One thing I find fascinating is it takes a long period of time to get into debt until it slaps you in the face…tnen when we have to face the debt head on, it feels like it’s such an uphill battle and people give up or feel like they have to file bankruptcy…To get out of debt is hard work, alot of discipline and the willing to fight to be debt free….It’s not an easy road, but well worth it in the end when it comes to making it easier in life. Congratulations in getting through your financial situation.
One question as I am a bit confused.. You said you are NOT behind on nay of your payments.? So that means you can afford at least the minimums on all your accounts, but I assume they arent shrinking fast enough.?
Have you gotten a hold of all the accounts that were being hidden so you dont go even further in debt?
I personally am not a fan of bancruptcy and should be the very last resort. I think there are so many other solutions available that need to be explored way before that extreme.
Now if you were in a situation where you could no longer make payments and getting threats from creditors that may be a different story. I am currently not behind on any of my payments. However, I have sold/scrounged/shaved as much as I can to make those payments. They are getting progressively closer to being past due. In other words, there are times that I have let some of them go by, knowing that I could get away with putting them off but had others that had to be paid that would rack up late fees. Now I’ve pushed it as far as I can go.
Twice in the past 14 months I have contacted all my creditors (in writing) asking them to discuss with me lowering or elimination of the interest charges. With the exception of two (and one of those is only a temporary six month adjustment), they refused. Now that they know how tenuous my financial situation is, though, they are very good about sending me emails or a quick phone call just to “remind” me about the payment due date.
Since the divorce is now final, I am “supposedly” not liable for any more of his hidden debt.
Yes,I agree with you. Bankruptcy is a last resort. There are two issues I’m facing right now:
- Even if I enter into the CCCS repayment plan (which, not surprisingly, would immediately lower or eliminate the interest rates on all those same accounts who would not deal directly with ME), the minimum payments would actually go UP in some cases. Since I do not have anything extra as it is, where is the additional $$$ going to come from?
- My ex is now talking about revisiting the spousal maintenance amount he is currently paying me which he has always felt was an affront to his being totally free of me anyway, then it is quite probable that within the next three months my monthly income will be going down – not up.
So, the implosion is beginning.