Get out of debt brehs

[MoneyTron]

Why a new car? a 4-5 year old one would save thousands in depreciation wouldn't it?

New as in its it's new to me. Given the state of the used car market and this car's depreciation curve, I'm starting off with about $7K in equity and should stay there.

When it comes to cars, I always have an exit plan, but buying them as often as I do probably isn't smart. I don't really care because cars are my passion.

 

[jwonder]

I see brehs on here talking about student loans. Did any of ya'll got to schools like University of Phoenix, Keiser, Strayer University, etc? Man they got sued by the Government for making false promises of saying you'll get a job if you graduate from there.

Three years ago I got this email about Borrows Defense. I thought it was a scam. So I googled it and found out it was real. I filled out the application stating that I was promised a job and didn't get one. Then this past March I got an letter from the gov't saying my 50K loan was wiped clean.

I almost hurt myself doing a back flip.

 

[Peter Popoff]

Delete.

 

[Atlrocafella]

That Walmart CC is done , another $60 bucks going straight into the savings this month.

 

[phcitywarrior]

Thread needs to be bumped. How we looking?

 

[capblk]

Was able to completely pay off one card and phone earlier this year. Used bonus to get new tires, pay for insurance and get a new AC (old one died in Sept). I did treat myself to a Levono Legion Go and a pair of sneakers (paid in cash). The last few months of 2023 were rough. Feeling much more optimistic about being free from these cards soon.

 

[TheKongoEmpire]

Thread needs to be bumped. How we looking?

Equifax has me at 784.

 

[winb83]

About $11K in debt. $3K in credit card debt and $8K in car debt. That credit card debt is all current. My monthly spending goes on credit cards and I pay them off each month.

 

[DeuceZ]

Got around 4k in cc debt, the majority is 0% through 2025, score in upper 700s

 

[International Playa]

Went in to 9k cc debt. Bought a new house, spent a lot on renovations, new TVs, surround system etc

 

[Rick Fox at UNC]

Alright, I'm not going to lie. I have issues managing money and it needs to stop.

I've always live life on a whim and it's catching up to me.

 

[Digital Omen]

Finishing this year with 4 CCs $0 balance and 810 FICO
I used to pray for times like this

I had collections, overdraft fees, 580 FICO, charged off MBNA Master Card from Biden's Delaware...my shyt was all fukked up in my young & dumb 20s (free money! let's party and travel!) what else is new

In my 30s I got my shyt together. Made a deal with a collector, 20 on the dollar. Started with a $300 secured MC from Orchard Bank. I had to send them a money order and they changed my life. Would use it for gas, pay the whole balance. 3 turned to 5 to a g...Biden's MBNA gave me a 2k BestBuy MC.

This was years ago, like Juan Ep

Now in my 40s I pay the $695 Amex Plat fee cuz it's just prepaying my streaming, lounges, uber, and buncha other shyt. I travel often for biz and personal so it's worth it to me.

There's no magical secret. What got me out of the hole and took years was paying every bill on time. That's it. That's the secret.

 

[Clark Wayne]

Don’t even wanna go into detail about how much debt I racked up.

Fortunately I came into a decent amount of money so this shyt is going down with the quickness

 

[phcitywarrior]

Bump.

How brehs and brehettes in here looking?

 

[Rick Fox at UNC]

Alright, I'm not going to lie. I have issues managing money and it needs to stop.

I've always live life on a whim and it's catching up to me.

Update. As of February '25, completely debt free.

Everything paid off or settled.