Single and Settling In

Single life has its own unique challenges, personally and financially. Hear how these bloggers are making the single life work for them.

1 Year Down, 4 More to Go

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It has been a year since I committed to my CareOne program.  Didn’t think I would or could make it.  It has been hard and I am still amazed at how I am able to “live” without credit cards – if only I knew then what I know now!  I read the blogs and chats and posts in the Community and I only hope that people are getting what they need for help.  It is scary to be in debt.  It is scary to reach the point where you don’t know how you are going to put food on the table or make a rent or mortgage payment.  It is scary to commit to a program that seems your “last resort”.  But, really, what do you have to lose?  We don’t remember it being scary when we were spending or making bad decisions financially.  We have a fear of the unknown and the uncertainty.  I look at it this way, you can be in one of three scenarios: 

1 – a little in debt and starting to worry about going into too much debt and want to be proactive before it gets out of control.  In which case, by getting involved now in managing your debt you can get out faster than you would without seeking help and financially free sooner rather than later. 

2 – A lot in debt, but still able to pay your bills on time, good credit scores, but way in over your head.  This was me, it was now or never for me a year ago – what I had to lose was my good credit score and solid history of paying.  By electing to commit to a program, I was electing to commit to my future goals.  Four years seems like a long time, but had I not made a step to CareOne, I would have been looking at something closer to 10 years and a lot more interest.  Now, there is a light and in 4 years, I will have the financial freedom that I didn’t have the patience for 5 years ago. 

3 – Creditors are calling, foreclosure or bankruptcy is looming, things couldn’t get much worse.  Your challenge right now is that you are getting to the point of desperation and there is a fear that if you commit to something that isn’t legit, you will have wasted more time and energy that you don’t have. 

Bottom line – yes, scary is every day you realize that you are in debt and it’s a problem.  What isn’t so scary is when you a find a legitimate organization that works with you and for you and the light starts to get a little bit brighter.  Think about your circumstance.  Think about what you can and cannot do.  Think about what you need out of a program for it to work.  Research a program, talk to people and take the next step. Five 5 years seemed eternity to me, with as fast as this last year went, and seeing my balances actually go down significantly since last year – the next four years should be smooth sailing.

  • Scenario #2 was me, too.  Eighteen months ago, I owed $58,106.61 in credit card debt.  To date, my balance is $43,686.  That's $14,420.61 I have paid back.  According to Care One, I have 3.6 more years to go before I will complete the DMP.  I hope to complete the program in less time.  Just imagine the nest egg I could have if I didn't have this credit card debt.  Boy, was I stupid.  

  • I have called myself stupid more than a couple of times over my debt, but hindsight 20/20.  The fact that we are doing what we are now...that is the key and sure our nest egg could have been big, but think of what you can put away once the debt is gone - we will have plenty of time to make up for what we "didn't do"!

  • Most of the time, debt does not happen overnight. It definately will not go away overnight either. If you are patient, this program does work.

  • I'm about to finish the program, ( 3 More months) and I feel very proud of myself and relieved that I will finally, have some money to live, I've been in a very tight budget, for years and now I will be debt free, it feels sooo  good, keep it going my friends, time passes fast and pretty soon you will feel free, like me.

  • #3 was me. The creditors were calling and I was trying to duck and dodge. Thank god for care one. I'm in my fourth year and have only two months left in the program. I am ecstatic to have my finances under control and to almost be done. And I'm glad I've learned from my credit mistakes sooner than later and will go into my 28th birthday with a huge smile on my face. There is a light at the end of the tunnel.

  • I was the #2 situation.  I tried to work it out myself with the creditors but they didn't even want to talk to me.  I was making at least the monthly payments but it was getting harder and harder.  I enrolled in the dm program and actually have a sense of relief and looking forward to the end of the program.  I, too, look at the monies I have spent and am now paying back to what I would have had but hindsight is 20/20 as stated above.  Good luck to all of you.

  • I have 3 months to go in a 64 month plan. Upon reflection, I have realized several things:

    The first 6 months and the last 3 months are the hardest. The first 6 months transitioning to a cash only life is flat out HARD! The last 3 months (especially with the economy threstening to take my job) I can see the light at the end of the tunnel and I am so anxious to get there!

    Paying off this debt is the most important goal I have ever accomplised as an adult. I have begun to realize if I could meet this goal, there may be others I can reach as well!

    I don't ever want to "owe" again!

    Stay with the program. It works! Learn as much as you can. You won't regret it!

  • I love knowing that there are people that went through the same things I did and do!  I also like knowing that we all see the light at the end and are excited to get there.  I can't imagine what it is going to be like having the extra money to put away for my future!

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