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Old 09-27-2009, 03:33 PM
 
24 posts, read 33,241 times
Reputation: 59

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No debt here, I think debt is the modern way to enslave the mind.
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Old 09-29-2009, 12:50 PM
 
Location: San Jose, CA
6,889 posts, read 17,066,321 times
Reputation: 2599
As recently as February I had $36K in debt. Now that is down by over $10K. I'm very fortunate in that I have been able to buck the economic trend; I am working more than ever, and making three times as much as I did just three years ago. My life is a whirlwind, but I've never been a single day late on any payment, and I feel proud of that.
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Old 09-29-2009, 06:23 PM
 
2,674 posts, read 3,955,785 times
Reputation: 2540
I find this post remarkable as most posters say they have no debt. According to reputable news stations the average American is carrying about $8k in credit card debt alone. Those who have had major medical expenses or are caught in the economic downturn with job loss and foreclosures are racking up credit card debt from $20k to over $100k.
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Old 09-29-2009, 06:34 PM
 
Location: Socialist Republik of Amerika
6,212 posts, read 8,492,115 times
Reputation: 1059
1.475 million

Ready to give it all back.
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Old 09-29-2009, 06:41 PM
 
110 posts, read 154,595 times
Reputation: 48
Quote:
Originally Posted by donsabi View Post
I find this post remarkable as most posters say they have no debt. According to reputable news stations the average American is carrying about $8k in credit card debt alone. Those who have had major medical expenses or are caught in the economic downturn with job loss and foreclosures are racking up credit card debt from $20k to over $100k.
I think alot of people who have debt, don't want to post that fact. Those that don't have debt, do want to post. And I don't blame them because having no debt is something to be proud of. I've worked hard to get ours down from $36K to $16K (not including mortgage) but I admire those who are already at $0 and hope to be among them in a couple of years.
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Old 09-29-2009, 08:26 PM
pll
 
928 posts, read 1,374,959 times
Reputation: 783
From all these great responses, it's hard to believe America's fianancial situation is as dire as the media reports.
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Old 09-29-2009, 08:29 PM
 
Location: Socialist Republik of Amerika
6,212 posts, read 8,492,115 times
Reputation: 1059
Quote:
Originally Posted by pll View Post
From all these great responses, it's hard to believe America's fianancial situation is as dire as the media reports.
Personal debt isn't the real issue... It's credit default crimes... National Debt...
High taxes... Career Criminal politicians/lawyers/bankers that will be this country's downfall.

Credit headroom just might come in handy when it's time to eat.
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Old 09-30-2009, 11:42 AM
 
Location: USA
137 posts, read 229,568 times
Reputation: 76
Just a mortgage here also. Didn't want it either but paying cash would've hurt the safety net, so the bank owns 40%........for now.
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Old 09-30-2009, 12:41 PM
 
Location: Arizona High Desert
4,579 posts, read 3,321,847 times
Reputation: 2520
I have no debt.
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Old 09-30-2009, 02:42 PM
 
Location: Boise, ID
5,597 posts, read 10,994,480 times
Reputation: 4997
I have a mortgage of about $95k, which I make extra principal payments on every month to pay down faster.

Other than that, husband's car will be paid off within 3 months, mine is paid for years ago and still in excellent condition.

Husband's student loans will be paid off by this February. Could have it paid off in about 6 weeks, but it is a lower interest rate than the car, so the car is getting paid off first.

At that point, we will be debt free besides the house, which will be a very nice feeling, since I couldn't rent a place this nice for the mortgage I pay.
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