I did it! - and How I did it

10 years ago

I had posted here long ago about my debt problems. Through a lot of foolishness of my own doing, I found myself in 2005 unemployed, married, with thirty thousand in credit card debt spread over 5 credit card companies. I had kept my debt a secret from my loving husband, it was horrible trying to explain it to him. But he forgave me and still loves me. I began the process of digging out. I first consulted a lawyer who recommended filing bankruptcy, but I didn't want to do it. I just wasn't brought up that way. You owe someone, you pay them. I went online and found a debt advice service, for a small fee they provided calculators showing me how to pay off the CC's. (I don't want to advertise- but the name of the company rhymes with "Meck the fax" debt wise). I had to write each company, ask what's the smallest monthly payment they would accept, then started making regular monthly payments. At one point, I fell behind in payments and even got served with a Lien. But I begged the companies to allow me to continue making the monthly payments. It was hard, but I managed to make every single payment on time after that. It was actually "fun" like a game watching my balances go down. First Discover was paid off, then Macys, and so on. This March I sent in my final check for $571 to the last of the 5 companies. I am now debt free! I am NOT asking for praise. I'm just telling you my story. I got into a real mess , but I was able to climb out of that hell hole. I am now advising my twenty-something daughters not to take out credit cards, unless it's for convenience only and you pay back in full each month, I learned my lesson the hard way.

Comments (10)

maifleur01
10 years ago
Good for you. Too many take the easy way and do bankruptcy. Now start putting what you have been paying each month into some sort of savings account for later. But first give yourself and your husband a splurge. Something you can look at and remember the good feeling you had sending that last check.
sweet_betsy No AL Z7
10 years ago
You deserve some praise for paying what you owe instead of taking the easy out. You have my admiration.
emma
10 years ago
Sometimes I think people will never change because it is often a difficult up hill battle, but you did and you deserve praise. Congratulations and since you know how hard it was to do, you'll never go there again. LOL
wantoretire_did
10 years ago
I remember when you first posted about it. Good for you and your persiverence and "stick-to it-iveness"as my mom used to call it.
jannie
Original Author
10 years ago
Thanks for the pats on the back. I'm now putting all that "extra" money into an emergency savings account. It's always something...Our back fence fell down this winter, so it's nice to know I have a little bit of breathing room.
KBSpider
9 years ago
I read your story and was glad you posted follow-ups so folks would know how you were doing. I am SO happy that you've finally reached your goal! I know you got yourself in this spot (I've been there myself!), but you should be VERY proud of yourself for sticking with it AND not taking the easy way out like so many do. Bravo!

Oh, and while it's smart to keep putting the extra money away, I agree with the poster who said to splurge a little to celebrate!!
Mayaa
9 years ago
At the end it is nice to see your story jannie, the only way to be respectful is to manage your expensive according to your income that is the thing advice by Holy Prophet (PBUH) in his narrations..... be careful and enjoy your life
nancylouise5me
9 years ago
Great job on paying back what was owed and getting out of debt! Very happy to read you did it the right way and did not declare Bankruptcy. It must have been very hard, but you did it! You should be extremely proud of yourself. Thanks for coming back and letting us know the end results. NancyLouise
sherwoodva
9 years ago
Congratulations, Jannie! You have a lot of discipline and a very loving husband. I'm glad you are "out from under" the debt and able to give your daughters good advice.
MrsShayne
9 years ago
I was just reading your original post and wondering if you followed through and you did! Great job! The relief and excitement of being debt free must feel amazing. Pat yourself on the back, seriously. You deserve it.

I'm in my late twenties and have been in and out of debt a couple times now. I too started a plan to get debt free (wrote everything down, started debt stacking) and I'm down to one card (zero interest) and it will be paid off by December.

WhooHoo!