What's your biggest debt?

[EmzieAtInfinity]

A $3 monthly payment for a debit card. That's all.

[scfr]

No debt. In the past, biggest debt was the mortgage.

[Ima saver]

I still owe about $27,000 on a lot that I bought two years ago at auction for $49,000. The lot is lakeview with lake access and a boat dock. I plan on paying it for within the next two weeks, then I will be debt free.

[MoneyTips4U]

I had some student loan debt, but I was fortunate to be able to get that paid off a couple of months ago. Definitely takes a load off of your back when you have finished paying off your debt.

[Eagle]

From this source as of March 2014...

U.S. household consumer debt profile:
Average credit card debt: $15,252
Average mortgage debt: $152,209
Average student loan debt: $32,986

Cut expenses, get a 2nd job, get a better job, get on a budget, track your expenses, save money for an emergency fund, knock out your debt (using debt snowball {lowest balance first} or avalanche method {highest interest}), and change your family tree! You can do it!

[feh]

No debt for about 10 years now. Biggest debt had been mortgage.

[roxymoxie14]

Thank you education...

Student loans. But dang it, having my Bachelor's degree it worth it.

[rob0711]

Student Loan debt was @ $11,000. Was able to pay that off in 9 months. Currently no other debt including mortgage.

[Singuy]

My mortgage, started at 300k
My wive's student loans, started at 169k

[AggieLife]

Student loan debt is a tough topic. I know Dave Ramsey is against it. At the same time, education is an investment and almost always has higher returns over the years.

Student loan within a reasonable amount I would think. If you're average salary is 60k after school, then 100k in student loans is not good.

[Singuy]

Student loan debt is a tough topic. I know Dave Ramsey is against it. At the same time, education is an investment and almost always has higher returns over the years.

Student loan within a reasonable amount I would think. If you're average salary is 60k after school, then 100k in student loans is not good.

Yes her student loan is stupid high, but sometimes there are no other choices. She was not lucky enough to have parents who payed most of her tuition and living expenses.

But that's okay, her take home is around 140k(after taxes) and she had paid 120k off her student loans already after just 1.5 years out of school(so that's about 140k toward student debt if you add on the interest she paid as well). Currently she has 44k left Schedule pay off is around this August!

[corawhite07]

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?

Did you pay your car loan properly? If yes then you have own the right tract to be debt free in the future.

[LivingAlmostLarge]

student loans of course not counting the mortgage. Our mortgage at the high was $460k. Student loans $50k from graduate and undergraduate school. Gone within 6 months of finishing. Now if we can help our kiddos.

[Randomsaver]

From this source as of March 2014...

U.S. household consumer debt profile:
Average credit card debt: $15,252
Average mortgage debt: $152,209
Average student loan debt: $32,986

That adds up to an average $200K debt for an American and oh my, I'm worse at $205K. I promise to be back here in August and celebrate my being an Average American!

[Randomsaver]

Looks like I'm the current Debt Champion at $205,000!