I have to concede that the DebtPayer Challenge is a failure. I thank those of you that supported the effort, but I’m pulling the plug. The moral of the story: there’s no easy way out of debt.
It’s going to take years for my wife and I to get out of debt, if we ever do. There is no easy way out and that is the cold hard truth. Let it serve as a lesson to not get in debt over your head in the first place. It’s a strain on your life, your marriage, and everything else that goes along with it.
Thanks again to everyone. I’ll keep trying to plug away at my six figure student loan debt, one day at a time.
Best,
Chris
Chris, at least you made an effort. Good on you for trying! I’m sure you will be able to pay it off in time while you guys build your law careers.
Best, Sam
Thanks everyone. We didn’t get into debt in one year and we won’t get out of it in one year. We’ve been at it a couple of years now and we just have to keep going.
Sorry to hear it didn’t go according to plan!
Sorry to hear that FPF. Keep at it and don’t give up hope. I’m sure you guys will be able to pull it off.
-MC
Sorry to hear that but at least you tried. Perhaps you can tweak the concept and get it to work and at least help your debt situation. Paying it off in a year might have been a little ambitious but even paying off an extra $10K in the next year would be a huge accomplishment! You are right that there is no easy way to get out of debt, but being willing to think outside of the box (like you did) is a step in the right direction.