Get out of debt brehs

JBone4eva

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I love this thread brehs, it gets me motivated to continue to get financially savvy. :blessed:

in 2018 I started trying to attack my debt with a concerted effort. This year I'm focussed on stacking funds and building my credit score. I crushed all my credit cards, and all I have left is my car note and substantial student loans. I'm not stressing the car note, but I'm indecisive how and when I want to attack the student loans. I basically have a big loan (300k+ :sadcam: ), a medium loan (65k :whew: ), and I paid off my small 6k loan in 2019. I started a new job at a non-profit hospital in 2018 and got on board with the loan forgiveness program so that if everything goes as planned, if I work there for 10 years and make qualifying payments they'll eat the remainder of my big loan :noah: ). However I'm indecisive on whether or not I want to work to crush the medium loan now or potentially invest in real estate first (a half financial/personal decision to buy a family house to rent out). I've saved about 45k and I should be able to reach 65k by the winter, I want to be close to a decision by then. Only thing that makes me want to try for the house sooner instead of waiting it out is because I envision the property in the area to increase soon because they just built a massive outlet near the place. What would ya'll do in a similar scenario? :lupe:
 

OfTheCross

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Keeping my overhead low, and my understand high
Brehs I'm bout to pay off my car and not have any debt except for my mortgage:wow:....the sweet thing is that I dont even pay my mortgage. My tenant does. I live in a duplex.
I got 2K left to pay and I'll be in the same boat as you.

:blessed:


I got 2 tenants that pay the mortgage plus the light bill.

We blessed out here, breh :wow:


Wife tryna buy an income property now too :wow:
 

GoFlipAPack

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I got 2K left to pay and I'll be in the same boat as you.

:blessed:


I got 2 tenants that pay the mortgage plus the light bill.

We blessed out here, breh :wow:


Wife tryna buy an income property now too :wow:
:blessed::cheers:....good shut breh breh
 

DeuceZ

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How are brehs dealing with the quarantine and their debt goals :unimpressed: I'm working from home so still bringing income. Wifey works for a school that's been closed :francis:

Gonna be an intersting couple months
 

Bboystyle

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How are brehs dealing with the quarantine and their debt goals :unimpressed: I'm working from home so still bringing income. Wifey works for a school that's been closed :francis:

Gonna be an intersting couple months


Its a great way for me to say fukk my car note for a month or two. Even though i work an essential job :lolbron:
 

Atlrocafella

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How are brehs dealing with the quarantine and their debt goals :unimpressed: I'm working from home so still bringing income. Wifey works for a school that's been closed :francis:

Gonna be an intersting couple months
Working remotely for the time being so my goals to reduce debt remain intact for now. Since the feds waived student loan payments And interest until September, I put my shyt in forbearance and will use the extra $175 I was paying and adding it to my biggest CC debt to bring that balance lower and hopefully reduce monthly payments significantly before the forbearance period ends.
 

Rawtid

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How are brehs dealing with the quarantine and their debt goals :unimpressed: I'm working from home so still bringing income. Wifey works for a school that's been closed :francis:

Gonna be an intersting couple months
Not working, but I'm straight financially for a couple of months. Paid my mortgage up until June. I finished my Masters Program nearly a month ago, lol then the world went to hell, so I chilled on the search for now, but I'm picking it back up next week. I went through a similar scenario a few years back and ended up filing chapter 13 bankruptcy. That's actually the only reason I'm able to chill a little, that covers all debt payments and my other bills are minimal.
 
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