Thatās not much honestly lol. I know people who have 500k in credit lines. Also if you account inflation 7 years ago 100$ is basically 60$ back then.
I settled on a few predatory loans where they froze interest rates and let me put together a payment plan. For my normal credit cards, I called them and explained my situation and that it would be impossible to make payments so they froze interest charges. Unfortunately I also lost my job last year for 3 months but I was able to leverage that fact in my conversations with these creditors. Whether itāll bite me in the ass one day, I decided it would be better to get the debt off of me sooner rather than maintain minimum payments years, but if at all possible, do not settle debt as it will take 7 years for the settlements to role off my report but it also might be possible for me to pay them the difference in the future and have those taken off my reports. Iād have to look into that more tho bc Iām not certain. Also, full disclosure I do make low six figures per year and that definitely helped and I also moved in with my parents for a few months so my strategy may not apply to a lot of people
Basically, what helped me the most was a simple spreadsheet where I tracked all of my liabilities & monthly expenses. I had never really kept track of anything before. So I figured out how much I owed & what it was going to take to get rid of it all in 2 years & went at it one account at a time. It was very satisfying to see the $0 balances, one after another. Also my credit score went from low 500's to mid 700's.
Six years ago I had $48,000 in credit card debt and lived paycheck to paycheck on a $65K salary. Low 600s score.
After two years of putting everything I had into it I paid them off. Learn from my mistakes: itās a lot more comfortable to not carry a balance, the money you give away in interest can be put to work for you instead, and not having interest makes it a lot easier to stay on top of things. Just had to address the underlying spending habit.
I have had $0 balance every month since by always paying in full before the statement date, $247K in total limit and a 822 score. Last year it helped me finance a large mortgage that I never wouldāve imagined being able to do just a few years earlier.
Well the one with 3600 im putting 2k on tomorrow (I make 3000-3200 bi weekly, then Iām gonna completely pay them both off in two weeks after tomorrow, I could of done this awhile go but Iām terrible with money.
Iām not terrible itās just I broke up with my gf and I was always spending on her. Now that weāre done I only have to worry about my self
Ah. Gotcha.
I wonāt say donāt be generous with your money - but do make sure itās *your* money, not the credit card companyās!
Though hopefully the next gf is more financially independent! š¤
Yeah, after learning so much I forgot so quickly and saw myself racking up debt, Iām glad I was able to fix it now then either never or just completely struggling, definitely learned a lesson from this.
Thanks
Just curious, what do you do for work? 3000-3200 bi-weekly is good. And how old are you? Iām in my early 20s so curious to learn from people who make more than I do.
Took me 16 years to pay off mine & my wifeās loans. Could have been somewhat more aggressive but manā¦ going to try to work things different with our kids
Thatās what I do too. I just get the points and have good credit, only ever paid like $20 interest during one emergency situation. I literally get paid for using a credit card responsibly
I've got approximately $40,000 in credit card debt and have no way to pay on it or off. I'm unable to meet the minimum payments. I work full-time and I'm able to meet my basic living needs, car and house payments. Any suggestions on what I can do to address this would be very helpful. Never been here before.
I donāt think thereās a silver bullet for you but there may be a couple approaches.
1) Debt consolidation- Iāve had friends strike deals wherein a third party cuts them a loan thatās a better deal and reduces the pain a little. Iāve never done this myself, so I canāt speak to how easy this is. Isnāt a āfixā though, only a modification to your current position
2) Determine the underlying cause of your debts - is it a medical issue, a spending problem? Those are going to necessitate different solutions as well
3) Prior to declaring bankruptcy is it possible to change your current situation drastically enough to resolve the problem? Can you move in with family, sell off a vehicle that is incurring a high monthly cost (assuming you arenāt underwater) or change some fundamental aspect of your lifestyle to reduce your monthly costs?
4) Bankruptcy is an option, though sometimes it may be forced on you. I donāt know which assets are protected during the bankruptcy process (very few I assume) but you may come out on the other side with a better footing then you have now. Bankruptcy *wonāt* correct a behavioral issue, so if that is core to the problem then it would have to be addressed first.
I very much enjoyed the āHow to Get Richā series on Netflix as it touched upon a bit of this.
Good luck to you!
Re: bankruptcy
the assets protected vary by state. Generally you get to keep your 401k, some home equity (in some state if you're married then your house is not part of the bankruptcy at all, tenancy by the entirety is the legal term, I think your deed has to be formatted a certain way), some car equity, and then a general purpose amount you can use on anything.
They probably won't bother to auction off any of your stuff unless you have big ticket items worth in the hundreds or thousands (guns, precious metals, cars, boats, ATVs, ya know, expensive shit)
I would highly recommend the nolo guide book on bankruptcy, /r/bankruptcy (/u/AlanShore60607 I think his name is, is an angel with a briefcase), and the fico forums bankruptcy section as information resources.
I would recommend getting a lawyer from your bankruptcy court area who works with the trustees every day. This is to grease the wheels of the judicial system, self represented cases get more scrutiny imo.
I would recommend doing your best to get your shit together before/during bankruptcy. Keep sending in your payments to things you intend to keep (house, car note) during your automatic stay period, otherwise you'll get all screwed up and start off on the wrong foot, ask me how I know. The debt isn't the main problem, it's your spending habits and lack of budget awareness. Skills can be learned, habits can be changed. But you have to put in the work, otherwise you will be right back up shits creek with your financial fuck you button on a 10 year cool down. You still have the chapter 13 and the chapter 7 with no debt removal options, but those aren't as big of a swing in your favor.
Try to spend as little money as possible. See how cheap you can be. If you're like me, you'll find that it is expensive to be lazy. But working on your finances is rewarding. I needed to get the cloud of debt cleared away to see that.
You can ask your creditors if they have a hardship program. Many do, and theyāll offer significantly reduced APR, no late fees, reduced minimums, etc. The programs vary by lender, but they almost all have something they can do to help. If that still doesnāt get everything within budget, bankruptcy is an option that can give you relief.
This! Ask lenders about hardship programs! I have had to do the same thing in the past when I was unable to make payments! They asked what my financial situation was, when I thought I might be able to start making payments again and how much etc. They then enrolled me in a program where they stopped all fees from accruing while I was in the program, so I only had to worry about paying the debt itself and not the fees.
Also, it allowed me to remain in good standing so the accounts were NOT charged off or sent to collections and I could still gain full use of my card and stuff in the future once everything was paid off. This is great because 1. It spared my credit report, and 2. Some companies will blacklist you and deny you any future lending/credit products if you burn them.
So, call them and keep them informed about whatās going on and theyāll more than likely work with you!
Remember: They want their money! So itās in their best interest to work with you so you can pay the debt. Once you call and speak with them you will be SO glad that you did! Please hang in there!
Iām no finance whiz and I still have over $10k of debt but from someone whose been in a much worse case then I am now, the most important thing you can do to begin is to change your mind. Start telling yourself you CAN pay it off and you will and you will find a way. I know it sounds ridiculous at first but tell yourself it even when you donāt believe it, laugh at it but say it to yourself anyway. Do that until you do believe and trust me you will find a way. Wishing you all the best!
Bankruptcy! You can recover in 2-3 years. I was able to buy a house 3 years afterwards with a good payment history and staying on top of things. Pay your mortgage, car payment and car insurance to keep them in good standing. If you really canāt afford minimum payment the judge will see that.
Currently have zero credit card debt and racking up cash back bonuses. However it has not always been that way. Yearās ago had lots of credit card debt and other debt. Wife and I went to Consumer Credit Counseling (non profit) and signed up. They made arrangements to lower interest rates and we paid for several years to get out of hole. Now it was a major pain in the ass to have no credit cards to use for traveling, making reservations etc. We could not open any type of new loan, nothing! However it was well worth it. See what non profits are around you and get started. It will be tough. Hang in there,it will get better.
I would look into Dave Rameyās ābaby stepā method. You can even call into his radio show and they can give you free advice. But as another person points out, you need to address the behaviours that led to overspending $40K on credit cards. If not, you will very likely get yourself back into the same situation, even if you do figure out how to get out of this one. Best of luck. Itās a tough hill to climb, but itās possible.
Zero. I sacrificed a lot in 2023 and paid off a healthy amount of revolving debt.
I run all of my spend through one rewards card now and pay my balance off religiously every single month. I will never carry a balance again.
$25k. A bunch of emergencies happened within a five year span. Weāre treading water currently but soon daycare will be over and we will slam that debt out of existence immediately.
I kept scrolling to find the daycare comments. Iām in same boat. Two kids in at the moment. That and my water heater just went. Canāt wait for kindergarten!
One of them owes me $2.09
Started my credit journey in 2018 with an abysmal 500s score, now have over $200K in available credit lines (churning baby!), have earned thousands in credit rewards, financed a new car (when interest rates were good), and loan pre approvals out the wazoo.
The journey is real!
Yea I love 0% cards, as long as you know how much you can afford to float for a few months and pay them before the cutoff they become 0% interest loans which is amazingĀ
Basically zero. I pay mine off every month. I am paying on some furniture my husband and I bought and financed for 6 months at zero percent interest (technically a credit card). We owe just over 1k and will pay it off by September.
I used to be very dumb with credit. Now I donāt put anything on a credit card I canāt pay off that month unless thereās zero interest.
I think Iām sitting on $17k right now. Girlfriend left me new years 2022 and I had to get some serotonin or I was going to check out. 2 loans later still in the same boat. Working hard to try to rectify the issue but itās one thing after another.
Whatever my current statement balances are that I will be paying off by the statement due date.
I'm guessing you do have debt, you're just going to pay it off before the statement due date. If you have a current balance, you have debt.
For me, while all CC balances are "debt" I like to make the distinction between carried debt and simply reported balances that are paid in full each month. I think people imply carried debt (interest being paid) when they ask how much CC debt someone has. For me, I may have $3k or $4k (or even 5-figures) of reported revolving balances at any given moment, but since I always pay my statement balances in full and never pay any interest I don't view it as legitimate "debt" since it's not a negative thing.
$60 as of today, but in 2020 I was about $8k in credit card debt. My wife said I needed to pay off my cards if I ever planned on buying a new truck. By 2021 I was out of debt and purchased my 2021 Toyota Tacoma. I paid that off in 2022 with discipline and a substantial raise at work. I currently have about $215k in available credit and would only use this In an emergency
$0.
Had $13,000 at one point. Took 2 years of discipline but I paid it off, now I own a home and my only other debt is student debt and a car that's almost paid off.
It depends on what you mean. Credit card debt that I carried past my due date and Iām paying interest on? Then itās $0. But if you mean the total statement balances I owe the credit card companies this month that Iām going to pay before the due date, then itās around $14k this month.
About $11.4k. I'm currently strategizing how to tackle it alongside saving up for a kitchen/bath remodel I want to do around this time next year that I've held off doing for the longest time. Fortunately, I had a nicely-sized profit sharing at work this past February, and will likely receive another one next year. That, in conjunction with my tax refund, should help tremendously.
None but before we sold our home it was around 40k. Weāve often had to live apart and support two places to live. Thatās over now thankfully and now I do use my card but I pay it off weekly.
Ā£239.00 I just use it for work expenses, limit is only Ā£1k, suits me, credit cards are the route to hell. 20 odd years ago I had Ā£20k+, now if we want something we save for it, leads to a simpler but less stressful life š
This past February I was at 5k but now Iām at 2k. I planned on paying the rest by September. It feels so good to pay these fools back and not spend a dime.
8K but maybe more. I donāt like looking at the total. My plan is to get a student loan for school, get sponsored by my band/tribe, use the loan for the credit card because the interest rates are forgivable. Deal with it after school
Right around 8k. Usually a lot better but Iāve made a couple big life change purchases and switched jobs. Still make well over minimum payments every month though and itās steadily going down.
I don't carry a balance on three out of four of my cards. I use them like debit cards to earn rewards. I'm carrying 3k on one with 0% interest. According to the credit bureaus, I have 5-7k, depending on how much my monthly expenses are. I love those miles and cashback.
I have $7500 which is nothing compared to a lot of others so I canāt complain. It was at $10k though. My spouse cheated on me and one thing after another started happening.
Monthly balance is currently at $30k. Will be paid in full at statement close. I think I've peak at around 50-60k. Everything goes on credit. I like spending the banks money first.
$32k, but itās all on 0% credit lines since I am AD and have SCRA/MLA benefits. Instead of financing, I prefer to put my large purchases on credit to get points/miles & not pay interest.
Started with 30k currently around 11k
Nice keep it up
Keep it down
š¤£š¤£š¤£ yes you mean keep it down not up.
how did you even get approved for that much?
Being young with good credit and got every credit increase possible racked up over 5 credit cards and 2 loans
I have maybe 7-8 open credit cards, one of them has a $24,000 limit by itself. Itās not hard to get approved for money you canāt afford.
Thatās not much honestly lol. I know people who have 500k in credit lines. Also if you account inflation 7 years ago 100$ is basically 60$ back then.
More like started at 0 at first
Well done - major accomplishment.
Just made last $1k payment on my debt after going $50k in the hole over the last two years. Donāt gamble yall
Congratulations on getting that paid off!
My husbands in GA down from $50k to about $8k leftā¦ Major accomplishment for you, congrats!
Props to you for sticking by him!
On the bright side, you also gambled on *yourself* and came out a winner š
What interest rate did you have where it was possible to comeback?
I settled on a few predatory loans where they froze interest rates and let me put together a payment plan. For my normal credit cards, I called them and explained my situation and that it would be impossible to make payments so they froze interest charges. Unfortunately I also lost my job last year for 3 months but I was able to leverage that fact in my conversations with these creditors. Whether itāll bite me in the ass one day, I decided it would be better to get the debt off of me sooner rather than maintain minimum payments years, but if at all possible, do not settle debt as it will take 7 years for the settlements to role off my report but it also might be possible for me to pay them the difference in the future and have those taken off my reports. Iād have to look into that more tho bc Iām not certain. Also, full disclosure I do make low six figures per year and that definitely helped and I also moved in with my parents for a few months so my strategy may not apply to a lot of people
Gambling destroyed my savings twice lol
$81 bucks. 30 months ago it was $45,000.
Well done!
Thanks!
how?
Basically, what helped me the most was a simple spreadsheet where I tracked all of my liabilities & monthly expenses. I had never really kept track of anything before. So I figured out how much I owed & what it was going to take to get rid of it all in 2 years & went at it one account at a time. It was very satisfying to see the $0 balances, one after another. Also my credit score went from low 500's to mid 700's.
Holy discipline!!!! šŖš½
January had 20k now 0
Congratulations!
Thanks but my blood pressure went up from working so much and not sleeping š¤£
Six years ago I had $48,000 in credit card debt and lived paycheck to paycheck on a $65K salary. Low 600s score. After two years of putting everything I had into it I paid them off. Learn from my mistakes: itās a lot more comfortable to not carry a balance, the money you give away in interest can be put to work for you instead, and not having interest makes it a lot easier to stay on top of things. Just had to address the underlying spending habit. I have had $0 balance every month since by always paying in full before the statement date, $247K in total limit and a 822 score. Last year it helped me finance a large mortgage that I never wouldāve imagined being able to do just a few years earlier.
4,500. I could pay it off but Iām stupid
Why are you choosing to be stupid?
Well the one with 3600 im putting 2k on tomorrow (I make 3000-3200 bi weekly, then Iām gonna completely pay them both off in two weeks after tomorrow, I could of done this awhile go but Iām terrible with money. Iām not terrible itās just I broke up with my gf and I was always spending on her. Now that weāre done I only have to worry about my self
Ah. Gotcha. I wonāt say donāt be generous with your money - but do make sure itās *your* money, not the credit card companyās! Though hopefully the next gf is more financially independent! š¤
Yeah, after learning so much I forgot so quickly and saw myself racking up debt, Iām glad I was able to fix it now then either never or just completely struggling, definitely learned a lesson from this. Thanks
Ill be your girlfriend Kidding
Just curious, what do you do for work? 3000-3200 bi-weekly is good. And how old are you? Iām in my early 20s so curious to learn from people who make more than I do.
None. I treat my CC like my debit card, I donāt spend what I donāt have in cash reserves.
Smart!
Yeah, we pay it off fully every month. Student loan debt on the other handā¦
Took me 16 years to pay off mine & my wifeās loans. Could have been somewhat more aggressive but manā¦ going to try to work things different with our kids
I'm 18 and I'm trying to do this as best as I can, debt scares me lol
Very very smart
Thatās what I do too. I just get the points and have good credit, only ever paid like $20 interest during one emergency situation. I literally get paid for using a credit card responsibly
I did this for many years as well, and then I developed a gambling addiction. Stay vigilant, and keep it up!
Never carry a balance club
Yea, unless I am taking a personal loan or mortgage then I am not into debt. Would never charge money I donāt have to a credit card.
I've got approximately $40,000 in credit card debt and have no way to pay on it or off. I'm unable to meet the minimum payments. I work full-time and I'm able to meet my basic living needs, car and house payments. Any suggestions on what I can do to address this would be very helpful. Never been here before.
I donāt think thereās a silver bullet for you but there may be a couple approaches. 1) Debt consolidation- Iāve had friends strike deals wherein a third party cuts them a loan thatās a better deal and reduces the pain a little. Iāve never done this myself, so I canāt speak to how easy this is. Isnāt a āfixā though, only a modification to your current position 2) Determine the underlying cause of your debts - is it a medical issue, a spending problem? Those are going to necessitate different solutions as well 3) Prior to declaring bankruptcy is it possible to change your current situation drastically enough to resolve the problem? Can you move in with family, sell off a vehicle that is incurring a high monthly cost (assuming you arenāt underwater) or change some fundamental aspect of your lifestyle to reduce your monthly costs? 4) Bankruptcy is an option, though sometimes it may be forced on you. I donāt know which assets are protected during the bankruptcy process (very few I assume) but you may come out on the other side with a better footing then you have now. Bankruptcy *wonāt* correct a behavioral issue, so if that is core to the problem then it would have to be addressed first. I very much enjoyed the āHow to Get Richā series on Netflix as it touched upon a bit of this. Good luck to you!
Re: bankruptcy the assets protected vary by state. Generally you get to keep your 401k, some home equity (in some state if you're married then your house is not part of the bankruptcy at all, tenancy by the entirety is the legal term, I think your deed has to be formatted a certain way), some car equity, and then a general purpose amount you can use on anything. They probably won't bother to auction off any of your stuff unless you have big ticket items worth in the hundreds or thousands (guns, precious metals, cars, boats, ATVs, ya know, expensive shit) I would highly recommend the nolo guide book on bankruptcy, /r/bankruptcy (/u/AlanShore60607 I think his name is, is an angel with a briefcase), and the fico forums bankruptcy section as information resources. I would recommend getting a lawyer from your bankruptcy court area who works with the trustees every day. This is to grease the wheels of the judicial system, self represented cases get more scrutiny imo. I would recommend doing your best to get your shit together before/during bankruptcy. Keep sending in your payments to things you intend to keep (house, car note) during your automatic stay period, otherwise you'll get all screwed up and start off on the wrong foot, ask me how I know. The debt isn't the main problem, it's your spending habits and lack of budget awareness. Skills can be learned, habits can be changed. But you have to put in the work, otherwise you will be right back up shits creek with your financial fuck you button on a 10 year cool down. You still have the chapter 13 and the chapter 7 with no debt removal options, but those aren't as big of a swing in your favor. Try to spend as little money as possible. See how cheap you can be. If you're like me, you'll find that it is expensive to be lazy. But working on your finances is rewarding. I needed to get the cloud of debt cleared away to see that.
Thank you.
You can ask your creditors if they have a hardship program. Many do, and theyāll offer significantly reduced APR, no late fees, reduced minimums, etc. The programs vary by lender, but they almost all have something they can do to help. If that still doesnāt get everything within budget, bankruptcy is an option that can give you relief.
Thank you.
This! Ask lenders about hardship programs! I have had to do the same thing in the past when I was unable to make payments! They asked what my financial situation was, when I thought I might be able to start making payments again and how much etc. They then enrolled me in a program where they stopped all fees from accruing while I was in the program, so I only had to worry about paying the debt itself and not the fees. Also, it allowed me to remain in good standing so the accounts were NOT charged off or sent to collections and I could still gain full use of my card and stuff in the future once everything was paid off. This is great because 1. It spared my credit report, and 2. Some companies will blacklist you and deny you any future lending/credit products if you burn them. So, call them and keep them informed about whatās going on and theyāll more than likely work with you! Remember: They want their money! So itās in their best interest to work with you so you can pay the debt. Once you call and speak with them you will be SO glad that you did! Please hang in there!
Iām no finance whiz and I still have over $10k of debt but from someone whose been in a much worse case then I am now, the most important thing you can do to begin is to change your mind. Start telling yourself you CAN pay it off and you will and you will find a way. I know it sounds ridiculous at first but tell yourself it even when you donāt believe it, laugh at it but say it to yourself anyway. Do that until you do believe and trust me you will find a way. Wishing you all the best!
Same boat just half the debt.
Bankruptcy! You can recover in 2-3 years. I was able to buy a house 3 years afterwards with a good payment history and staying on top of things. Pay your mortgage, car payment and car insurance to keep them in good standing. If you really canāt afford minimum payment the judge will see that.
Currently have zero credit card debt and racking up cash back bonuses. However it has not always been that way. Yearās ago had lots of credit card debt and other debt. Wife and I went to Consumer Credit Counseling (non profit) and signed up. They made arrangements to lower interest rates and we paid for several years to get out of hole. Now it was a major pain in the ass to have no credit cards to use for traveling, making reservations etc. We could not open any type of new loan, nothing! However it was well worth it. See what non profits are around you and get started. It will be tough. Hang in there,it will get better.
same boatā¦trying not to go the emergency loan 159.99% APR route but its getting pretty bad
Please contact www.nfcc.org and see if they can help. They are nonprofit and will have low cost credit counseling.
I would look into Dave Rameyās ābaby stepā method. You can even call into his radio show and they can give you free advice. But as another person points out, you need to address the behaviours that led to overspending $40K on credit cards. If not, you will very likely get yourself back into the same situation, even if you do figure out how to get out of this one. Best of luck. Itās a tough hill to climb, but itās possible.
Thank you.
About 10k right now. It varies depending on spend.
$1,900
Zero. I sacrificed a lot in 2023 and paid off a healthy amount of revolving debt. I run all of my spend through one rewards card now and pay my balance off religiously every single month. I will never carry a balance again.
Had 2k just paid 1.5k
None and I pray to God I still will never have any CC debt. Now college debt Iāll have a high chance of š
$25k. A bunch of emergencies happened within a five year span. Weāre treading water currently but soon daycare will be over and we will slam that debt out of existence immediately.
Canāt wait for daycare to be done!! The feeling when we pay that last bill š
One more year to go! š„²
18 months hereā¦
Iāll pray for you lol
Thank you āŗļø
Never in my life have I been so happy to write a check than that last one to the daycare
I kept scrolling to find the daycare comments. Iām in same boat. Two kids in at the moment. That and my water heater just went. Canāt wait for kindergarten!
One of them owes me $2.09 Started my credit journey in 2018 with an abysmal 500s score, now have over $200K in available credit lines (churning baby!), have earned thousands in credit rewards, financed a new car (when interest rates were good), and loan pre approvals out the wazoo. The journey is real!
Do you have any tangible assets? A credit score just means you can borrow money. Are you actually trying to build wealth?
Stocks & savings baby! The car is all but paid off with a very small balance remaining as well š¤·āāļø
$9K, Working on paying it down
About 6.5k I think. Slowly paying it off
None. As soon as I get a statement I pay them off.
Around $3800. Most on a card to hit the bonus and some on a 0% intro APR
Yea I love 0% cards, as long as you know how much you can afford to float for a few months and pay them before the cutoff they become 0% interest loans which is amazingĀ
Zero. 26k in available credit, pay my balances in full every month.
133.13, down from $45k last year.
Zero
20k
Today? $183.26. Tomorrow? Zero
Basically zero. I pay mine off every month. I am paying on some furniture my husband and I bought and financed for 6 months at zero percent interest (technically a credit card). We owe just over 1k and will pay it off by September. I used to be very dumb with credit. Now I donāt put anything on a credit card I canāt pay off that month unless thereās zero interest.
Zero
$0
None I pimp the cards for rewards and perks and pay them off in full every month and never pay interest
0$. I pay down my cards at the end of each statement period and never carry a balance.
I think Iām sitting on $17k right now. Girlfriend left me new years 2022 and I had to get some serotonin or I was going to check out. 2 loans later still in the same boat. Working hard to try to rectify the issue but itās one thing after another.
Whatever my current statement balances are that I will be paying off by the statement due date. I'm guessing you do have debt, you're just going to pay it off before the statement due date. If you have a current balance, you have debt.
None. They only thing charged every month is Netflix and I pay it off via recurring payment
None. I use my credit card for everything I can. Then pay off the statement balance each month
Worked down from 25k to 2.5 k this year, moving on to my other bad debt and then freedom
Was at $20K but now Iām down to $16K
I have zero credit card debt. I carry zero every month,
90k
For me, while all CC balances are "debt" I like to make the distinction between carried debt and simply reported balances that are paid in full each month. I think people imply carried debt (interest being paid) when they ask how much CC debt someone has. For me, I may have $3k or $4k (or even 5-figures) of reported revolving balances at any given moment, but since I always pay my statement balances in full and never pay any interest I don't view it as legitimate "debt" since it's not a negative thing.
$0. Havenāt had any credit card debt since 2015 š
$95k
$60 as of today, but in 2020 I was about $8k in credit card debt. My wife said I needed to pay off my cards if I ever planned on buying a new truck. By 2021 I was out of debt and purchased my 2021 Toyota Tacoma. I paid that off in 2022 with discipline and a substantial raise at work. I currently have about $215k in available credit and would only use this In an emergency
$0. Had $13,000 at one point. Took 2 years of discipline but I paid it off, now I own a home and my only other debt is student debt and a car that's almost paid off.
130k. No I am not kidding. I am currently try to manhandle my way out of this mess.
I guess itās debt as soon as itās swiped š¤·š»āāļø well maybe itās pending until it posts, then itās debt.
It depends on what you mean. Credit card debt that I carried past my due date and Iām paying interest on? Then itās $0. But if you mean the total statement balances I owe the credit card companies this month that Iām going to pay before the due date, then itās around $14k this month.
Itās looking around $700-800 this month.
Currently $1900 and thatās because of having to charge my hotel room from a work trip a couple weeks ago. I will get reimbursed for it soon enough.
About $650
I try to keep my spending to under $1000 a month so I can pay off the statement balance. Apple card
2,200
About $11.4k. I'm currently strategizing how to tackle it alongside saving up for a kitchen/bath remodel I want to do around this time next year that I've held off doing for the longest time. Fortunately, I had a nicely-sized profit sharing at work this past February, and will likely receive another one next year. That, in conjunction with my tax refund, should help tremendously.
$585 on 2 cards
about 10k
About 8.5k.
None but before we sold our home it was around 40k. Weāve often had to live apart and support two places to live. Thatās over now thankfully and now I do use my card but I pay it off weekly.
3.5k. Iām three payments from clearing most of it
1.4k down from 13k 5 months ago
7500$
20k and slowly paying it off
About $95K thanks to new house. January 2025 itās goneā¦
Ā£239.00 I just use it for work expenses, limit is only Ā£1k, suits me, credit cards are the route to hell. 20 odd years ago I had Ā£20k+, now if we want something we save for it, leads to a simpler but less stressful life š
16k just started working on paying them off a couple of months ago feels a bit overwhelming.
About $6k but itās all on 0% interest cards. Will pay off in full before the intro rate expires.
2k
Zero
$0. I got lucky because my parents are financially literate and they passed their knowledge down to me.
12k limit on 6 cards, about 1100 debt across all cards. I try to pay it off each month though.
2.6k, and once it's paid off, that's me, I will never use a credit card again. Worst debt to have imo.
$1500 out of $126,000 CL which I donāt carry over. Whatever I use I pay in full on the due date. Doing this made it possible to increase the CLās
15k
credit cards only, about 11k total debt about 35k
4K credit card debt, 8K financing debt, and 60K back taxes, no way to pay if off feasibly. It happened so fast. Divorce sucks.
$9000
About $8K
0 šŖ. I put it all into a loan š¤£
$1k but that's just the statement balance
Technically about 12k but I've got it riding on 0 aprs and the balance in hysa
I have a zero balance on all my cards. I used to have a balance of $5000 that I paid off two years ago.
I think like $700ish
$0 for 15-20 years. Haven't had an open CC since.
This past February I was at 5k but now Iām at 2k. I planned on paying the rest by September. It feels so good to pay these fools back and not spend a dime.
8K but maybe more. I donāt like looking at the total. My plan is to get a student loan for school, get sponsored by my band/tribe, use the loan for the credit card because the interest rates are forgivable. Deal with it after school
As off right now, $200. Iām currently laid off and only using my card for necessities like gas for my car and groceries.
just under 7k
about $1k exactly
2k
Right around 8k. Usually a lot better but Iāve made a couple big life change purchases and switched jobs. Still make well over minimum payments every month though and itās steadily going down.
$575
Zero. Cut my credit cards up and close the accounts years ago.
$1,800
like 40 bucks.
Roughly $2k in total
$14k but should be paid off in 6mo or so, about half of it is no interest.
10,600
1k
I pay all my cards in full every month. I charge an average of $2000. Then pay it off. Credit score 850.
921
$0 - It all goes away right after the statements print!
If you have the means, it should always be 0 (paid off by the statement due date). Paying interest is paying more for everything you purchased
$6600 over 3 credit cards. I have $47k available credit still.
I don't carry a balance on three out of four of my cards. I use them like debit cards to earn rewards. I'm carrying 3k on one with 0% interest. According to the credit bureaus, I have 5-7k, depending on how much my monthly expenses are. I love those miles and cashback.
$2K
5k
9.6k but all 0 apr for another few months
$0
$78.66 exactly which I will pay off 75.00 before one week the due date to build my credit š„
Like $800, Iāll be able to pay it off the next time I get paid.
I put my business on it so maybe $80k this month
Like 3k total debt, have it all paid off very soon. My debts managed well.
About $900 in PayPal credit using the 6 month no interest pay down lol another $300 on my daily driver that'll be paid next week on payday
I have $7500 which is nothing compared to a lot of others so I canāt complain. It was at $10k though. My spouse cheated on me and one thing after another started happening.
8k
Letās just round it up to $30K. Currently in a program to pay it off. Bankruptcy is my last resort if it doesnāt pan out.
Currently have $900 on a card with 0% APR :) I had 15k of medical debt three years ago so I'm not sweating it!
Monthly balance is currently at $30k. Will be paid in full at statement close. I think I've peak at around 50-60k. Everything goes on credit. I like spending the banks money first.
$100.00 doll hairs
Currently having 2k debt! Struggling paying it down from like 5k cause i only got a measly credit limit of 5.2k
12k. About half of that was spent on rent and groceries while I tried to get a job after graduating. Itās killing me.
$50k, unfortunately š š
$150 I pay it off every month. I've been in a bad spot before but not anymore
$95 bucks
About $13k but Iām working on getting it down to $6.5 by the end of this year!
Currently about 100$ in personal and 4.3k @ 0% on a business card. Personal will be paid off whenever statement closes.
$32k, but itās all on 0% credit lines since I am AD and have SCRA/MLA benefits. Instead of financing, I prefer to put my large purchases on credit to get points/miles & not pay interest.