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How much debt do you have?

View Poll Results: How much BAD debt (credit cards) do you have?
$0-$5,000 9 60.00%
$5,001-$10,000 0 0%
$10,001-$15,000 3 20.00%
$15,001-$20,000 1 6.67%
$20,001-$25,000 2 13.33%
$25,000+ 0 0%
Voters: 15. You may not vote on this poll

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Old 08-31-04, 05:05 PM
Dopey406's Avatar
is loving her husband and children!
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Question How much debt do you have?

How much debt do you have? I recently read that the average American family has around $8,000 credit card debt. We have much more than that and it got me wondering how much others have.

We are blessed that neither of us have student loans (good debt) from college. Both of our parents paid for college (I earned a 50% scholarship every year--otherwise I would have not my degree) so we have no loans to pay back. We have a house mortgage and one car payment. The rest is credit card (bad) debt.
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Old 09-01-04, 03:12 PM
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Luckily we have $0 credit card debt and pay everything off from our savings (and then replace that $). DP went to NYU for her masters degree and unfortunately we have close to $100K in student loan debt. Fortunately, we are about to knock that in half because one of the lenders is willign to take a $19K lump sum instead of $65K over the next 30 years. We're just going to pay them off and get them off our back.

DP and I have both been in credit card debt at some point in our lives and we have both vowed to never EVER do that again. So, we penny pinch and save every single $1 so when we need something we pay for it in cash.

I suggest listening to Suze Orman.
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Old 09-01-04, 07:22 PM
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No mortgage (we rent), no student loans, 2 car payments, 2 credit cards left and some medical bills.

Once those credit cards are paid off (end of this year hopefully), NO MORE CARDS for us, except our bank check/atm card!
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Old 09-01-04, 09:13 PM
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We no credit card debt. I don't even have one. DH does but rarely uses it and we pay it off right away. We do have a house payment, one car payment, and both of us have student loans, but it's not too bad. It could be much worse.
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Old 09-01-04, 09:25 PM
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no credit card debt here either!
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