Introduction : Hi Everyone!

iVillage Member
Registered: 03-25-2008
Introduction : Hi Everyone!
3
Thu, 06-12-2008 - 1:27pm

Hi Everyone. I'm Leslie from Virginia. I've lurked for awhile and finally decided to post. I am seriously in Debt as a result of me being a serious compulsive spender/debtor. I've actually cut up and cancelled my two largest credit lines (can't afford to pay them anyways). The other one is still open, though I don't have a card for that account either. A good thing because I can't resist spending. :-(. Total on these three lines of credit is about $44,000 worth of debt. I also owe 1/2 of a line of credit ($25,00) and half of an education loan for my oldest daughter (about $4,800). Have actually called a couple of the consolidation places to see what they can do to help. The only thing that they can possibly do is to see if they can get some of the debt discharged and consolidate the rest into a payment I can afford. Does anyone know anything about this kind of process? I've also been considering filing bankruptcy too. Though trying not to do that as it will be detrimental to my credit rating for 10 years. Though not paying is detrimental too. :-(. My BF thinks I should just work out paying a lesser amount to the credit companies until I can make higher payments. Any thoughts on this plan? Will that work? I'm actually moving in with him in order to save money and then I can pay what I was paying in rent for my room ($400) towards debt and my other bills (Car Payment ($307), Insurance ($100), Insurance ($40), Cell Phone ($200), Payment for my half of joint loans (550)). He's also going to give me extra money to help cover my bills. Really a nice, generous man to open his house and money to me. I've actually joined DA (Debtor's Anonymous) to help me learn how to manage my addiction to shopping/spending money. Looking forward to being a member of this group.

Leslie



iVillage Member
Registered: 10-09-1999
Thu, 06-12-2008 - 2:23pm

Hi Leslie, welcome to the group.

iVillage Member
Registered: 11-17-2007
Thu, 06-12-2008 - 6:06pm

Welcome to the board,


You can do it yourself it is a matter of mind set You want to get out of debt you will do it.


Make a list of your debts the closing dates and the payments this month and the interest rate. Start with that figure. As you pay your bills the amount of payments a month should go down by a few dollars Use that few dollars along with any other extra money and snowflake it into the total debt.


iVillage Member
Registered: 04-12-2007
Fri, 06-13-2008 - 7:41am

Welcome, Leslie.


It sounds like you have really thought this out and are ready to get serious.