HOWEVER…

Let’s get into my situation. I currently live in Phoenix, AZ, and have a temp job earning $11.89 an hour. I have no health insurance, but I have to spend around $150 per month on medicine. When I get sick, I try to avoid going to the doctor, but if I must go, I pay out of pocket. I have car insurance and try to make sure that I stay in compliance with all the laws that cost money (namely, I had to get my Arizona car tags, registration, and driver’s license the other day, all costing $115!)

And I have over $14,000 in credit card debt. Yes, it’s my fault. Yes, I made a LOT of mistakes in my life and am paying dearly for them now (literally). I have lain awake at night wondering how I would pay these people now that I can’t even make the minimum payments. They call and they call. Oh, they call, even at 6:00 in the morning because apparently they still think I’m in the Central Time Zone even though I gave them my new address.

So what to do?

Don’t get me wrong. Every time I came across a few hundred dollars, even $75, I would send it to my credit card company. I would send them as much as I could. But you must understand that the first $80 I pay them every month goes to fees. Over the limit fees and late fees. I was finding that no matter how much I paid them, my balance was still going UP.

And then it dawned on me… if my balance is going to go up anyway and if they’re going to send me to collections eventually anyway, why am I torturing myself sending them every last penny I have just to see my balance go up every month. I can watch my balance go up and not send them anything.

And so here is my resolution. I know that eventually the credit card companies that I owe are going to get their money, or at least a decent settlement. So I have decided not to send anymore money to them until they take me to court. Credit card debt at this point is like a lively game of chess; a few bad moves at the beginning can easily lead to check mate even if you learn your lesson during the game.

But there is some good news. I get free Internet access at my apartment now because there is a nearby hospital that gives its patients free WIFI, so I can tap into that from home. That saves an additional 40 bucks a month. Then I decided to start taking the bus, and my boss thinks she can get me a free bus pass, so that would be great! I currently spend almost $150 a month on gas, so that would save a lot.

And do you think I’m going to send that extra money to the credit card companies? NO! I’m going to beef up my savings account and be prepared in case of an emergency. That is one good thing about being so far in debt that it seems impossible to get out. At least you don’t have to worry about it.

Now let me say this: I am responsible. I admit, I am RESPONSIBLE. No one made bad decisions that got me in debt but me. It is my responsibility to pay this debt off in full if I can, and in part if I cannot pay it off in full. By taking some time from paying off my credit card companies, it will give me a chance to regroup before I make a plan to get my debt paid off. What else can anyone expect?

I am a firm believer in paying debts, and I hope that you will realize that borrowing money is a lot more fun than paying it back and that you will pay it back anyway. But, as they say, desperate times call for desperate measures. We must make the decisions that make the most sense to us, and we must learn to deal with the consequences as they come.