@marty56 wrote:Another reason to use a plan like DR's to get out of debt is its FICO friendly. You get an extra boost in seeing your FICO score go up.
Also a plus side in talking some time to get out of debt is that it will break you of the CC debt habbit. Last week on the Suzie Orman show there was this guy who at 28, was heading to his 3rd BK and taking his retired parents down with him.
That is so awful, I feel horrible for his parents. I can't believe he didn't learn from the first one, let alone a second and third; then he has the gall to drag his parents down? Shameful.
I'm proud to say that I've learned my lesson, and will never be in this serious amount of debt ever again (By age 20, I had racked up almost $16,000 worth, very shameful), with the exception of a car or a home. I've also never asked my mother for a dime of help either, it's not her fault I got myself into this mess. I'm regretting the horrible time I'm having now watching friends who are debt free go on vacations and party like animals. Instead, I pay bills, and more bills, all while wondering, "Do you know what I could be doing with this extra $700 a month?" So yes, I know what you mean by being sick of the grind of bill paying.
Believe it or not, this board makes me see the light at the end of the tunnel, and I know I'll get there eventually; so to all of you, thank you! 
::Jumping off soap box now...::
@22_broke_and_in_debt wrote:
@marty56 wrote:Another reason to use a plan like DR's to get out of debt is its FICO friendly. You get an extra boost in seeing your FICO score go up.
Also a plus side in talking some time to get out of debt is that it will break you of the CC debt habbit. Last week on the Suzie Orman show there was this guy who at 28, was heading to his 3rd BK and taking his retired parents down with him.
That is so awful, I feel horrible for his parents. I can't believe he didn't learn from the first one, let alone a second and third; then he has the gall to drag his parents down? Shameful.
I'm proud to say that I've learned my lesson, and will never be in this serious amount of debt ever again (By age 20, I had racked up almost $16,000 worth, very shameful), with the exception of a car or a home. I've also never asked my mother for a dime of help either, it's not her fault I got myself into this mess. I'm regretting the horrible time I'm having now watching friends who are debt free go on vacations and party like animals. Instead, I pay bills, and more bills, all while wondering, "Do you know what I could be doing with this extra $700 a month?" So yes, I know what you mean by being sick of the grind of bill paying.
Believe it or not, this board makes me see the light at the end of the tunnel, and I know I'll get there eventually; so to all of you, thank you!
::Jumping off soap box now...::
Are most of your friends your age? If so they are definitely the exception if they are debt free in their early 20's. How can you know they are free of debt? There are many people (I was one of them) who live above their means and put on a false face of prosperity. In reality they may be worse off than you because they have to finance all those vacations and parties. From my experience few 20-30 year olds have the kind of income to maintain that kind of lifestyle without CC's. (Or mom and dad).
But if they can pay for all that without going into debt then good for them. Perhaps I'm just jealous??? 
7/09
TU-742
EQ-779
Time can heal all wounds and a low FICO.
@MarineVietVet wrote:Are most of your friends your age? If so they are definitely the exception if they are debt free in their early 20's. How can you know they are free of debt? There are many people (I was one of them) who live above their means and put on a false face of prosperity. In reality they may be worse off than you because they have to finance all those vacations and parties. From my experience few 20-30 year olds have the kind of income to maintain that kind of lifestyle without CC's. (Or mom and dad).
But if they can pay for all that without going into debt then good for them. Perhaps I'm just jealous???
7/09
TU-742
EQ-779
Time can heal all wounds and a low FICO.
Yes, most of my friends are my age; however, out of all of my friends, I am the only one who has financed their own education, worked a full-time job for more than a year (while attending school full time as well), and lived on my own for an extended period of time. I have several friends who make in the realm of $65-$85+k a year, and all of them had the financial backing of their parents through college and grad school, hence, no debt. They also all still live at home. There are a few, who, even though they intended on paying the loans back after they graduated, couldn't find a job (and yes, for lack of trying, which is irritating, to put it mildly...) and then their parents took pity on them and paid the loans for them so they wouldn't go into default.
Actually, after writing this, you made me realize something; which will fulfill your prophecy, so to speak. Coming from experience, I'll be shocked if they make it being debt free with that lifestyle AND living on their own in NYC...so maybe I shouldn't feel all that bad. ;-)