ilmscore | Financial Audit's Gayest Couple

Financial Audit's Gayest Couple

Predictions from this Video

Total: 6
Correct: 2
Incorrect: 0
Pending: 4
Prediction
Topic
Status
The couple is predicted to incur late fees on their bills.
"Oh, there's definitely going to be late fees."
Personal Finances
Correct
An $800 deferred interest charge will be added to the Best Buy credit card balance within approximately one week if the current balance is not paid off.
"$800 of interest will hit and $800 will be added to the balance of this card if it is not paid off... in about a week."
Debt
Correct
The Best Buy credit card debt is predicted to take 13 years to pay off if only minimum payments are made and no new purchases occur.
"13 years to pay this off. By the way, doing minimums without purchases"
Debt
Pending
A $2,000 deferred interest charge will be added to the Care Credit balance in 10 months if the full balance is not paid off.
"In in 10 months, deferred interest of at that time, they will add $2,000 to the balance."
Debt
Pending
The couple's total debt (excluding mortgage) is predicted to take 86 months (approximately 7 years) to pay off if only minimum payments are made.
"86 months to pay off. Seven years on minimum though."
Overall Debt
Pending
The host predicts the couple's most probable financial path involves either significantly increasing income or, more likely, filing for bankruptcy to clear credit card debt and attempting to sell the timeshare.
"That's kind of where we're landing is where either you need to bring in more money or you're doing bankruptcy or consolidation, but probably bankruptcy because it'll be on your record as long as paying off all his debt would be anyway, but it's a lot less stress... bankruptcy with the credit cards and we pay off our cards and everything else and the time share as quick as we can and hopefully sell that eventually. But [music] I think that's our path."
Financial Strategy
Pending