Love help: Time frame to eliminate debt? - Help.com



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Time frame to eliminate debt?

I’m in love with someone who has a lot of debt (we’re talking triple digits here - over $100,000). We want to be together so badly but we have to wait until his debt is taken care of. I know nothing about this stuff so perhaps my question is silly, but can anyone tell me about how long it will take for him to clear his debt? He’s hoping in 2-3 years, but I don’t think that’s possible.

This open post was written 2 months, 2 weeks ago | V/U/S: 101, 4, 3 | Edit Post | Leave a reply | Report Post


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c-eek offline Verified User (1 year, 7 months) Long Term User Shouts: 15 #
An Undisclosed Location | 2 months, 2 weeks ago (21 minutes after post)

How long it takes to pay off the debt depends on how much he is willing and able to pay the lender. How in the world did he manage to get so deeply in debt?

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vivzofwale offline Verified User (1 year, 1 month) Long Term User Shouts: 5 #
An Unknown Location | 2 months, 2 weeks ago (23 minutes after post)

wow, ok. clearing debts isn’t that simple. even when you know the total debt amount. how much is he making a month? what is his monthly expenses? what is the interest rate? how much is his current savings? many factors come in before you can actually answer that question.:)

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Help me with: need help figuring myself out..
Anonymous #
2 months, 2 weeks ago (26 minutes after post)

He’s retired; I have no idea about his monthly expenses and interest and all that stuff. I know he pays groceries once a week (not sure how much). Sorry, I’m not much help. I just want to be with him more than anything. He’s trying to talk to an adviser.

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c-eek offline Verified User (1 year, 7 months) Long Term User Shouts: 15 #
An Undisclosed Location | 2 months, 2 weeks ago (34 minutes after post)

vivzofwale wrote:
wow, ok. clearing debts isn’t that simple. even when you know the total debt amount. how much is he making a month? what is his monthly expenses? what is the interest rate? how much is his current savings? many factors come in before you can actually answer that question.:)

Yes, all that and more. There is the important matter of motivation, too. It would help to know how he racked up the debt in the first place. If I were involved with the man, I would need to understand his relationship with money. Money problems are the biggest source of conflict for most couples.

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