After over a year of dealing with the worst stress of her life, Jane finally broke her silence and called her mom to confess that she couldn’t pay her bills and get advice on what to do.
Jane’s mom offered to help her make ends meet and then made a suggestion that Jane just knew she wouldn’t be able to do: some of those credit cards just weren’t going to get paid. Jane’s mom suggested she pick two to keep, the one she’s had the longest and the one she liked the best, and basically screw the rest and start piling up as much money as she could in case they came after Jane and tried to sue her!
At this point, Jane had applied for, and unfortunately received, two more cards to help her make ends meet. She had horrible credit now and the limits were low, $200 and $400, but they were given to her nonetheless.
Jane accepted some help to pay her HOA fee that month and went back over her finances with a fine tooth comb. There had to be another way. She couldn’t default on her debt! She was the one stupid enough to run it up in the first place. She had no idea the minimums would shoot up so high after the introductory rates wore off, but it was still her fault.
She was already getting hounded by one of her creditors for being late. They had been calling her daily for months. To get them off her back, she’d been paying ONLY the interest and late payment fee every month, a fee she accrued every month because, despite borrowing from her other cards, she couldn’t afford to get current on that card. She was too close to the limits to borrow more. She called them and tried to get them to work with her. They treated her like crap. And even doing the best she could do, they still called once a day to bully her.
With all of this weighing on her, she struggled through another month before deciding to let go of that card first.
Sure, her phone blew up, three and four times a day, but she could stop robbing from one of her cards, and that made it worth it.
So, Jane made a list of all her debt, all 8 credit cards and the line of credit, and started making the hard decision on who was not going to get paid. She couldn’t afford to worry about her credit score. Her life was more important than that number, and she absolutely couldn’t live like this anymore.
She decided she MUST pay the newest ones. They had only been open for a couple of months. The one she had the longest had the highest balance and was costing her the most money, but she wanted to keep that, at least for the time being. She had a smaller card with that same bank so she couldn’t pay one and not pay the other, but that wasn’t the one she wanted to keep. So that left at least one more she had to pay, and she felt she ought to try and pay off the line of credit as well.
Through the process of elimination, this left three cards, one of which she had already stopped paying. She went through another month of struggling to pay for everything anyway, refusing anymore help from her parents, and then made the hardest decision of all. She downloaded a silent ringtone from the app store and stopped paying on two more cards.
Every time her phone rang with an unknown number, Jane added them to the “Blocked” contact with the assigned silent ringtone. She immediately stopped using ALL of her credit cards and got gazelle intense once again.
With this money freed up, she could finally get enough traction to start a debt snowball. And now when she flocked to the internet to sell things, it could go towards paying down debt instead of simply keeping her afloat.
A permanent change had occurred in Jane. She was NEVER going back to that dark and broken down palace again.