Comments on: Debt Payoff Champions

By: Justin

Justin — Thu, 13 Dec 2007 02:17:42 +0000

That’s amazing.. I’ve been talking with a lot of people that are facing problems with their ARM resets now and are facing much higher home loan payments each month. Unfortunately, sometimes it becomes literally impossible for them to get out of debt without outside help. I’m always encouraged by these stories though – getting out of that much debt is definitely impressive!

By: cellie

cellie — Wed, 12 Dec 2007 18:26:52 +0000

When I was in college it was too hard to reduce expenses, but what I did was to read everything and do what I could until I could do better. When I did start working, since I had been reading so much, I knew exactly what to do to start digging out of the hole – and like you said debt became a priority.

By: Ryan S.

Ryan S. — Wed, 12 Dec 2007 07:12:19 +0000

Wow, that’s a wild rate of debt payoff. That just totally wows me.

By: Rob in Madrid

Rob in Madrid — Wed, 12 Dec 2007 06:18:57 +0000

I’m always amazed at people who are able to do that, lowering your expenses is a tough challenge at the best of times. The problem is the Gap as Trent calls it, the difference between you income and expenses. the smaller it is the harder it is to pay off debt. My sister in law is struggling with this, inspite of working almost 70 hour weeks shes really struggling with trying to get the debts paid down. I’m actually not sure she’ll be able to do it, I figure in a year or two they will be forced by circumstances to downsize.

Biggest thing I’d like to know is how some of this people were able to reduce their expenses so much. As JW and others mentioned when you have kids, house cars medical expenses it can be really hard to cut costs.

By: Joseph Sangl

Joseph Sangl — Wed, 12 Dec 2007 02:55:23 +0000

My wife and I have been attacking the home mortgage! With God’s help we will have the mortgage paid off in less than 3 years!!!

It CAN be done!

By: JW Thornhill

JW Thornhill — Tue, 11 Dec 2007 20:58:58 +0000

That is just the inspiration I needed! Thanks

By: Debt Help

Debt Help — Tue, 11 Dec 2007 17:26:19 +0000

Paying debt and making debt repayment as the priority is usually easier said than done.. Unfortunately, for most of us, we cannot prioritize paying off the debts because of family expenses that cannot be lowered no matter what… Especially with today’s economy, the salaries are low but the prices are at their all time high

By: Fellowes

Fellowes — Tue, 11 Dec 2007 14:32:43 +0000

I have absolutely followed the advice regarding the lowering of expenses. I finally turned in my leased car–albeit early–and am now living a car-free life. I will probably save a net of $500 per momth including gas, car payment and insurance net of any Flexcar or rental car usage. It is truly amazing how much of a ‘money pit’ my car truly was.