Well, as of a few days ago, I was in $16,000 or so debt, but my freakin' awesome Dad took advantage of his great credit to open a few credit cards in his name that have ridiculously low aprs. So, he gave me the money, I paid off all my debts, and now I'll be able to pay him back in like two years as opposed to the 32 year track I was on. My next debt will be an engagement ring.
Coming out of college I ammassed about 7 Grand... I've paid all that off.. Current debt - under $1000...
Do I get to count my wife's debt? My salary is paying for her debt and mine, so I like to count it. Student debt started at about $50,000 for the two of us. I don't know how much is left after paying for 3-4 years. So far on this thread, I'm the 'winner', though I know someone who has higher debt than my wife and I combined.
After college it was well over $30,000 combined with my wife...(she had more ) Now, we brought it down to $6000 combined...Our goal is to be as debt-free as possible. You don't know how bad it feels to be under so much...Amazing how it adds up also.
You guys are lightweights. I am at around $70,000. By far the biggest portion is from student loan debt (law school), but I've also got some credit card balances that I'm working on.
Damn IRS ... 1800. They came knocking on my door last week with a certified letter. Im starting this new program. im going to pay the IRS with a credit card, and then immediately get one of those "0%" for 6 months credit cards. i'll hack at that for about 4 months, then get another 0% credit cards and do a balance transfer. Hopefully it will be paid off by then. Then I'll be debt free! Woohoo! Next: Engagement ring ect ...
Why hasn't anyone mentioned their mortgage? It's listed in the original question. I just re-financed my house, so my starting point is $118,000. Add to that about $8,000 in credit card debt and $14,000 in two car loans, and I lead the pack @ $140,000 in debt. Oh crap, I never looked at it as one lump sum. I feel sick !
I just refinanced, so aside from my mortgage (50,000 for the rest of my life) I owe a few hundred to BestBuy (new DVD and TV for the refinance celebration) and about 1grand (I already anticipated my refinance and charged all my NEW bike parts) I'll be at ZERO by Feb or March! OH, I was almost 10 grand in the hole from credit cards before all this refinance stuff. WHEW!!!!!! I've learned my lesson though, from now on its CASH< CASH< CASH!!!
Ouch!! Just kidding RM....... Im holding on to single life until the bitter end, unless I find a girl who likes Rocketball as much as I do......
The only debt I have since I live rent-free is my Maxima, which has a balance of over $16K and a credit card that has a balance of around $1000.
By the time I finish my undergraduate degree this may, I'll have amassed about $24,000. Unfortunately, law school awaits .
I was cash-rich when I bought my car, so I don't owe anything on it, so that cuts my debt down considerably. I'm thinking my total personal debt is around $3,000 or so, including a student loan I took out at one point. Planning on replacing my car soon and trying to get a house, so I plan to greatly increase my debt very soon.
