Getting out of debt

United States
February 7, 2009 11:32am CST
How many of you are in hock up to your ears right now? How are you coping, especially in these hard economic times? C'mon, don't be embarrassed about it? It happens to the best of us. At any time, medical bills, credit card bills, etc., can pile up very high. You lose your 6-figure job, and month after month your creditors call. You tell them that you lost your current job, but you should have a new one really soon (big mistake, I can tell you from experience). The calls don't stop as the bills continue to pile up higher and higher and higher. Soon your home goes into foreclosure; your car gets repoed. What can you do to stop the madness? File bankruptcy? Not the best option. What I am doing now, is to pay off one bill from one creditor at a time. Since I have already been through bankruptcy, I have learned a very powerful lesson: No more credit cards. They are the worst form of debt. Did you know that some credit cards charge for non-use, and such non-use could actually LOWER your FICO score? Be that as it may, how are you coping with the current economic climate? How are you dealing with debt? I want to hear from you especially if you are among the countless people who have just, through NO FAULT OF YOUR OWN--got laid off.
1 person likes this
5 responses
• United States
9 Feb 09
I currently have a car loan and student loans. I graduate in June, so my loans will soon go into repayment, but they have been building interest, so that sucks. When I graduate, I will have to take on a second job to pay for everything. Until then, I will be donating plasma twice a week.
• United States
8 Feb 09
My problem isn't layoff-related, but poor health. My medical bills -- WITH excellent insurance -- were more than $19,000.00 in 2008. That's just copayments! In any case, teachers don't earn enough to pay that much for one thing and still keep up with the rest of the bills. I'm keeping up with the mortgage, but only because I bought the house so long ago that the payments are quite low. For everything else, I am thoroughly humiliated as I make deals with each creditor to pay what I can when I can.
@Foxxee (3653)
• United States
8 Feb 09
why is this under autism?
@dogsnme (1265)
• United States
7 Feb 09
I'm in debt over four credit cards, a car and a house. Fortunately I still have my job although things are slower than usual meaning that for the past month or so I've only been getting 30 hours /week. But, I've cut back on spending and I'm able to continue to pay my bills on time. I'm not worried about it. I've learned over the years how to make the necessary changes to get by.
@albert2412 (1782)
• United States
7 Feb 09
I can understand what it is to owe money, especially right now. I am retired with only a small income and we have to spend a lot of our money helping our autistic son with supplements and herbs. Even my car has needed some help lately. It justs seems that we keep getting deeper into credit card debt.