How Much Debt do You Have?

[VetLegion]

Inspired by Pekka's "concept of debt" thread I just finished reading.

I'm standing with ~500 euros of debt on my current account (is that the term or is it "debit account"? It's the one I get paycheck on and withdraw funds from). The interest is 15% annually which is probably forbidden by the Bible and at least a few other holy books, unfortunately our standards WRT usury have been relaxed over the centuries

I expect to clear this debt with the next paycheck, so I'll be free. I have no other outstanding commitments like mortgage or loans or anything.

You?

[chequita guevara]

Well, between me and the wife, we owe over $60,000 in student loans. There's a lot of other debt that we got hurt with during my year and a half of unemployment, but I expect to be caught up on that next year. It's the student loans that are crippling us.

[Unspeakable Horror]

$0

[KrazyHorse]

0$

Unfortunately, that's also about the same as my net worth.

[Verto]

Also 0$. That'll probably change in the next year or so, wth student loans - I've been able to pay up front for everything so far, but I doubt that'll lost much longer.

[Aeson]

$0 as well (debt and net worth).

[Bosh]

17Kish of student loans left but all of my wife's students loans are paid off now so we can get cracking on mine now...

[Lancer]

About $5000-$6000. Somewhere in there.

[Dis]

I owe about $12000 on my house and $6000 on my car. That makes $19000 if I did my math correctly . The thing is, I currently have enough cash to pay it off, and I will do so in the next couple of months. So essentually, I have 0 debt. And i would think my assets and equity would offset that debt by a large margin anyways.

[Lancer]

Depending on the rate of the morgage and your income it might be better to keep it...though there are some heremuch more expert at such stuff I'm sure.

[Dis]

I tried to pay off my car by sending them a check for $5000. My next statement they said I didn't have to make a payment till 2008. . There was no spot to add the money to principle, so I just wrote a lump sum check. I'm not sure I like these guys (Toyota financial services), I think I prefer a real bank.

I'll have to check online and see if I can pay it off online.

[alva]

Originally posted by KrazyHorse
0$

Unfortunately, that's also about the same as my net worth.

[snoopy369]

Payoff amounts aren't always the same as principle balances, from what I recall some loans have a 'minimum' amount of interest that must be paid on them even if you paid them off a week after taking them out ...

I have, hmm, $40k or so in student loans

But it's now close to a year's salary, so that's not as bad as it felt back a year or two ago when it was over 2 years' salary.

[Ninot]

$160 to my dad, he bought me some bus passes that I have yet to pay him for.

[Rufus T. Firefly]

My wife and I have lived beyond our means ever since we got together. This got especially bad in Turkey, where we were drawing local salaries when the currency collapsed; the cost of our hard debt doubled (or our salaries were halved, whichever you prefer), but that didn't keep us from taking trips to London, Paris, Amsterdam (and Munich! Everebody's talkin' bout...pop music! God I'm old...), or renting summer places on the Aegean. Nor did all the ensuing debt keep us from taking an out-of-country vacation every 6-8 weeks in Manila.

Basically, we're the reason the US economy is doing as well as it is.

That said, we're on track to be debt-free by July, 2008 -- just a month before our daughter enters whichever toney, private, East Coast college she's going to inflict upon us.