Monthly Archive: October 2015

Hello fellow debt haters

Q: I have read through some posts and am glad I have found this place. My hubby and I are working at getting out of debt. We have listened to Dave Ramsey for a couple years and have gotten some bills paid off and cut up the credit cards so that we don’t get in further but its been slow going. For some background this is where we are right now…

  • 4800 to credit card
  • 6500 car no.1
  • 8500 car no.2
  • 9500 2nd mortgage

We aren’t behind or anything at this point, but still live basically paycheck to paycheck. I am just needing some motivation and accountability for sticking with my budget and getting more focused. Hopefully chatting with people in similar situations will help.

A: i have a question….. what’s a 2nd mortgage? is that a home equity loan?

Good luck on your debt payoff….. we aren’t behind as well..just trying to get it paid off…. not living pay check to paycheck so much but that’s because my hubby is deployed and the combat pay helps!

Q: Yep, our second mortgage is a HEL. When we moved into this house it needed alot of work. We had planned to work on it when we had the extra cash. Of course we got pregnant with baby number 3 and decided we needed new carpet right away and to pay off my dh’s truck and get a cheaper one. But after riding in that old truck for a year we decided we needed a more appropriate family vehicle (enter car payment no 2 again). It makes me kind of crazy knowing that essentially I am paying for 3 vehicles one of which was sold three years ago, carpet that is already getting worn out due to a steady flow of family traffic, and still paying for Christmas five years ago on credit cards. UGH STUPID STUPID. LOL

I am very glad to hear you plan is working so well. Its nice to start digging out of the dark hole and finally see light.

Yes and No

My cousin and her husband are a definite yes. When people are too stupid to learn from their mistakes.. yes you will end up on the same path.

On the other hand I would have to say no. Things happen. When my husband and I got married we both carried our share of debt. Then we got an awsome deal on a house We got a house that was appraised for $125000 for $104000.

I knew the people and loved the house. We kind of jumped into this one a little to early. Then we had kids with doctors bills, and then the roof on the garage needed to be reshingled, then a hot water heater, then car repairs. It was one thing after another. Then I started buying groceries on credit card because I knew we would be short. Trust me.. we didn’t get our credit card debt by buying luxury items.

I am reading a book called “The Bankruptcy Solution“. It is great information and takes you through all of the alternatives. I am looking at all my options before anyone is decided upon.