Finally, when the alternator in my car croaked and I knew I’d need to save my “discretionary”, ie, non-CC payment money, for 3 weeks to afford a new one, I threw in the towel. Bankrupt, with nothing to show for it. I’ve since scraped along and (mostly) rebuilt my credit. Three years ago I even bought a house– a house I couldn’t afford, it turns out. I ended up with about $10.5k in CC debt, in addition to my (never-ending) student loan, down to about $16k at that time. I sold the house, moved in with the GF,and (largely out of fear of ending up as backwards as my mom) knocked the CC balance down to $5355, and the SL to $12.9k.
I’m paying off at the rate of about $1000 a month ($750 to the CC, the min. $250 to the SL). It’s frustrating to scrape by, with the only thing to show for my diligence being those declining balances. I *want* a new PC. I *want* a new(er) car. I *want* the latest Jessica Simpson hit single. Okay, kidding about that last one. Actually, I joined this group 1) to commiserate with others and 2) I’d REALLY like to hear from some “success” stories out there, to help me see the silver lining down the road! Thanks to all, have a great day