Comments on: Debt Free in One Year: A True Story

By: Breaking Free of the Cage: Escaping the Rat Race | Invest It Wisely

Breaking Free of the Cage: Escaping the Rat Race | Invest It Wisely — Fri, 16 Jul 2010 12:10:01 +0000

[...] Personal Finance By The Book: Debt Free in One Year: A True Story [...]

By: 42 Personal Stories of Credit Card Debt Hell | CreditScore.net

42 Personal Stories of Credit Card Debt Hell | CreditScore.net — Tue, 29 Jun 2010 17:05:09 +0000

[...] Personal Finance by the Book: Personal Finance by the Book: When this couple married they had an average income and $21,500 in debt. [...]

By: Get out of debt fast

Get out of debt fast — Wed, 16 Jun 2010 16:06:08 +0000

[...] you heard these before? Have you said them yourself? Yes, debt can be overwhelming, but setting a time goal will help you to not only stay focused but gain [...]

By: joeplemon

joeplemon — Mon, 14 Jun 2010 21:55:40 +0000

habika,
You make a good point. And yes, they were indeed liable for the charges. Both of these were old debt, and much of the $2,000 owed had been racked up with interest and late charges. One collector initiated a settlement, but then told them not to send the money until they heard back from him. Almost a year passed before they heard from him and then he balked about the settlement, but eventually agreed. The other collector agreed immediately. Again, I don’t disagree with what you said, but when all parties agree to a payment arrangement, I call it a win-win.

By: habika

habika — Mon, 14 Jun 2010 04:03:16 +0000

I find it odd that they did not pay off the entire credit card bill and instead negotiated a settlement. They made the charges so were fully liable for the payments and did (at some point during the year) have the $4000 to pay them off. Lucky for them the collectors caved. But that is why credit card companies have fees and high interest rates, because some people end up not paying the whole bill. =========================== Debt Free Seattle

By: Arthur @ FinancialBondage.org

Arthur @ FinancialBondage.org — Sat, 29 May 2010 01:50:53 +0000

Believe me, there are times when I felt like giving up… But I really want to be debt free. I think it’s been 6+ years, I lost count. As I get older, I find that Time is just moving too quickly for me to keep track of it anymore

By: joeplemon

joeplemon — Fri, 28 May 2010 18:19:11 +0000

Arthur,
I am glad that this post gives you encouragement. I am sure Jeremy and Erin would be even more glad!

By: FinancialBondage

FinancialBondage — Fri, 28 May 2010 18:02:42 +0000

thanks for the encouragement Joe. Have a safe holiday weekend.

By: How Do You Respond to Impossible Challenges?

How Do You Respond to Impossible Challenges? — Thu, 13 May 2010 15:07:43 +0000

[...] at hand? Does your good common sense ever prevent you from trying something new? Do you ever think outside the box? Do you limit what you try to what you have tried before? Are you the person who says, “I tried [...]

By: Financial Samurai

Financial Samurai — Sun, 04 Apr 2010 06:29:31 +0000

This is great it made the final Joe!
Financial Samurai´s last blog ..Riding Rocketships For Greater Success