Michigan Couple Honored for Paying off $ 92000 Credit Card Debt
News from Fox Business:

The U.S. government can learn a lot about shedding debt from Jerry and Sue Bailey.

The Jackson, Mich., couple paid off $ 92,000 in credit card debt in 5-1/2 years. “I still can’t believe it when I hear the amount. I don’t wish this on anybody,” Sue Bailey says.

The couple’s massive debt reduction earned them the Clients of the Year award from the National Foundation for Credit Counseling, a nonprofit association of credit counseling agencies that help consumers manage their finances and get out of debt. The winners were announced this week at the group’s annual meeting in San Francisco.

17 credit cards
How did the Baileys end up in such a predicament? From 1992 to 2005, they ran up bills on 17 different credit cards. During that time, they paid for two weddings for their daughters (at a cost of $ 5,000 each), replaced the transmission in their car when it blew out, made numerous repairs on their home and replaced the roof when it started to l…………… continues on Fox Business
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