Originally Posted by bobbyseal
I know I'm kind of resurrecting an old thread here, but I wanted to post a bit of a success story. In the past year my family and I have really worked hard at tackling our debt. We had a 0% interest card that had to get paid off by November 2011. In total we had about $8700 worth of charges on it. Then we had a car loan of about $6600 and my wife's student loan of $5800.
In contrast to most Americans I was fortunate enough to have an improving financial picture. I finished up school and was able to start working.
In a year and a 1/4 we were able to systematically pay off the 0% credit card without accruing any interest. Then we started working on the smaller loans working our way up. We paid off my wife's student loan and we paid off our car loan. Finally, we were able to get some money into a savings account for the "rainy day" fund.
We still have a few liabilities such as my student loan debt, but that's at 2.875%. So, I'm not too worried about the debt right now. In addition we had to move out of the city where we were living because of my job. We still have a home there that's being rented out - couldn't sell the home. We have a home equity loan and a mortgage on it. If we pay off the home equity loan we won't be underwater any more on the house. So, that's our goal for the next 6 months.
Anyway, this forum has been helpful for me to build confidence that I can get out of debt and move along in life. Good luck to everyone out there.
I have read your above post i was that you was in debt but by your best try you now get out yourself from debt .Good and congrats only hard work is a way to get rid from debt or any difficulties you proov it!!!!!