I was in 20000$ credit card debt & close to 40000$ in student loan 1 year & 3 months ago. Just press the button for last 3000$ payment for American Express card. I am free today and feeling like i own the world …
**What a excitement.. i don’t know what to write… **
Congratulation Firenze 
Re: I achieved it
yeah that's great, man. Good for you.
Re: I achieved it
congratulations debt free Firenze.. :k: lets give us all a massive treat.
Congratulations. Indeed a great achievement.
Very recently I'd found myself in a wierd situation where every bank of mine is reducing my credit limit to my minimum balance. But I'm taking it as a blessing in disguise and will try to pay them all as soon as possible. Just pray for me too
Re: I achieved it
Congratulations
Abhi khushi tu khutum honey do bahi jaan :D…
It happened with me in start of last year, when my American Express & Discover limits were slash to 10000 & 11250 respectively.
Let me tell you how i achieve this biiiiggg goal,
Halted all my private web-based projects
Slash morning breakfast virtually to none. Now its my habit i only take coffee in the morning … but still starbucks 
Made a rule of only one dinner a month outside, no movies ! (Save hundreds)
No more applying for credit, don’t even open credit offers. Simply send them in junk. Call your credit companies and ask them to slash interest rate, and they do.
Halt recurring payments like gym, sports club, web-based subscription
Most important make a written plan with small goals, lets say you wanna slash just 1000$ a month, write down how you get this money. yeh yeh , still write it down even its 100$.
Thank You 
Shukria Bro
Indeed its a party time…:aliyish1: so where is the party? ..i will be their.. on time 
Abhi khushi tu khutum honey do bahi jaan :D...
dang.. well it was worth a try. :D
Re: I achieved it
bah one of my banks closed my credit card because I had not used it in over a year, good riddance I suppose , horrible service, patrhetic rates, no points..why should I use em.
but being one of my older cards ofcourse it has an impact on my credit rating..morons
bah one of my banks closed my credit card because I had not used it in over a year, good riddance I suppose , horrible service, patrhetic rates, no points..why should I use em.
but being one of my older cards ofcourse it has an impact on my credit rating..morons
Bro is leya start making a habbit of using credit cards instead of debit card if you can pay the balance every month. Other wise... after a year .... when they will see no activity they will closed down..and score will be also in free fall...
What i do .. keep revolving my cards in wallet ..so every month their is some activity on all the cards..... i think its a good way to keeping the excellent credit !
Re: I achieved it
Firenze, congratulations. That is a great achievement indeed. I bet you are a young person and practicing such organized habits are awesome. Congratulations again.
This is a great thread. Why don't you elaborate point number 6 for us all. Thanks.
Congrats!!!
This is an important thread. I am a firm believer in no loans, buy only stuff that you have real money for. It’s hard doing that, especially buying a house and stuff- but it’s possible. My parents did it (and inshallah I plan to the same)- and it’s really a PIECE OF MIND!!!
Not to mention that interest, just like alcohol, is haraam!
Also don’t waste money on stupid stuff, like a lexus or mercedes- the point of cars is to take you from A to B, and a Honda does that just fine. Or like 10 bedroom house when you only have three people in you family-- It’s like Allah gave you money, and your wasting it when there are SOOOOO MANYYYYYYY people that are don’t even food to eat and eat out of the trash can. I’m not saying that you should live Buddha, but honestly - some people make me just cringe at the way they waste their money. When ALlah blesses you with money, you have the responsibility to use it in a way you please ALlah!!!
Okay, I know i sound like a Memon now, but I’m not- I’m just really passionate about this topic because I think it’s very very important.
Also please check out this website:
www.globalrichlist.com ----> you will be surprised at how rich you are. you put in your salary, and it tells u where you rank compared to the rest of the world!!
I’m so happy for you firenze.
Bro is leya start making a habbit of using credit cards instead of debit card if you can pay the balance every month. Other wise... after a year .... when they will see no activity they will closed down..and score will be also in free fall...
What i do .. keep revolving my cards in wallet ..so every month their is some activity on all the cards..... i think its a good way to keeping the excellent credit !
yeah thats what i usually do, but that company I was so sick of I just did not want any binid going to them and would have closed it myself eventually. impact on credit score is temporary anyways.
Re: I achieved it
congrats Janab:@:
shukar hai i dont use em:)
1) On a sheet of paper write down the name of each creditor, total amount, monthly payment, and interest rate.
Example:
http://www.jeffhake.com/JNTCompany/images/sheet10-DebtSnowball.gif
**2) **Prioritize Your Creditors - Rank your debt in order from highest to lowest according to interest rate. This is the order you’ll repay your debts.
3) How much can you pay? - Total your income from all reliable sources including wages, bonuses, or dividends. Then, subtract what you spend each month on required expenses, those items you need for survival. Required expenses include mortgage or rent, utilities, food, transportation, medical expenses, and your current debt payments. This calculation will result in your disposable income. With your disposable income in mind, you can figure out how much you’re able spend to repay your debt each month. Knowing your obligations are already taken care of, think about how much extra money you’ll spend during the month. Subtract this from your disposable income to figure out how much you can spend on your debt.
**4) **Lets make the plan now - Now we know that how much you will be spending to pay off your debt, you can complete your plan. Put all of your debt-spending money towards your highest priority debt. This will either be your smallest debt or the debt with the highest interest rate, depending on the method you choose. Pay this amount plus the minimum payment every month until the debt has been completely repaid. Continue making the minimum payments on your other debts. Once you’ve paid off the first debt, combine the minimum payment from that debt with the extra amount you’ve allocated for repaying your debts and put it towards the debt with the next highest interest rate. Repeat this process until your debts have been completely repaid.
5) Rejoice & give a lavish party !
I use mint.com for money management. Its easy, simple , secure & free. Recommended to everyone !
Re: I achieved it
Firenze, thanks for sharing. Many years ago when we graduated from univ., we went through a similar situation and did pretty much what you did.
40-50 years ago ?? 
congrats Janab:@:
shukar hai i dont use em:)
Thank you janab :@:
Well in America we can't live with out it. No other choice !
