Get out of debt brehs

[1thouwow]

it seems like a lot of these college educated folks are struggling
i hope that doesn't happen to me

 

[Panther]

Bump

Working on paying my car off by this time next year. If i continue to make the regular monthly payments i wont be finished until 2018

After that its those cursed student loans

 

[Liu Kang]

Good thread. Added to the Info Center sticky.

 

[FreshFromATL]

Student loans is a debt I'll have until I die. Like a poster said above, that's my reparations dammit!!! I'm paying the minimum forever.

 

[FreshFromATL]

no that wont start until after i graduate and I may join the services to take advantage of the loan repayment. My debt stems from terrible spending habits and being a fukking idiot. i have credit card debt, hospital debt (400), unpaid bills (300), unpaid tuition (1600). i'm screwed because bad decision making. sometimes i just laugh at myself in wonder how i could have been so dumb and irresponsible.I feel like I'm drowning deeper and deeper. i need at least 1 other source of income to get out of this mess.

nikka that ain't no debt . You can knock that out with 1 or 2 checks

 

[Amestafuu (Emeritus)]

My debt is $564.78 of a late credit card bill school is for suckas...

I took a student loan only 1 year. Paid the rest. Max debt is 7k

 

[Jahbarri]

Trust me brehs

I have always been fascinated, not necessarily but definitely intrigued with finances and quality of living since a young age

Maybe being adopted by cacs as a toddler during mothers incarceration

Or maybe even due to being only boy, 3 sisters when my mom was free she would spoil me despite wanting very little..

But to stay on topic I'm currently in debt 2700(Pawned my gold to the jews)
1600 Debt credit cards
7000-9k to a wealthy friend who loaned
1k creditors

Which is obsurd but I'm involved with bigbusiness and can get debt free with a good week easily..

It just sucks because it's been rough and depressing as of late..
I never met my father,never seen a photo


I was forced to live by myself @ 18 years old. I'm the type who has the craziest. Life but would never know unless revealed due to my optimistic outlook..
I'm wise beyond my years due to my upbringing and life lessons..
Although I don't come from an asset family..ive been cash rich since a teenager due to my renaissance hustlers ambition..
@18y/o in 2011 I had 9k cash no debt
@19y/o in 2012 I had 22k cash no debt
@20y/o in 2013 I had 38k cash no debt
@21y/o in 2014 I dropped to. Under 10
^above figures are my peaks
Went on vacation for amonth in 2014
been borderline broke since

2015 I haven't been this broke in mylife, I kind-of know the average man's pain...although I'm a simple and average man I never lived a simple or average life... that being said I lost all my funds due to my unrealistically not being concious of my role. I always made so much money so I never thought I'd hit the ground

Enjoyed all the bytches,i was an exotic rental car connoisseur, trip taking,champagne sspillin,paying rent in 3-6 months advance type of dude..
One thing I could say is always took care of my priorities. But nevertheless i just got a brand. new luxury condo I'm renting..
So it's only a matter of time before I get back on my feet..cant put a price of peice of mindbrehs

 

[hashmander]

those of you with student loan debt, is it old pre-obama debt? i don't have any student loans, but my cousin has one that got activated at the end of 2013 (6 months after graduation) and she enrolled in pay as you earn and for the first year she didn't have to pay anything because her 2012 tax return was pretty much nothing, so she paid $0 all of 2014. and her 2013 tax return only had like half a year of income so she was like $15k for the year, another $0 a month so far this year. her 2014 tax return will be a little healthier and have to make payments of around $85 a month, which is nothing for 40k in debt. this won't negatively impact her getting a car or a home (it helps creditworthiness). so for the first 3 years she will have paid a total of $1020 back and have 17 years to go because the balance gets written off after 20 years and what's written off gets treated as income, but that's shrug worthy.

 

[Techniec]

Y'all need to find u a good woman

That dual income lifestyle

 

[shutterguy]

One thing I will add to this thread is to never, never, ever get involved with online payday loans. You sign them documents and receive the money in your account next day or whatever, thinking you will just pay them on payday. Thoughts of just doing the minimum or paying the refinance/rollover fee while nothing going to the principal. Before you know it, the $300 loan you took out weeks ago, you have paid damn near $300 in refinance fees and you still owe $300 + 800% interest. I messed around with this viscous lifestyle for a few years, wasted soo much paycheck cash on it too. Once I was done with that mess, I said I would never go back unless it was an emergency that I couldn't cover with money in my bank account.

I remember reading horror stories of people having 8 payday loans out, fees putting they paycheck in a chokehold cuz they can't pay their rent, car note, and utilities. Debt collectors for these companies would call and threaten jail time, wage garnishment, arrest at your job and worse. Found out 95% of those payday loan companies are operating illegally, not licensed to do business in the state you live in, rollovers were illegal and you were only obligated to payback the principal. Them companies weren't trying to hear that, no fukks given about state laws, and the continuously draining of your bank account/paycheck. Debt websites helped, found out what lenders were legal, and gave you draft letters to send to get them to settle.

 

[newarkhiphop]

$8,000 paid off in 9 months brehs

 

[tofuspeedstar]

Geez, I felt bad graduating from Undergrad with $8,xxx in student loans.

Last year had to purchase a car because the A/C in my Spec V blew. I thought I was going to be about that life and get an STi...at the last minute I was about to sign all the loan work and backed out. Bought a 2010 Honda Fit Sport instead.

Probably one of the best decisions I made. Costs $19 for a full tank of gas. It's slow as shyt and I'm not impressing anyone.. but I have money in the bank and only a $12,000 loan I can pay off in three years versus a $32,000 loan I'd have to pay off in five.

So I guess at 25 being a bit over $20,000 in the hole isn't all that bad.

$8,640 student loan
$12,220 car loan.

All together the payments are about $383 a month..add in $86 for insurance.

*shrugs*

 

[theworldismine13]

those of you with student loan debt, is it old pre-obama debt? i don't have any student loans, but my cousin has one that got activated at the end of 2013 (6 months after graduation) and she enrolled in pay as you earn and for the first year she didn't have to pay anything because her 2012 tax return was pretty much nothing, so she paid $0 all of 2014. and her 2013 tax return only had like half a year of income so she was like $15k for the year, another $0 a month so far this year. her 2014 tax return will be a little healthier and have to make payments of around $85 a month, which is nothing for 40k in debt. this won't negatively impact her getting a car or a home (it helps creditworthiness). so for the first 3 years she will have paid a total of $1020 back and have 17 years to go because the balance gets written off after 20 years and what's written off gets treated as income, but that's shrug worthy.

yeah basically, i dont know why people are trying to create a horror story around student loans, and its not even abut pre or post obama

the feds will consolidate all your loans and all you have to do is sign up for an income dependent plan, and thats the end of the story, yeah you will get stuck with a payment for the next 20 years, but so what?

 

[DEAD7]

Ya'll better be checkin for Warren.

She wants to forgive all student debt, and make education free...

 

[Jesus]

By winter I'll have my 25k in student loans paid off in 13 months.


Save a large sum of money in your savings account while you're loans are accruing more interest and not bite the bullet brehs.