I'm building this site as a resource for all of those people, like me, who at some time in their lives been plagued with credit card debt and are looking for a way out of that debt. Credit card debt can be a dangerous financial pit that is easy to slide into, but difficult to escape. It brings with it many concerns, feelings of guilt and really dramatically changes our lives. I hope that you will find encouragement and ideas in these pages that will help you to escape from credit card debt.
Our story is that of a couple that got into debt out of necessity. Buying groceries many times had to be put on a credit card because there just wasn't a lot of income coming in. Of course, we didn't get the cards paid down each month and it kept spiraling. It seems as though many times we started to make progress until the next set back, big car repair, or surprise long distance bill. (I'm sure you know the story...) We had just started out and didn't have any savings and so the credit cards became the cushion of "liquidity" for our day to day lives. Over time we started digging out and managed to come almost even (within about $1500.) When work situations changed again and the lack of health insurance afterwards came at a very inopportune time. A surgery, broken ankle and baby later.... we were back in the hole to the tune of $20,000+ I really quit counting when it was above $20,000. That's just what was on the credit cards and doesn't count the monthly payments of $200 to the hospital, the other loans that we have had outstanding, etc.
So, believe me when I say that this is OUR story too. Credit card debt can be stifling. I'm self employed and unfortunately when I started, we didn't have the funds (or awareness) to make the finances separate from the beginning which means our credit cards have also been working capital for business supplies and projects. So, we're in a position of occasionally needing to use the cards to purchase supplies for projects (or decline work) as well as the fear and pressure of what will happen if we're not able to keep up payments. Well... I could go on for quite a while about how debt changes your outlook on things and your life. (Especially when you're self employed/consultant/etc.) I think I may save that for future posts.
With all of our experience at being in debt (and climbing out) we have learned a lot about eliminating credit card debt. There are going to be many suggestions and ideas on this site. Some we have used and they have worked for us. Others we weren't able to use because of our situation. This site is for us and you both, use what suggestions work for you and leave the rest. This site is about declaring war on your credit card debt and charting a strategy with day to day tactics you can use to eliminate your credit card debt and declare victory over your credit card debt. That sounds fairly dramatic, but I think it's an appropriate way to look at it because credit card debt is like a cancer on your finances and it's important to take it as a serious threat to your future. That much said. Don't loose HOPE. You can do it!
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