Estimated to be out of debt in...

iVillage Member
Registered: 07-05-2006
Estimated to be out of debt in...
9
Thu, 03-26-2009 - 10:26am

August 2009. After some simple calculations that may or may not prove to be perfectly accurate, we could be out of debt in August. This is really hard to believe. We are currently working on our last settlement offer with Discover. They want 3500 and we are almost in litigation with them. I'm hoping they take this deal. We currently have $3000 to give them and then we'd give them the extra $500 by the end of next month. That may be a little hard to come up with, but we'll do what we have to do! After that, we'll only owe $1705.68! If we follow the current repayment plans we have set up, then August or September will be our estimated date of NO DEBT! I'm pretty sure though, that with some hard work we could knock that debt out in 2-3 more months instead of 4-5. I am honestly thinking about having an out of debt party. This has been such a long hard road. How can we celebrate finally being out of debt? Most of our friends know that we have struggled with debt, so if we had a big party, I'm sure they'd celebrate right along with us!

When will you be out of debt and do you think a party is in order?

iVillage Member
Registered: 08-21-2006
Thu, 03-26-2009 - 10:40am

My parents had

iVillage Member
Registered: 08-04-2008
Thu, 03-26-2009 - 10:56am

When will you be out of debt and do you think a party is in order?


Me, CC debt sometime in 2011, DH should be about the same.




iVillage Member
Registered: 03-21-2009
Thu, 03-26-2009 - 12:12pm
I am embarassed to say it but we will be cc debt free in January 2014.
iVillage Member
Registered: 07-05-2006
Thu, 03-26-2009 - 12:37pm
And when I started this whole thing it seemed impossible as well. We were bringing in 500 dollars a week and our minimum payments on our credit cards were equaling about a thousand dollars a month. I thought life was over! I didn't know what to do or how we had gotten here or who to turn to. It was an awful mess! We officially cut up the credit cards and decided to deal with this about 3 years ago. It's been a long road and it's been pretty horrible! There were so many times I felt lost in the tunnel of despair! No light shining in at all. And yet, here we are...months away from getting out of this hole! I am thrilled! I have learned so much on this journey and there are so many things that I wouldn't take back because in all actuality, my life is better now because I went through this. We were pushed to our limits and we have come out better people, smarter people and we doubled our income in response to this hardship. They say that everything happens for a reason. Keep hanging on and take things one day at a time. You will get there and maybe it will be sooner than you think.

iVillage Member
Registered: 05-20-2005
Thu, 03-26-2009 - 12:55pm

Congrats, that's awesome!


Since I have $100k+ in student loans I probably will never be out of debt (well maybe when I'm in my 70s.......lol).

Wedding
iVillage Member
Registered: 03-27-2005
Thu, 03-26-2009 - 1:05pm

I'd have a party.

iVillage Member
Registered: 11-14-2008
Fri, 03-27-2009 - 11:58am

I like to say I would throw a party, but in all honesty, it will be small. My dh and girlfriend. I love to BBQ and that will probably be it. Not likely until May 2010, but it could be sooner. LOL, it could also be later for all I know. I am just excited about the next step and for me that is going to under 10,000!



iVillage Member
Registered: 06-03-2006
Fri, 03-27-2009 - 4:42pm
I'm hoping to be out of debt