How long to recover?

This question is for all the people here who've been in debt.

How long did it take you to get completely out of debt?

I think it's been a year for me and still not seeing it go away anytime soon.

Jerlene,

I have been in debt in the past over $10k and it only took me a few months to pay off. At that time I had some assets that really allowed me to speed the process up greatly.

I am actually back in debt because I am building a business and this time the debt load is upwards of 14k. I expect this to stay a bit longer of course.

What have you been doing to lower your debt load? Have you built a plan and/or budget?

My first step was to list all of my bills and expenses, list my credit cards and the balances and interest rates, mortgages, etc..

You need to first know where you are and where your money is going so you can redirect that to where it will make the greatest impact on your debt. I don't mean to sound like this is easy because it is anything but... getting out of debt is as easy as spending less than you make and putting the extra to your balances. I know this is easier said than done.

Elaborate more on your current situation without saying anything personal of course...

Wow. 10k. My mom was in for 2k. She paid it off immediately. She thought she already paid it so that's why she was in for so much.
If I was in for that much I'd pay it off and just cut all my cards up.

I think its hard to know about that. How long we can recover our debt. If you always play every month. I think its really takes a years to cover it unless you win some lottery or something you can cover all the debt.

Its all depend on you. If you have a decipline. I believe all your debt will be clear fast.

Its not a generalized question as paying of debt depends upon the amount of debt. When I take a small debt from my local society then I pay it within one month. When I took my educational debt then it took my four long years to repay it.

That would depend on the skills you got at that time, it doesn't matter if you have big or small debt. If you don't have any skills to make money then you will never pay a debt even if that is just 2K. making money is an art and we should try to give time to learn this in that way debt is manageable.

Good question, but hardly to answer :). I've contribute myself a lot in debt. Maybe another 30 years to get rid of it, hopefully. Student loan, auto loan, and coming soon the home loan. I'm working hard to pay off the debt.