Huge credit card debt

[Anonymous]

Hello, everyone, I recently deleted all my post because I got to feeling like I was posting too much into my life,  but don't think I have gone anywhere, I have just realized I can do this on my own, but it was great for all the encouragement and negativity, specially BM3 who said to stop kidding myself. and others such as Saveninvest, or Whattickawhat, or tacoply, with lots of encouragement as well as many others. but its not even an issue anymore I am now down to 87k from 112 and 110 when I started a post about being this much in debt, I am not finished yet, but as I thought BK was not gonna be my option, still living on bare minimums but don't care, and working/grinding everyday.

I will post again when down to my next set point and when finished with this but just didn't want anyone thinking I had given up because its not going to happen.

Just realized how much of my life I am turning over to strangers and how much I have changed my life, 

thanks and good luck to anyone else in what was my dreaded situation can always pm me.

[OmarR]

I haven't read any of your previous posts, but it sounds from this one that you are heavy in debt.

Yeah, some of the posters can be easy on you and some can be harsh. Don't let that get to you. If you are drowning in debt, and you tell us that you "needed" to purchase that new 82" 4K Sony TV,  than, yes, some boot camp drill instructors will be coming out to respond.

Most of us have been there. I know I have. And sometimes you need an outside perspective and an uninvested opinion to tell you that you are spending on a lot of "wants" and not "needs". But hang in there. Keep posting. 

[FlaDude]

Good for you and keep on plugging at it. My debt was over 75k about 3 years ago, and is now about 1/2 of that. I have a plan to be fully paid off in about 2 more years. Two major factors have made this work. 1) a fairly substantial raise after not having one for years. 2) refinancing to a combination of low interest loans and 0% balance transfer credit cards. Going from paying almost $1000/mo interest to about $100 has made a huge difference in how fast debt can be paid off.

[Save-n-Invest]

Hey, bdub1234, good to see you! Your posts are always a welcome addition to my daily reads. We really do care about you. Post what you feel is appropriate when it works for you. Get that steak dinner once in a while too. You deserve it!

I look forward to your next post. You made my day.

[Aim_High]

I haven't read your posts either but great job and hang in there!! 

My finances are in much better shape now but I spent about 12-15 years lugging around some massive five-figure debts that began in the middle of a huge career readjustment.  It wasn't fivolous spending, just trying to keep our heads afloat for a family of five and taking over a 50% paycut for several years followed by kids in college and other expenses.  I can't tell you how many times I rolled balances over between my cards on 0% financing offers before I was finally able to pay it all down without going through BK. 

I know it seems dark at times, but just know that you are not alone and paying it off can be done.  It just takes time and perserverance.  BK has to be the option for some people but if you can avoid it you'll be so much better off. 

[tacpoly]

Wow! You’ve paid down over $20k of cc debt just since April!?! Each month you’re getting closer to 0. You can definitely do this.

Maybe you can start setting aside some money for savings — even if it’s as small $100 per month. I think seeing savings grow is as much a motivation as seeing debt shrink.

[Anonymous]

I’ll admit when OP started posting his story and plan, I was one of the skeptics that advocated BK so he didn’t ruin his health trying to sustain a schedule like this. I still do worry that health issues may become an issue at some point, but facts are facts - OP is kicking @$$ at this and proving to us all that huge debt can be taken down with reasonable income.

My hat’s off to ya man - you’re doing an awesome job at bringing this down. And I agree with the comments on starting a savings and grabbing a steak dinner here and there!

[LakeLife]

Congrats on all of your hard work, and I know how tough it can be.  I actually consulted with a BC attorney in 2011 while living in California, because I was drowning in debt with no end in site after a divorce and career change.  After learning about Chapter 13 I decided to work hard at paying down debt and living a very minimal existence.  Like others in this thread, I also made good financial decisions that reduced the amount of interest I was paying each month which made paying down debt so much easier. 

Encouragement is great, but also sometimes a little tough love is good when asking for advice.  Keep it up, because now you know you can.  

[Anonymous]

WOW! Thanks to all encoruagement from everyone and @Anonymous, funny this debt is the Devil lol but yes paid over 20k off this debt since April, about 23k to be exact while counting down, so many cards I have eliminated the debt completly and been rolling over those extra payments to the next debt, but debt is always going down as I make payments as little as $6 when I can, I am to determined to win this battle and beat this with to much HEART and DETERMINATION for me to ever give up, I am a fighter and will never just roll over and die as long as I am here, as I stated in my old post I am like the Terminator or Rocky I don't give up or stop, as I read I am not the only one in such debt and I know it sounds crazy to pay off such a huge debt, which is unfathomable to lots,  but its your life and this is MY LIFE and I don't care if anyone ever believes me about paying this off, and living on an air mat with just a couple suitcases of luggage to my name, Nothing to lose but face and my integrity in my case, most would say and told me BK is the option on here, but as I posted those are to important to me never missing a payment in my life on my own ethics and morals, I am not finished yet but I know I will finish this its like a game of Risk or War to me, and it is and can be done. but again this is not that easy but just not the hardest thing I have encountered in my life, I am about to be 29, and have started noticing a gray hair or 2 in my beard stubble now lol, just character building to me, I have made it through lots of adversary in my life being an under dog, but I don't quit. I make the best of my situational circumstances.

Without going to much into my personal life this has helped me in many ways, got my life back on track from where I screwed up being younger, thinking starting a business was smart on credit, and got me focused I have my associates degree now in Individual Studies now working towards bachelor in Business Admin, don't know if I will ever use but still a good back up plan, I have failed and accomplished so much in my life, including where I am now making good income and overcame so many other things in my life, and continue to push on.

As I have been told by Bk attorneys even my creditors and my banks, I am making good progress and I had a plan to deal with this, which I am and most don't. I just felt Doomed at some point and felt like leaving this world or consciousness but then stopped feeling sorry for my self and woke up and decided like my whole life so far this is on me and me only and I had to figure out what I needed to do to get out of this dark hole and make any adjustments or sacrafices. May not make a difference at the end of the day as one poster told me no one gets out alive as I could be gone tomorrow, again this is my life and story and what I am doing, Several of my creditors when speaking with them asked "how on earth have or don't know how I managed 26-27 different revolving accounts especially at my age.

Remedy:   So far I have been able to do this while increasing my income, and cutting all expenses not needed, I have added supplemental income such as me working other side jobs cleaning porta johns, cutting grass, moving furiture, cleaning apts and houses, cleaning gutters , been getting bank bonuses, donating plasma,  doing small surveys,  and all other small jobs I can fit into my schedule while still working and going to school full time.

I also talked to my creditors about half worked with me after talking with me to reduce my interest significantly,  the others I went through a DMP plan to where my interest was reduced to that 2-8 percent, some have kept my accounts open just based on me paying off current debt, I have kept an eye on my credit reports, as I was told by creditors everyting  still reports as payed as agreed,  no negative reports on my report. I will have this paid off in next yr or 2 maybe even 3 as I like to be pessimistic as I never know what life will through at me next, but as many have told me it will past in no time, and I can move on to a new chapter in my life.

At this point I do have a few thousand saved up for emergencies, I only use my plasma card for purchases as my budget, and a $100 I pull out a month.

I hope I can inspire anyone else to not give up, as it is truley your own life and you make it what you want, I screwed up but will fix my mistakes and move on, but again I felt hopless at some point and thought about ending my life purposely, but stay strong, as again it will pass whatever bad situation you are in, no matter what path you take,  and hopefully my post will encourage you.  Again my journey is not done but will post when I get to the next set point I want to be at.

Thanks again to everyone that has follwed my story and all encouragement.

[Aim_High]

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@Anonymous wrote: 
"WOW! Thanks to all encouragement from everyone ...I am to determined to win this battle and beat this with too much HEART and DETERMINATION for me to ever give up, I am a fighter  ... Nothing to lose but face and my integrity in my case, ... never missing a payment in my life on my own ethics and morals, ... just character building to me, ... I make the best of my situational circumstances.

 ...I am making good progress and I had a plan to deal with this, which I am and most don't. ... I have added supplemental income such as me working other side jobs ...   while still working and going to school full time.  I also talked to my creditors about half worked with me after talking with me to reduce my interest significantly,  the others I went through a DMP plan to where my interest was reduced to that 2-8 percent, some have kept my accounts open just based on me paying off current debt ... At this point I do have a few thousand saved up for emergencies.

 ...stay strong, as again it will pass whatever bad situation you are in."

Great post, @Anonymous .  It's obvious that you're going to make it!  I like your spirit, regardless of whether we are talking about credit or other life circumstances because your posting went way beyond talking about credit card debt.  I highlighted some of your best points above.   From having emergency savings to working directly and honestly with your lenders to working extra jobs to make extra money, you're absolutely doing everything right about how to approach this and it's a model and example for others.  Keep up the good work!  

You also talked about the honor and integrity about repaying your debts and that was important to me too.  I wanted to pay what I owed and feel that sometimes people give up too quickly and take the easy route through bankruptcy.  While it may be perfectly legal and there are definitely times where it is appropriate and necessary, I didn't want to do that if there was any way I could repay it from a standpoint of personal honor.  That's not the man my daddy raised me to be.  I didn't want bankruptcy to be part of my story.  I also knew it would follow me for at least seven years on my credit report, and on this forum, I've also read about people getting blacklisted for decades if not permanently after "burning" some big banks. 

Definitely keep us informed about your progress and we look forward to hearing when you have completed your plan!  That will be an exciting day!