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Need a Little Encouragement

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Established Member

Need a Little Encouragement

Hi, 

 

I'm turning to the community here because I need a little encouragement. Three years ago, I was $49,000 in debt, due mainly to credit card mismanagement, a motorcycling indulgence, and a misunderstanding of personal financial management. I decided to take action by ruthlessly removing excess from my life and consolidating debt where I could. To date, I've paid off $33,500 of that $49,000, and I'm less than two years away from completely ridding myself of that debt. What I'm more proud of, though, is that I've responsibly used two credit cards (down from five) responsibly for three years, paying off my entire balance each month. This progress feels deeply meaningful to me. 

 

But today I find myself a little down. I'm not sure if it's all the holiday shopping emails or just a rough time at work, but I'm feeling especiall impatient about getting rid of this last third of my debt. I can't help thinking about things like, if I'd not gotten myself into this situation, I could have saved so much money rather than making this consolidated payment each month. To that end, I could really use some lifting up today, if you can spare a little good cheer. Any words of encouragement would be so appreciated. 

 

And let me also say: I know I'm not nearly alone in this positive progress. Congrats to all of you who are walking this road as well. May you reach a resting point soon. 


Rebuild Began 9/2016
Starting Scores: EX- 665, TU- 656, EQ- 655
Current Scores: EX- 785, TU- 776, EQ- 785
Goal Score: 800 across the board
Message 1 of 9
8 REPLIES 8
Senior Contributor

Re: Need a Little Encouragement

You're right, you're definitely not alone. I got into $43k in debt due to trying to help family stay afloat using my credit cards and now I'm stuck paying it back. 5 collections and 8 charge offs later, here I am. I know how you feel. As you can see by my scores in my signature, I'm still rebuilding, and have quite a ways to go. But I've paid back about $20k of that $43k, and I'm down to 4 chargeoffs and 2 collections (one of which is paid, but still on my report). You can do it. I feel the same way that if I didn't have this mess, I could be saving a good chunk of money while still doing some holiday shopping. But within a couple of years that WILL be a reality for both of us. Keep going! Smiley Happy
Currently rebuilding as of 04/11/2019.

Starting Scores:
EX 518
EQ 518
TU 521

Current FICO scores:
EX 576
EQ 567
TU 575
Message 2 of 9
Established Member

Re: Need a Little Encouragement

I'm glad to hear you're also well on your way to getting out from under the debt. I hope your family is doing okay. Thanks for the kind words.


Rebuild Began 9/2016
Starting Scores: EX- 665, TU- 656, EQ- 655
Current Scores: EX- 785, TU- 776, EQ- 785
Goal Score: 800 across the board
Message 3 of 9
Established Member

Re: Need a Little Encouragement


@atblay wrote:

Hi, 

 

I'm turning to the community here because I need a little encouragement. Three years ago, I was $49,000 in debt, due mainly to credit card mismanagement, a motorcycling indulgence, and a misunderstanding of personal financial management. I decided to take action by ruthlessly removing excess from my life and consolidating debt where I could. To date, I've paid off $33,500 of that $49,000, and I'm less than two years away from completely ridding myself of that debt. What I'm more proud of, though, is that I've responsibly used two credit cards (down from five) responsibly for three years, paying off my entire balance each month. This progress feels deeply meaningful to me. 

 

But today I find myself a little down. I'm not sure if it's all the holiday shopping emails or just a rough time at work, but I'm feeling especiall impatient about getting rid of this last third of my debt. I can't help thinking about things like, if I'd not gotten myself into this situation, I could have saved so much money rather than making this consolidated payment each month. To that end, I could really use some lifting up today, if you can spare a little good cheer. Any words of encouragement would be so appreciated. 

 

And let me also say: I know I'm not nearly alone in this positive progress. Congrats to all of you who are walking this road as well. May you reach a resting point soon. 


You are doing really good. Infact you are in a much better position than a lot of people in this forum. Don't blame yourself for the situation. we all are there in it together. I looked at your Signature scores and they look amazing. I could only wish for such scores. Keep doing what you are doing right now, pay off slowly and set smaller targets and enjoy those Victories. All the luck to you and Happy holidays. Cheer up !!

11/10/2018 EX :540 TU : 525 EQ : 535
10/20/19 EX :671 TU: 665 EQ: 671
11/7/19 EX: 676 TU: 673 EQ: 676
Together we can come out of this mess.
Message 4 of 9
Established Member

Re: Need a Little Encouragement

Thank you so much! You'll get to those scores yourself, I have no doubt. I really appreciate your kindness! 


Rebuild Began 9/2016
Starting Scores: EX- 665, TU- 656, EQ- 655
Current Scores: EX- 785, TU- 776, EQ- 785
Goal Score: 800 across the board
Message 5 of 9
Super Contributor

Re: Need a Little Encouragement


@atblay wrote:

Hi, 

 

I'm turning to the community here because I need a little encouragement. Three years ago, I was $49,000 in debt, due mainly to credit card mismanagement, a motorcycling indulgence, and a misunderstanding of personal financial management. I decided to take action by ruthlessly removing excess from my life and consolidating debt where I could. To date, I've paid off $33,500 of that $49,000, and I'm less than two years away from completely ridding myself of that debt. What I'm more proud of, though, is that I've responsibly used two credit cards (down from five) responsibly for three years, paying off my entire balance each month. This progress feels deeply meaningful to me. 

 

But today I find myself a little down. I'm not sure if it's all the holiday shopping emails or just a rough time at work, but I'm feeling especiall impatient about getting rid of this last third of my debt. I can't help thinking about things like, if I'd not gotten myself into this situation, I could have saved so much money rather than making this consolidated payment each month. To that end, I could really use some lifting up today, if you can spare a little good cheer. Any words of encouragement would be so appreciated. 

 

And let me also say: I know I'm not nearly alone in this positive progress. Congrats to all of you who are walking this road as well. May you reach a resting point soon. 


Dont be discouraged. Repeat your sentence in your head 10 times a day. I say dayum good job tackling this debt and the determination to rid yourself from it. Tell yourself also victory is so close you can tatse it now. Once its done.  Take a weekend trip and celebrate like theres no tomorrow. Good Luck and dont stop now. Finsh line is coming into sight. Smiley Happy





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 6 of 9
Regular Contributor

Re: Need a Little Encouragement

I am channeling some good vibes your way Smiley Happy Anyhoo, you have made AWESOME progress on paying back your debt.  IMO, you are waayyy ahead of where many people who have that amount of debt would be after just three years.  And your scores reflect that...scores in the mid to high 700s ain't too shabbySmiley Wink

Message 7 of 9
Established Member

Re: Need a Little Encouragement

Thank you for your response! You have a very inspiring journey yourself. I am wowed, and I appreciate your kind response to my situation. Feeling much better this morning.

Rebuild Began 9/2016
Starting Scores: EX- 665, TU- 656, EQ- 655
Current Scores: EX- 785, TU- 776, EQ- 785
Goal Score: 800 across the board
Message 8 of 9
Established Member

Re: Need a Little Encouragement

YOU GOT THIS!!! It's so easy for us to get in debt and hard to get out. Look how far you have come. Keep your head up and keep going. You are an encouragement to others in your progress. When you feel like the holiday rush is getting you down, come back to the forum. This has help keep me from apping and spending like crazy. 

Encourage yourself daily in the great progress you have already accomplished!!


Starting Score: 572
Current Score: 675
Goal Score: 700


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