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Interesting milestone for me today

Kadarin

Kadarin

Lifer
Once upon a time I was young and stupid (I am no longer young, lol), and had good credit without matching good income. Over the years, due to both expensive hobbies and poor choice in girlfriends, I lived outside my means and managed to rack up about $35,000 in credit card debt. Yikes... It is most definitely not a comfortable feeling having that hanging over your head.

As of today, right now, I have successfully paid this off, and the only debt I currently have is my car.

It is a VERY good feeling to finally be able to look toward the future and think about things like investments and buying a house and whatnot.

🙂
 
Originally posted by: Astaroth33
Once upon a time I was young and stupid (I am no longer young, lol), and had good credit without matching good income. Over the years, due to both expensive hobbies and poor choice in girlfriends, I lived outside my means and managed to rack up about $35,000 in credit card debt. Yikes... It is most definitely not a comfortable feeling having that hanging over your head.

As of today, right now, I have successfully paid this off, and the only debt I currently have is my car.

It is a VERY good feeling to finally be able to look toward the future and think about things like investments and buying a house and whatnot.

🙂
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Wow, congratulations. That is an enormous setback of a debt for an average person, and I'm sure you value your money more now 😉 All I have to say is, cheers, because you must feel so much better, I know I sure as hell would.
 
GJ, that's a sizable hole to have pulled yourself out of. What's the typical APR on CC balances - 20%? That's $7k/year in interest alone.
 
Originally posted by: Astaroth33
Once upon a time I was young and stupid (I am no longer young, lol), and had good credit without matching good income. Over the years, due to both expensive hobbies and poor choice in girlfriends, I lived outside my means and managed to rack up about $35,000 in credit card debt. Yikes... It is most definitely not a comfortable feeling having that hanging over your head.

As of today, right now, I have successfully paid this off, and the only debt I currently have is my car.

It is a VERY good feeling to finally be able to look toward the future and think about things like investments and buying a house and whatnot.

🙂
Click to expand...

This is good, congratulations. You could celebrate (within your means 😀 )
 
Originally posted by: flyfish
I love hearing about people taking responsibility and control!

:thumbsup:
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Thanks! Responsibility and control has been huge for me over the past few years. I've had some lucky breaks and some unlucky ones, but in the main have continued to hang in there. I've bought some reasonably expensive things (i.e. headers + Corsa exhaust for my car), but these were things that I could afford without taking a hit in my payment budget.

In general, I've been paying about $1500 to $2000 per month toward the credit cards. This is money that can now go into savings, and eventually into investments.
 
Originally posted by: diegoalcatraz
GJ, that's a sizable hole to have pulled yourself out of. What's the typical APR on CC balances - 20%? That's $7k/year in interest alone.
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Naw. I have sizeable debt too, but never pay more thany 7%, usually 0% on transfers (every card i have now). I wish i could be more like Astaroth. Congrats.
 
:wine:

Congrats. I bet you feel so light and free. You should celebrate. It's not easy to do what you did.
 
Gah, i'm gonna be in this boat soon after i rake up 20,000$ in college loans. Its kinda amazing to me that by the end of next year I'm supposed to start "real life" with 20,000$ in debt, and no assets except this laptop, a bunch of clothes, and a college diploma.
 
Originally posted by: BrownTown
Gah, i'm gonna be in this boat soon after i rake up 20,000$ in college loans. Its kinda amazing to me that by the end of next year I'm supposed to start "real life" with 20,000$ in debt, and no assets except this laptop, a bunch of clothes, and a college diploma.
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You're in no way like Astaroth. Your loans don't carry anything close to a CC interest rate. Pay the minimum monthly payment until you're established. You'll be fine.
 
Originally posted by: iRONic
Way to go! Credit card companies hate your kind. That's awesome.
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i wouldn't say that. i'm sure he payed a hefty amount in interest over the time he payed this off. on the other hand, some people just declare bankrupcy
 
Originally posted by: slayer202
Originally posted by: iRONic
Way to go! Credit card companies hate your kind. That's awesome.
Click to expand...

i wouldn't say that. i'm sure he payed a hefty amount in interest over the time he payed this off. on the other hand, some people just declare bankrupcy
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I stand by my post. His monthly $1500-2000 payments kept substantial profit out of the CC companies coffers. Bad for them, good for him.
 
Originally posted by: slayer202
Originally posted by: iRONic
Way to go! Credit card companies hate your kind. That's awesome.
Click to expand...

i wouldn't say that. i'm sure he payed a hefty amount in interest over the time he payed this off. on the other hand, some people just declare bankrupcy
Click to expand...

Correct. At one point I had considered, and was going to file for bankruptcy, but I chose not to as a matter of dignity.

And yes, I payed plenty of interest, so the CC companies love me... :/
 
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