A Decade of Credit Card Debt . . . Gone

I know a lot of people these days put themselves in a big credit card debt hole and it is almost impossible to get out of. This debt for me started about 10 years ago when I decided to go for a PhD. I did not have regular work at the time while attending and after a semester I decided it was the wrong decision. This put me in credit card debt because I was charging most expenses because I had little money coming in.

This one choice lead to years of credit card debt because of many factors, but it is all gone as of March 31, 2007. Fortunately, I never paid any interest on this debt because my credit is very good (I received 0% credit card balance transfers and purchases several times). I am also fortunate because it did not lead to other credit prblems as it does with many people. I am grateful to finally be out of debt and come out relatively unscathed.

At the same time (about one month ago) I finished paying off my student loan. That was a relief as well. A lot of money will be freed up, but new expenses have come up since all this good news has happened.

It is possible to get out of credit card debt. It does take patience and disipline.

Written by Nagel on March 28th, 2007 with no comments.
Read more articles on Credit Cards.