New and in debt

Avatar for daisychain2001
iVillage Member
Registered: 06-27-2003
New and in debt
1
Fri, 06-27-2003 - 12:28am
I'm 23 and recently divorced. My ex hasn't paid any support for our 4 year old dd since september, and my credit cards have taken up the slack. I now have 10k in credit card debt, along with a 21k car loan (bought it before the ex flew off to florida). I worked very hard to get my credit rating to be excellent, and in the last six months my fico score has plummeted. It's still considered okay, but it's just so depressing! I feel like I have been totally irresponsible, and that I'm drowning in all my monthly payments. I look at how much is going out each month and realize how much better off my dd and I would be if I didn't have as much debt. I guess I was just looking to vent. I really like the snowflake idea, and have been trying the snowball method, but it will be another 10 months before I can roll one payment onto another card. It just all seems so hopeless. Anyway, thanks for "listening"

Hugs,

Megan

iVillage Member
Registered: 03-31-2003
Fri, 06-27-2003 - 10:01am
Hi Megan,

Hang in there. The good news is, this is probably as bad as it will ever get.

Just noticing that you'd be better off without your debt will lead you on that path. I've found that reading personal finance books like Jerrold Mundis' "How to get out of debt, stay out of debt, and live prosperously" among others helps to pass the time between credit card payments. Also, logging in here every day keeps me focused.

I carried the debt from my divorce for 10 years before finally doing something about it. I owed $24K two years ago, and now owe $9K. And I've been living prosperously lately, too!

Another thing I do to keep myself occupied from worrying about debt, or compulsively spending, is www.flylady.net. You may be able to declutter and sell some stuff to put money towards your debt.

All the best,

Lee Ann

Lee Ann

www.werenotafraid.com