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Archive for May, 2017

Thank You

May 14th, 2017 at 01:59 pm

Happy Mothers Day to all the moms here and the women who are "mother-figures" giving advice and support, and telling us to pull up our britches and get to work!

Patient Saver correctly called me out on my last post for being "pretty blase" about my debt. And she is completely right. :-)

Here is my excuse: I won't be able to concentrate on fixing it until mid-June at the earliest. I don't have the income to do anything at this moment, and I can't fix that until then.

My youngest toddler is going to be undergoing a major surgery here in a few weeks. Until then, we have a lot of appointments and things to wrap up. After the surgery, it could be months of recovery for him.

I will work on strengthing my income stream as soon as he is out of the hospital and we get thru the first rough week home. His health comes first at the moment and it has been an interesting ride.

I do expect repayment from my loan out sometime in the fall/early winter, with interest to cover all the transfer balance fees, etc it caused. And if I don't, well that was my risk.

Until then, 0% is awesome. I am not adding to it (except for the last lawyer bill that I will get at the end of the month). I put a little bit extra towards the debt everytime I can. I have reigned in spending. I am not ignoring the debt anymore and am coming up with plans to fix this and steps to implement them to get this gone.

So thank you for watching out for me, and helping me keep the energy going. I really do appreciate all you guys do for me!

Coming Clean

May 10th, 2017 at 02:21 am

I have drafted and tossed a few versions of blog entries. I kept trying to dodge the ever-present fact of my debt.

I have accumulated close to $25,000 in credit card debt. Almost all is 0% until next year. The non-0% is typically paid off within the month. I am currently making minimum payments on the other cards.

I have also taken out a 4.5% loan from my life insurance for $7,500. I am paying interest only and a tiny bit of a principle by rounding it up to $50.

$32,500 in debt.

Debt. Debt. Debt. I am officially divorced and all this debt is on me. Kind of scary, but I still feel in control, somehow?

How did I get here? Some of it is paying my lawyer (my side of the divorce will end up over $7k), some are for summer tuition ($2k - going back for a master degree at an online college). Well, and I also took out cash advances, special 0% pay off debt check offers... for a loan for my family. I loaned money during a difficult time. To the tune of $24,500

I should, in theory, be paid back for these loans with interest. I am hopeful. I think it will probably happen. But I also gave it out knowing that it could very well end up a gift. I am ok with that either way. It helped me and it helped them and it cut a lot of stress out of a LOT of people's lives.

So..... yeah. Debt. LOTS of debt.

How am I going to crawl out of this? I don't know. Probably just like you eat an elephant.... one bite at a time. I have been in worse places, so this is just another day. Won't be fast or easy, but I can do it!

It feels good to come clean.