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Almost Debt Free!!

congrats bro.

and stop using the credit cards.
 
I know your pain. I have essentially put a year of my life aside working seven days a week to try and get rid of my debt. I have halved it so far. It has handcuffed my future and my options to this point. I am lucky to be where I am but I want better for myself.
I would guess it will take me another year to get rid of it all. Then the world will open back up to me!
 
Way to go! I once froze my credit cards. Literally! I put them in a coffee can ran water in it and stuck them in the freezer. That way I had to really want something to thaw it out and use it. lol.
 
thanks Les!

Slat i know man.... all i really want to be able to do is get a new car. loan approval...
but i dont stay at jobs for long, unless im indipendant or the manager lol
 
HeatherRae said:
Way to go! I once froze my credit cards. Literally! I put them in a coffee can ran water in it and stuck them in the freezer. That way I had to really want something to thaw it out and use it. lol.
Click to expand...

LMAO that has to be the most interesting formula for self-restraint I have ever heard of.
 
HeatherRae said:
Way to go! I once froze my credit cards. Literally! I put them in a coffee can ran water in it and stuck them in the freezer. That way I had to really want something to thaw it out and use it. lol.
Click to expand...


Doesn't work with the internets. Maybe if I froze my memory.
 
I don't really see the point in worry about debt. That's all life really is is debt. There will always be bills, taxes, rent, etc. I could see if getting out of debt meant never having to spend money on anything other than recreation but that's simply not the case.
 
hanselthecaretaker said:
I don't really see the point in worry about debt. That's all life really is is debt. There will always be bills, taxes, rent, etc. I could see if getting out of debt meant never having to spend money on anything other than recreation but that's simply not the case.
Click to expand...

True. I'm about $18,000 in debt, and I consider that a small amount, debt-speaking. As long as I make enough $$$ to pay bills, put food on the table, and have enough to enjoy life, I'm happy. If it wasn't for being able to go into debt, I wouldn't have many things I do now.
 
megamania500 said:
True. I'm about $18,000 in debt, and I consider that a small amount, debt-speaking. As long as I make enough $$$ to pay bills, put food on the table, and have enough to enjoy life, I'm happy. If it wasn't for being able to go into debt, I wouldn't have many things I do now.
Click to expand...


~ $34,000 here. :wavey: I have funds in custody that would cover that but I'm going about it the hard way. :) It's for the better in the long run though. :smash:
 
GrandMaster said:
$600 more and im free!!!!

now i just have to wait a few mos for my credit to start going back up! :(
Click to expand...

Want good credit? buy a car (preferrably a truck or something that maintains it's value) and trade it in in about a year for another one. Keep doing that each year or two and your credit will take off. All the credit raters see is the fact that you keep paying your shit off early (from when the banks keep paying off your loans for the new one), and it's substantial amounts that are being paid off.

Now, I never said it was the most money smart thing to do - that's why you have to choose the vehicle wisely. I tire of vehicles quickly and have had a habit of trading them every one or two years just because I want something different.
 
2dagym said:
Want good credit? buy a car (preferrably a truck or something that maintains it's value) and trade it in in about a year for another one. Keep doing that each year or two and your credit will take off. All the credit raters see is the fact that you keep paying your shit off early (from when the banks keep paying off your loans for the new one), and it's substantial amounts that are being paid off.

Now, I never said it was the most money smart thing to do - that's why you have to choose the vehicle wisely. I tire of vehicles quickly and have had a habit of trading them every one or two years just because I want something different.
Click to expand...

That may be one way for someone to up their credit score. Problem is, many people with bad, or no credit history probably arent going to be able to finance that first car to begin with.
 
megamania500 said:
That may be one way for someone to up their credit score. Problem is, many people with bad, or no credit history probably arent going to be able to finance that first car to begin with.
Click to expand...

Your right :worried:
 
30K in the hole including my car.

Car is at 5.5%.

CC debt is at 1.9% for life.

No big deal, when I start my career, it should be paid off within a few years.
 
One of the better ways to increase your credit score, believe it or not, is to keep the credit cards open. Use them for one or two purchases a month then pay off the statement entirely. By closing the accounts you will actually take a negative hit to your score. Pay them off, but leave them be. Once your score has climbed back to a reasonable point then close the accounts one at a time every six months until you've eliminated the ones you don't want to keep.
 
dirty~d~ said:
One of the better ways to increase your credit score, believe it or not, is to keep the credit cards open. Use them for one or two purchases a month then pay off the statement entirely. By closing the accounts you will actually take a negative hit to your score. Pay them off, but leave them be. Once your score has climbed back to a reasonable point then close the accounts one at a time every six months until you've eliminated the ones you don't want to keep.
Click to expand...

Great advice.

I have some sub prime cards Im going to slowly start closing.

Maintaining them(using them every 6 mos) gets tiresome after a while.
 
one guy i work w/ is almost 6 figures in dept (Credit card, Student Loans) but he has no kids, or a mortgage and yet refuses to start paying any of it off. Somehow he keeps getting the student loan in deferrement, and transferring the debt from one card to another. For a guy having a masters he sure is an idiot
 
vansmack2000 said:
one guy i work w/ is almost 6 figures in dept (Credit card, Student Loans) but he has no kids, or a mortgage and yet refuses to start paying any of it off. Somehow he keeps getting the student loan in deferrement, and transferring the debt from one card to another. For a guy having a masters he sure is an idiot
Click to expand...

He's probably having too much fun just spending away any extra cash he makes.
 
GrandMaster said:
heh yea thanks!

i wasnt in debt hugely, but enough to slow me down from time to time
Click to expand...

How much?
 
Its a good feeling.

I was totally debt free but just purchased an SUV...


um...to you know - pull a motorcycle...or a boat.

LOL
 
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