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What's your biggest debt?

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    What's your biggest debt?

    What is currently your biggest debt, not counting your mortgage which would be obvious? How long do you think it will take you to pay off?

    I have a car loan for $12k that I'm still kicking myself for getting, but I hope it will be paid off by early next year.

    If you are currently debt free, what was your biggest debt at one time? How long did it take for you to get rid of it?

    #2
    I'm no longer in debt but my biggest debt was about 20k in student loans from my Master's program. It took me about 16 months to pay it off.

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      #3
      Last month I was thrilled to pay off the last of my $19k car loan (paid off in 1.5 yrs). With that gone, my only debt at the present time is my mortgage ($120k). However, I'm getting married in May, and my fiancée has about $12k in student loans & about $10k in a car loan (plus a $90k mortgage). We both have decent-paying jobs, so we're planning to pay off all of her non-mortgage debt VERY quickly (I'm thinking within a year or so).
      "Praestantia per minutus" ... "Acta non verba"

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        #4
        Never had any non-mortgage debt.

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          #5
          Other than mortgages, I've had no debt for a while -- until last fall. Even though I did have the cash, I decided to put a $9000 roofing job on a Discover credit card so I could get 1.5% cash back on the transaction. Then I had a bout of "separation anxiety" with the $9k, so I decided to roll the debt over to a 0% interest card and pay it out of future cash flow in 12 monthly installments. I'll be done with that this fall.

          I could still pay it off anytime, but what the heck...
          Retired To Win
          I blog weekly on frugal living, personal finance & earlier retirement at:
          retiredtowin.com
          making the most of my time and my money

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            #6
            We have a mortgage we plan and are on track to paying off early.

            We bought a house and got 0% for 60 month on a furniture purchase. We have about $4875 left on the loan. We are paying it off early. We will probably pay it off in about 4 years at $100 a month. Might use our income tax one year to pay it off.
            ~ Eagle

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              #7
              I am debt free except for my mortgage as of last month. Here are the loans that I had up to that point:

              24K car loan 1: 2004-2009
              20K undergrad student loans(3%): 2004 - 2013
              20K graduate student loans(6.8%): 2009 - 2012
              17K car loan 2 (2.99%): 2011 - 2014 (paid off in 2.5 years). i also had a down payment of 9K

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                #8
                I've got $25k in debt spread across 2 vehicles right now. The goal is to get both of those paid off early.

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                  #9
                  I just recently became debt free, but before that I was paying off about $31k in student loans (took me 6 years after graduation).

                  I'm at a point now where the only future debt I ever intend to have is a mortgage and maybe a car loan.

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                    #10
                    Never had any debt, just positive numbers constantly. And at the rate my affiliate marketing is going, I should never have any debt. Let's hope it stays that way.

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                      #11
                      I have been debating whether to post this or not as it is quite embarrassing. But here goes:



                      That's what stupid looks like.

                      Never again.

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                        #12
                        Unfortunately, it is student loans. I do not know how bad these got, but at the end of the day I ended up with more than 30.000 in the hole. That means that I will be paying off for a long time. Even worse was the fact that after graduation, I did not find a job right away, but the creditors decided that I should start making payments anyway. Glad to have it back under control though.

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                          #13
                          Student loans 18K worth. Hoping to start aggressively pay those down after paying off the car.

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                            #14
                            My biggest debt is my car payment but I only have $3,700 left but I am trying to pay it off in July which would be paying off my car 1 year early

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                              #15
                              My truck - about $6,700 left of the original $12,750.

                              Only other debt is mortgage - about $48K left on that.

                              Three and a half years ago I had a boat load of CC debt. That's all paid off now.

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