Archive · 20 Jul 2025
Redditor Pays Off Rs 12.2 Lakh Debt in Two Years
A person on Reddit shared how they got rid of a lot of debt, about Rs 12.2 lakh, in just two years.
They did this by using a method where they paid off the smallest debts first and then used the money they saved to pay off the next ones.
They stopped using credit cards and BNPLs, keeping track of everything in a simple way.
The person was motivated to do this after a difficult time, which involved losing their job and having late payments.
Once they started paying back their debts, their credit score got better.
A Reddit user successfully eliminated Rs 12.2 lakh in debt within two years.
The user employed the debt snowball method, focusing on repaying smaller debts first.
The debt comprised various types, including credit cards and personal loans from different platforms.
The user improved their credit score by 40 points after clearing overdue payments.
To stay on track, the user minimized non-essential expenses.
- Who
- A Reddit user.
- What
- A Reddit user cleared Rs 12.2 lakh in debt using the debt snowball method.
- When
- Over a two-year period.
- Where
- N/A
- Why
- To improve their financial situation and credit score.
Debtor
Creditors
Debt Repayment Strategy
Debtor
Prioritizes paying off smaller debts first to gain momentum.
Creditors
Focuses on debts with higher interest rates first.
- Debt Amount
- Rs 12.2 lakh
- Time to Clear Debt
- 2 years
- Method Used
- Debt snowball method
- Debt Types
- Credit cards, BNPL, personal loans
- Credit Score Improvement
- 40 points