Debt is a Four Letter Word, but Debt Consolidation is Nothing to be Ashamed of!

A Straight Talk on Debt

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Debt is a Four Letter Word, but Debt Consolidation is Nothing to be Ashamed of!

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I heard Vonnie scream in pain from all the way on the other side of the house. When I reached her she was sitting on the floor rubbing the top of her foot and whimpering in pain. She had been dusting a bookshelf and dropped a small stereo speaker on her foot. I helped her up, and let her lean on me as we got her into the car and to the Emergency Room.

X-rays revealed she had broken her foot.

The doctor put a cast on her foot, gave her some crutches and pain medication and sent us out the door. 

When I found her sitting on the floor in pain, there was no doubt that we needed to take her to see a doctor. I'm not a doctor, and didn't have the skill, the equipment, or the resources to diagnose and treat what she had done to her foot.  She needed professional help. 

As Vonnie and I are closing in on the completion of our debt consolidation plan (5 months to go!),  the above story popped into my head and I couldn't help but make some comparisons between that medical situation and our financial situation back in 2009.

We Didn't Have the Skills

We had never lived within our means, and quite frankly didn't even know how to start getting our finances back into shape.  We needed someone to help guide us in the right direction.

The CareOne representative we spoke to asked us questions about all our bills, and how much we spent each month on other things such as food, utilities and insurance.  When we were done, this was emailed to us which became the foundation for our first real budget.

We Didn't Have the Equipment

We had reached a point where we could no longer pay all our bills.  Even if we could put together a budget and learn how to control our spending the payments on our debt were so high that we needed something to help us reduce our payments to our creditors each month.  Additionally the interest was so high that we weren't making any progress towards paying off our debt.

As part of the process of getting our debt consolidation plan going, proposals were sent to our creditors that reduced our monthly payments, as well as the interest charges on each account.  This put us on a course to pay off all our debt within five years.

We Didn't have the Resources

We didn't have anywhere to turn to talk with other people going through the same thing we were.  We didn't have anywhere to get tips on how to save money, or support from others that knew what we were going through.

The CareOne online community is full of people going through the same program and are more than willing to support each other.  The blogs are also a great source of tips and motivation to keep moving along our financial healing process.

When our health is in question we don't hesitate to ask for help from a medical professional.  Why then is it so hard to ask for help when our financial health is in jeopardy?  I read a very motivational article that contains one of my favorite quotes of all time:

    "Asking for help doesn't make us weak. It makes us strong."

Be strong, my friends.  Ask for help if you need it.

Related Links:

Need Help...Just Ask!

Telling Your Friends and Family About Debt Relief Options

Help Wanted: Stubborn Seeking Sanity

Travis Pizel, debt management plan customer with leading provider of debt relief, CareOne Services, Inc.  Travis Pizel

Travis is a contributing writer for the A Straight Talk on Debt blog. He is also a very active member of the CareOne community forums. Travis is currently enrolled in a CareOne Debt Management Plan (DMP). Travis candidly shares his personal journey to pay off his debt and the tips he's learned along the way. As a father and husband he provides a unique perspective on balancing debt, finances, and family in Minnesota. You can also read more from Travis on the Enemy of Debt blog, where he is a featured blogger. Compensated Blogger for CareOne Debt Relief Services.

To connect with Travis on Google+ click

You can follow Travis on Twitter @DebtChronicles

 

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  • I am happy that Care One exists for people that are in need as am I. though it is tough at first to get the ball rolling as I am feeling it but I am excited that there is a company that is helping me settle my debt issues. thank you Care One

  • I'm right there with you, James.  Without CareOne I likely would have ended up in Bankruptcy court and then who knows were because we wouldn't have solved the underlying issue as to why we got into debt in the first place.  Now, we're 5 months from being done with our DMP, AND we've got the skills and perspective to keep us from ever making that mistake again!

  • That trend is seemingly reversing now, and we want to get rid of the interest-only second mortgage and get everything locked into a fixed-rate loan. As my wife and I pulled into the bank parking lot, she asked me a very valid question: Can we even refinance

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