Wednesday, December 31, 2008

Debt.

That's such an ugly word, isn't it?

Debt. It's something that I've always been rather desperate to stay out of. I know, I've got a mortgage, so I'm automatically in 'debt' but then again, a mortgage is considered equity, and as such isn't quite so bad.

The hubby and I hit a bad patch a few years back. See, I have a habit of not saying NO to him when he wants something. So we ended up running up a few grand in debt. It was problematic. Not so bad that we were going to lose the house or couldn't eat, but bad enough that things like going out, or buying 'stuff' was completely off the table.

This was when we ended up meeting with a few Debt Solutions specialists. They basically helped us set up a budget that if we stuck to it, we'd be fine. Everything would get paid off, and we'd be back to an even keel again.

Now, since we weren't that bad off, that's all they did for us. For others that had been in a similar situation, they first negotiated a lower settlement amount for payment, and consolidated all the payments, making it easier to handle the debt load, and so there would be light at the end of the tunnel.

very cool if you ask me.

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