If you used to have debt and now have no debt or alot less debt, how did you do it and how long did it take?

Question

I think it is good for people to know that even if they are deep in debt they can get out of debt if they work hard at it, and know that others have and are doing it. Once upon a time, our family had 30K in credit card debt and now we are down to 8K. We plan to have it all paid off in 18 months. How about you?

Answer 1

1. Start reading and listening to Dave Ramsey
2. Draw a line in the sand not to borrow any more money
3. Set down with your honey and develop a budget
4. pay off your smallest debts first and snowball up
5. Save for you emergencies and for your cars
6. know that if you live like no one else now then later you can
live like no one else
all I have left is a student loan and my house. Both will be paid off in 15 years.

Answer 2

If you are paying off only the minimum of your credit card or any other debt, sit down and think about how you are getting rid of the credit card debt.


Start by making a list of all your expenses that should contain all the expenses, both major and minor. Find out the unnecessary expenses and keep a list of all of your expenses.
Now repay the balance with the steepest interest rate first. Then go to the next highest and then next. Repeat this process till all your credit card debt is repaid.


In case of financial difficulties, request your ...

http://www.freewebs.com/getanswer/TipstoReduceCreditCardDebt.html

Answer 3

Well we had 25,000 in credit card debt a year ago, but have been working really hard at getting it down, and we're now down to 18,000.
I know, 18,000 is still HIGH, but it's lower than 25,000 that's for sure!
It'll probably take two-three more years, but we are committed to never using a credit card ever again for the rest of our lives. We're still in our 20s, so I'm looking forward to a debt free 30s!

Answer 4

Chapter 7.

Answer 5

None yet.....hope to not.