I am the poster child for the effects of debt. (Constantly worrying about money, robbing Peter to pay Paul, etc. ) Well, not really, I guess. There are people in much worse shape than me. My debt is annoying and keeps me from doing all that I can do. If I didn't have debt, I would actually have quite a bit of money left at the end of each month. Makes me sick to think about it. But I am not losing my house, etc., so I am not in as bad of shape as some.
But I am where I am. I don't seem to be making as much headway paying it off as I hoped, but I am not adding to my debt, and I guess that is progress of a different kind. After I pass the bar exam, I am really going to work at ways to make some extra money and to save money. I just need to make enough more that I can see some headway.
But never--through all my dumb mistakes with money have I considered bankruptcy. I never did and never will go that route. I have wanted to avoid bankruptcy at all costs. It is just the way I am. Not saying that people who declare bankruptcy are bad. It is just not for me. I wouldn't want the shame, and I do think I would feel shame. I would want to take care of the mess I created. And I wouldn't want a bankruptcy to dog me the rest of the life the way it does. If you are considering bankruptcy, click the link above to see some alternatives. The site offers great explanations of bankruptcy terms and procedures and what it would mean for your life. And it shows you how you can be debt free in five years. A much better plan in my mind.
