Done

[KDKPSJ]

Thanks for the comments, I decided to take care in my own way.

 

[bonkers325]

can your parents immediately payback the $3k/mo charged on their credit? if not, then u may just think about getting a loan.

and any sort of tax evasion will get u or ur parents in trouble, i'd advise against it if you are worried at all.

 

[Turin39789]

get a job

 

[Capt Caveman]

Why not just write a cash advance check from their credit card instead of using GCO? I believe only gifts over $10k are taxable.

 

[pontifex]

$3k a month?!?!?! I only make about half that and I work full time!

If your parents have no money, how can they afford to give you $3k a month?? you'd be a horrible son/daughter for accepting that.

What do you need $3k a month for?

Get a fvcking job.

 

[pontifex]

Originally posted by: bonkers325
can your parents immediately payback the $3k/mo charged on their credit? if not, then u may just think about getting a loan.

and any sort of tax evasion will get u or ur parents in trouble, i'd advise against it if you are worried at all.

can you get a loan without a job?

 

[KDKPSJ]

..

 

[JasonE4]

Why don't YOU use a 0% BT offer rather than getting your parents involved right now?

 

[waggy]

Originally posted by: pontifex
$3k a month?!?!?! I only make about half that and I work full time!

If your parents have no money, how can they afford to give you $3k a month?? you'd be a horrible son/daughter for accepting that.

What do you need $3k a month for?

Get a fvcking job.

hahah i was thinking the same.

 

[KnickNut3]

How about they send you a copy of their 0% card (and set you up to use it). Then just charge all your groceries and necessities, they don't have to pay interest, no cash advance fees, and you won't have to take more than you need from them.

Then they can just give you some petty cash if necessary, but just charge everything you can.

 

[Capt Caveman]

Originally posted by: everydae
Capt Caveman:
Well.. because of something called cash advaned fee they prefer not to use those.

Well, if you want to do it legally, pay the damn fee. If they don't have the money, they're going to pay a ton out in interest anyways.

 

[Ricochet]

Originally posted by: Turin39789
get a job

Sounds a bit harsh, but agreed. Swallow your pride and sign up with a temp agency to earn money for the time being. Look for a better job while you're working.

If your parents can't support you without using their credit card it's a bad situation all around. Cash advance has outrageous interest charge. Don't put your parents through that.

In the mean time, you should be cutting a lot of your expenses. Be frugal as possible. That means cable, internet, going out to eat, and etc will all have to go. You don't need $3k/month to survive.

 

[DainBramaged]

Originally posted by: pontifex
$3k a month?!?!?! I only make about half that and I work full time!

haha...you must have a shitty job :laugh:

 

[Canun]

A gift is taxable when the amount is over $11k a year. So if you recieve support for more than 3 months, you would need to fill out a gift return. Unless your parents want to make it a business and charge you interest. What about unemployment, do you qualify? As far as the IRS goes, it gets in a grey area. I'm not an accountant, just work with tax returns year round, but I'd think it would almost be considered other income.

 

[Boo Boo]

if they use a cc to give you money it is no longer a gift. it is incoime which is taxable.

the 10000 gift option by the irs is for assests you have to give family so if you do not have the cash asset it is not a gift

start selling your blood and other fluid at the university

and apply for state welfare. unemployment and food stamps.

dont be a leech

flip a burger

 

[pontifex]

Originally posted by: DainBramaged

Originally posted by: pontifex
$3k a month?!?!?! I only make about half that and I work full time!

haha...you must have a shitty job :laugh:

yeah, pretty much. i'm one of the few people here that makes less than $100k a year, i don't have a gf at all, much less one that is a supermodel, and I drive a Saturn.

 

[Boo Boo]

ps unless you are a lazy fat boy

join the srvice you get more than emough money and you dont have to borrow from your mommy

 

[Turin39789]

Originally posted by: everydae
bonkers325:
Thanks for the comment. They actually want to use 0% APR card, so they can pay back over time.

Turin39789:
Obviously I am trying. I am pretty sure I can figure out something by the end of the month, but since it's not 100% sure, I just want to prepare backup.

Capt Caveman:
Well.. because of something called cash advaned fee they prefer not to use those.

pontifex:
Because of rent, student loan, auto loan, etc. They just want "safe margin." And they can pay back $ 3k a month, just they don't have extra bucks until next month, and also, they want to get advantage from 0% APR.

And again, yes, I am trying to get a fvcking job. But well, they also want me to take some time so I can get a right job as an accountant. Not like my last job, which seriously underpaid me.

I know credit cards have programs to work with you if you lose your job, do the loans have similar programs?

Laid off - does that mean you are getting unemployment or were you fired?

My parents wanted me to be able to stand on my own and make my own way. You are supposed to take the job that underpays you and look for a better job while you pay your own bills. Using a credit card to get cash has never been a good idea to me.



*No warranty implied in this post. All situations are different and post is likely not relevant. Not reedemable in New Jersey or California.

 

[mugs]

Originally posted by: Boo Boo
if they use a cc to give you money it is no longer a gift. it is incoime which is taxable.

the 10000 gift option by the irs is for assests you have to give family so if you do not have the cash asset it is not a gift

It's $12,000. Which makes me think that the bit about it being taxable because it came from a credit card is not so accurate either.

 

[alkemyst]

Originally posted by: ricochet

Originally posted by: Turin39789
get a job

Sounds a bit harsh, but agreed. Swallow your pride and sign up with a temp agency to earn money for the time being. Look for a better job while you're working.

If your parents can't support you without using their credit card it's a bad situation all around. Cash advance has outrageous interest charge. Don't put your parents through that.

In the mean time, you should be cutting a lot of your expenses. Be frugal as possible. That means cable, internet, going out to eat, and etc will all have to go. You don't need $3k/month to survive.

If I grossed 3k a month it wouldnt even cover my mortgage. It really depends what liabilities he has and where he lives.

 

[SpiderWiz]

Why would you want to be a burden to your parents? It's cool if they have the cash to spare but to even entertain the ideal of them going in debt to help you is just silly. What about unemployment? What about moving back in with them until you get a job? Either of those option seem better then allowing them to run up their credit cards.

 

[KK]

Originally posted by: mugs

Originally posted by: Boo Boo
if they use a cc to give you money it is no longer a gift. it is incoime which is taxable.

the 10000 gift option by the irs is for assests you have to give family so if you do not have the cash asset it is not a gift

It's $12,000. Which makes me think that the bit about it being taxable because it came from a credit card is not so accurate either.

Yeah, I don't believe boo boo knows much about the tax laws to be giving advice.

 

[compman25]

Are you too proud to flip burgers but not to proud to leech off your parents? Is that right?

 

[Beattie]

So you don't have any savings and now you are hoping your parents save you? Don't take their money. Sell things if you have to and find a job delivering pizzas or whatever if you need money that bad.

 

[mugs]

Originally posted by: compman25
Are you too proud to flip burgers but not to proud to leech off your parents? Is that right?

Flipping burgers will net him about $200 a week. If he really needs $3000 a month to live on (which is believable if he lives in a nice area of NJ), $200 a week will barely make a dent, and it will take time away from his search for a good job. I agree that it's a bad move since his parents apparently need to borrow the money to lend to him, but if they're OK with making piss-poor financial decisions, have at it.

OP - what about unemployment benefits? This is exactly the type of situation that it is intended for... I believe it pays about 60% of what you made on average for the past year? They don't take taxes out, but you WILL have to pay the taxes on it at the end of the year.