove my debt or that I owed them, as 2 separate collection agency’s cannot collect on one debt. Imagine if I had not paid attention to this. I learned these tips through my aunt and it works! I cleaned up my credit, and had collections knocked off through disputes and their failure to prove I indeed owed debts to them. It may not work on high debts but those petty ones, they do . Good luck ! ❤
@imdoinbttrthnu Thank you so much for break all this down! This is great information.
I’ve been using the snow ball method for a few years. All my tiny debts are gone now so those quick wins aren’t there anymore but I’m still proud of my progress 🙌🏾debt summary
Ayee Congrats sis! You should be proud!! Now you have the momentum, so you just have to keep going! You can get a copy of my template through the link in my description 😊.
That's awesome. You made progress ❤❤❤❤
Newbie here! Great debt video. Good luck
Thank you and Welcome! Glad to have you here :)
Just subscribed your channel just popped up on my feed. I’m looking forward to your content on accounting . I have my degree in accounting and finance , it’s so good to see other black women in the industry 🙂. Much success on your channel.
Aww thank you, I appreciate you! No, seriously it is so nice to see us in these spaces. My next video is going to be about my CPA journey. Hopefully you find some value in it 😊
I'm here for it! I may even join in to tackle some of my debt as well.
We’re happy to have you! Please do, we don’t need anything holding us back. It’s time to be free!
Debt summary.
Love the honesty and love that there is a clear solution to fix it. I have literally HORRIBLE spending habits. It has zero to do with earning more money like ppl say bc the habit will follow. Thanks for the video.. 🎀🌸
I appreciate you! You are 100% right. That's why you HAVE to get your spending habits in check FIRST or else nothing else you do will matter. I hope that you take step 1 soon! You were lucky #10, so hopefully you use the summary to help you with step 2. I'm releasing the debt summary next week! Thank you for your support!
I like your video. I have about $50k in credit card and unsecured loans (fortunately never had student loans), on top of my car payment and my mortgage. I quit a six figure job due to stress and mistreatment and was out of work for 8 months so I burned through my savings and racked up a little debt while unemployed, on top of the debt I was paying on. I just got a remote job, and it allows me to work anywhere I want, although it pays $20,000 LESS than my old job. My tentative goal is to sell my home, then maybe live in Mexico for a few months to stack cash and pay off the $50K (Or less because I'm gonna negotiate them balances down...some are already approaching charge-off status) by the end of the year. I'll keep my car and pay on it since I'm upside down anyways and can't sell it....I'lll keep that at my momma's house if I decide to leave the country for a bit. Many places in Mexico you can live off $1500/month...all I need is good internet. I think it's doable!
Wow! I love how aware and on top of everything you are. These all sound like great ideas and very doable! A TH-camr I follow Rose Han, she is a millionaire and lives in Mexico City. She talks about how she likes it there and mentions the cheaper cost of living also. That sounds like a great experience and opportunity to save money. I've been reading books that discuss geo-arbitrage and all the benefits that can contribute to retiring early.
Can i ask what remote job you are doing?
@@l.t.p4941 I write code that automates software testing....QA Automation Engineer
I am motivated to get started!! I want to take my spending habits more seriously and stick to a budget! Thank you for sharing this , I got the steps written down! 🙌🏽🙌🏽
@kcherelle3248 Yesss, you can do it! You have tools now, just have to put them in action. I'm happy this was helpful to you. Keep us updated on your progress!
Yayy! I love that TH-cam recommended your channel. Is there any chance you could do a video on how to budget?
Also, debt summary!!
Aww I’m happy TH-cam recommended me to you too. I absolutely can do a video on How to Budget! Turn on your notifications. I’ll drop it next week.
Thank you for the motivation!!! I’ll be doing the balance transfer of $7,000 in the morning. I also have a side job interview with a hotel as a banquet server.
@corin305 Of course, I'm glad you're motivated sis! Yesss, get the process going forward :). It's the small everyday steps that you take that matter the most. My balance transfer card is saving me sooo much money. I hope you get the job! I used to do banquet serving too at a couple hotels and it's a great side job, especially if you can get cash tips!! Keep us updated on your progress.
Debt summary! I have a sheet that I use, but I like yours. I have about $25k too.
Twin lol. I love that you already have a sheet. That means you've already accomplished step 2. I'm releasing my version next week! You were #9 :).
@@BrittanyJanaeCPA lol 😂 thanks!! You just really inspired to continue on this journey. I think continue tracking my progress on TH-cam as well. My main issue with paying off the debt is that I don’t make enough to support my expenses. But, I’m currently in school for a better paying job!
What was that channel you recommended? Thank you for helping us out with money issues
@@PeachBerryProducts You’re so welcome! The channel is @Officialjourneywiththehintons she is a great resource to find some good side hustles. Good luck on your journey!
Debt Summary!!!!!😂
Ok, Big Ups to you for this video! This is good! I like how you texted your friends to let them know what time you’re on ( note taken). I like your debt summary! I’m on my financial journey as well. It’s a lot…
I’ve started and it’s going well but I need to Attack Debt!
I don’t have all of my numbers right now, honestly it gives me anxiety BUT it’s not stopping me. I have some financial cleaning up to do and I’m all in.
I Love how committed you are, Best wishes and I know you’ll achieve it all! Thanks for sharing!
And Another 1! 😂
Diamond Brown ❤
🤣😭 you’re the best! Yesss, to being all in! We’re going to do it! The hardest step is the first step. I encourage you to start June 1st, just by listing everything out so you can see where you are. I’ll make the summary accessible to you next week. Hopefully that will help 🥰. You got this!
Im debt free now. BUT.....Portfolio recovery tried to sue over $2900 credit card & served me, but they were 1 month past the 3yrs to sue and thought I didn't have my original papers of the last payment plus still contacting me after I said not to. My lawyer sent them a counter suit of $15k for still contacting me, trying to sue after 3yrs, and all her fees. Lol, needless to say, they dropped the case 1week later😂
OMG, I actually worked for PRA Group lol. That is crazy!! I'm shocked they tried to sue you for such a small amount. I'm glad you had a good lawyer though. And Congratulations on being debt free!! I'm trying to be like you sis. Now you can invest, which where I'm going to put all my energy towards after paying off all this debt.
@BrittanyJanaeCPA I work for a big national bank. So I already knew how credit works and my state statue of limitations were. I want to invest in an index fund and am currently checking out fidelity where my 401k & IRA is also. Other than that, I'm saving to buy a modular home 2026 for my son and I. You got this!!! Your video was an inspiration ❤️
@@naturalsouthernbelle4327 Good for you girl! I want to get into index funds as well. I’ve been reading a lot of books lately and they all recommend index funds as part of a diversified portfolio. I know you will accomplish your goal of 2026, you sound very motivated 😊. Thank you so much your kind words, I really appreciate you.
Me too
DEBT SUMMARY! I know Im late (video was just suggested), but it cant hurt to try
I'll be releasing it this week. Stay tuned!
Debt summary ❤❤❤
Debt Summary ❤
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Debt summary