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| Debt Anything to do with debt including debt reduction, debt concerns, debt consolidation and how to get out of debt |
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11-04-2008, 01:51 PM
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Unless you house is fully paid, mortgage payment IS a form of debt. It should even be a debate.
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Carpe Diem 
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11-10-2008, 07:25 AM
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I just found out that I am $8000 in debt.
Co signed on ex's car loan. She surrendered the car, now doesn't want to pay. =( So I will have to pick up the tab and take her to court later. I will be writing a check for $7833.13 tomorrow. I will take her to court when I get back from deployment next August. The divorce decree is in my favor on this, and JAG and my lawyers say I will win when I take her to court. So, it's a temporary loss... She doesn't make much, so I'm sure I will only be able to garnish a little bit, but she won't collect her 2009 or even 2010 tax refund. Other than that, I'm in the clear. I guess I should be happy that's the only problem in my life right now.
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11-10-2008, 07:32 AM
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__________________
Steve * Despite the high cost of living, it remains very popular. * Why should I pay for my daughter's education when she already knows everything? * There are no shortcuts to anywhere worth going.
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11-10-2008, 07:38 AM
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Her wages should be garnished anyways once I take her to court. She is not smart enough to adjust anything, and if she does, that is just more that would come to me monthly. I'm not sure how they figure the %, but I'm sure its not going to be much.
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11-10-2008, 09:22 PM
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I have about 12k in miscellaneous debt and 31k in student loans (my wife and I combined on both of these). We should have the non-SL debts cleared with a year or so.
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11-30-2008, 08:17 AM
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As i think you can conclude from these replies, debt is not always a bad thing. Most people don't have the money to buy big ticket items like a house or car upfront with cash and that's why they finance these items with a loan they pay back over time.
Debt can help you build long-term wealth if you take debt on responsibly and don't get in over your head. And it's pretty near impossible to go through life without ever incurring debt. Most everyone wants to buy a house, for instance, and a car. My only debt is my mortgage, with a $68K balance, and i'll have that paid off by 2015, 7 years from now. I am an uber-saver so the last car i bought new, i paid for in cash. When i need to buy a new car in another few years, i would take advantage of a 0% financing deal if i saw one. Otherwise, i'd still pay cash.
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Wisdom begins in wonder.
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12-07-2008, 09:01 PM
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NONE! ZIP! ZERO!
Yaaaayyyyy!!!! Although I will be marrying some student loan debt. But he is sooo worth it. 
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12-09-2008, 08:32 AM
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$110k mortgage
$9k car loan $2k student loan Right now I'm torn between keeping my car payments accelerated or getting my EF back up to $15k, my happy number. Even though I think my job is safe, the current state of the economy makes me want to have more money in the bank. Right now I have only $10k saved, because Hurricane Ike did significant damage to my house and I had to dip in.
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12-09-2008, 07:36 PM
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$179k mortgage
$60k student loans $10k car loan $2k lowes card from when we remodeled kitchen but it is 0% and we have the $2k in an ING account earning interest until the 0% ends The only thing really stressing me is the student loans. The house we bought 3 years ago right after we got married and I am only 26 so I feel ok with that amount at this stage in our lives. At least we only have 1 car loan and no credit card debt.
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12-09-2008, 09:36 PM
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My Debt: $6600 in a car loan
Approximately 12,000 in student loans that I am currently not yet paying as I'm still in school. I am incurring a little more of this debt for one more semester. $5.00 in CC debt that will be payed off as soon as I get around to it. BTW, it's my only credit card and I only use it for emergencies like when I can't find my debit (happens quite often.) So I owe billions essentially.
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12-12-2008, 09:30 AM
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New poster -
In debt here also. Just started this week to really look at it closely. I have had the typical attitude that it will just go away, I'll pay it off with my tax refund, yadda yadda yadda. Currently at about: 5000 Unsecured debt ---1000 in collections 9000 College loans. ---All is unsubsidized or personal college loan *Big Sigh* Any grand ideas? marc0130
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12-12-2008, 10:05 AM
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__________________
Steve * Despite the high cost of living, it remains very popular. * Why should I pay for my daughter's education when she already knows everything? * There are no shortcuts to anywhere worth going.
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12-12-2008, 11:04 AM
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After that I will post what I have.
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12-13-2008, 04:10 PM
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Just the mortgage
and it's inching below 50K.
But we'll need a car again soon, so we're saving to pay cash for that.
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12-14-2008, 04:30 PM
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My teaching degree is not worth the paper it is written on in the state of MI (NO JOBS) but I am over it. Thank goodness my parents footed the bill for it and college was half the price in late 90's. lol literally almost. Hey they tried to help me out in life. God bless them.
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12-15-2008, 06:28 PM
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The solution would be to leave Michigan
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