The Biggest Losers (of Debt): How a Family Shed $106,000 in Debt


	The Biggest Losers (of Debt): How a Family Shed $106,000 in Debt

Antara

9-20-2009 9:48 AM

270 views

tags:

freedom, paying off debt, living frugally, thrift, honesty, integrity

Antara says:

Congrats to the Hildebrandt Family! See the full story @ source

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b31ab72b-0566-4063-ae7c-d18685844ab2/7974A2F0-B9EB-4389-A116-AF1A48E96A44/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035" href="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035" style="font-size: 11px;">customsites.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035"><P>Five years ago, the Hildebrandt family of New Richmond, Wis., was juggling more than $100,000 in credit card and personal debt. Through frugality, determination and hard work, they are now -- other than a mortgage -- debt-free.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035"><P>At the time, Russell and Kandy Hildebrandts' credit card balances totaled about $89,000, and they owed $17,000 to a family member. While they were current on all the payments, the card companies had begun raising their interest rates, adding hundreds to their minimum monthly payments. Kandy acknowledges that they presented a higher credit risk, given how their balances had ballooned. Even so, with the bump in the required payments, covering the monthly payments was a struggle. "We had to change," Kandy says.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035">Change they did. For their debt-fighting prowess, the Hildebrandts were on Tuesday night named the winners of the Professional Achievement and Counseling Excellence (PACE)  2009 Graduate Client of the Year Award.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://customsites.yahoo.com/financiallyfit/finance/article-107752-2691-0-how-one-family-shed-106000-in-debt?ywaad=ad0035"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/customsites.yahoo.com/img/3F94B6D4-93FE-4253-8134-2B2AFC25229F" alt="hildebrandts-1.jpg" /></div></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7974A2F0-B9EB-4389-A116-AF1A48E96A44/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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