Over $50,000 In Debt And Losing My Job!

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36 replies
  1. Jessica Smith
    Jessica Smith says:

    His story is similar to the one I heard from a woman at a local support group I sometimes go to. She was a TSA worker making a good amount of money. But, she was medically laid off and has been fighting for worker's comp ever since. Like this guy, she's about 40. The only difference between this guy and the woman I met is that she doesn't have any major debts. But, she is struggling to get by not to mention back pay due to her medical issues.

    Reply
  2. Arlene Augusta
    Arlene Augusta says:

    Ok I can see that there are a lot of civilians on this page. He is medically retiring from the military. He lives on base, which is “government housing.” Medically Retiring means he will get a disability check plus a portion of his base pay. He will get extra money for each dependent he has.
    He is definitely NOT retiring as an E-6. He sounds like he’s an Officer. He probably had his physical done and was awarded 100% disability. Now there are 2 different types of 100%, one is total and permanent, which means he cannot get any kind of job. The other one is just 100% and he can still work. It just depends on what his disabilities are. Most likely, he will use the GI Bill or Vocational Rehab to go back to school and he will get more money. On paper, he will be considered poor because disability does not get taxed only his retirement pay gets taxed so he will be eligible for Financial Aid. Yes he can easily clear $6,000 to $7,000 a month. If his wife is eligible, she can also get paid as his care taker, which is about $1,200 a month. Unfortunately, he will most likely have a lot of VA medical appointments in the beginning until they can sort everything out, which could take up to a year or longer.
    If he’s smart, he will move out of California and go to a large military town because he will still have military affiliation and the care will be completely different. Plus in large military towns, everything is geared towards Active Duty service members and Veterans. Plus as a Retiree, depending on where he’s located, he can still live on base.
    Now ask me how I know? I’m a Disabled Veteran and my husband is a Retired Disabled Veteran. I was Finance so I know the ins and outs.
    He will be just fine as long as he doesn’t live above his means.

    Reply
  3. Haley M
    Haley M says:

    I am a student, debt free when I graduated. I want to get plastic surgery. This year I just got into med school on a full ride grant which does not cover living expenses, just tuition.

    I want to get plastic surgery in 2020. Is it wise to take out a loan for it and pay it off with some investments that I made over the course of the years as an undergraduate?

    Reply
  4. Cory Spears
    Cory Spears says:

    Why do people continue to finance insanely priced vehicles and complain that they are broke???????
    Those gigantic vehicles are not worth it!!!!!!
    If you send all of your income to debtors, it’s a guarantee that you will never be financially secure!
    Dave is so much more patient than I could ever be!!

    Reply
  5. Eddie Wow
    Eddie Wow says:

    This caller might be at least an E-6 with at least 16 years in.. problem with some military folk, they get a lot of money with little knowledge on how to save it.
    They do not think about the probablilities of them not making 20 years in.. hope he at least got his TSP and ROTH IRA stacked before the military kicks him out..

    Reply

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