Judith Gets Out of Debt & Heads to the USA!
From time to time we like to check in with our former clients to see how they’re travelling after gaining their debt free status. This month we spoke with Judith from Sydney, who was more than happy to share her get out of debt story in the hope it may help others take action earlier and get out of debt.
Judith’s ‘get out of debt’ journey…
I accumulated credit card debt helping out my daughter while she was ill. Her illness still continues today, but in the early stages it was critical. If she waited for the public health system it may have got worse. I used credit that I didn’t really have and then tried balance transferring to 0% cards, but after 6 months they became 18%, I kept doing this until I was $25,000 or so in debt.
I was struggling to make the credit card payments, trying to keep the wolves at bay, it was extremely tiring and often that left me with no money for food. I felt helpless and overwhelmed every day.
I had tried so many things; budgeting, balance transferring and applying for hardship. I applied for hardship and I offered to pay each bank a lesser amount, but they didn’t accept. With the interest rates being so high the debt was growing rapidly. I failed many times to get my credit card debt under control. I said to myself, “I will have to go bankrupt. This is killing me.”
I searched online how to file for bankruptcy, and that was when I discovered there are other alternatives to bankruptcy. Debt Mediators appealed to me. So I made the call.
It was actually quite easy working with Debt Mediators. I spoke to a lovely staff member ‘Sharon’ who explained my options to get out of debt. She emailed all the information to look through, along with forms to fill out. Doing an assessment on my debts and understanding what I paid out each pay helped me to put things into perspective. The only nail biting part was waiting for my creditors to accept the rather large reductions Debt Mediators proposed.
Encouraging words from Debt Mediators every time I hit a milestone helped me stay motivated and reduce my debt faster. Right away I was able to pay all my bills, have money for food and emergencies. All of the stress I’d been under disappeared, and I was back in control.
If you’re struggling with debt, do yourself a favor and get help sooner. It just gets harder the more you owe. Believe me!
I’m now debt free and my credit history is clean. I could get a loan if I wanted one, but rather than give banks my money I save for things and wait a little longer. In an emergency I could get a loan, but now I have better money management skills and will never fall back into that debt trap.
I now have all my utilities and bills taken out every pay via direct debit. I have a savings account and transfer $30 per pay for Christmas/birthday presents or anything nasty surprises that may rear their ugly head. I have learned to buy only what I need and not what I want. I buy food specials in bulk that I use constantly, and only allow myself take-away food once per pay. I’m saving a little and paying bills on time… it’s so much less stressful. I’m in a much better place.
Now I’m debt free; I’m so much happier that burden has been removed from life. Over the last two years I’ve been saving for a holiday in the US to visit friends and I’m honestly loving life.
Judith – Sydney, NSW.