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      10-25-2007, 08:10 PM   #35
jtmccabe
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Drives: 2008 335i sedan
Join Date: Jan 2007
Location: Christiansburg, VA

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Credit card debt has owned me for most of my adult life. I began living above my means when I got my first card at age 18. By the time I graduated college (1998), I was about $30k in the hole. When I got a real job I lived closer to my means but couldn't overcome all the interest and minimum payments, so I sunk further into the hole. I maxed out at $60k in 2003, then tried to get out unsuccesfully until I really buckled down a year ago.

I lived like a pauper, transferred all my balances to 0% cards, and sold some stocks and stock options I had. I ordered my car so that the first payment would coincide with me getting to zero, which will happen in December with a little luck.

I had planned to actually experience being debt-free (aside from mortgage) before buying the car, but then I decided I would enjoy the car more than being debt-free. It's still massive debt, but at least I could sell the car if I had to.

Here's the ugly history (yes, I got carried away with car upgrades there at the end):
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2008 335i sedan | 6MT | Dinan S2 flash | Titanium Silver/Black leather/Burl walnut | Sport | Premium | CW| CA | Nav | HD Radio | iPod/USB | Sirius | PDC | Style 162/230 (winter/summer) | M3 steering wheel | ZHP shift knob | Blacklines | Lux 4.0 | etc.

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