Another who pays off every month. A couple of times carried over $5,000 or so to the next month just because of cash flow issues and paid it all the next month.

If I had a huge amount of CC debt I'd consider filing bankruptcy. A friend owed $40,000, filed for bankruptcy. It hung over her for 7 years but wasn't so bad. End of 7 years she was in good shape. Why beat yourself up?

Our credit card debt was as high as $50k. We've been working on it steadily a couple of years and it's now down to $17k. DH was laid off again last fall, but is now starting to earn some money again, so we're hoping to have all the credit cards paid off in the next 12-18 months. I can't wait!

Anonymous wrote:

Anonymous wrote:Zero. My folks were older when they had me (50 and 40) and I'm 48 now, so they lived through The Great Depression. I was taught to never get into debt.

We even own our house with no mortgage.

You're proud of this? How is this a healthy relationship to money?

Not PP, but same situation. It's healthy because if DH ever loses his job, or the car breaks down, or the baby's born early, or any of the other awful things that have happened to every other PP on this thread, we have one less thing to worry about.

I seriously question anyone who thinks carrying debt is healthy.

100 grand of zero interest for one year debt that I invested in the market.....

I probably had around 30K when I met my now-husband, although I was too scared to add them all up. I racked it up on absolutely nothing of consequence: vacations, dinners out, a computer. I also had a stint as a contractor where I was supposed to be paying quarterly taxes and never paid enough, so I had to charge my tax bill. Pretty much every dumb financial mistake there is, although I always paid on time and had pretty good credit other than the percentage of allowable credit. My husband was equally a wreck (30K) and also had a huge car note.

We paid it all off in about four years. We continued renting the same little rowhouse for three more years because the rent was so cheap. He got a better job and I got a raise; we threw every extra penny, tax refund, per diem at it. When I had to replace my car after 18 years, I got another reliable used car. He took an overseas assignment for seven months, which was tough because we were married with a baby by then, but it all went toward our bills. What made it work is that we were both on the same page 100 percent.

I still have a few credit cards but never use them. Being out from under that crushing debt is the best feeling.

Several tens of thousands when I took a year-long maternity leave and we bought a new house we needed to fix up and furnish. Did it all on no-interest promotions, including by moving it around when the promotional periods were up, and am close to paying it all off without interest now that I'm back to work. I was very thankful to have it as a tool.

I had around $2K on a card from moving expenses, looking for a job in the new location. I was right out of school, earning $15/hour, and it took a couple of years to pay it off - $50-100 each month, every extra penny I could scrape together.

We now put an average of $10K on our card every month, but pay it off every month. It's crazy for me to look at today's bills and remember how stressful that $2K was!

Anonymous wrote:And how long did it take you to pay off that debt?

I have always paid off my monthly credit bill, monthly. I use it for cash flow and so I don't have to carry around tons of cash.

$5,000. Took a couple of years to pay it off. Was back in my 20s.

$45k after my divorce.

$24k.

What made up that debt: divorce lawyer retainer, several months' rent on new apartment, contents of new apartment for DD and myself, funeral plane tickets for DD and myself and a few work expenses that were reimbursed shortly after.

I am making progress in paying it back, but not as much as I wish I was. I do have a decent sized 401k for my age as well as some non-401k investments leftover from when I was married and had a HHI triple what mine is now. I was pleased to learn recently that despite having a debt-to-income ratio that is not great, my credit is still good.

Around $1000, after buying my first computer in grad school. I paid in off in after 3-4 months, but I hated the feeling of owing that much when I was working only part time (in school full time) living off of about 10K/year. So never again.

$7 K. On 40K salary. 1 K monthly rent. Newly married, recent immigrants with few worldly possessions. Paid off in 1 year, with strict budgeting and living below our means.

Anonymous wrote:$50k max when I was 23. I was able to pay it off in 2 years by living with my parents and basically using every thing I made to pay it down. I started with the smallest balance and worked my way up.

Great job. Sensible decision to stay with yr parents. My nephew did that to save money on down payment for a house. He is in his 20s and he is financially set. I hope he continues to make good decisions.

Anonymous wrote:$25k in grad school. Paid it off in a year when I got a job.

Good job!