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Another Credit Card Horror Story

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Ah, FALL IS HERE.  October is time for hobgoblins and horror, and sadly, for some of us, horror can come from a seemingly innocent source...credit cards. 

My credit card horror story dates back many, many years. 

Once upon a time I had excellent, almost impeccable credit.  Never missed a payment, usually paid the entire balance in a month or two. I felt quite secure in my credit-worthiness and would regularly get offers for new cards with ever mounting credit lines. This all seemed wonderful, and I became entranced with the ease of which I could obtain everything from clothing to cars to vacations. 

With this wonderful little wafer of plastic, I could have almost anything money could buy...or "borrow." 

It began slowly, insidiously, and within a few years my plastic keys to the kingdom began to fill up and max out. 

As this happened, my once small manageable payments began to soar, and I realized how much money I was spending each month to pay for items that had long since been used up or forgotten. I recall one day as I had all my credit card statements laid out in front of me, I looked seriously at the balances and then back over the year at what I had purchased. I was aghast to see that so many of the purchases were frivolous or far beyond my means. 

I so well remember a flood of fear and anxiety rush over me as I fully took in the fact that I was now in serious debt.   

The horror gets worse! In desperation, the "big idea" came to me to take out a second mortgage on my house so I could rid myself of the huge monster I was wrestling with. As I look back now, I cringe when I think of how foolish I had been and what little forethought I had used as I accrued this debt and the unwise choice I made to deal with it. 

Ohhh, and the horror gets even WORSE. 

Upon receiving the funds from the second mortgage on my home, I paid all my bills. The first few weeks gave me a great feeling of freedom. BUT, I was a credit card junkie and it wasn't long until I gave in to my "addiction," and began to use them AGAIN!

You know the rest of the story...in a few years, I was right back at square one, staring at a stack of bills on the table, huge monthly payments, high interest rates, and now a second mortgage to boot. I cried!!!!!

Shortly after that, I heard about debt consolidation with CareOne, and made a life changing phone call to hear more about it. 

Now, I really WAS terrified of the mess I had gotten myself in to, and the glitz and glam of paying with credit had truly turned into a feeling of utter horror and despair. That fear and despair quelled my desire to ever use ANYTHING but cash for ANYTHING. 

Once enrolled in the Debt Management Plan, I had ONE manageable payment each month, no more creditors calling, no more sleepless nights. 

Now I'm about half way through my program, and I cannot say enough about what a great choice debt consolidation was.

NOW, I only have horror when I want it, watching a scary movie!!!!

Julie Van Wert, Debt Management Plan customer with leading provider of debt relief, CareOne Services, Inc.Julie Van Wert

I am a Medical Social Worker at a community hospital, living in the great state of California. I am married and have three wonderful children, and three beautiful grandsons, with another grandbaby on the way. My family also includes a miniature Dachshund named Conrad. I love gardening and spending time outdoors, but I equally love doing home decorating projects. I've been enrolled in the Debt Management Plan for just under a year, and that has been a real "turning point" in my financial life. I hope you will follow along with my blogs under A Straight Talk on Debt in the CareOne blogs. Compensated CareOne Debt Relief Services Blogger.

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  • I know this horror story well.....we consolidated all our credit card debt into a personal line of credit when we purchased our first home.  Then we racked up more debt and rolled into the refinance of that same home a few years later.  Then I got into the balance transfer game and the death spiral began.  Isn't it great to see a clear path out of this horror story???

  • I have gone through that too! Settled with the credit card companies and they sent me new cards to run up. I could kick myself for getting back into debt. I have made my first payment with CareOne and I'm looking forward to watching the "snow ball effect" as creditors are being paid off

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