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Huge Credit Card Debt

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Established Member

Re: Huge Credit Card Debt update

@Save-N-Invest, No doubt I am gonna finish this, I swear its not that hard lol depending on what one is use to.,  with most thinking its impossible while I am paying off and down cards with 21-27percent interest,  I don't care, someone posted no one can live like that,  I could live in antartica if I had to, I live in my car for long time and foster care and on dirt and sand for months, I don't mind anything anymore, and have mindset to overcome, and defeat.   

Thanks

Message 81 of 104
Established Member

Re: Huge Credit Card Debt update

@Save N Invest,  I already looked at all my cards I need to make about 3800 in payments a month to pay off in 3yrs, not a problem I am already making and much faster as I grind everyday, all day forced myself to make this type of income and get up just knowing its another challenge,  not a problem, and I plan on doing this in 3 years or less, I am telling you I swear I do not stop,  when a problem arises I face it straight on, I am Rocky against Clubber, "you aint so bad" you aint nothin. I just get angry because no one can defeat me lol.  I promise everyone reading I will pay this off, and defeat what all the odds, in a short couple of years.

 

Thanks for your encouragment

Message 82 of 104
Regular Contributor

Re: Huge Credit Card Debt update

if you can't get a better job than $11hr or have your business be successful, you have no reason to try and convince anyone including yourself that you can pay this 110k. Creditors have formulas. In those formulas a certain % of people fail to pay. They expect this.

 

Get past this so you can stop freaking out, then use this situation as fuel to find the right business and work hard at it to become successful, and then if you feel it would help, pay back those creditors who never forget (like amex).

Message 83 of 104
Established Member

Re: Huge Credit Card Debt update

I didnt say I couldn't get a better paying job than $11 an hour I said I probally wouldn't have due to no obligation or pressure for me and this experience has pushed to greater heights to and so what I failed at one company, plenty do, and rebound. you can fail 100 itmes only need to suceed once, sounds like every other hater I have met just because they couldn't do something they like to put down others for trying.

 

Sorry but if my post really intiated you to say stop joking myself and if I couldn't do this or that, no way I can do this then you prolly have your own problems you should be more focused on you.

Message 84 of 104
Established Member

Re: Huge Credit Card Debt update

@Bm3 again I just glanced through your post you can't pay off 15k but yet I have already done 10k in the last 4 months, keep being sorry and putting others down if thats what makes you feel better.

 

thanks again more fuel on the fire to rub in your face when Im done and you are still stuck continuing burning creditors and probally anyone else in your life that is nice enough to loan you anything.

Message 85 of 104
Established Member

Re: Huge Credit Card Debt update

@BM3, I came on here to get real advice and I appreciate everyones even the one's that are skeptical on my plan and think I should do otherwise, but don't tell me stop joking myself as I am very serious, I have a good sense of humor and am optimistic but I am working very hard and maybe if you tried half as hard you could have never burnt creditors yourself,  I never said one thing on here to demean anyone or their situation, such as stop joking myself, and if "I COULDN"T EVEN DO THAT" as if I am a complete failure.

Message 86 of 104
Moderator

Re: Huge Credit Card Debt update

Friendly reminder ... all posts must be Friendly, Supportive and Respectful.  I do not want to lock this thread, but I will if comments do not remain FSR.  Thanks for understanding.

Message 87 of 104
Valued Member

Re: Huge Credit Card Debt update


@bdub1234 wrote:

@BM3, I came on here to get real advice and I appreciate everyones even the one's that are skeptical on my plan and think I should do otherwise, but don't tell me stop joking myself as I am very serious, I have a good sense of humor and am optimistic but I am working very hard and maybe if you tried half as hard you could have never burnt creditors yourself,  I never said one thing on here to demean anyone or their situation, such as stop joking myself, and if "I COULDN"T EVEN DO THAT" as if I am a complete failure.


I admire your tenacity, your goal-setting, your focus, and energy.  Good luck to you.  It doesn't change the fact that I agree with others.  I have never filed bankruptcy.   But your debt is crushing, beyond crushing.  If you approached bankruptcy with the right mindset, then you are using it for the right reasons.  As others called it, as a reset, but after coming out the other end, learning from it and focused on the right things:  fianancial stability.  If you filed a Chapter 7 and then kept working as hard as you are, what you could channel your energy and focus on is becoming financially stable and, more than that, growing wealth.  I don't mean wealth in the sense of a millionaire.  I mean wealth in the sense that you are setting yourself up to make your money work for you, to save for a down payment for a home in an interest-bearing account, to have a retirement plan set up and start contributing, to invest in money market funds, CDs.    In other words, you have a second chance and are using that second chance in the right way.

 

Even if you accomplish what you say you are, and I, unfortunately, don't think you can,  you will be at the end of a long road with nothing as far as financial security.   You aren't listening to cold, hard facts.    I'm a common sense kind of person.  Looking at your financial situation, I see what others on here see.

 

  I wish you would go to a financial planner,  who deals with debt management, for a consult and lay everything out and have them really give you much needed profressional guidance.

 

I don't think anyone wants you to fail.  It's just being pragmatic and offering you solid advice and just generally being the voice of reason.  You don't want any opposing input regarding your plan, period.  I think everyone gets that now.    

 

Good luck.

Message 88 of 104
Valued Contributor

Re: Huge Credit Card Debt update

I agree. ^

After all, how long can someone maintain apositive attuitude under such massive debt? At some point it will take its toll on you mentally and physically. What happens if you become unable to work, there goes any chance of paying it back with added medical costs. 

 

Good luck to you though, and hope that it works out in your favor.

 

 

Message 89 of 104
Frequent Contributor

Re: Huge Credit Card Debt update

I read through the posts.  If I understand correctly (admittedly OP's writing style is difficult to follow), OP has gotten himself into a better situation, income-wise, at work and is supplementing this with several side hustles so that he is now netting $4,000 - 7,000 a month with minimal living expenses.  In addition, he has been given the option of high single-digit APR (cc's remain open) or very low single-digit APR (cc's will be closed) by his creditors.  It seems to me that paying off his sizeable debt is not outside the realm of possibilities. 

 

Yes, bankruptcy is certainly the easier way out and many have advocated for it as the smarter way out.  But it is clear OP has chosen to chip away at the debt and no amount sermonizing will dissuade him at this point.  So I don't understand why people keep insisting that he will fail and that he should just file bankruptcy.  Frankly I've never seen so much outright negativity towards someone who seems to have made progress against the debt in such a short time.  

 

OP, I think it is commendable that you've decided to pay off your debt and that you have used this as motivation to advance your career.  But don't put blinders on -- you should constantly evaluate whether what you are doing is good for you in toto and be prepared to change your mind and directions if you need to.  Good luck!

Message 90 of 104