About Mel

My Personal Struggle With Credit Card Debt

Not too many years ago, my credit card debt got too high.  I reached the point where I could not afford to make the minimum monthly payments. I  feared calls from collection agencies and eventual legal action. The future was grim, and I was worried about where my life was heading.  I needed a solution.

Mel Thompson

Mel Thompson

I had suffered financial blows that led to my amassed credit card debt. I was recently divorced, and my business had just experienced a dismal year. There were times when I was forced to choose paying off my credit card debt or paying child support. Of course, child support was always the priority. In desperation, I began using the checks that often came with my credit card statements. Since my credit was good and the limits were quite high, I did so without a problem, for a while at least. Time passed, and I was forced to keep abusing my credit. My credit rating plummeted, and the limits on my cards were lowered. I looked into bankruptcy, but something held me back. I knew that should be reserved for when all else failed.

Left with no other options, I focused on child support and  living expenses first. I purposely did not pay my credit card bills. I feared repercussions. I spent hour after hour looking into options for someone in my circumstances. In my desperate search for credit card debt relief, I learned many things that gave me  hope that I might be able to deal with lawyers and debt collectors trying to collect on my credit card debts.

For one and a half years, I followed a specific plan:

  1. I stopped making payments on my credit card bills.
  2. I communicated with collectors and junk debt buyers with  written letters disputing the debts and asking for documentation. They passed on or sold my card debts to other collection entities.
  3. As my credit card debts were passed on and sold to other collectors, I stood firm and responded to each of the junk debt buyers with the same letter.

As a result,

  1. I was contacted by some banks offering me lump-sum settlements on my debts for money that I did not have.
  2. I received threats from debt collectors threatening court action. They told me I would be sued if I did not make good on my debt. I never received any of those threatened summons.
  3. 2.5 years after I had stopped paying my credit cards, I applied for a car loan and got it. Bankruptcy would have eliminated any chance for a car loan for a period of ten years.

At this time, I have reached a state where I am back in the black financially, but that took more than a few years.  I was able to avoid ruin at the hands of debt collectors and their seedy practices. My hope is to help others out of similar situations.

The path to credit card debt relief is not necessarily simple or easy, but it is quite possible when you cannot afford to pay. Read my pages and posts, educate yourself, get control of your fears and begin your climb to financial solvency.