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 Posted: Tue Aug 26, 2008 12:59 pm Subject: My very first PIF!!!!! |
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I'm in the process of regaining control of my debt. My husband and I have almost $200,000 worth of student loans (thats our combined student loan debt for 5 years of college EACH). We have a $159,000 mortgage. No active credit cards. Pretty much everything but the mortgage is in collections.
We were young and stupid. We over-borrowed and then when we graduated couldn't get jobs in our chosen fields. I lost my job last year and have been searching ever since and my husband makes decent money. We also get a trust fund check every month that pays for some of the bills.
My first PIF isn't a big one. It was an verizon phone debt. As of Thursday morning it will be paid in full. I'm so excited. Even if it is just one tiny little debt, its a start.
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anc526
Joined: 18 Aug 2008
Posts: 102
Debtcc Points: 1288
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Shazzers
Moderator
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| Posted: Tue Aug 26, 2008 1:14 pm Subject: |
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Great job. Keep at it and slowly settle each debt one by one as you save a little money.
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DOLLARSandSINCE
Debt Samaritan
Joined: 11 May 2007
Posts: 879
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| Posted: Tue Aug 26, 2008 1:35 pm Subject: |
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I'm trying my best. Unfortunately 90% of our loans are in collections. And they want $500 a month each. When the original payment was only $200 a month. So I'm still working on that. Every cent of my is going to mortgage/grocery/gas/utilities/bills/etc. I haven't been to a movie or bought something nice for myself in a long time. lol.
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anc526
Joined: 18 Aug 2008
Posts: 102
Debtcc Points: 1288
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| Posted: Tue Aug 26, 2008 1:43 pm Subject: |
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Yeah I feel your pain at least to the point that most of my money coming in is going back out to bills. I am lucky that I don't have much debt other than the house and a 9k debt car but my wife has been out of work for about 9 months now so that is really making things tight. We do very little for entertainment unless it is free. I haven't been to a restaurant or the movies in months.
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DOLLARSandSINCE
Debt Samaritan
Joined: 11 May 2007
Posts: 879
Debtcc Points: 11017
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| Posted: Tue Aug 26, 2008 1:46 pm Subject: |
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Oh, I know. I'm dying to go see a movie, or go to a fancy restaurant. But I just keep telling myself. If I can pay these debts off, then I can afford a happy retirement, and maybe pay for college for my kids (assuming we have kids).
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anc526
Joined: 18 Aug 2008
Posts: 102
Debtcc Points: 1288
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| Posted: Tue Aug 26, 2008 1:56 pm Subject: |
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My wife's parents just moved in with us this past month to help with the bills so hopefully that will free up a bit of my money to pay off the small CC debt I have and maybe settle some of her old debt and then start working on the car. Also she is still looking for work so hopefully she gets something soon.
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DOLLARSandSINCE
Debt Samaritan
Joined: 11 May 2007
Posts: 879
Debtcc Points: 11017
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| Posted: Tue Aug 26, 2008 6:53 pm Subject: |
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That should be nice. My parents are too young to move in with us. We are only 24. My mom is 44.
My mother-in-law is in her 60's, but I doubt she would help even if she did move in. She really hates me for some reason.
So we are on our own as far as paying of the debt goes.
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anc526
Joined: 18 Aug 2008
Posts: 102
Debtcc Points: 1288
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| Posted: Wed Aug 27, 2008 6:34 am Subject: |
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Congratulations...Take each bill one at a time, you will have them all knocked in no time
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bdouble
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