Posted on 08/02/2019 8:47:35 AM PDT by qwerty1234
Jonathan Guzman and Mayra Finol earn about $130,000 a year, combined, in technology jobs. Though that is more than double the median, debt from their years at St. John’s University in New York has been hard to overcome.
The two 28-year-olds in West Hartford, Conn., have about $51,000 in student debt, plus $18,000 in auto loans and $50,000 across eight credit cards. Adding financial pressure are a baby daughter and a mortgage of around $270,000.
(Excerpt) Read more at msn.com ...
Anyone doubt for a second that as soon as the student debt is forgiven, people like this will simply run up the same amount on their credit cards and then start demanding we write off that debt too?
You just can't fix stupid.
My daughter graduated from 4 year college last may with $26K in debt (we paid for 80+% of her her college education but wanted her to have skin in the game), just over 1 year later she has cut that balance in half (at my encouraging) and is hoping to have it all paid off before she starts grad school in another year, which she will pay for.
Choose wisely.
Part of a never-ending media drumbeat setting the stage for student loans to be forgiven that will run from now until the election.
They are going to maximize the potential this has to lure Millenials off the couch to go and vote Democrat.
I agree. These people do not know how to cut back and live within their means. There are times I have gone to what I call defcon1 and lived on the minimum to get by.
I think it’s even simpler than that.
The only parties who can forgive this debt are those who made the loans.
Why should I bail out a mortgage holder, credit card company, or school? They are profiting by taking a risk. They don’t share their profits with the taxpayers.
on the DemoRat Plantation where you are free to never leave.
50,000 across eight credit cards.
WTF?
I have 5 university degrees - all in what would be called the Humanities or Liberal Arts and I finished with ZERO debt.
Don't feel sorry for them in the least. They dug this hole; they need to get themselves out of it. $50K on credit cards is just plain stupid. They need a good kick in the pants from Dave Ramsey.
Um, West Hartford is one of the wealthiest towns in Connecticut, with high cost of living and property taxes. This, in a state with already high — and rapidly increasing — income taxes. Why not MOVE???
Exactly. And some of the worst offenders are colleges and universities with huge endowments selling nearly worthless degrees and collecting sky high tuition.
50k in credit card debt?????
Are they house poor, buying a house they really could not afford to service the mortgage for?
Ade we supposed to feel the are victims? Victims of circumstances beyond their control, as opposed to having made poor choices, financial and otherwise?
The 50k credit card debt didn’t just happen one month. It accumulated over time. Did they ever stop to think what was going on, when the debt was 10 or 15K, and wonder how to fix that problem before it exploded to where it is today?
EXACTLY!
The article says she hasn’t used her TJ Maxx card in over a year. So she made some progress..,.......
They made stupid choices. Hard-working taxpayers should not pay for their extravagance.
If they have Equity in their House, sell it and pay off their Bills or get a Cash Out Refinance.
30 Year Mortgage Rates are below 4%, it’s cheap money and they can write off the Interest.
If they have New Car Payments, sell the Cars and buy something used that they can afford.
All these sob stories make me ill. We have had high Credit Card Debt in our younger years and have always paid them off.
That's a self-evident proposition!
Meh, I’ve owed way more than that a few times..however it’s generally been really low rate or zero Interest and allowed me to make an investment elsewhere or buy time on a deal I was working
...by getting our nation deeper in debt. This article is agitprop.
I admit I tried to do that for a decade. I finally grabbed hold of what we were doing and said ENOUGH. Went on a tough budget: no new cars, no two week overseas vacations, no larger home (on credit of course). Now, no debt, no payment worries and I feel like I gave us a 15% raise over night as we pay no interest. Life is good. Now when someone passes me by with their leased or recently paid for 50K+ car I laugh as I negotiate along on my ten yo car knowing if I wanted that car, I just go down to the credit union, get a draft and pay for it. Thanks, but I’d rather have the money till the wheels fall off.
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