started CCCS today

iVillage Member
Registered: 08-16-2004
started CCCS today
14
Wed, 06-01-2005 - 7:25pm

Well, I finally figured out that I would never get this debt off my back without some help. I used CCCS of NH/VT. I sent out the first month yesterday. I'm embarrassed to say that I have $80K+ in consumer debt. This doesn't count the house or the car (well, the truck...).

I really wanted to do it myself, but the credit companies just won't budge and I was just robbing Peter to pay Paul...and George, and Fred, and ... well, you know what I mean. I stopped answering the phone. I mean what is the use of living like that? It will be tough and difficult for 60 months. That's five long years. But I will do it. I will pay this mess off and I will never, ever use a credit card again. I mean if I can't afford it in cash now, how can I afford it next month with interest....mmmm Wish I'd done it last year, but wishing don't make it so.

So here's to a step in the right direction. 1 payt down, 59 to go.

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iVillage Member
Registered: 06-10-2005
In reply to: spyweb
Fri, 06-10-2005 - 9:08am
Thanks for all the info. Talked with my husband last night about the debt management thing. He's all for it. Guess I need to talk with CCCS and see what happens. I think with some help from them we can get our life together. Told my husband that since he retires in 16 years I want this debt cleared up and go back to the cash only. I was thinking of keeping one cc with a low limit for emergencies such as the fridge dies, etc. Got to go to work!
iVillage Member
Registered: 05-04-2005
In reply to: spyweb
Fri, 06-10-2005 - 2:18pm
This is the first step. We started CCCS last month after lots of time robbing Peter to pay Paul, too. Yes, it's scary. Sometimes when I look back at the hundreds of thousands of dollars in late charges, high interest, and overlimit fees we have paid over the past several years, I get nauseous. A lot of that credit card debt is paying for things we have long since used. We got to a point where I opened new credit cards so I could make payments on the old ones. Ick. But moving forward!
Congratulations! We took the added step of only having one ATM/Check Card between us. It stays at home most of the time. On payday, we pay the necessary bills for the week out of the bank account, and then take out CASH for groceries, gas, entertainment, etc. using cash REALLY helps keep track of the budget.
iVillage Member
Registered: 10-06-2004
In reply to: spyweb
Fri, 06-10-2005 - 8:57pm
Hello I'm back again. The one cc I'm dealing with is a 6-month special debt plan-automatically deducted (which I hate, but I'm paying attention to my checking account more seriously now, cuz for awhile I was one of those who stuck their head in the sand, when it came to finances, I can't afford it now since I want to be completely debt-free by the time I'm 50 which is next year-and don't want to have any xtra baggage when I go to see and feel some true blue water) SMILE, and with the agreement I made with them is NO INTEREST, NO FINANCE CHARGES and NO LATE FEES (big difference, at least for now). This particular cc was the one I had the faux-pau(sp?) with while going thru CCCS, when I was a client - they wouldn't budge on the interest rates or nothing. But this time around, I'm gonna be the winner. Keep the faith, you will get there too.

 

iVillage Member
Registered: 11-21-2004
In reply to: spyweb
Sat, 06-11-2005 - 11:57am
80k is a lot of debt for anyone. Honestly if I were you I would seriously look into bk. I know it is an easy way out but it's going to take you a long time to repay all of that debt-5 years. I know bk isn't for everyone but with 80k I think it's something to think about. You can make an appt with a bk lawyer in your taoen for a consultation and see what theyhave to say about it. I know someone who filed bk a couple of years ago and he has cc again. You can truely re- establish credit afterwards. Just don't make the same mistakes agian :) A couple of good books to read are Dave Ramsey's Total Money Makeover and hid Financial Peace. They are awesome books with some really sound advice and plans on how to stay out of debt and build wealth. Good luck to you!!!

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