debt
I walked into my apartment today and did the usual things: I dropped my coat over the back of a chair and threw my keys on the table. Today though, something caught my eye. It was a stack of envelopes sitting close to where my keys had fallen. I knew I hadn't been to the apartment in a couple of weeks after taking some time off for summer vacation to visit with family, but I had no idea my mail would be piling up like this. So I did the natural thing: I sat down and started painstakingly going through each letter. Most of them were credit card companies, talking about debts I owed from way back when I was in high school. There were a few letters from my car company, talking about payments I owe on my car. And I had taken out some bank loans at the beginning of the year to cover expenses (I'll admit some expenses were not really necessary), which I was going to need to start paying back soon. What was I going to do?
My roommate had told me before that I should be careful with all the credit I was using. But I had brushed her off, saying she didn't know what she was talking about. After all, I knew what I was doing, or at least thought I knew. She had said that if I kept on the way I was going, they were going to repossess my car and I would have to be enrolled in some debt consolidation program like all the people you see on TV who want to file for bankruptcy but can't. I know I won't be filing for bankruptcy because I'm sure I can't under the new laws, and I don't want my stuff repossessed. I like my car! The only option I thought I might have a chance with was debt consolidation.
I had to do a little research to find out what I was really getting myself into because when my roommate had mentioned it I had a brief idea of what it was but couldn't really be sure. Debt consolidation is when a person has many obligations and many bills to pay so they consolidate, or merge, their payments into one simple monthly payment. The idea is that you keep track of your payments and you get out of debt quicker and easier.
I'm going to have to do a little more research into this whole debt consolidation thing before I really commit to it, unlike how I've been doing with my credit cards and loans. I knew that before I had really just accepted any offer they gave me, and didn't take time to see what was reasonable and what wasn't. My irresponsibility with financial documents had gotten me into this mess. But now that I realize I can't approach important business that way, I'm going to look into what different programs are available and even if any other options exist besides debt consolidation. Hopefully I'll see an end, or at least a solution, to this problem soon!