I have a few min, just wanted to say THANKS again for all the support and congrats to the others I have read that have dealt or are dealing with some other simialar situations and finding ways to make it through, even though I am not done with this it keeps getting easier and now I have a new perspective on my finances and where every dollar goes, and been working around the clock to meet my obligations, has definitley been a huge life lesson and harder than I thought when I first realized I was in a huge finacial mess, and to anyone who thinks they can't be put in a scenario like this does not realize how easy having 10's of thousands if not a couple hundred thousands of credit which I had, Can be very easy to mismanage and wind themselves into a mountain of debt, like I did and so many others have. So I also have a new perspective and enlightment on this can happen to many. I was always great with my credit up to me starting a business, which is why I had such huge credit lines, thinking to myself how can anyone get themselves like that. WELL I DID.
Also to point out I exasperated my problem from my original credit debt business wise and once I realized I had started a circus in my business and did not have any control or idea what I was doing I shut down, and went to an 11hr an job and realized I could not make my min payments to my creditors as well as still pay living expenses, so stupidley I opened more credit lines to well over 200k in set limits and 3 cards with no defined limits at 25yrs old, to just start transferring balances around to never miss any payments while not solving my problem but just blowing it up to an even bigger one. I also think back that I should have been living like I am now right away with nothing to my name, not that I ever had much but now living on an air mat with 2 suitcases of luggage brings a new light to living on nothing, but again does not bother me much as I have lived in my car before taking bird baths at walmart working 4 jobs at once and been in even worse places, coming from having no family and group homes, and maybe I should have applied for housing assitance or food stamps but my pride would not let me. LIVE AND LEARN, but I got myself here and now I won't stop till I'm done.
I also can see how my debt of about 112k plus starting which was a mountain, could be someone elses debt of only 25-30k but they have 4 kids and are single and are only making 40k a year. Its all perspective, but as others say most have or would have filed BK, that I believe is last means, because if I went into my whole story I could type 100pages but I just want to share my short story left all the depression I have suffered out since a youth and my struggle which a lot I have deleted. All I can say is try first before as so many are quick to give up.
I also know how hard being in this situation is as it sucks all this money I make has someone elses name on it, which has pissed me off, once I finally did what I had to, to get jobs paying me really great money, I hate seeing it all go to someone else (creditors). It definetley sucks when I work 65-85 hrs plus a week not counting school to just to give all this money to someone else.
All my debt is consumer CC debt which is the worse, average APR was 21percent but some 27 percent, I never use to pay attention to APR because I always paid my cards in full and only used for little things before all this
If anyone is interested how I found that I am getting out of this is I called all my creditors some I have had for 10yrs but told them I needed my interest rate reduced, some worked with me reducing my intrest, the others I went through a debt managment plan which got my creditors to reduce their rate. Cap One was at 27 percent and they went to 1.9,. I could not do this if my interest was not reduced, because now most of all my payment goes to the principal. Up or down fall, is I cancelled all my credit accounts or they suspended them for me temp. I only rely on what I make and have no safety net, but most are just temporary or will be reopen, once I finish this. but the ones closed all report closed by consumer. I don't care I still have plenty of credit history and installement loans, and some of my accounts are still open just suspended temp. At the end of the day I am a lot happier knowing I don't need credit to rely on now. I get my a$$ up and work everyday for so long most days and nights, because I have to finish this.
And Yes all still report as pay as agreed, still not a missed payment, my credit score is back in the mid 750's from the 500's again only from credit utiliztion, my debt has gone down so much. I don't expect many to be able to live like I am, as someone posted told me I could not sustain my lifestyle with nothing, eating ramen, but they don't know me, and yes another down fall I have not had relationship for awhile now, as I am embarressed, would not ever bring a woman into my situation or any other person into my debt.
This is my life, but again I live a nonexistent life right now, and I realize that after all this I will have prolly paid well over 200k with interest but it was my debt and my life, If I live to be 31 Ill be debt free maybe even sooner and I proved so many wrong in my entire life circumstances like many times before, I have tried so hard, but made mistakes like everyone and can't go back but only forward, I only like to progress and this is what I have chosen at this point to finish this, I can't quit, but who knows what life really is?
