Paying off your debt can mean tons of freedom from stress and just not having a life in general. But how do you pay off large amounts of debt?
http://finance.yahoo.com/news/First-Person-How-I-Eliminated-ac-2349389766.html?x=0
Here is a link to how one couple paid off $46,000 in 10 months. While it's a good story with good info...some people just aren't motivated enough to make the commitment.
The only debt that I have going right now is my cell phone bill which is still to much and my insurance for my truck. Other than that, I pay cash for everything. Something I learned about debt along time ago was something I never want to go through again. Although I was making decent money at the time, it wasn't enough after I screwed up my back and was out of work for a year and a half. By the time I was able to go back to work I was $40,000 + in debt and my new pay was $1.00 an hour less than I was making in the past. I managed to get my personal loans paid but I had to tell the credit card companies to kiss my ass because the insurance that I paid for that was supposed to protect my credit in case of a work related injury was not honored. And because I was to stupid to swallow my pride and just pay the damn cards off, it ended up ruining my credit. I'm still trying to repair my credit 12 years later. The most important thing I learned was to stay away from the lying, cheating, stealing credit card companies and deal only with bank loans. Only credit I would apply for would be to buy items that would pay for them selves and not buy the play toys like I had in the past. This lesson turned out to be beneficial when I bought property in Alaska and turned around and made a $45,000 profit just before the housing bust in 2008. I currently get $6,000 a year return on the property investment and the new owner seems to be happy with the purchase. Soon enough all the bad marks on my credit report should be wiped clean and it's being done without filing for bankruptcy. Turn off the damn T.V., Pay off your debts and start living a life that is yours and not be under someone else's thumb.
The only debt that I have going right now is my cell phone bill which is still to much and my insurance for my truck. Other than that, I pay cash for everything. Something I learned about debt along time ago was something I never want to go through again. Although I was making decent money at the time, it wasn't enough after I screwed up my back and was out of work for a year and a half. By the time I was able to go back to work I was $40,000 + in debt and my new pay was $1.00 an hour less than I was making in the past. I managed to get my personal loans paid but I had to tell the credit card companies to kiss my ass because the insurance that I paid for that was supposed to protect my credit in case of a work related injury was not honored. And because I was to stupid to swallow my pride and just pay the damn cards off, it ended up ruining my credit. I'm still trying to repair my credit 12 years later. The most important thing I learned was to stay away from the lying, cheating, stealing credit card companies and deal only with bank loans. Only credit I would apply for would be to buy items that would pay for them selves and not buy the play toys like I had in the past. This lesson turned out to be beneficial when I bought property in Alaska and turned around and made a $45,000 profit just before the housing bust in 2008. I currently get $6,000 a year return on the property investment and the new owner seems to be happy with the purchase. Soon enough all the bad marks on my credit report should be wiped clean and it's being done without filing for bankruptcy. Turn off the damn T.V., Pay off your debts and start living a life that is yours and not be under someone else's thumb.
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