What is your story?

[debtfreecb]

How many of my peers on this network have paid off significant amounts of debt? Can you briefly tell me your story. My husband and I are trying to pay off $68,000 (credit card and home equity loans). I need some positive reinforcement!

In the last 5 months we have reduced our debt by $6000.00

[CoryWM]

The same topic exsists 5 topics down:

http://www.savingadvice.com/forums/personal-finance/29678-your-debt-reduction-story.html

[disneysteve]

How many of my peers on this network have paid off significant amounts of debt? Can you briefly tell me your story. My husband and I are trying to pay off $68,000 (credit card and home equity loans). I need some positive reinforcement!

In the last 5 months we have reduced our debt by $6000.00

Sounds like you're doing a good job - $6,000 in 5 months will be $14,400 in a year. At that rate, you'll be debt free in 4-1/2 years!

I hope you're focusing on the highest interest debt first. Keep it up.

[debtfreecb]

Thanks. It is absolutely intimidating to think about paying $60,000 in debt off. Sometimes I can't believe we let ourselves get here. I just took advantage of a 0% interest rate Discover card for 12 mos so I can throw more money to principal instead of interest. I had one credit card in which I was literally 1 day late with a payment the credit card company jacked my rate from 7.7% to 22.24%. I was crushed and they refused to reconsider. These card companies are awful

[JanH]

What gets me is that after they raise your rate to the roof, they call to ask if you want to use a special balance transfer rate. Then they get you to pay on that while the higher rate just sits there adding tons to your balance. I ignore the offers because if they aren't going to leave your rate alone and not drive you crazy with that big one or reduce it when you ask, then they don't need any more of my business.