The American Issue: Debt

[Zero V]

The magic word that describes most of our lives.

I am 21, about to be 22 and 2 years worth my wages in debt. I am going into construction next summer so I can rake in some serious cash to free myself from this. Why am I in debt? a chunk was being stupid in the past....leftovers from my ex....... a good chunk is medical bills.....student loans.

My plan is to use construction (seeing as you can net 10-15K easy over the summer working 70 hours weeks....i believe) to alleviate this. As well as studying enough to become a PT, which pays better and would be a job I would love while in college(and after)

Anyone else want to get this crap off your chest? share ideas, support, etc. I have seen debt eat peoples lives up. I wont let it me, is it overwhelming yes....but does it own me, NO.

 

[Rugger]

I have student loan debt, nothing else. Why? Cuz I'm not an idiot and don't spend money I don't have. I can understand using a CC for emergencies, but those emergencies usually don't come often enough to summate any substantial debt. Medical? Well that's another issue. Luckily I have good coverage.

 

[Zero V]

I have student loan debt, nothing else. Why? Cuz I'm not an idiot and don't spend money I don't have. I can understand using a CC for emergencies, but those emergencies usually don't come often enough to summate any substantial debt. Medical? Well that's another issue. Luckily I have good coverage.

spent my entire life with no insurance until the last couple months now.....it isn't pretty....gyuh....

 

[Omen]

21 years old, 750 FICO score in 3 bureaus, at the moment, $50 debt in 3 credit cards, $200 credit with the power company, $300 credit with the cell/internet company, 1 month rent always in advance, $1000 saved up for emergencies.

I LOVE spending money, but I hate being broke so I'm very careful with what I do with my money.

 

[holyintellect]

With the exception of about 5 people I know, every single one of them is so far in debt, they'll never dig out. That includes the doctors, etc that I know...

I think the biggest stumbling block for most people is divorce and no insurance. I have two sons, and I couldnt imagine the costs I would have accrued without it.

When I was younger I had a ton of CC debt, but about five years ago I closed them out and paid them off...I no longer have a CC, and its a good thing because if I did I would still be ringing up the debt. I realize that I am simply not the type of person that does well with a CC so Ive decided to not have one.

holy

 

[Usf97j4x4]

I only have about 3,000 on credit cards, only because I used them to finance a major home renovation. I am not paying interest on it though. I plan to have it paid off in about 3 months.

My big concern now is law school, which is costing me approximately $28,000 per year if I include summer sessions. Most of this is at 6%, the math is not pretty.

I do have a plan though, I live in the hood right now and my house only runs about $1,000, including mortgage, insurance, taxes, etc. If I can come out school making 100k/year and stay in my house, maintain my current lifestyle and live at my current means for 2 years after school at that salary I should be able to pay the majority of my student debt (estimated at $110k) off fairly quickly. Then I am going to move the HELL OUT! lol

The key to staying out of debt is living within (or below) your means

 

[Palo Alto Labs]

You would think that our schools would offer a mandatory class on money and finance and the power of compound interest.

but nope.. we deliver kids to their 18th birthday with no idea how hard it is to pay off credit card debt when most of these kids have 19.99 APRs and charge everything.

We teach them how to spend, how to afford a $40k car when we only make $25k/year.

We make them think that credit cards are great bc you can charge $400 now and pay the minimum $25 per month.

Then we FAIL to teach them how to invest a few bucks at 18-21 years old in an IRA and retire healthy and wealthy.

Ive got a little bit of CC debt, but nothing that keeps me up at night. Ill have it paid off in a year and all of my finances are in line. I wish someone had taught me in high school how money really works. I was lucky/smart to never get in trouble, but ive seen far too many go that route.

 

[Dadof2]

The magic word that describes most of our lives.

I am 21, about to be 22 and 2 years worth my wages in debt. I am going into construction next summer so I can rake in some serious cash to free myself from this. Why am I in debt? a chunk was being stupid in the past....leftovers from my ex....... a good chunk is medical bills.....student loans.

My plan is to use construction (seeing as you can net 10-15K easy over the summer working 70 hours weeks....i believe) to alleviate this. As well as studying enough to become a PT, which pays better and would be a job I would love while in college(and after)

Anyone else want to get this crap off your chest? share ideas, support, etc. I have seen debt eat peoples lives up. I wont let it me, is it overwhelming yes....but does it own me, NO.

What kind of construction were you considering going into? The reason that I ask is because there are many illegals in construction work, and as a result you can expect to have to work for less than you would like to.

If I were you I would consider getting into a union apprenticeship. You mentioned construction so perhaps you could enter the Carpenter's Union. An apprentice in the Carpenter's Union earns $12.50 an hour + $7 an hour in benefits. That is decent money for a young guy, and I would look into it if I were you.

 

[Rugger]

What kind of construction were you considering going into? The reason that I ask is because there are many illegals in construction work, and as a result you can expect to have to work for less than you would like to.

If I were you I would consider getting into a union apprenticeship. You mentioned construction so perhaps you could enter the Carpenter's Union. An apprentice in the Carpenter's Union earns $12.50 an hour + $7 an hour in benefits. That is decent money for a young guy, and I would look into it if I were you.

One of my good buddies got into a construction business last summer. He had no experience and pulled down 24/hr before taxes.

 

[Usf97j4x4]

One of my good buddies got into a construction business last summer. He had no experience and pulled down 24/hr before taxes.

Geez, that's decent money.

 

[holyintellect]

The best class I ever had in HS was called Consumer Math...We had to keep up with a fake checkbook, file taxes, etc...I guarantee I learned more in that class than virtually any other class I have ever taken.

As an aside, I am on the hiring committee for a large petroleum company, although I work in their chemical division....There have been a few instances where we have hired young guys who went from making $10/hr to making $25/hr...These guys literally spent money like they had won the lottery, and by the time they had been on the job for a year were already head over heels in debt...

holy

 

[Usf97j4x4]

The best class I ever had in HS was called Consumer Math...We had to keep up with a fake checkbook, file taxes, etc...I guarantee I learned more in that class than virtually any other class I have ever taken.

As an aside, I am on the hiring committee for a large petroleum company, although I work in their chemical division....There have been a few instances where we have hired young guys who went from making $10/hr to making $25/hr...These guys literally spent money like they had won the lottery, and by the time they had been on the job for a year were already head over heels in debt...

holy

That's how it goes. Everyone wants to live above their means and have nice things.

 

[Dadof2]

One of my good buddies got into a construction business last summer. He had no experience and pulled down 24/hr before taxes.

Was he working for himself or with a partner?

 

[Zero V]

I would like that apprenticeship idea....I will look into it.
Any construction, I dont care about hard work. I feel accomplished and proud when I work my rear off. That 24 an hour is what I heard , I would be happy with 17 an hour really. I make 11 an hour now, and have to pay for insurance....

about half my debt came from stupidity when I was younger, the other half is legit or medical, etc. I always pay more than the minimum, and my highest APR is 8.9% I think. I wont go bout 9% on anything, even a CC.

I am looking at 3 years to pay it off with normal jobs & school, or construction I can make it a year and a half. I also plan on taking my test to be a PT in January. My credit score is 720 thought

Cant wait to graduate and be a teacher.....so I can warn them not to make the same mistakes....even though we all know we don't listen.

 

[Zero V]

The best class I ever had in HS was called Consumer Math...We had to keep up with a fake checkbook, file taxes, etc...I guarantee I learned more in that class than virtually any other class I have ever taken.

As an aside, I am on the hiring committee for a large petroleum company, although I work in their chemical division....There have been a few instances where we have hired young guys who went from making $10/hr to making $25/hr...These guys literally spent money like they had won the lottery, and by the time they had been on the job for a year were already head over heels in debt...

holy

I get a job making 25 an hour, I am not spending. My plans are to pay off this ridiculous debt, and put everything else back for when I find my wife. I don't need much. Now that I am smarter. All I need is an occasiobal game to play around with in my free time, a gym membership(mine is $155 a year), and great friends(which I have at church). Spending includes food and supps. I have needed new shoes for about....6 months now...

 

[Usf97j4x4]

I get a job making 25 an hour, I am not spending. My plans are to pay off this ridiculous debt, and put everything else back for when I find my wife. I don't need much. Now that I am smarter. All I need is an occasiobal game to play around with in my free time, a gym membership(mine is $155 a year), and great friends(which I have at church). Spending includes food and supps. I have needed new shoes for about....6 months now...

I do a dollars and sense budget every month. Budget down to the friggin pennies lol

 

[Nabisco]

I guess it depends on your background and environment. I know people who make a lot less money than me, but already own homes, nice new cars, among other things and I can't fathom how they afford it. Until I remember that they are all up to their eyeballs in debt.

My parents from a young age taught me the value of money. Best thing my dad did was sit me down before I graduated college and teach me about compound interest, budgets, stocks, bonds, etfs, mutual funds, diversification, how to manage and balance portfolios.

I've saved more for retirement in the two years since I graduated than most people I know who are 5+ years older than me.

I drive a '97 Toyota Avalon, I live in a decent apartment, I take reasonable vacations, I buy what I want mostly. But most importantly I live WELL within my means. I don't spend frivolously. Learn the basics, they will pay off greatly later in life.

And I always, ALWAYS, pay off my credit cards every month. I've never paid anything less than the full amount every single month. Because why the hell would I want to buy something for $500 dollars now, then pay the credit card company back $900 dollars over six months? To some people that sounds fine, but to me it sounds rediculous.

Hence the reason I'm debt free, have a well stocked 401k, and good start in my Roth IRA, a sizeable regular IRA (rolled over my old 401k from my first job, should have just rolled it over into my new 401k, but you live and learn), and I'm slowly building up my regular trading account.

I have to agree with some of the previous posts. Everyone should have a basic understanding of the way the financial system in the US works. However, I also feel that people should be held accountable on their own. I have plenty of friends who didn't have the advantage of a knowledgeable father to teach them the basics. But they are as well off as I am now, because they took the time to pick up a few books and teach themselves some basics.

The basics of the stock market:
http://stocks.about.com/

The basics of compound interest (or long term investing):
http://stocks.about.com/od/investingstrategies/a/Longterminvest.htm

The basics of diversification:
http://stocks.about.com/od/understandingstocks/a/0606Diversifty.htm

The IRAs (Traditional vs Roth):
http://stocks.about.com/od/investing101/a/IRA031305.htm

You can find a ton of free info on the internet. If you make less than 90k/yr (single) or 110k/yr (married) you can utilize a Roth IRA. It is post tax money you put into it, but the gains never get taxed and you never get taxed when you pull it out upon retirement age, which is actually a better avenue to save than a 401k.

(/stepping down from soap box)

 

[Australian made]

You would think that our schools would offer a mandatory class on money and finance and the power of compound interest.

but nope.. we deliver kids to their 18th birthday with no idea how hard it is to pay off credit card debt when most of these kids have 19.99 APRs and charge everything.

We teach them how to spend, how to afford a $40k car when we only make $25k/year.

We make them think that credit cards are great bc you can charge $400 now and pay the minimum $25 per month.

Then we FAIL to teach them how to invest a few bucks at 18-21 years old in an IRA and retire healthy and wealthy.

Ive got a little bit of CC debt, but nothing that keeps me up at night. Ill have it paid off in a year and all of my finances are in line. I wish someone had taught me in high school how money really works. I was lucky/smart to never get in trouble, but ive seen far too many go that route.

You hit the nail on the head!! It all comes down to education. OK some people are just natural spenders and as soon as they're old enough to get a cc they go out and buy a stack of clothes then get a loan and buy a nice car and take a holiday etc but at the end of the day a lot of these problems could be solved with some simple lessons in highschool about cc's,loans,compound interest,mortgages and most importantly how to make your money work for you. How many people live comfortably for say 2 years earning $40k per year then get a pay rise of $10K and not save/invest a single penny more then they did on their 40K salary because they upgraded their car,apartment,wardrobe etc and end up no better off.

I remember my English teacher telling me how important it was to learn Shakespeare............i still to this day have never used my limited knowledge of shakeseare at all but a bit more info on property/share investment would have done me a world of good.

 

[holyintellect]

I guess it depends on your background and environment. I know people who make a lot less money than me, but already own homes, nice new cars, among other things and I can't fathom how they afford it. Until I remember that they are all up to their eyeballs in debt.

My parents from a young age taught me the value of money. Best thing my dad did was sit me down before I graduated college and teach me about compound interest, budgets, stocks, bonds, etfs, mutual funds, diversification, how to manage and balance portfolios.

I've saved more for retirement in the two years since I graduated than most people I know who are 5+ years older than me.

I drive a '97 Toyota Avalon, I live in a decent apartment, I take reasonable vacations, I buy what I want mostly. But most importantly I live WELL within my means. I don't spend frivolously. Learn the basics, they will pay off greatly later in life.

And I always, ALWAYS, pay off my credit cards every month. I've never paid anything less than the full amount every single month. Because why the hell would I want to buy something for $500 dollars now, then pay the credit card company back $900 dollars over six months? To some people that sounds fine, but to me it sounds rediculous.

Hence the reason I'm debt free, have a well stocked 401k, and good start in my Roth IRA, a sizeable regular IRA (rolled over my old 401k from my first job, should have just rolled it over into my new 401k, but you live and learn), and I'm slowly building up my regular trading account.

I have to agree with some of the previous posts. Everyone should have a basic understanding of the way the financial system in the US works. However, I also feel that people should be held accountable on their own. I have plenty of friends who didn't have the advantage of a knowledgeable father to teach them the basics. But they are as well off as I am now, because they took the time to pick up a few books and teach themselves some basics.

The basics of the stock market:
http://stocks.about.com/

The basics of compound interest (or long term investing):
http://stocks.about.com/od/investingstrategies/a/Longterminvest.htm

The basics of diversification:
http://stocks.about.com/od/understandingstocks/a/0606Diversifty.htm

The IRAs (Traditional vs Roth):
http://stocks.about.com/od/investing101/a/IRA031305.htm

You can find a ton of free info on the internet. If you make less than 90k/yr (single) or 110k/yr (married) you can utilize a Roth IRA. It is post tax money you put into it, but the gains never get taxed and you never get taxed when you pull it out upon retirement age, which is actually a better avenue to save than a 401k.

(/stepping down from soap box)

You are a wise man....I have this argument every so often with the Plant Manager where I work...he puts everything on his Discover card. Everything. Apparantly it pays cash back, and he pays it off every month. He comes out slightly ahead, but hey, its better than paying interest I guess. The problem with that, I tell him, is that 99% of people cannot or will not pay off their card every month. Thats how they get in debt. If they could, the credit card companies wouldnt make money...

holy

 

[Jayhawkk]

Hard to believe a 750 score at 21 with no positive debt. No debt can lower your score too. If you plan on making large purchases in the future with (Home, Car, loans to get your kids through college ) You need to learn to manage debt and not just keep it eliminated.

 

[bigrobbierob]

A few years ago I got into debt and got the hasseling calls.

I got myself out.

About a year and a half ago I was laid off. I got into debt again while job hunting. I'm digging out again.

I am currently in college working for a finance degree. I'm shooting for the moon...my lifes goal is to make enough people debt free that I drive credit card companies out of business.:FUfinger:


A large goal...but I'm giving it a shot! :head:

 

[Zero V]

So uh.....who here wouldn't mind pulling a fight club?

 

[Trauma1]

I guess it depends on your background and environment. I know people who make a lot less money than me, but already own homes, nice new cars, among other things and I can't fathom how they afford it. Until I remember that they are all up to their eyeballs in debt.

My parents from a young age taught me the value of money. Best thing my dad did was sit me down before I graduated college and teach me about compound interest, budgets, stocks, bonds, etfs, mutual funds, diversification, how to manage and balance portfolios.

I've saved more for retirement in the two years since I graduated than most people I know who are 5+ years older than me.

I drive a '97 Toyota Avalon, I live in a decent apartment, I take reasonable vacations, I buy what I want mostly. But most importantly I live WELL within my means. I don't spend frivolously. Learn the basics, they will pay off greatly later in life.

And I always, ALWAYS, pay off my credit cards every month. I've never paid anything less than the full amount every single month. Because why the hell would I want to buy something for $500 dollars now, then pay the credit card company back $900 dollars over six months? To some people that sounds fine, but to me it sounds rediculous.

Hence the reason I'm debt free, have a well stocked 401k, and good start in my Roth IRA, a sizeable regular IRA (rolled over my old 401k from my first job, should have just rolled it over into my new 401k, but you live and learn), and I'm slowly building up my regular trading account.

I have to agree with some of the previous posts. Everyone should have a basic understanding of the way the financial system in the US works. However, I also feel that people should be held accountable on their own. I have plenty of friends who didn't have the advantage of a knowledgeable father to teach them the basics. But they are as well off as I am now, because they took the time to pick up a few books and teach themselves some basics.

The basics of the stock market:
Stocks - The complete guide to understanding and buying and selling stocks

The basics of compound interest (or long term investing):
Long Term Investing - The benefits of long term investing explained

The basics of diversification:
Know the Two Forms of Stock Diversification - Why Stock Diversification is Important

The IRAs (Traditional vs Roth):
IRAs Offer Tax Advantaged Investing for Retirement

You can find a ton of free info on the internet. If you make less than 90k/yr (single) or 110k/yr (married) you can utilize a Roth IRA. It is post tax money you put into it, but the gains never get taxed and you never get taxed when you pull it out upon retirement age, which is actually a better avenue to save than a 401k.

(/stepping down from soap box)

My wife is definitely the financial genious in the relationship. She's saved an ungodly amount in her 401k by the age of 30.

Me on the other hand, a different story haha. I was a typical kid at 21 overall, however the one factor that sank me was i was already making really good money at that point. I liked to spend, spend, spend. Needless to say, i accrued a debt that i've finally now almost paid off. I've changed my ways completely now.

I grew to understand what debt actually was, and more importantly the actual value of a dollar overall. I think scenario's like mine when a young individual has a decent paycheck to throw around it's easy to fall victim.

I accredit my wife for changing me and making me a better person in that regard. I'm in total agreement with the Roth IRA as well man. I had a very wise guy advise me on that a few years ago. Advice i'm very glad i took.

 

[Australian made]

Not all debt is bad though. CC's yes, mortgages,margin loans not neccessarily. Dont be afraid to go into debt if you intend on paying it back and still having lots of leftovers.

 

[Zero V]

My wife is definitely the financial genious in the relationship. She's saved an ungodly amount in her 401k by the age of 30.

Me on the other hand, a different story haha. I was a typical kid at 21 overall, however the one factor that sank me was i was already making really good money at that point. I liked to spend, spend, spend. Needless to say, i accrued a debt that i've finally now almost paid off. I've changed my ways completely now.

I grew to understand what debt actually was, and more importantly the actual value of a dollar overall. I think scenario's like mine when a young individual has a decent paycheck to throw around it's easy to fall victim.

I accredit my wife for changing me and making me a better person in that regard. I'm in total agreement with the Roth IRA as well man. I had a very wise guy advise me on that a few years ago. Advice i'm very glad i took.

that's what I am missing...an intelligent girl to guide me..... lol.

The more I think about it the more I realize, I am one of those guys who kinda run rapid unless there is a girl keeping me under control.....Single....so.....booyah!

I am actually afraid to date with debt. I don't want anyone else to pay for my mistakes......its my cross to bare, not any one else's.

 

[Palo Alto Labs]

that's what I am missing...an intelligent girl to guide me..... lol.

The more I think about it the more I realize, I am one of those guys who kinda run rapid unless there is a girl keeping me under control.....Single....so.....booyah!

I am actually afraid to date with debt. I don't want anyone else to pay for my mistakes......its my cross to bare, not any one else's.

I Will Teach You To Be Rich: Personal finance and entrepreneurship tips from a Stanford graduate

this guy is kinda biased (isnt everyone), but anywho, he has great articles about stepping back and looking at your finances and how to invest.

another good site to check out is Free Personal Finance Software, Online Money Management, Budget Planner and Financial Planning | Mint.com
its uploads all of your financial info from your bank and CC's and organizes it and labels it. shows you your spending patters and whether or not you made or lost money in the past month.
REALLY good way to take a look at the big picture and see where you are REALLY spending your money. I was over-estimating my monthly cost of food and under-estimating my monthly cost on gas...
only downfall is that it only imports your electronic transactions...so anything you pay with cash will not show up, but you can organize bank withdrawals and categorize them. I use debit card for everything (I hate cash) which is great bc i know im seeing 99% of my transactions in 1 place.

Do NOT be one of those people who dont know how much they made vs spent each month. thats a disaster. its all about balance, knowledge, and the ability to accept your financial faults.

 

[Trauma1]

that's what I am missing...an intelligent girl to guide me..... lol.

The more I think about it the more I realize, I am one of those guys who kinda run rapid unless there is a girl keeping me under control.....Single....so.....booyah!

I am actually afraid to date with debt. I don't want anyone else to pay for my mistakes......its my cross to bare, not any one else's.

Lol, i used to think that way until i met my wife. While you created the debt yourself, there is no shame in working together in eliminating the issue all together.

A Relationship/Marriage is about unity and working together through the situations that life presents at times (and there are many different scenario's to be faced.) It's team work at its finest. My wife has always been my crutch when i've needed her, and i do the same for her in that regard.

She's better with money, but i'm MUCH better organized in other facets of the relationship.

 

[Zero V]

I Will Teach You To Be Rich: Personal finance and entrepreneurship tips from a Stanford graduate

this guy is kinda biased (isnt everyone), but anywho, he has great articles about stepping back and looking at your finances and how to invest.

another good site to check out is Free Personal Finance Software, Online Money Management, Budget Planner and Financial Planning | Mint.com
its uploads all of your financial info from your bank and CC's and organizes it and labels it. shows you your spending patters and whether or not you made or lost money in the past month.
REALLY good way to take a look at the big picture and see where you are REALLY spending your money. I was over-estimating my monthly cost of food and under-estimating my monthly cost on gas...
only downfall is that it only imports your electronic transactions...so anything you pay with cash will not show up, but you can organize bank withdrawals and categorize them. I use debit card for everything (I hate cash) which is great bc i know im seeing 99% of my transactions in 1 place.

Do NOT be one of those people who dont know how much they made vs spent each month. thats a disaster. its all about balance, knowledge, and the ability to accept your financial faults.

great links man, I will put em to use. I am looking into a consolodation loan this month so I have one bill. Once I get it, canceling all CC's(save for my oldest) and I will actually be paying off my car with it too, so I can drop the insurance amount. That way I have one bill and I can drop all I have into it, Goal to pay everything off in 2 years. Possible with current job? no

This is where it gets fun and why I am going into construction. I wouldn't mind the experience and knowledge I will gain from that field.

Lol, i used to think that way until i met my wife. While you created the debt yourself, there is no shame in working together in eliminating the issue all together.

A Relationship/Marriage is about unity and working together through the situations that life presents at times (and there are many different scenario's to be faced.) It's team work at its finest. My wife has always been my crutch when i've needed her, and i do the same for her in that regard.

She's better with money, but i'm MUCH better organized in other facets of the relationship.

I know, but still...cant help but feel useless. Eh I think marriage is a few years off anyways. But I guess you never know... :think:

 

[Palo Alto Labs]

great links man, I will put em to use. I am looking into a consolodation loan this month so I have one bill. Once I get it, canceling all CC's(save for my oldest) and I will actually be paying off my car with it too, so I can drop the insurance amount. That way I have one bill and I can drop all I have into it, Goal to pay everything off in 2 years. Possible with current job? no

just watch out for consolidation loans...they often offer a higher APR than your individual loans. I thought about this once, but the best offers that I would see on most consolidation were 7-10% (closer to 10), and most of my APRs are already in the 5-6's.

that website that I posted, MINT.com, has been a godsend... theres a little chart that shows debt ratio. Its cool seeing that shift from red to more and more green each month as you pay off debt. They have another chart that shows how much you've saved vs spent in the past few months. Its extremely user friendly and the first time I actually looked at all of my accounts as one big account..which is what multiple sources of debt really are.

 

[Trauma1]

just watch out for consolidation loans...they often offer a higher APR than your individual loans. I thought about this once, but the best offers that I would see on most consolidation were 7-10% (closer to 10), and most of my APRs are already in the 5-6's.

that website that I posted, MINT.com, has been a godsend... theres a little chart that shows debt ratio. Its cool seeing that shift from red to more and more green each month as you pay off debt. They have another chart that shows how much you've saved vs spent in the past few months. Its extremely user friendly and the first time I actually looked at all of my accounts as one big account..which is what multiple sources of debt really are.

That is an awesome site dave. Thanks for posting that up!

 

[Omen]

Hard to believe a 750 score at 21 with no positive debt. No debt can lower your score too. If you plan on making large purchases in the future with (Home, Car, loans to get your kids through college ) You need to learn to manage debt and not just keep it eliminated.

Never missed a payment in my life, don't apply for credit, use my credit cards every month but never use more than 20% of total credit, not one negative item on my credit report, the only thing that is "hurting" me is the age of my credit, other than that I have no issues.

I have to say though, I did have a score under 650 but I enrolled with my friend who does a credit repair program, he took off all the negative items, gave me some tips and it went up to 750.

 

[dustinhxc]

I hear ya there. I am way in debt from school loans and credit cards.

 

[Zero V]

I don't miss payments, save for cell phone I am always late on that because it doesn't go to my credit.

I am just going to write a best selling novel. Issue solved.

 

[EasyEJL]

I think I owe about 45k in credit cards, give or a take a little. its amazing how it does add up. Get into a bit of a bad spot for a while, the balances balloon and it takes forever to get them back down again. Mind you thats less than half (ok less than 1/3) of our combined income a year. I'd rather not have the debt, but it isn't killing me either.