Internet's first get-out-of-debt community - 128,000 members

Posted: Sun Sep 09, 2007 9:58 pm Subject: Are you debt free?

Well, I got a personal loan for 5 years,and I'm going
to consolidate all my debts and buy a new car. My goal is to be debt free and stay away from the tentation of credit cards. I think is best to live within your means instead of above your means. What do you guys think? Are you guys planning on becoming debt free too?

Posted: Mon Sep 10, 2007 3:27 am Subject:

How can you be debt free and buy a new car at the same time. Alot of used cars are better than the new ones and will be paid off years sooner. Now you also have a new loan, that is not debt free even though you used it to pay off other things. A debt consolidaton program would of put you out of debt without getting a new loan to do it and a used car would have been paid off at the same time. So, in about 2-3 years you could of been out of debt with a good used car, now you are in debt with a new loan and maybe a new car for about 5-6 years, so you tell me was your ideal a good one?

all the best,
Luke

Posted: Mon Sep 10, 2007 6:08 pm Subject:

I agree with Luke, how can you be debt free when you just bought a new car? Aren't you making payments on that when, like Luke stated you should have bought a used one. Of course all of us here want to be debt free. don't you want to be debt free also?

ladybug

Posted: Mon Sep 10, 2007 7:03 pm Subject: reply

Let's see. A 5 year personal loan. A new car loan will be approximately 5 years. So......... in 5 years this person might be debt free. And, to the question, do we want to be debt free? Well, I would imagine so since that is why we are all members of this site. Huh. Debt free - 5 year loan and new car. Doesn't add up to me...........

Posted: Tue Sep 11, 2007 5:01 am Subject:

I agree with everyone else. How in the world can you claim to be debt free, if you just took out a 5 year loan for a new car. I assume most of us will be debt free well before you are.

Posted: Tue Sep 11, 2007 6:39 am Subject:

We are planning to become debt free and never plan to have another credit card again. Shouldn't be a problem after we settle! No one will want to give us one and that is fine with us. We are tired of the oppression of living like this and are finally going to do something about it.

Posted: Sun Sep 16, 2007 8:37 pm Subject:

Posted: Sun Sep 16, 2007 8:39 pm Subject: reply

Well, honey, it sounds as though you have a "game plan". I do hope it works out for you. The key words in your post are "you don't plan on taking out any other loans". I hope everything works out for you and life is good!

Posted: Sun Sep 16, 2007 9:52 pm Subject:

domain-I think we all plan to be debt free or as damn close as we can come to it.

I am confused..so you are consolidating and buying a new car with the proceeds from this 5 yr loan? I saw the part about not having to worry since the payment "..comes out of your account" but you do have steady income right?

Posted: Mon Sep 17, 2007 5:51 pm Subject:

You can never be debt free in the type of a financial system that we live in. USA's estimated National debt: $ 9,021,660,421,703.67. The estimated population of the United States is 303,013,574
so each citizen's share of this debt is $29,773.13.

Posted: Mon Sep 17, 2007 6:05 pm Subject:

well, mine is really about 12,000 and thats it.

thanks,
Luke

Posted: Mon Sep 17, 2007 6:11 pm Subject: reply

Holy Crap! Shocked

Posted: Mon Sep 17, 2007 6:20 pm Subject: debt

Well....slowly, but surely, I'm paying off my debts. But..I DO agree with some of you.........how can someone be "debt free" if they owe payments, on a loan? A NEW car? Why not a GOOD, USED car? But,,,,does sound like you have a plan of action, for all of this. Good luck.

Posted: Tue Sep 18, 2007 3:22 am Subject:

cannr, your funny. Every time I read "holy crap" I see the Pope taking a poop.

Posted: Tue Sep 18, 2007 4:21 am Subject: reply

You're on a roll this morning, luke! Already smiling since reading your responses! Thank you! Very Happy

Posted: Tue Sep 18, 2007 5:32 am Subject:

LOL...you both wake me up!! Great way to start the morning!! When I started I had about 7K in debt...but that included all my ipdls too...in which most are now gone or paid way down...I'm waiting for my statement from my DMP to see where I stand this quarter...I am driving a car that is 9 years old but still running well...and paid for!! When I say debt free I mean it...I will do my best to pay off everything and not incur any more. I know at some point I will have to buy another car but hopefully I can put a huge down payment on a decent used one and not have to pay for soooo long!!! This is the first time in 20 years I have had a svaing account!!!!

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