Can we get out of our debts?

I hate debts and as for now, I do not owe anyone any amount. I think to be debt free requires discipline, proper budgeting and planning. If you decided to be in debt, then it is usually very important to have a proper plan of how you will repay your money. I believe everyone can be able to get out of debt through discipline and working hard to find extra cash to repay the debt.

Hi Deo! How are you? I guess the answer on how we can ever get out of debts is try to look for other sources of income. life is so hard yet enjoyable. There are many companies that offer a sideline for selling stuff but it just isnt my talent.

I can certainly relate, as I have quite a bit of debt as well. It is very frustrating. It's not easy to have to deal with. But I do think that you can get out of debt. It's not something that is easy, but I do believe that it is possible. So long as you budget your money right, and make a budget that is reasonable, then I'm sure that you will be able to manage it.

Absolutely NOT!!! There are too many Factors that can wipe out all the People living Paycheck to Paycheck and just ONE Illness can wipe out a Perfect Credit History and drain a nice Savings Account. If you are lucky, wealthy or never have Health Issues, sure I can see it being possible.

I think it is possible get out of debt - but it does take a great amount of discipline and productiveness. In my 20's I had a huge credit card debt simply because I was stupid with my money - what can I say. I did go on a debt management program - but I did so after much research. My adviser there figured out my budget to a "T" and I had to pay X amount every month - while still being able to live within my means. Of course I was not allowed to use any credit cards - so I could only use the money I had . . . and thank goodness because I learned to live without having to pull out the card. Also, I came into the program at the right time . . . they had an offer where if I took X amount of classes (which were free) by a certain date, I wouldn't have to pay any monthly fees to this place . . . and so I did. I got the whole thing paid off in about 4 years. It felt GREAT to have that finally off my shoulders. You can actually do all that without having to go through any institution - but it helped me greatly. I didn't have to negotiate with any credit card companies (which can sometimes be hard to do because you know they will fight it) - it was already pre-negotiated with that institution I went with. And like I said, I didn't have to pay anything extra to that institution - on top of getting free class options. But I did have to keep my end of the deal to get that payment in on time - or else I'd be in big trouble. I'd have to say my experience was rather pain free in getting rid of the debt - I was lucky. BUT, then again there are people like my parent in laws. They have been in debt for years . . . and now finally they are getting a taste of having to face severe consequences. Most likely they will lose everything now . . . and there is literally no way of resolving things at this point. They have made terrible financial decisions their whole lives - besides overspending, they can't even seem to balance a checkbook! They have been warned - and the family has tried to help them with budgeting - but they never, ever exercised financial discipline! They are 80ish years old - and I am certain they will never get out of their debt - as sad as that sounds.

Well firstly let me just commend you sir, because you got into debt for a good cause...to help your mother out and I find that admirable, I really do. Thankfully alot of my debts have been minimized, and my major debts include a mortgage, car loan and credit card, so I've opted to cut back on alot of my expenses, entertainment because in addition to wanting to clear off my loans, I've to go into further debt for home maintainenace. The truth is my friend, I believe we must all get into debt in order to accomplish things we can't ordinarily do. There's good debt and bad debt as far as I've assessed. Good debt is the one you CAN "afford and control" without being submerged so much into it that you can't see your way at the end of the day, and well bad debt is the complete opposite. Can we get out of debts, we certainly can, but at some point we'll certainly get back into it,but as aforementioned once it's managable, you're good to go.

Not knowing your situation completely, it's hard to say with no reservations, but I think that most people can get out of debt. It's not easy and you will have to give up some things. First, think about the money you spend - even the little things. The little things add up fast, so try to cut out everything that you can and put that money toward your debt. Concentrate on paying off one debt completely while paying the minimum on the rest, then when one is paid off, go to the next one. You will make it if you are determined.

I think that the only way is trying to have just a little more income than expenses :) I wish you that everything can work out for you :)

I think I am one of those lucky people who doesn't have a debt yet. So I really cannot say whether I can get myself out of debts or even how long I can get out of one. I wish that if ever I would have to borrow money, it would be so that I can use the money to buy myself assets that would pay the debt itself too. As much as possible, I do not want to have any debts in my life. I've seen how it can destroy the life of one person and it's something very sad...

I would love to get out of debt immediately, because it was like a burden on my shoulder, and it keep on haunting me every month. I still doing my best every month to pay off this debt my friend scammed on me. I am struggling, and struggling hard on it. I just wish that I can make some extra money on my own, and hopefully pay it off as soon as possible.

Oh yes, debt can be fought well and can be eliminated. That is if we truly focus on eradicating it as fast as we can to free us from the pressures it bring. Like millions of people around the world, I am in debt right now. I had a problem about managing money so I had that debt. I am now slowly paying it off and I hope that I will have the discipline to put off all other areas of borrowing money to pay first my debts or else, I will be stressed out.