Fweeeeee at last - part 3

12:00:00 AM

This is the conclusion. :) I talked about expanding my office income through freelance work and about keeping my lifestyle low-key. I was supposed to end it at part two, but I figured I'd expound a little more on how I finally got out of debt. Aside from making more and spending less, I also explored other ways to manage my debt.
I started by snipping all of my credit cards. Credit cards give people the illusion of having more money than they actually do. They were very helpful to me at the time of the cancer treatment - at the time, I had five credit cards, all of which were maxed out by hospital bills and medicines. Immediately after Mom passed away, I started paying them off little by little, but I had to make sure I wouldn't be tempted to use them for other things so I just gave them up altogether.

As for the amount that was still there, I took a big risk and defaulted on my payments (just to be clear, I don't recommend this - it's really bad for your credit record. But having moved to a new job, I wasn't eligible yet for a personal loan). The credit card interest was killing me, and I didn't want to pay forever. I let a few months pass, and when the collections agents began calling, I negotiated an amicable settlement option for each of my cards. I paid a significantly lower interest rate, and I even got to settle the larger amounts on installment!

My credit rating isn't all too good right now, but it's okay - I want to live without credit cards anyway. I just got myself a debit Visa (from Unionbank) and MasterCard (from BDO) to transact online. :)


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Hello, reader! Thank you for wasting your time reading my blog. I do hope you enjoyed whatever you stumbled upon. :)