What happened in your life when all your bills piled up and you got into big debt? How did you fix it?
July 16, 2025
How are you changing your life?
Stopped caring and things fell apart.
6 comments
Married rich.
I actually did.
But I was looking at getting a debt management plan. Pay plan and Steochange offer sollutions for smaller manageable debts.
Married rich.
I actually did.
But I was looking at getting a debt management plan. Pay plan and Steochange offer sollutions for smaller manageable debts.
Accepted that I was in debt and finally stopped being in denial about it. Make sure you have a bank account that allows overdrafts. Try to get your debts refinanced (not by someone like SoFi, but an accredited bank or credit union). My large CC debt was accepted by my credit union which dropped my interest rate down by like 20%. Apply for financial aid programs for your energy, water, or trash bills. I was able to get my electric bill covered for four months while getting my debts under control because the energy company has a financial aid plan. You just have to accept your situation and apply for help wherever possible. SNAP has been cut significantly lately, but it’s still worth applying.
When I was working service industry and juggling bills, I often had to overdraft by $3, sometimes $100, to make sure rent was paid and bills were paid. It was painful and embarrassing and bad for my credit score, but it’s better than being homeless. Rent should be your #1 priority. Credit scores can always be repaired and built up.
Be frugal but realistic. Don’t decide that now you’re never buying a sweet treat again and you’re going to punish yourself and be as bare bones as possible. That’s not sustainable – you might even up giving yourself a cheat day and blowing a bunch of money on things you’ve been depriving yourself of. Set a budget. ***SET A BUDGET.*** And in that budget, give yourself an allowance, even if it’s $5, for something nice once a week.
We decided to get some drinks and put it all on the table. Literally. We looked at all our debt and analyzed it. I felt like I was going to have a heart attack. The anxiety of finally facing our debt was overwhelming. We did the snowball debt payoff and got out. We had negative income for several years that impacted us terribly. It is possible. We still have a budget and stick to it now ten years later and have much more peace.
Paid it back with interest and got a better paying job. But my big debt was about £8k not massive not 5 figures or above.
Grad school and no income.
I’m running out of savings.
Student loans at $140k. I have one more year of borrowing money as well.
My projected income post graduation is $250-$270,000 so I’m just patiently waiting!!
6 comments
Married rich.
I actually did.
But I was looking at getting a debt management plan. Pay plan and Steochange offer sollutions for smaller manageable debts.
Married rich.
I actually did.
But I was looking at getting a debt management plan. Pay plan and Steochange offer sollutions for smaller manageable debts.
Accepted that I was in debt and finally stopped being in denial about it. Make sure you have a bank account that allows overdrafts. Try to get your debts refinanced (not by someone like SoFi, but an accredited bank or credit union). My large CC debt was accepted by my credit union which dropped my interest rate down by like 20%. Apply for financial aid programs for your energy, water, or trash bills. I was able to get my electric bill covered for four months while getting my debts under control because the energy company has a financial aid plan. You just have to accept your situation and apply for help wherever possible. SNAP has been cut significantly lately, but it’s still worth applying.
When I was working service industry and juggling bills, I often had to overdraft by $3, sometimes $100, to make sure rent was paid and bills were paid. It was painful and embarrassing and bad for my credit score, but it’s better than being homeless. Rent should be your #1 priority. Credit scores can always be repaired and built up.
Be frugal but realistic. Don’t decide that now you’re never buying a sweet treat again and you’re going to punish yourself and be as bare bones as possible. That’s not sustainable – you might even up giving yourself a cheat day and blowing a bunch of money on things you’ve been depriving yourself of. Set a budget. ***SET A BUDGET.*** And in that budget, give yourself an allowance, even if it’s $5, for something nice once a week.
We decided to get some drinks and put it all on the table. Literally. We looked at all our debt and analyzed it. I felt like I was going to have a heart attack. The anxiety of finally facing our debt was overwhelming. We did the snowball debt payoff and got out. We had negative income for several years that impacted us terribly. It is possible. We still have a budget and stick to it now ten years later and have much more peace.
Paid it back with interest and got a better paying job. But my big debt was about £8k not massive not 5 figures or above.
Grad school and no income.
I’m running out of savings.
Student loans at $140k. I have one more year of borrowing money as well.
My projected income post graduation is $250-$270,000 so I’m just patiently waiting!!