American Morning

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November 15th, 2010
10:30 AM ET

Pay off $88,000 debt in three years? One couple did it.

Meet the Carrolls. Three years ago, they had a whopping $88,000 in debt.

Today, they're debt free.

CNN's Christine Romans talks to the Carrolls to find out how they were able to escape from this mountain of debt, and how you can, too.


Filed under: Debt • Economy • Personal Finance
soundoff (7 Responses)
  1. Barbara Everett

    I have the same question. Please someone tell us which non-profit credit counselor was able to put them on the path to financial freedom. There are so many out there it's like swimming in a shark tank.

    November 16, 2010 at 12:27 pm |
  2. TK

    this tells us nothing without knowing how much INCOME they had... lots of people can "save" $30k a year... dual income... no kids...

    good for them, but without more context, this is just a story about people who got in a bind after a job loss, and then got back out when they got the income back...

    November 16, 2010 at 11:48 am |
  3. Jim Carroll

    Mr. President, the republicans didn't win a big victory! You have the veto pen, and it takes 290 votes in the House and 67 in the Senate
    to override a veto. I know you know that, but the republicans do not know that. They have never read the Constitution!The republicans
    did not win what they think. They did not win anything. Let them shut down the Government. When 48 million people on Social Security
    retired postal workers, retired military, the many other retired government workers and the governments workers such as the Army
    don't get their pay checks, they will be ready to hang all of the republicans. If the republicans had won all 435 seats in the House, it
    would still be a hollow victory. That is why the Founding Fathers structured the Constitution the way they did.

    November 16, 2010 at 9:05 am |
  4. MeLoN

    I seen this story. Poor couple – had to give up their Broadway shows. Must have been hell having to make that major sacrifice in order to pay off the debt they ran up. Why is this even on a NEWS network? Americans don't care that they had to give up seeing plays when most Americans are struggling to pay the bills or put food on the tables.

    Typical Carol Costello story... boring and pointless.

    November 16, 2010 at 6:11 am |
  5. LeoVale

    That was the weakest report I've ever seen. Christine Romans didn't explain AT ALL how the couple paid off that debt. My guess is that they didn't "pay if off" – my guess is they had alot of it "charged off" or "settled". If a couple has the resources to pay off $88K in 3 years, there's no way their debt should have accumulated to that level.

    November 15, 2010 at 4:54 pm |
  6. John.

    I found the name of the company they used:
    Greenpath. http://www.greenpath.com/

    There is a video of this couple on the National Foundation for Credit Counseling (http://www.nfcc.org/index.cfm). At the end of this video the couple mentioned the name of Greenpath. It seems that this is a serious site. This site was mentioned at the video shown at:

    http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

    Look at the video on this article...I trust CNN for this.

    I hope this helps.

    November 15, 2010 at 3:00 pm |
  7. Jacqueline Ferguson

    Can anyone tell the rest of us which company this couple used to help them eliminate the debt. I am so ready to follow in their footsteps but do not trust all the companies in the market. Congrats to the Carrolls, job well done.

    November 15, 2010 at 1:32 pm |