I don’t know about you but I am a sucker for a bargain whether it is for the after Christmas sale or the abundance of other sales throughout the year and the must have things that I see when walking around the shops. This perhaps wouldn’t be a problem but like many I kidded myself that it was fine and I would buy this item now and have it paid for by the end of the month.
This was the plan but unfortunately I found myself buy virtual credit card using the card for a holiday overseas and of course you buy trinkets for the people at home, and again you shop with no consideration for tomorrow. When I got back from holidays then the bills would start to pile up one after the other with the exchange rate not that fantastic the bargains when converted from one currency to the other weren’t a bargain after all.
With my other personal bills that were waiting for me when I got back I was barely able to pay the minimum payment on my card, so I applied for another card and then another. It was easy applying when accepted I had hand over fist in credit now and what I ended up doing was I would pay one card off with the other.
This worked for a few months then it all caught up with me, I had maxed the 3 credit cards out I was in debt to the tune of $30,000 with no way that I could physically pay this debt. It was the lowest point in my life, I would ignore my mobile when it showed a strange number which in my heart I knew it was the bank looking for their money.
I avoided opening letters with bank logo’s all over it. I was in denial until I was caught crying one day by my father and I confessed what lie I had been living and how much debt that I was in. I don’t know what I expected from my Dad as I knew he didn’t have that sort of money to lend me but he did ask to see the cards and when I did this is what he did: