Comments: Yes, You Can Erase 15 Years of Debt in 14 Months; I'm Doing It
Of all the comments that are left here at Free Money Finance, I like the ones that contain personal testimonies the best. Here's one given in response to my post on Yes, You Can Erase 15 Years of Debt in 14 Months:
I am 40 and paying off $12,649 of credit cards. It used to be $30,000. I realized one day I couldn't continue on this way. I regret the amount of money I wasted. However I do not benefit presently on regretting the past but look forward to my future. In 2 years (hopefully sooner I have 2 kids) I will be out of debt. I am teaching my children my lessons - that is my gift. Credit cards are evil! An excellent website I found was www.crownfinancial.com. It gives advice on debt from a Christian perspective. It gave me hope and that made all the difference.
Congratulations! Keep up the great work!
Yes, getting out of debt is difficult, but it can be done. And believe me, it feels GREAT to owe nothing!
Free Money Finance recommends Emigrant Direct.
I do not believe that credit cards are evil. I just regret that most high schools do not have a basic required (or even elective) class on how to manage their credit rating and keep out of credit card debt, when it is most needed. That, or as part of a freshman seminar in college.
Posted by: Blaine Moore (Run to Win) | December 28, 2005 at 03:24 PM
I also do not think credit cards are evil if used properly. However, I can clearly understand the commentor's perspective.
With discipline, credit cards can be a great tool in one's quest to reduce debt, save for retirement, etc. For example, I am currently using a major grocery store credit card that gives me points that end up in free groceries. With discipline (i.e. not spending money you do not have and paying off the balance every month) I am able to use my card for purchases on things I would normally buy and getting what works out to be almost a month's worth of free groceries a year for our family of four. Not bad!
Dan
Posted by: Dan Skiendziel | December 28, 2005 at 05:02 PM
Wow, that's a good deal, Dan. I do not think any of my local grocery stores do anything like that.
Posted by: Blaine Moore (Run to Win) | December 28, 2005 at 05:08 PM
The Carnival of Debt Reduction #17 is now live at pfadvice. Thank you for your contribution!
Posted by: pfadvice | January 09, 2006 at 12:48 AM
Education is the key. Credit is not any more evil than money is. Both are tools. Leveraged correctly they can be very useful.
Don't close off all your credit cards. You may want to get a mortgage one day. A challenge without a credit history.
Posted by: John W | August 21, 2006 at 02:00 PM