First of all… I can breath. It’s like I have been holding my breath.
An expensive lawsuit, fourteen years of ridiculously expensive childcare, high cost of living, bad real estate choices and a horrible economy were the major cause of my demise. Poor saving and spending habits were significant contributors as well.
I just kept thinking that the economy would get better, that I would get a raise, that I could catch up. I kept throwing whatever money I could at the debt load and then turn around to find that I needed something and I had no money! I never created a safety net.
I am not 20.
I am not 30.
I am not 40.
I am 52.
No raises, No equity, Underwater mortgages, Debt load galore, and Aging with chronic illness. That is a recipe for long term disaster.
There was no light at the end of the tunnel. The stress alone could kill anybody. In order to get back on track, I had to file. I had no choice.
I have learned so many lessons here. This BK will count. I will be the poster child for Chapter 13 success.
I can now work for the 15 – 20 years, health permitting, be out of debt in 5 years, put some money away for emergencies, retirement, a wedding or education or both.
If this works, in 5 years, we will be able to move forward. My daughter and I have both been given a second chance.
What now? I scrimp, I save, I blog my way through my payments, I keep my nose down, I put one foot in front of the other to the light!
Tomorrow, I’ll blog about Student Loans & Chapter 13.