Age 19 and $20,000 in debt!

i know someone just like this: 20 years old but his debt is in the thirty thousands. youth beware!

Indebted servitude or legalized slavery-call it what you want. For too many kids, the military, banks & colleges own your ass fresh out of high school knowing you have minimal real world experience-particularly in responsible credit card usage, long term commitments with loans & the consequences of ones financial actions.

These powerful institutions figure the sooner they get you hooked, the longer you're indebted to them. BEWARE- Purchase with care! These are soulless corporations that exist for 1 reason only & that is to make as much money off of you for as long as possible. Try not to let them get you into a position where they basically own you & you end up working just to pay off debt forever, which will suck. When in doubt, go without.

I feel your pain & many other people's pain about this... this is the lie that our parents & big companies sold to us. Not only that but the education system is overpriced for what you get... except for some trades & some high tech & healthcare fields there is no money for you when you get your degree so you cannot pay it back (at least not for ten years or so)... this is financial slavery in my opinion. This can only be possible within the system of ignorance that our parents & the education system has kept us in.

I was thrust into debt my first year in college even though i didnt even know what i wanted to do as a career. Its all the pressure to have a 'great life'... but what does that even mean when you are not taught to think for yourself? At least you know what you want to do with your life... just stay connected to that!! :)

I was at once in debt, and basically the first step I did, Is I consolidated this Debt. The Credit Card interest is a lot higher than a loan. The best to do is to actually consolidate all these Debts and then ask for this money as a loan and LITERALLY cut those Credit cards.

If you think you are $20.000 just because that is the real amount, well, think again, this is more like $43000.

I would recommend you to take a look here. Even everyone.

http://www.investopedia.com/articles/01/061301.asp

Dear Logan,

Marry me, Live for free. But just because I'm already married, I will show you:

http://consumerist.com/5059687/reader-pays-off-14330-in-20-months-with-our-tips

I have never had debt but my mother has. Shame the system is designed to keep it that way.

I'm very fortunate to have no debt, but I have been there. I honestly feel for you guys stuck in debt and being harassed by creditors. It's a shame that credit is unavoidable these days.

I have collectors calling me threating legal action all the time.

It is a pain, and I just hope I can make sure my son never ends up in this kind of situation.

You'll make it! Keep your head up girl!

Thanks for coming out and tell us the truth. I was in debt once in my life and after getting rid of all my debt one night I got in my knees and look upon the stars of the Universe and I promised myself that I rather die or be homeless and hit the streets before getting myself in that situation again. Oh yes, there were harassment from all directions. Some idiots think they have some type of entitlement over you just because you owe them money. By the way I think education and health care should be subsidized by the the corporations and the government. That it is just an investment to them. Hang in there and never feel fear. Just keep doing what you are doing and forget about it. You will get over it!

We have created an entire economy based on debt, and the dollar has not been backed by precious metals since 1971.

So... we have a service based economy backed by credit which is backed by nothing.

And for the first time in American history, the next generation will be worse off than the previous one.

We do not need bailouts, we need a real, honest plan with real, honest fixes. I feel sorry for these people. What sort of world will they pass on to their children?

Welcome to the world. I'm 25 and I'me almost $40k in debt because of college

Me and my wife will be about $70,000 in debt after we graduate next spring... I feel her pain. It's almost an unbearable feeling sometimes, like a huge burden you can't really fix without hitting the jackpot or slaving away for the rest of your life to pay it back along with the interest on your mortgage..

I feel for her. I am in a similar situation. Unfortunately, I don't hold much hope of those peaceful days to come she speaks of. I hope she can find them.