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Unread 09-27-2009, 02:33 PM
 
24 posts, read 27,054 times
Reputation: 59
No debt here, I think debt is the modern way to enslave the mind.
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Unread 09-29-2009, 11:50 AM
 
Location: San Jose, CA
6,484 posts, read 14,838,658 times
Reputation: 2190
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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Unread 09-29-2009, 05:23 PM
 
2,641 posts, read 3,408,787 times
Reputation: 2479
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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Unread 09-29-2009, 05:34 PM
 
Location: Socialist Republik of Amerika
6,212 posts, read 7,665,137 times
Reputation: 1045
1.475 million

Ready to give it all back.
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Unread 09-29-2009, 05:41 PM
 
109 posts, read 133,676 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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Unread 09-29-2009, 07:26 PM
pll
 
890 posts, read 1,165,952 times
Reputation: 668
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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Unread 09-29-2009, 07:29 PM
 
Location: Socialist Republik of Amerika
6,212 posts, read 7,665,137 times
Reputation: 1045
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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Unread 09-30-2009, 10:42 AM
 
Location: USA
137 posts, read 203,404 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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Unread 09-30-2009, 11:41 AM
 
Location: Arizona High Desert
4,515 posts, read 2,886,348 times
Reputation: 2444
I have no debt.
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Unread 09-30-2009, 01:42 PM
 
Location: Boise, ID
4,945 posts, read 8,308,021 times
Reputation: 4150
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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