After paying off over $60,000 inover the past eight years, I've learned a lot about what it takes to get out of debt successfully and not lose your mind. It's painful to admit, but like many people, I didn't realize I was in a financial crisis until I was actually in a financial crisis. There were a number of hints and clues that I chose to ignore until I no longer had that luxury.
Once I made the decision to pay off the debt, I discovered that I had to recommit to that decision throughout the years. Even though I had decided to pay off my debt, I discovered that there were moments that tested my resolve. Those moments included being tired of the process, going into entrepreneurship and being broke for years, and getting tired of paying off the debt. In case you're wondering what in the heck "energetic debt repayment" is, I will share that with you.
MichLovesMoney Good read. It’s a cycle tho. You’re poor, u have bad credit, but u can still get loans and credit...at 20% or higher interest. You try and pay it off, but the principle stays. I say jerk em. Send to collections and negotiate down. Who gets a 20% return on investment anyway?