Fianl Payment due and I dont have enough money.

[Bazzgurl26]

Wow! Um...... Well while I didn't ask for any financial advice I appreciate everyones imput. While this may seem like a stupid idea to most it was actually thought and and contemplated for a long time. The loan was mainly taken out to pay for some medical treatments that we couldn't afford (even with insurance) we didn't get to take our honeymoon when we first got married so we wanted to use a little of the loan to go on a vacation we need and deserve!

 

It's a 401k loan. Not a hardship loan. We pay it back out of our paychecks and the interest is paid right back to us. It was a smarter better way to get the money we needed without having to pay a crap load in interest rates.

 

I called NCL and they said they do not extend final payment dates! Which is fine cause I can just cancel now and rebook the cruise when our check comes in.

 

Thanks again for the responses

[Soxfan05]

Have a great time Jenny! Please report when you get back.

 

Your post is very gracious but I hope you get apologies from those who owe them to you for their mean spirited comments- even those that were veiled as "advice".

[BIG_Steve]

Have a great time Jenny! Please report when you get back.

 

Your post is very gracious but I hope you get apologies from those who owe them to you for their mean spirited comments- even those that were veiled as "advice".

 

I agree, and have a great time, Jenny.

 

I hope you'll keep posting here. Some folks just can't keep their traps shut. Only YOU know what's best for you.

[SnootieTootie]

I agree, and have a great time, Jenny.

 

I hope you'll keep posting here. Some folks just can't keep their traps shut. Only YOU know what's best for you.

 

 

Well said, and ditto, ditto

[Obi1]

Good for you Jenny! I hope you and your husband have a well-deserved vacation!

 

You certainly didn't have to explain yourself - how you pay for your cruise is reallly no one else's business. You really only asked about how you could possibly extend your final payment, not what to do with your retirement funds!:eek:

I hope it all works out well for the both of you! Alaska is beautiful!!!

[Viesczy]

As far as I know, NCL gives a little wiggle room with payment. Our first cruise with them was through a TA, $ was due on like 8.1 and I forgot to contact the TA to put the rest of the $ through on my debit card on 8.1, she called me on like 8.8 to confirm it was okay and confirmed all was still good with the room.

 

Now for everyone jumping on how the OP is paying for the cruise, who cares? It is the OP's $ to spend, unless you SPEND the $ it doesn't have any value, and you all seriously think the 401k is the be all & end all for your retirement after all that has happened no matter how diversified you are in your 401k? Really?

 

Derek

[gcdogwalker]

It's none of our business if she takes the money out of her retirement fund. Who knows what will happen in the future? The question she asked is what should she do about her payment. Good luck to her, I hope she has a great cruise.

[Music City]

I would cancel. If you are having trouble paying now, it could easily get worse. The loan may not come through. If your job goes away, you have to pay it back in short order or face severe IRS penalties, which apparently you can not afford.

 

Hopefully you have also figured out that you need $12 a day each for service charge. Tips for other stuff. Money for drinks and tours.

 

No, the OP did not ask for advice, but they are CRYING out for help.

 

Very, very bad decisions taking place here.

 

Do you give this same advice to people who charge their cruise on a credit card and make payments at 19.9% interest?

 

I can't see much from her picture but they look young and have plenty of time to pay the loan back.

[jdpudge]

Do you give this same advice to people who charge their cruise on a credit card and make payments at 19.9% interest?

 

I would certainly hope so. Anyone who cares about the individual's future would warn that paying 20% interest on a luxury that is worth nothing but memories a week later is a mistake.

 

And to the "mind your own business" crowd (who seem amusingly unable to take their own advice in this instance)... such warnings are the kinds of things that you should HOPE that friends give you. No... we should not make decisions for others... nor should we tell them that they MUST act in a particular way. Adults are free to make their own mistakes.

 

But there are thousands upon thousands of people who today WISH that they had such advice from someone a year (or ten) ago. "Medical costs exceeding insurance" is one of the (if not THE) most common cause of bankruptcy. It's already a big hit to borrow against retirement funds to pay these expenses that they couldn't otherwise afford. Saying "while we're at it, why don't we take out some more and go on a cruise?" is beyond understanding for many people.

 

It's reasonable to advise that the OP think about it. If there's more to the story that makes it a more reasonable decision, they can decide that for themselves. Maybe the OP expects to inherit some money in the near future... or just got a great new job and knows that this will be easy to repay quickly. Maybe someone has a progressive illness and won't be able to cruise in a couple years. Who knows? Voicing concerns doesn't mean that the person thinks they know enough to make the decision for you... it just means that what they DO know concerns them... and they care.

 

 

I'm sure that many Dave Ramsey listeners wish they had a little more "that sounds like a mistake" and a little less "it's your life, do whatever you want" back when they were digging their hole.

[SnootieTootie]

I think that only if we are Jenny's mother or father do we have the "right" to give her financial advice. And even then, it would be questionable if financial advice would be welcome.

 

I have adult children, and the mom side of me would definately want to caution them against spending their 401 money on a vacation, but I doubt that I would give such advice. Rather, I think I would keep quiet, and let them learn from what I would perceive as a mistake. Just because I think it is a mistake, doesn't make it a mistake.

 

As others have said, we do not know another's life circumstances. A vacation sometimes is a much needed temporary escape from a stressful life that is sometimes to much to bear.

[Mrs. H.]

Looks like its time for this thread to close. :rolleyes:

 

 

I still agree with what Jenny did.

Good luck to you Jenny, I hope you hit lotto!

[garycarla]

Even though I was one of those giving advice - it is important to note the NUMBER ONE reason for the severe economic problems we have today including terrible unemployment is that people borrowed more money than they could pay back. Nothing else.

 

 

(you can blame the banks for lending it, but PEOPLE still borrowed money they should not have borrowed and it went downhill from there)

[BIG_Steve]

LOL

 

 

Well, MY advise for Jenny is live your life, remember that free advice from strangers on the web is worth every penny, and have a great cruise.

[Mrs. H.]

Even though I was one of those giving advice - it is important to note the NUMBER ONE reason for the severe economic problems we have today including terrible unemployment is that people borrowed more money than they could pay back. Nothing else.

 

 

(you can blame the banks for lending it, but PEOPLE still borrowed money they should not have borrowed and it went downhill from there)

 

Do you really want to go there?? :confused:

People borrowed and took a balloon payment mtg so while they were paying a low mortgage every month, I was paying a much higher one. Now that the balloon payment comes into effect, they cry bankrupt, lose their homes while I am still paying my higher monthly mortgage and not complaining and knowing that I have a roof over my head.

 

Lets just say that couple a paid $500 a month while couple B paid $1,000 per month. I wonder how many cruises couple A got to go on instead of putting $$ aside for the balance that was due at maturity. :rolleyes:

 

[Obi1]

I would certainly hope so. Anyone who cares about the individual's future would warn that paying 20% interest on a luxury that is worth nothing but memories a week later is a mistake.

 

And to the "mind your own business" crowd (who seem amusingly unable to take their own advice in this instance)... such warnings are the kinds of things that you should HOPE that friends give you. No... we should not make decisions for others... nor should we tell them that they MUST act in a particular way. Adults are free to make their own mistakes.

 

But there are thousands upon thousands of people who today WISH that they had such advice from someone a year (or ten) ago. "Medical costs exceeding insurance" is one of the (if not THE) most common cause of bankruptcy. It's already a big hit to borrow against retirement funds to pay these expenses that they couldn't otherwise afford. Saying "while we're at it, why don't we take out some more and go on a cruise?" is beyond understanding for many people.

 

It's reasonable to advise that the OP think about it. If there's more to the story that makes it a more reasonable decision, they can decide that for themselves. Maybe the OP expects to inherit some money in the near future... or just got a great new job and knows that this will be easy to repay quickly. Maybe someone has a progressive illness and won't be able to cruise in a couple years. Who knows? Voicing concerns doesn't mean that the person thinks they know enough to make the decision for you... it just means that what they DO know concerns them... and they care.

 

 

I'm sure that many Dave Ramsey listeners wish they had a little more "that sounds like a mistake" and a little less "it's your life, do whatever you want" back when they were digging their hole.

 

I just don't understand what this has to do with how the OP can extend her final payment, which is the question that was asked to begin with. :confused:

[Bazzgurl26]

Oops!!! can open....worms everywhere! Sorry to be the cause of the drama! I was merely asking for advice on the final payment. Not about my financial situation. My fault for bringing it up! We are adults and understand what we are doing and frankly don't need to be flames from complete strangers. This has turned into a silly political/financial debate. My question has been answered! Enough already!

[NCL_Cruiser]

Wow! Um...... Well while I didn't ask for any financial advice I appreciate everyones imput. While this may seem like a stupid idea to most it was actually thought and and contemplated for a long time. The loan was mainly taken out to pay for some medical treatments that we couldn't afford (even with insurance) we didn't get to take our honeymoon when we first got married so we wanted to use a little of the loan to go on a vacation we need and deserve!

 

It's a 401k loan. Not a hardship loan. We pay it back out of our paychecks and the interest is paid right back to us. It was a smarter better way to get the money we needed without having to pay a crap load in interest rates.

 

I called NCL and they said they do not extend final payment dates! Which is fine cause I can just cancel now and rebook the cruise when our check comes in.

 

Thanks again for the responses

 

 

Please re-read message #7.

 

They may not "give extensions," but they don't cancel if not paid by the deadline.

[Mrs. H.]

Oops!!! can open....worms everywhere! Sorry to be the cause of the drama! I was merely asking for advice on the final payment. Not about my financial situation. My fault for bringing it up! We are adults and understand what we are doing and frankly don't need to be flames from complete strangers. This has turned into a silly political/financial debate. My question has been answered! Enough already!

 

This just gives us all something to do until our next cruise. lol :D

 

Just remember, I'm on your side!! :)

[Obi1]

Oops!!! can open....worms everywhere! Sorry to be the cause of the drama! I was merely asking for advice on the final payment. Not about my financial situation. My fault for bringing it up! We are adults and understand what we are doing and frankly don't need to be flames from complete strangers. This has turned into a silly political/financial debate. My question has been answered! Enough already!

 

SORRY - I should have stayed out of it, but couldn't help it. :o I just wanted to let you know I support your decision and wish you luck with whatever happens in the end! I hope you enjoy your cruise!

Alaska is truly magical and I hope you have the honeymoon you never had! :)

[Bazzgurl26]

Thanks to the ones who Offered the kind words! We are very excited!

[Tiffany1203]

It is disappointing they wouldnt work with you which in turn forced you to cancel...whose to say you even re-book with them?? Unless you have some sort of credit....but still....:confused:

[Music City]

Thanks to the ones who Offered the kind words! We are very excited!

 

I wished I had started cruising when I was younger. Instead it took me 50 years to figure it out.

 

Sorry for all the crap you took from judgemental people who apparently aren't as smart about finances and economics as they thought they were. And don't worry about the rebooking. Most likely you will get it cheaper or they will reinstate the original booking. You may not get the same cabin if it has been filled, but that ain't no big deal. Whoever you talked to at NCL about they don't extend deadlines should be fired or reprimanded at the very least. I would file a complaint with their supervisor. It's just bad business not to try to work with customers to solve small problems.

 

Have fun and enjoy!

[petesweet]

Even though I was one of those giving advice - it is important to note the NUMBER ONE reason for the severe economic problems we have today including terrible unemployment is that people borrowed more money than they could pay back. Nothing else.

 

 

(you can blame the banks for lending it, but PEOPLE still borrowed money they should not have borrowed and it went downhill from there)

 

Not wishing to extend the argument, but I might add that the advice is coming from those of us who must pay for the indiscretions of others (can you say "bailout" and "bankruptcy"?) I'm not saying this applies to OP, but a word of caution never hurt.

And yes, I would give the same advice to the person who puts a cruise on a credit card. My credit card advice was offered to give a 30-day breather, since OP asked for advice.

There are those of us who never took any kind of "well-deserved vacation" until we were well up in years.

I'm out of here. Kathy

[Music City]

Even though I was one of those giving advice - it is important to note the NUMBER ONE reason for the severe economic problems we have today including terrible unemployment is that people borrowed more money than they could pay back. Nothing else.

 

 

(you can blame the banks for lending it, but PEOPLE still borrowed money they should not have borrowed and it went downhill from there)

 

Gary,

 

The NUMBER ONE reason for the sever economic problems we have today is not because people lost their jobs and couldn't pay their mortages, it's because of unscrupulous investors that took advantage of programs similar to and including NINJA loans. They simply found warm bodies that had absolutely no intention of paying back the loans, got inflated appraisals on properties and then got the warm bodies financed. The banks then bundled these bad loans and sold them to Fannie Maie and Freddie Mac, the warm bodies squatted as long as possible until they were forced out and the unscrupulous investors fled with the money.

 

That scenario was repeated millions upon millions of times until the house of cards collapsed.

 

I don't know the OP, but it appears they are both young, creditworthy, able bodied and will find a way to pay the loans back even if they lose their job(s).

[orangeh3]

Thanks to the ones who Offered the kind words! We are very excited!

 

I know you were asking for company policy and not anything to do with your financial polices...everyone who wrote their advice were very wrong.

 

I am sorry for your difficulties right now...11 years ago when we cruised for the very first time, the drs had given my husband 2-3 years to live...we borrowed from his 401K to take our cruise of a lifetime. Now let the people flame me and take the heat off of you.

 

Have a great cruise and enjoy Alaska...one of the most beautiful places we have cruised. And we are cruising Alaska again in Aug 2011...:)

 

After the first cruise, we are now on our 14th including the Epic TA.