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Posted: Wed Apr 16, 2008 3:11 pm Subject: Hevnlys Debt Story....

Hello my name is Amanda, I’m 25 and live in Michigan...It all started when I turned 18, I was approved for my first credit card from Discover and they gave me a credit limit of $1000.00. My parents were furious that they gave such a high limit to such a young person and they tried talking me into closing it, unfortunately I did not listen instead I went on a shopping spree. I started getting more credit cards and by the time I realized it I had 11 yes 11 credit cards and I was only 18. At first I didn’t use all but a couple but kept the rest open, I think I felt cool/rich having them all in my wallet. Anyways I kept up the payments for a while and it was all going fine. I was working full time and going to college full time and what I basically did was put my whole paycheck towards the cards and used the cards for everyday use. During this time my mother was battling Breast Cancer and going on her 5th year, when we got the news that she had only 3 months to live. My dad was working 3 jobs just to make ends meet, so I immediately dropped out of school and took a family medical leave from my job so I could take care of my mom. She ended up passing away 2 weeks later; the day after she passed I received a call from my boss asking me when I was coming back to work. I told her I still had 3 months left on my leave and she then said well you took the leave to take care of your mother and now she’s dead so you have to come back now. I hadn’t even buried her yet so I became irate and quit right then and there. I had a very young sister to look after while dad was working so I stayed unemployed for about 2 years, and during that time I used all my credit cards to live off of. By the time I got a job and was able to start paying on them they had already been charged off and sent to collections and I was $15,000.00 in debt. So I started sending whatever I could to the collection companies and I ignored their requests for more and figured they will just have to accept what I give them. So now here I am at 25 and have about $5000.00 left to pay and I am starting to see the light at the end of the tunnel. However I got into a rut about a year ago and took out my first payday loan and then that turned into 9 of them. I felt as though I was even deeper than I was before only because I could not get a hold of any of them to pay them off when I wanted to, so I thought this is it for the rest of my life I will be paying $500 every 2 weeks to these places. Then I thought, no this can’t be it there has to be something I can do, and that’s when I found this site. Now I am armed with knowledge and have started my fight against these illegal companies. As of my last payday I started paying on my real debts and I actually have money for food again, and I owe it all to you wonderful people. I know I still have a ways to go but I also know that I can get through it with the support of all you Angels.
Thank you for reading my story!

Posted: Wed Apr 16, 2008 3:24 pm Subject:

I'm so sorry to hear about your mother. What a cruel and unfeeling person your boss was!

I know what you mean about having lots of credit at a young age- it's really easy to use it for unecessary purposes, and you don't realize until further down the road how beneficial it would have been to have been more responsible with it.

My mother NEVER wanted me to have any kind of credit. In fact, she always cut up those pre-screened offers in the mail that were addressed to me before I even saw them. So when I finally moved out after college, credit was like this big mystery to me. So when I started getting approved for tons of credit cards with high limits, I started buying myself all sorts of fun things. The only thing I thought I knew about credit was that if I paid my bills on time, I would have OUTSTANDING credit.

I had no idea that too many accounts, high balances, and debt to income ratio would actually tank my credit score and leave me with no institution to turn to when I *really* needed to borrow the money, like when my car needed the engine replaced and I had to turn to Cashcall.

Instead of cutting up pre-screened offers and trying to keep credit entirely out of my life, I wish my mom had instead sat me down and explained it all to me, and told me about how credit can come in handy, but it can easily be abused and leave you in trouble. I think it's very important that parents should really explain credit and budgeting and financial responsibility to their teenagers, instead of having them find out for themselves, and then it's too late.

Posted: Wed Apr 16, 2008 3:32 pm Subject:

Thank you for sharing your story, hang in there it will get better. Continue to work on things and you will be rewarded in the end. goodluck

Posted: Wed Apr 16, 2008 4:42 pm Subject:

Amanda, Thank you for sharing...Our stories are similar...My father was terminally ill and not working and I used my paycheck to pay his and my moms bills so he would not have to worry and tell her that their finances were so bad..he told her he had leave. That is where my downfall began. You did what you had to do at the time and so did I. I have no regrets for taking care of my father...he cared for me all my life. You are doing a wonderful job getting back on track and you will bounce back. Keep up the good work...and remember we are all here for you when you need it.

Posted: Thu Apr 17, 2008 7:42 am Subject:

Welcome to the site. Sorry to hear about your mother and the way your employer treated you. I can't blame you for quitting. It’s a long road but over time you will see the light of the tunnel. When I came here last year, I had many payday loans. I found a wonderful company who helped me consolidate everything and I am close to having my debts paid. Hopefully a few more months I will finally reach the tunnel. Hang in there, it will come one day.

Posted: Thu Apr 17, 2008 7:53 am Subject:

Thanks for sharing Amanda! The support of this sight is a huge help as we all begin to take back control of out finances. You will make it!

Posted: Thu Apr 17, 2008 8:00 am Subject:

Amanda, thank you for sharing your story. You are a wonderful and kind person. There is light at the end of the tunnel, and we are all here for you whenever you need us.