It shows a different date because It became a collection so pretty much a "new" account.
Uhmm when it comes to legal action I believe what you owe is not enough for them to prosecute it because of the cost involved with this procedure. This will be on your credit for the next 7 years and I am not really sure if it will affect your immigration status.

Dave Ramsey recommends not to pay collection agencies anything since they're buying your debt on the pennies for every dollar. So for example they bought your 3200$ for 600$, and their profit is the difference. This debt will be increasing since they will be adding late fees and some other stuff to it.

Timing of payments doesn't make a difference with U.S. mortgages because interest is calculated based on the final monthly balance.

I think I misunderstood how taxes work with the backdoor conversions. That's my bad! That totally changes everything!!

This could make sense. Just seems like a larger change than I’d have expected from that.

Is it easier to rip off a bandaid, or slowly peal it off? Do not spread out your pain. Instead of spending the equity on a new home, it will go towards rent. Not the move IMO.

Great point. I was thinking about it a little wonky. Additionally, I believe I missed the part where (mega) backdoor Roths aren't required to pay tax on the conversion. I always figured that since taxes weren't paid going into the Trad 401k that they would get their taxes when I performed the conversion....

[deleted]

I made another comment that explains it in a little more detail. I shouldn't have been so vague

Thank you! You’re advice has been very helpful!

Many financial advisors are really just looking to invest your money while earning front-end fees for doing so and yearly maintenance fees. For many especially younger people or with average to above average incomes this is easy to DIY and avoid those fees thus maximizing your money and compounding ability. If you don't want to take the time to learn about mutual funds, you can invest in target date funds and broad market index funds that do the work of actively managed mutual funds for significantly less in fees.

Financial planners can make sense, if there is something complex or if someone wants to check up on what they are doing. Financial advisors might make sense with over 6 figures of investable assets (excluding 401k I would say) or when you have a complex tax situation you need to bake in etc.

I don't like the doctor or preventive care analogy because most people don't need the expert when it comes to basic investing as it's become very easy and low cost in recent years.

Is there a reason that it only comes once you have maximized contributions? Why wouldn't you perform a mega backdoor Roth even if you were contributing say 80% of the federal limit?

Yeah I totally get your line of thinking regarding $700k vs $900k but it's ignoring your equity that you could cash out now. My answer did ignore the cost of selling your house, which is significant though.

I'm not totally familiar with construction loans. Some are due at the end of construction (i.e., you need to refinance) and some convert to a mortgage. Either way, you are going to have a higher effective mortgage rate in the end.

It's a super hard decision. But I wouldn't discount the time/headaches/cost over runs that come with renovating. It's hard to put a price on, but it can be a really high workload for you.

You caught me :P! My math was bad, I am the third highest tax bracket.

I think I understand what you're saying, I have been making contributions to my employers Roth 401k for the past few years when I should have been making my contributions to the trad 401k this whole time.

Yeah. The phase out for traditional Ira deductions is very low if covered by a retirement plan

[removed]

Tell roommate to hop on DoorDash, Uber eats, Instacart, Amazon flex, and get that money. Sell whatever he doesn’t need on eBay or Facebook market place

The other time is spent at school, I am a music major so I have to practice multiple instruments frequently.

The military fell through because my parents are on disability and the was supposedly going to pay for school since my dad is 100% disabled

The university office has passed the loan to a debt collector and they told me that anything that is over a year old will not be covered by a student loan

I don't know what you mean by the last question, but the payments for the student loan start on 2/2.

I mainly need the 17k since I can't apply for any transfer until I have my transcripts from the private university.

Can I pay some of it out of pocket and get a smaller loan? I don't know if that's an option or not

There are special pens you can use developed by Frank Abagnale Jr (the 'Catch me if you can' guy) to prevent this. If you still use checks, it's worth picking them up if you need to write the occasional check.

Yes, that sometimes happens. This is about averages. On average, if every year you DCA, there are more years that you’ll feel like you missed out than years that you’ll kick yourself.

For the long term you want equities still. Nothing will beat stocks for the long run.

Oh I am aware. But life gets in the way sometimes

They are coming back, now that interest rates are up.

In my case HYSA are good enough, and so liquid, I don' care to deal with anything else. I can get about 4%, which is good enough for the amount I keep liquid. Beyond that, I am investing. If I was saving for something huge, but closeish (like a house, or IDK a big boat) I may feel differently.

[removed]

You'll need to file an amended return for last year and claim the money. You'll owe taxes, interest, and penalty on the amount you should have paid last year but didn't. I'd send that to your accountant now to try to get ahead of it.

Never ever negotiate with these agencies. Always tell them that you will only deal with the original creditor. That is your right no matter what the fine print says.