Does anyone remember the fatwallet thread of the poster who either eliminated all their debt or was in the process of doing so? The thread was a few years old and s/he made maybe monthly posts on their progress. Can anyone link to it?
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Was it this one:
https://web.archive.org/web/20170307073912/https://www.fatwallet.com/forums/finance/1249914
“Paying down $0.5 million in debt”?
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I believe you’re referring to the IBJanky thread.
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No, it wasn’t but I will read this. Thanks!
IBJanky thread:
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That’s the one. Thank you both!
I have a pdf of that whole thread if you need it.
I know that thread earned legendary status, but I never understood why. Why?
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It was a common occurrence on the forum when someone would come looking for an easy way out of their financial situation. The answer provided would always be pay your bills, deadbeat. After the IBJanky story was posted, the people asking for an easy way out of their financial situation no longer got the standard PYBD, answer, instead the answer was here’s what you do and if IBJanky could do it, so can you.
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Right but, still, why? The person was in debt, and climbed out of it. Anyone can do it. But that doesn’t mean IBJanky’s case was unique. Creditboards had/has TONS of those cases, with people in far worse situations. I agree, @scripta, I never understood it either. Certainly not discrediting IBJanky, but yeah…
For me, FW was about to close and people were referring to it. As someone who’s trying to get my finances in order, it was helpful to see suggestions on how to do that. There were terms and strategies I didn’t know/realize that could be used to help: HELOC, PLOC, BT, requesting to have my interest rate lowered, or taking out of my 401k. (newb here)
@jaytrader, do you have a specific site in mind when you wrote, “Creditboard”?
creditboards.com - arguably THE site for credit-related subjects, such as bankruptcies, mortgages (with regard to credit, not rates), credit portfolio building, how to get negative factors off your reports, etc.
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And here I thought it was a generic term. That site looks great!
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