So, today Bradley and I woke up and said "We are going to be adults. We are going to GET OUT OF DEBT!". First we ran our credit reports (for the first time ever I might add), then we called on some non-profit debt management firms. Unfortunately none of the firms we talked to were really non profit. Money Management International ran our credit reports, (which kind of sucks in retrospect because that is another ding on our credit) figured out our monthly expenses, yearly incidentals and total unsecured debt (a whopping 15G's baby). Everything was going great. I was sure that we were going to be taken care of and then WHAM! Our debt consultant said the Red Flag word: "Start up Fee". Whoosh! Another Red Flag: "Monthly Fee". Flags were being raised left and right. This company wanted us to pay a start up fee of $600.00 to have them start an account for us, and on top of it NONE of that money would go toward our initial money owed. Our next month's payment of $525.00 would be dispersed as minimum payments to our creditors. At that rate we would be out of debt in 2012. In addition to paying MMI we would need to: Pay our car payment, childcare, gas and all other "secured bills". No thank you. I think I will take my $600.00 and put it toward knocking out that hefty Victoria's Secret and Express account I owe. Minimum payments are what got me in this mess in the first place.
**Doogie Howser diary scene background music begins to play**
All in all I learned a valuable lesson today, and feel pretty dang empowered. I can take care of this stuff. I think the hardest part about this whole experience was facing the truth that I made some huge financial mistakes. The best part about today was knowing that I am actually taking steps to repair my credit and the realization that I can fix it myself.
"do de de deeee do do"
1 comment:
Good for you! Come fix mine when you are done.
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