Anonymous
Post 01/08/2019 14:06     Subject: Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:NP. The shutdown is bad timing for us too. My job tends to slow down in December/January and I've already missed two paychecks. Missing DH's fed paycheck is going to be tough. Missing two of DH's fed paychecks means calling the mortgage lender and begging.


So, your emergency fund doesn't even cover one month of expenses? I'm sorry. That is a tough position to be in.
Anonymous
Post 01/08/2019 14:04     Subject: Shut down could not have come at worst time withdraw. Some tap
NP. The shutdown is bad timing for us too. My job tends to slow down in December/January and I've already missed two paychecks. Missing DH's fed paycheck is going to be tough. Missing two of DH's fed paychecks means calling the mortgage lender and begging.
Anonymous
Post 01/08/2019 14:00     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.


Don't be dumb. You don't know the financial circumstances of the OP. They could have a balloon payment due this week or some other situation that you clearly know nothing about. Just answer the question.


No, I don't know, which is why I asked. And if the question doesn't really make sense (or is missing a lot of needed info) it is hard to provide useful information.

Let's say there is a balloon payment due. OP's take-home could be an absolute max of $6,000 pay period if she is in a senior position at a financial agency. In all likelihood, her take-home is a lot less. Not getting the $6,000 grand certainly doesn't help, but that still leaves $14,000 that would need to be repaid even if there was no shutdown.



Except that there's now a second pay period that we're approaching where the Government isn't paying. And maybe OP's spouse is a Fed. Just answer their question.


+1 On DCUM, half the questions about how to solve a problem are answered by people who prefer to explain why the OP's problem isn't legitimate.


It wasn't saying her problems weren't legitimate. It was saying that her problem, as presented, didn't really make sense. Once she clarified that she was looking for funds that could last a few months, I was able to offer a suggestion to hold off taking out more than necessary for a shorter term.

You may agree with that advice or not, but by actually providing enough detail in a post asking for help, people are better able to give advice.
Anonymous
Post 01/08/2019 13:58     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:
Anonymous wrote:The most likely scenario is that OP is taking out 2-3 months of funds so that they can pay down the debt and still survive for the next month or two since they are not likely to get another paycheck for at least 3-6 weeks. If you CC's are maxed out, paying one monthly payment and even paying down a little bit of the principle doesn't leave OP any money for next week or next month's payments when the paycheck is delayed due to federal funding.

this is it. Thanks, OP.


In that case, I would take out more than you need. Unless there are additional costs involved in taking out smaller amounts in tranches, you are better holding off as much as possible to see how things shake out since there is a decent chance this ends fairly soon.

Anonymous
Post 01/08/2019 13:57     Subject: Shut down could not have come at worst time withdraw. Some tap
Aren't Feds offered low or no-interest loans in shutdown scenarios?
Is that possible for you, OP?
Anonymous
Post 01/08/2019 13:56     Subject: Shut down could not have come at worst time withdraw. Some tap
OK, so now we know why OP is doing it but why are all the other options gone? What about the banks that are offering advances? short-term loans? i'd hate to break into my tsp without a significant (underlined twice) reason.
Anonymous
Post 01/08/2019 13:55     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.


Don't be dumb. You don't know the financial circumstances of the OP. They could have a balloon payment due this week or some other situation that you clearly know nothing about. Just answer the question.


No, I don't know, which is why I asked. And if the question doesn't really make sense (or is missing a lot of needed info) it is hard to provide useful information.

Let's say there is a balloon payment due. OP's take-home could be an absolute max of $6,000 pay period if she is in a senior position at a financial agency. In all likelihood, her take-home is a lot less. Not getting the $6,000 grand certainly doesn't help, but that still leaves $14,000 that would need to be repaid even if there was no shutdown.



Except that there's now a second pay period that we're approaching where the Government isn't paying. And maybe OP's spouse is a Fed. Just answer their question.


+1 On DCUM, half the questions about how to solve a problem are answered by people who prefer to explain why the OP's problem isn't legitimate.
Anonymous
Post 01/08/2019 13:53     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:The most likely scenario is that OP is taking out 2-3 months of funds so that they can pay down the debt and still survive for the next month or two since they are not likely to get another paycheck for at least 3-6 weeks. If you CC's are maxed out, paying one monthly payment and even paying down a little bit of the principle doesn't leave OP any money for next week or next month's payments when the paycheck is delayed due to federal funding.

this is it. Thanks, OP.
Anonymous
Post 01/08/2019 13:49     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.


Don't be dumb. You don't know the financial circumstances of the OP. They could have a balloon payment due this week or some other situation that you clearly know nothing about. Just answer the question.


No, I don't know, which is why I asked. And if the question doesn't really make sense (or is missing a lot of needed info) it is hard to provide useful information.

Let's say there is a balloon payment due. OP's take-home could be an absolute max of $6,000 pay period if she is in a senior position at a financial agency. In all likelihood, her take-home is a lot less. Not getting the $6,000 grand certainly doesn't help, but that still leaves $14,000 that would need to be repaid even if there was no shutdown.



Except that there's now a second pay period that we're approaching where the Government isn't paying. And maybe OP's spouse is a Fed. Just answer their question.
Anonymous
Post 01/08/2019 13:45     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
The most likely scenario is that OP is taking out 2-3 months of funds so that they can pay down the debt and still survive for the next month or two since they are not likely to get another paycheck for at least 3-6 weeks. If you CC's are maxed out, paying one monthly payment and even paying down a little bit of the principle doesn't leave OP any money for next week or next month's payments when the paycheck is delayed due to federal funding.
Anonymous
Post 01/08/2019 13:08     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:
Anonymous wrote:How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.


Don't be dumb. You don't know the financial circumstances of the OP. They could have a balloon payment due this week or some other situation that you clearly know nothing about. Just answer the question.


No, I don't know, which is why I asked. And if the question doesn't really make sense (or is missing a lot of needed info) it is hard to provide useful information.

Let's say there is a balloon payment due. OP's take-home could be an absolute max of $6,000 pay period if she is in a senior position at a financial agency. In all likelihood, her take-home is a lot less. Not getting the $6,000 grand certainly doesn't help, but that still leaves $14,000 that would need to be repaid even if there was no shutdown.

Anonymous
Post 01/08/2019 13:04     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
Anonymous wrote:How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.


Don't be dumb. You don't know the financial circumstances of the OP. They could have a balloon payment due this week or some other situation that you clearly know nothing about. Just answer the question.
Anonymous
Post 01/08/2019 13:03     Subject: Shut down could not have come at worst time withdraw. Some tap

Yes, don't do anything rash, OP.
Anonymous
Post 01/08/2019 13:01     Subject: Re:Shut down could not have come at worst time withdraw. Some tap
How does delaying (or even missing) one paycheck create this problem?

If you owed 20k and for some reason need to pay it back immediately, one paycheck wouldn't make that much of a difference.
Anonymous
Post 01/08/2019 12:56     Subject: Shut down could not have come at worst time withdraw. Some tap
All other options are gone. What damage have I not thought of when i withdraw 50k of tsp to pay 20k in debt?