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Just Young and Stupid!

Date: Wed, 05/14/2008 - 09:24

Submitted by Seeing_the_Light
on Wed, 05/14/2008 - 09:24

Posts: 529 Credits: [Donate]

Total Replies: 6


Bottom line, I was young and stupid.

I applied for WAAAY too many credit cards at a young age (18) and maxed them out. I got a pretty good paying job at the age of 19, and was able to pay my cards on time. Then, I lost that job at the age of 22. I had started college a year earlier, so I was paying for school AND bills, and when I lost my job, I couldn't pay those bills for a few months. I got a few temp jobs, but it was never enough. All my cards eventually went to collections after about a year of non-payment.

I moved to a new city, with a new job and started a new school, to finish my BA degree. The big city got to me, and soon I was taking out payday loan after payday loan to keep up with everything. It was eating me alive.

In the spring of 2006, I found this forum. I learned some great new things, and it helped me get out of the PDL cycle, of which I am now free, and have been for over 2 years! Never again.

Through all that mess, I realize now I could have used all that money I gave away to those sharks to start paying off old debts and cleaning up my credit.

I finished school, even went on to get my MA, and graduated in December 2007. My boyfriend of 6 years and I always talked about marriage and family when I finished school.

I never REALLY told him all of my debt problems, or to the extent that they were at least. So, about a month ago, I started to clean up my debt... and my relationship. Finally letting him in, and letting him help me.

I am now on my way... with a long way to go. Although I am not quite ready for marriage yet, it's good to know that I'm on my way to becoming more financially secure if we ever are ready.


It is good to hear positive stories, gives everyone hope!

It is also good that, at a young age you learned your lesson and how not to repeat it. I wish that at your age I had learned mine :lol:

Also, you made a great point, being honset not only with yourself, but those in your life. Once your secrets come out into the light, they can't hurt you any longer..

Good Luck in all you do..karen :D


lrhall41

Submitted by Bossy4455 on Wed, 05/14/2008 - 09:56

( Posts: 5854 | Credits: )


Your story is simliar to mine. The day I turned 18, i was out applying for cards-- but because I could. I had a great job then, and had a steady income. I really went overboard. Then I used the cards to pay for college expenses, medical expenses, my parent's bill-- and on and on and on....

It got out of hand. I ended up having to declare bankruptcy because it was out of control.

Prior to the bankruptcy... I think in 2001, I had taken out a consolidation loan, that paid off everything except for my truck. The debt on that was around 12K, the payment was about 400$ a month.
Anyway, that left me with the loan payment, and my truck payment.

That would have been doable... but soon after getting the debt consolidation loan, i racked up by cards again. Not all of them, but alot of them.
When I did bankruptcy in 2004, it was for 25K not including my truck.

I've definitely learned from my mistakes. Now I live on cash only.


lrhall41

Submitted by Amanda Sullivan on Sat, 05/17/2008 - 12:30

( Posts: 172 | Credits: )