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Old 08-25-06, 09:18 PM
Spencersmom's Avatar
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Default Anyone else clawing their way back?

We got into deep trouble a few years back when DP got diagnosed with Cancer & I got cut from FT to PT and then laid off. I ended up working with a trustee and paying out a Consumer Proposal. A proposal is the step before bankruptsy, you go through the courts and you and all your creditors negotiate what you will pay back. I ended up paying $46,000 back to creditors (cc & credit line debts) and we are now one month away from discharge. We have lived on cash only for the past 3.5 years and it has been a real learning experience and very humbling. Once discharged, I will still have my credit rating flagged for 3 yrs but can work to improve it during that time. One thing I do know is I will never ever ask for a credit card amount for more than I think I can safely handle and I will only ever have one card...I think I had over 10 on the proposal.
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Old 08-25-06, 09:27 PM
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is overwhelmed
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We are! I posted on the other message how much we are in debt. I don't count our home, because if that sold we would actually make a ton of money, we still owe $92,000, bought it for 95K, but it is listing right now at $265,000. Anyway the biggest part of our debt is my student loans. Granted I needed to put myself through college and if I hadn't I would have the job I have now, but we need to get rid of that debt asap.
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Old 08-25-06, 09:42 PM
range's Avatar
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wow one more month that is great..
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