Featured Discussion: Common Reasons You May Be in Debt

[55555]

not in debt

[7827]

I am a college student -- I am also on SSDI -- disability.  I am also 63 years old.  I will start working from home when I finish college in 2 years at a job that pays me quite well because of my degree -- a much better income than before Disability. And in addition, I will be able to still collect $1,050.00 in Social Security Benefits -- as I will be of retirement age when I graduate.  But I will also have student loans to pay back.  That's the reason I am in debt. Also, I am an artist Digital Media Artist  / Animator / Game Development Major who had to first study 2 years of Graphic Art & Design.  A field of study that costs a lot in supplies.  I have thousands of dollars worth of Art Supplies and equipment from my classes.  I get reimbursed by the government at tax time but only by a fraction of what I actually spent/spend each semester.  That is why I'm in debt.  In this country, --- being in debt -- it is a necessary part of being a student who wasn't born wealthy.

[TD4045]

Great info! Question: I was told if something was already listed on your credit report, to let it go and do not pay it. What are your thoughts or experience with that?

[Cybill63]

I am bi polar and although I am on meds I still go through manic stages where I shop on 

line. I don't do it because I need the stuff because most of the time I don't. I just can't stop myself. I am in debt because of it. I have maxed most of my credit cards and use my debit card until the money is gone.  I need help.

[Chrisp]

Is a debt consolidation loan better than a Debt Settlement Program or vise versa?  Which is better and why.  They both have pros & cons

[RO]

GOOD

[MontanezC]

I have gone into debt because I have not tracked or used a budget when spending my income

[Blizzyard]

Help in debt,paying off cards one at a time .Is this a good way???.Any other suggestions 

[Blizzyard]

That is everything I have started to do.IA that everything you suggest or is there more that I can do. 

[veron77]

Thank you

[veron77]

Thank you

[Adewey7141]

I would like to know what my debt is showing up on my credit report. Can you please help?

[marykthomas]

Thanks for the information..very helpful

[CW2]

School debt is my life long burden.  No other debt; only regular living expenses.  Been without credit cards for nearly 8 years.  I'm 61 and in the education field so have never had high income.  As a single parent, I put 2 kids through college and am nearly done paying off the part of that parent debt that I was responsible for.  However, my own school debt (also went back late in life) has blown up since in deferment while paying for my kids and now forbearance while I figure out how to make giant payments that are half my take home pay each month.  It is a nightmare!  I will go to my grave with this debt.  I truly question the value of a college education because the cost is high in so many more ways than just the dollars and cents of it.  It is constant stress over the loans, which started out small and have grown like monsters on steroids.

[brixoxo]

I wish it was this easy!