I was wondering. How much debt do you currently owe? With this financial crisis, how are you paying it off? I was in debt last year, credit card of $2500 ($500 interest). I later had to deal with debt collectors. So we negotiated and I ended up paying for what I had used which was $2000. With the same bank, I overdraw my account $152, again, debt collects a different one, but this time was given a 50% discount, so I only paid $76. I hate debt! I have another one of probably $300 now for a tram fine from a year ago. I need to pay that off. AaaaaaaHHhhhhhhh, because the penalties.
I slashed all our debt the other week with money in our redraw facility - so now its just our mortgage to pay every week. Which is GREAT cos because of the interest rate going down - we now only need to pay $353 a week!!!! woohoo!! (We used to pay $500 a week - just on the mortgage - not to mention the $12,000 we owed on the credit cards and our car loan!)
Gotta remind DH to ring the bank today to get our repayment down to that.. heehee
we're not in a position to buy a house yet (although, with the rent we're paying.. we probably could be!) and i refuse to get any credit cards or anything. dp always wants to look at those car finance places to get a car, but we have two decent working cars.. so i dont see the point.
i have about 4 fines that i have combined, and i pay $20 a month, each time i get one, i add it to the mix (that sounds bad, but im talking 4 fines over about 4 years! one parking fine, and 2 speeding fines, and one fine for a car i sold that was never transferred out of my name, and there is nothing i can do about it.. grr)
Year before last I finally paid off my car loan and then last year I paid off my credit card FINALLY. I have since cancelled my credit card and only live within my means now. I also don't have mobile bills and opted for a pre paid account after getting into serious debt with monster bills.
DH has a credit card with a $500 limit and he paid his car off end of last year, so now we are both debt free. We do rent but will eventually inherit the house we rent so we don't have a morgage.
Your debt- Where Are You With It?
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