Comments on: Outstanding Debt as of Feb 2009

By: Ryan Healy

Ryan Healy — Tue, 10 Mar 2009 01:44:16 +0000

@Will – Thank you for your comment. I have published my plan to pay off debt. You can get it by opting in to my list in the top right of this blog. The report is called “Stomp Out Debt.”

Alternatively, you can click on the Case Studies category.

http://www.debtreductionformula.com/blog/category/case-studies/

Most of my posts about my personal finances are in that category.

Also, it’s important to note that I’m self-employed so my income fluctuates. That means some months I have less and some months I have more. When I have more, I’m able to pay down my debt faster.

In the beginning (which in my case was approx Nov 2007), it was a lot harder to make any progress. I originally owed $76K. Since then I’ve cut that in half, which means I’ve got more cash flow to work with.

Finally, I’ll also say that increasing your income is extremely important when paying off debt.

You don’t have to, of course, it just will take a lot longer. Probably 3-5 years. I was more interested in the 2-3 year plan. And that required me to increase my income. Since I’m self-employed, I’m in a better position to do that than most folks.

So there you have it: full disclosure. :-)

Ryan

By: Will

Will — Mon, 09 Mar 2009 23:54:06 +0000

I’m new to your blog, but I’ve been noticing every month that you say you’ve paid down your debut by X amount. Do you have an earlier blog where you discuss what your plan is to pay off that debt? It doesn’t look to me like you’re getting income above and beyond and you’re doing this on what you normally get. What’s the secret!

By: debt reduction

debt reduction — Thu, 05 Mar 2009 16:57:56 +0000

Thanks so much for the taking the time to post this information. With the economy the way it is right now with all the layoffs and more to come; government spending and deficit out of control; the continued housing slump; one wonders where to turn for help. Thank you.

By: KCLau

KCLau — Thu, 26 Feb 2009 11:52:02 +0000

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By: Ryan Healy

Ryan Healy — Thu, 19 Feb 2009 17:25:37 +0000

Hey Susan,

Thanks for the comment. I just sent you a private email.

To answer your question, yes, I do have a “system” for how I’m paying off my debt.

You can download the PDF report here:

[link provided in email]

Also, you can click on the Case Studies category on my blog to read some of my past updates on steps I took to reduce debt.

http://www.debtreductionformula.com/blog/category/case-studies/

Thanks!

Ryan