Debt

"OMG I WILL NEVER GET OUT OF DEBIT!!!", is this you?

So do you have debt? If so how much, 1k, 5k, maybe greater than 10k? So what lead to this horrible debt problem or bad situation? Maybe you are just buying a house, car, etc but haven't paid it off yet. Tell us what the root of your debt really is.

For the people who are debt free, how have you managed that? Any suggestions for those who are horribly in debit?

I personally just paid off my car and currently have no debt what so ever. It is nice not having a car payment every month, more money in my savings account.

Jam it back in, in the dark.

I don't have any debts, but I know of people who do, especially young people, and it always causes me headaches when I hear that 13, 14 yo people have like 10k debts because they're not able to pay their mobile phone bills.

There's nowhere I can't reach.

I've got some school loans, but thanks to deferrals I think I'll save them until I'm a millionaire or perhaps until the government tries to garnish my wages. Either way.

I was in about $1,000 credit card debt, but now that's fixed thanks to a good friend. I should marry that man right now.

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I have no credit cards and no money, so debt really isn't a problem for me.

Although I do own about $40 to the local library...

I am a dolphin, do you want me on your body?

I'll have about £10,000 worth of Student Loans to pay off when I graduate from Uni in May. No worries though, it will come out in short sums out of my wages when I get a job, and only if I earn over £15,000.

I was speaking idiomatically.

My credit card : 900$ Can
My car load : 3.5k

So that makes me 4.4k Cdn indebt, convert to USD and I'm about a McDonald's Cheeseburger away from being debt free...

Seriously though, I have about 1 year left of 300$ a month payments.

What kind of toxic man-thing is happening now?

I'm currently in quite a lot of debt due to student loans (~£10,000), but aside from that, nothing else. I paid off my car early, and I always make sure I only spend money on my credit card that I actually have!

FELIPE NO

Originally Posted by XtremeDJW

I'll have about £10,000 worth of Student Loans to pay off when I graduate from Uni in May. No worries though, it will come out in short sums out of my wages when I get a job, and only if I earn over £15,000.

£24,000 actually, I just deferred mine again yesterday.

As well as my £5,500 student loan, I owe the credit card people about £6,000 and have a bank loan for about £16,000 and a £1,000 overdraft.

Yeah, I'm pretty debt laden but I can afford it.

What, you don't want my bikini-clad body?

We have several credit cards over here, the house payment and that's about it. Luckily, the cards were just paid off of the approx. $30000 on them and don't plan on using them anytime soon. Actually, at least one was cut up to never be used again...

Decided to stick with my debit card!

Jam it back in, in the dark.

My college debt will probably be a couple thousand less than 100k. This is a sad thing to think about.
I had better be able to get some good jobs after I graduate, that is for sure.

There's nowhere I can't reach.

I have ~~~3.5k of debts mostly caused by mobile phone games, cake store bills and some computer franchise treaties which turned out to be 150% shit; I wonder maybe I can make friends on this board that are willing to help me out

This thing is sticky, and I don't like it. I don't appreciate it.

I've remaineddebt free buy waiting till I can afford somehing before buying it. Don't act like it's hard.

I am a dolphin, do you want me on your body?

Originally Posted by RABicle

I've remaineddebt free buy waiting till I can afford somehing before buying it. Don't act like it's hard.

Hear hear!

(Debt free, here. Only have one credit card, with a $500 limit, and it serves its purpose.)

I was speaking idiomatically.

Originally Posted by RABicle

I've remaineddebt free buy waiting till I can afford somehing before buying it. Don't act like it's hard.

That is so true. Student loans and mortgages are the exception to that rule, though.

My husband and I were severely in debt until about a year ago when we went to a cash-only budget. Bascially what we do is, on payday we pay our bills, put money in savings, and then whatever is left we divide into envelopes. (Just to give you an idea, some of the envelopes are labeled "gas," "groceries," "eating out," "clothing," etc.)

We have paid off so much debt over the last year it's not even funny. Plus, we've saved enough in our vacation fund to take an awesome (CASH ONLY) vacation to Las Vegas this summer. =)

What kind of toxic man-thing is happening now?

Originally Posted by Shin

£24,000 actually, I just deferred mine again yesterday.

As well as my £5,500 student loan, I owe the credit card people about £6,000 and have a bank loan for about £16,000 and a £1,000 overdraft.

Yeah, I'm pretty debt laden but I can afford it.

Really? Thats quite a high wage bracket. I'm sure it was lower than that.

FELIPE NO

Well, as of my Senior Year (starting Fall 2006) I'll owe only $5,500 dollars and by the time I graduate it'll be around $7,500 to $10,000. Not bad at all with 3 years of University under my belt compared to my friends; some of them at the same school are about $20,000 in debt as of Junior Year.

God school is a pain.

What, you don't want my bikini-clad body?

I have a few thousand dollars now that will increase until I finish school. I don't begin payments on my student loans until six months after I graduate college, so I should be able to pay by then. No credit card debt either. At least nothing over $200.

How ya doing, buddy?

In my opinion there are 3 things worth getting in debt for: School, House, and Car. And Car is only if absolutely necessary. A fourth would be obscene medical expenses, but most people should be able to not worry about that because of insurance. Anything beyond that is stupid in my eyes.

At the moment I'm debt-free since I managed to earn a full tuition scholarship for my undergrad work. I'll be buying a car soon enough but shouldn't have to go into debt over it because I've got enough in savings. Grad School's going to hurt, however, no doubt about that.

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My family are a little in debt but i am unsure of how much. My Mum is always moaning about how much we over spend and how many loans we have but i never ask her about it. It wouldn't help if i knew more about it anyways because i can't help.

We're not majorly in debt, but the situation could be better

This thing is sticky, and I don't like it. I don't appreciate it.

I've got about £4,000 of debt from having a student loan in my first year at uni, and my parents decided that they don't want to let me get any deeper into debt so for my second year they've decided to give me money from their savings of around the same amount instead. I don't think they intend me to pay it back either, but it'd be pretty harsh not to I think.

I am a dolphin, do you want me on your body?

I owe my friend a can of coke, and that's about it.
I really, really HATE debts, and I never put my self in such a situation.

I was speaking idiomatically.

Originally Posted by Arainach

Grad School's going to hurt, however, no doubt about that.

You should look into some company that can sponsor your graduate work. A friend of mine, and former housemate, who is gong to grad school, said that if you are stuck paying the full costs of your graduate school, then you should probably not go.

What kind of toxic man-thing is happening now?

Originally Posted by XtremeDJW

Really? Thats quite a high wage bracket. I'm sure it was lower than that.

It's £2,100 a month before tax so that's £25,200 annual salary. It's taken a big hike from last year actually. I'm sure I was quite close to the limit last year but I'm nowhere near it again now. ^_^

FELIPE NO

I guess I'm lucky. My parents are able to pay for all my tuition. The only thing I have to worry about is my living expense, which I support with a job. Not sure if they're going to pay for my grad school if I decide to go.

How ya doing, buddy?

currently 10k plus and still counting.. got quite a few more years before I graduate and then I'll have to start paying .. good thing interest on my loan has been cancelled

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