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Valued Member
Posts: 55
Registered: ‎04-11-2009
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How much credit card debt do you have?

I sometimes feel over whelmed. I just got done school shopping for two teens so I haven't had any extra money to throw towards paying down my credit cards. Smiley Sad

 

I have right around $3,000 and some days i swear it feels like $30,000. My husband maybe has like $10,000 in credit card debt.

 

What's it feel like when it is all paid off? I don't know if I will ever see that day. Do we have the average amount of debt?

 

-Just curious in Minnesota

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Posts: 17,409
Registered: ‎07-14-2009
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Re: How much credit card debt do you have?


cattracks wrote:

I sometimes feel over whelmed. I just got done school shopping for two teens so I haven't had any extra money to throw towards paying down my credit cards. Smiley Sad

 

I have right around $3,000 and some days i swear it feels like $30,000. My husband maybe has like $10,000 in credit card debt.

 

What's it feel like when it is all paid off? I don't know if I will ever see that day. Do we have the average amount of debt?

 

-Just curious in Minnesota


I don't know what is considered "average" amount of debt these days. Heck I've had more tha $13,000 on ONE card in the past. Smiley Sad It can be frustrating but getting out of CC debt can be done. It took me many years because of ignorance about debt management and sticking my head in the sand. I wish I had found these forums and others a long time ago but that's the way it goes.

 

If you keep reading posts here and follow good advice and be determined to pay all that off then you will. Just remember that often times life gets in the way of our plans for debt reduction. (Such as shopping for two teens!)  Keep at it.

 

How does it feel to be CC debt free? I just found out this month. It feels GREAT!!! I hope someday you will experience the same feeling. Good luck to you.

 

 

(myfico)
7/09        8/09
TU-742
EQ-779   783

 

CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

Member
Posts: 13
Registered: ‎08-18-2009
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Re: How much credit card debt do you have?

Yeah it's definitely hard. I wish I would have been smarter about my financials, I would have been in a house already. Instead I'm renting because of it. I'm $25,000 in debt myself and it seems to never end. Just recently I've been paying off my smaller credit card accounts and smaller checking accounts that I've owed from like two years ago. It's not easy especially when you barely get enough to get by after paying rent. I figure after enough saving and paying off my debt it will only get better.

 

My problem was letting people who I thought were my friends barrow, barrow and barrow and not pay me back take advantage of me. I finally put a stop to that because I was becoming broke myself. So I'm tredging at it, I want all of this paid off because I want to have a house by the age of 30. I guess time will see how well I'll do when paying all this off. It's not easy. that's for sure. I'm definitely being smarter about spending my money, that's for sure!!!

Established Member
Posts: 23
Registered: ‎08-07-2009
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Re: How much credit card debt do you have?

[ Edited ]

I'm about $3,600 in debt, down from about $9,000 in January. I'm forkin over $800 a month to my CCs. When the economy took a dive last November it just scared me. I got laid off in 2004 which is definitely, glaringly obvious in my CR Smiley Happy

 

So having been through it once I'm getting smart. I could not support myself with my current CC debt should I get laid off again. I'm a believer in the popular idea that you should have at least 6 months of savings banked away to weather storms and this particular person has no savings  Smiley Wink

 

I really really really want a new car though Smiley Happy

 

 

Message Edited by hisfrogness on 08-19-2009 11:06 PM
Regular Contributor
Posts: 236
Registered: ‎01-18-2009
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Re: How much credit card debt do you have?


cattracks wrote:

I sometimes feel over whelmed. I just got done school shopping for two teens so I haven't had any extra money to throw towards paying down my credit cards. Smiley Sad

 

I have right around $3,000 and some days i swear it feels like $30,000. My husband maybe has like $10,000 in credit card debt.

 

What's it feel like when it is all paid off? I don't know if I will ever see that day. Do we have the average amount of debt?

 

-Just curious in Minnesota


There are many of us who have been in your shoes.  Just remember there is a light at the end of the tunnel.

Filed BK 07/07/15 Discharged 10/07/15
Starting scores 11/2015 EQ 567 TU 487 EX 531
Current scores 02/2017 EQ 649, TU 642, EX 651

Cap 1 QS 5000 Cap 1 QS 6500, PenFed Promise 2500, NFCU GoRewards 8000 NFCU CLOC 4000
In the garden until 2018
New Contributor
Posts: 60
Registered: ‎07-06-2009
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Re: How much credit card debt do you have?

My finacee and I currently have a combined $8,200 in cc debt.  I am an authorized user on her accounts, and I am planning to have them all PIF by the end of December.  That's going to be a bit of a sacrifice, but by doing that, we will have control over our utilization and our Tax refunds won't be going to paying cc bills.  It's really hard becasue I've spent that last 4 years paying off debt, I just got a great raise and I really want to buy things.  But it will be worth it in a few months when we get to see our money going to savings and someone will be paying US interest Smiley Very Happy

Valued Member
Posts: 40
Registered: ‎07-30-2009
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Re: How much credit card debt do you have?

Honestly, I have way too much in CC debt...but...I try and keep focusing on I have way less in CC debt today than I did even 6 weeks ago.  I'm obsessed with looking at the Debt Reduction calculator on the CNN Money website.  I usually hate how quickly time flies by (like this summer), but I'm excited at how every 4 weeks, it brings me that much closer to paying off a card.  In 8 months, I'm going to be able to pay 2 cards in full.  And then by April 2011, I should be 100% out of CC debt.

There are times that I get caught up in "but that's such a long time away", but I'm trying to stay focused on the little goals of paying off 1 card at a time.  In January, I'm going to be able to say "I'll be out of CC debt next year".

 

I can't wait until the money I've been spending on CC debt is actually able to be used in other ways, like home improvements, my husband and son, etc.

 

What annoys me the most about my CC debt is how selfish it is - all the shopping and eating out and who knows what else.  I can't even remember 90% of what I PURCHASED, and I'm still paying for it!

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Posts: 5,747
Registered: ‎10-06-2007
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Re: How much credit card debt do you have?

[ Edited ]

cattracks wrote:

I sometimes feel over whelmed. I just got done school shopping for two teens so I haven't had any extra money to throw towards paying down my credit cards. Smiley Sad


I have 0 CC debt.  Almost 7 years ago it was well over 70k.  You can get out out debt even if it takes as long as it took me.  Use a Debt Snowball approach where you pay minimum payments on all but the account that has the smallest balance and throw any extra money into it until it is PIF.  Then go to the next smallest balance and so on,

 

As you PIF each account, you will gain momentum and it wont seem as bad as when you first started.  You can do it!

Message Edited by marty56 on 08-21-2009 04:53 AM
06/10/2017 FICO: EQ 781 TU 787 EX 785
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Posts: 335
Registered: ‎01-09-2009
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Re: How much credit card debt do you have?

+1

I've done, and am currently doing the same thing. And just to clarify, as you pay off the smaller debts, keep adding the same amount you were paying on them PLUS the minimum that you were paying already and watch those debts disappear! I'm currently around $14,000 in debt and paying $1,200 to $2,000 per month to get rid of them. Biggest victory was paying off that student loan in May of 2007!! With that one, I just started paying $100 a month, I believe, and added $50 every 6 months until it was paid off. If you have large balances, you may even consider an allotment or auto-pay. You won't even miss it.

TU: 556 12/12/08 ~ EQ: 509 12/12/08 ~ EX: 509 12/12/08
TU: 588 8/7/09 ~ EQ: 529 7/30/09 ~ EX - ?? (509 12/12/08)
TU: 619 9/01/09 ~ EQ: 608 9/01/09 ~ EX - ?? (640 FAKO 9/01/09)
TU: 626 9/30/09 ~ EQ: 624 9/30/09 ~ EX - ?? (640 FAKO 9/01/09)
TU: 659 10/7/09 LO PULL EQ: 624 10/7/09 LO PULL EX: 659 10/7/09 LO PULL
Established Member
Posts: 22
Registered: ‎12-21-2007
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Re: How much credit card debt do you have?

My current CC balance is just over $113,000.  The people who have been on here awhile will probably remember that at one time it was over $185,000.  I just keep plugging away.

 

I pulled my CR yesterday and my EQ is up to 638!   In 4/2008 it was 471.

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