Men who used to struggle with lots of debt and were able to turn things around, how bad where things before you were in a stable place and what was the experience like when you finally got out of debt?

5 comments

1. Not bad. I got a couple thousand in debt in the 80’s and it SUCKED. So I dug out and stayed out. Since then the only debt I’ve had has been my house and I paid that off in 12 years. Debt is a suckers game.

2. Be me.

   Wife just died due to COVID a few days ago.

   Big decisions need to be made, funeral, burial, figure out next steps. Gonna cost a ton of money.

   Wife spent years locking me out of the accounts, get control.

   Fuck. My. Ass. Holy shit. Oh God oh God oh God.

   Her business is in deep debt.

   She had over 20 credit cards, every single one was maxed out(45k), had business loans out(5k), her business checking account was in the red(1k). My credit cards were maxed out (15k). HELOC maxed out (80k).

   I had to sell my home. Took a huge hit to pay off the HELOC. Sold my truck, sold my camper, sold all her hoarded possessions. It was fucked up, but I got out of most of the debt. Her credit cards didn’t have a scrap of my info on them, so I was able to sidestep some debt. But the HELOC and my cards had to be paid with the profits from my home sale.

   Living better now. Got a new home in Phoenix, AZ near my family. Debt free except house and car. Rebuilding my life with my two kids and my amazing girlfriend.

3. I’d say the only debt I have is huge amounts of medical debt. And that’s without insurance. I can’t say I never turned things around on it because its just completely out of my control at this point and I’m just like…ok with that honestly. It all stems from having depression and suicidal thoughts which leads me into thoes hospital stays which, didn’t do me much good. But medical debt doesn’t bother me as much as it used too. I was able to get some stuff waved off, but other hospitals were basically wanting something I didn’t even have, as I am disabled.

4. Took control. Used to always let debt and bills pile up and run late.
   After finally learning how to stand up I took initiative to detail every expected bill and expense required and work out a fortnight total.
   Then I transfer that to a second account which gets direct debited.
   I always put a lil extra in due to variances.

   All these interest hikes and cost of living has not made an impact as for the last 6 years I have always now been ahead and on top of bills.

5. I imagine they were happy?