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.
Coming Clean
May 10th, 2017 at 03:21 am
May 10th, 2017 at 05:05 am 1494389158
May 10th, 2017 at 05:34 am 1494390897
May 10th, 2017 at 12:08 pm 1494414522
The best online calculator I have found is What's The Cost that can help you figure out how to snowball debt repayment.
May 10th, 2017 at 01:03 pm 1494417833
May 10th, 2017 at 02:28 pm 1494422883
May 10th, 2017 at 08:42 pm 1494445365
May 11th, 2017 at 12:55 am 1494460523
June 5th, 2018 at 10:20 am 1528190407