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Question
Posted by: Debtor | 2007/12/11

Debts

I'm owing everyone,ADT,Edgars,blah blah and my bond in arrears due to hiking interest rate.
Have a box in my garage where i put all the reminders and final demands.so full not even one is opened until last week when i managed to open the recent ones some they used red paper.for the first time since April i took paper ,pen and calculator and compare my income vs my expenditures.and visited all the stores paid them all the minimum dues just for my accounts to be up to date.
and i felt relieved though at the moment i'm left with NADA,but i'm gald i ttok the first step.and i couldn't belive some of the accounts that were not handed over to their attorneys.then for my bond i visited the bank to tell them my story and increased the term to 30yyrs hop i will get a small difference.
then
The prize i had to pay now is we have to pay tribble the contract amount on our cellphone and after that loose all the number and the contracts.and this time around .luckll i have a full paid car and using a state car to and from work. yhaa life!!!

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Our expert says:
Expert ImageCyberShrink

Sounds like at last you took the plunge and handled the debt well. The next task is to plan your finances so as to avoid ever getting into debt again ( and that may need to include not buying on credit, and bying only what you really need, until you have a good buffer of savings

The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical exmanication, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.

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Our users say:
Posted by: Britty | 2007/12/11

You are very welcome - I am passionate about controlling debt for a better life as I know how easy it is. Take Care.

Reply to Britty
Posted by: Debtor | 2007/12/11

Britty Thank you very much for the wonderful words

Reply to Debtor
Posted by: Britty | 2007/12/11

Dear Debtor,

What you have done is the right thing and yes it is difficult but you are on the right path. You have achieved so much by dealing with the problem and paying everyone something. Once you are free of all lthis debt then budget, budget, budget! Its the only way to control your money otherwise your money will control you and your life. Its only by writing it all down that you can see what you are spending. For a couple of days my dad wrote down every single cent he spent and he was horrified at the wastage.

By not pandering to image or status or trying to always be in the fashion which for an ordinary person like me would only be possible with a credit card I now know the difference between need and want and its a huge difference. Now I always have money when I need it. Yes I have a credit card but I call it my emergency card for life or death purposes only!

I don't tell my family and friends because they would be horrified but I buy secondhand if I don't have the price of new, then when I can afford new I always get my money back on the secondhand goods anyway. However that is not for everybody and you can find your own way of economising.

I found that just by calculating the yearly cost of something is enought to put me off buying it. For example when a smoker friend of mind complained that she couldn't stop I calculated the cost of her habit and she was horrified when I came up with a figure of R5,550 for her yearly bill and when she doubled it as her husband smoked as well she realised she literally burning R11,000 a year and that she had nothing to show for that R11,000.

Without telling my friends and family I buy what I can secondhand as when i can afford it new I sell the second hand goods and always get my money back.

Susie Orman writes a lot about managing your money and has a website as well.

As for cellphones, mine is my husband's old work one and I use pay as you go but again I use it when I have to and not just for convenience's sake.

Good luck, you have made a wonderful beginning.

Reply to Britty

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