Just an Update

[bminet]

I am 10 months in on a 100% payback. There have been good and bad times. Vehicle repairs and kids school demands have been the most costly and created the bad times. I know everyones budget is different, but how I am managing my plan is with a cash only solution. Because I had to include "all debts" I was overdrafted in my bank account and was advised not to pay. This lead to my bank placing me in the ChexSystem, therefore obtaining a local account in my area is not going to happen. I obtained a secure debit card to use to pay my utilities and my general operating money is strictly cash. Cash sales this day and age cause the clerks to hold up your money to see if your passing counterfit bills, but none the less, when the cash runs out you are out. No worries about overdrafts and it forces you to budget conservatively. Many feels this is an odd way to budget and save, but coming from a person who was constantly paying overdraft fees, late fees and more fees, I am today fee free even with my secured card. You would be surprised how much you can save by totally eliminating fees from your life. Also since filing, I rarely get mail. My box used to be full of hate mail from creditors and now its just an occassional junk add. I can safely answer my phone now without the fear of an unknown person on the other end threatening me for money.

The first 10 months have went pretty quick. it is actually starting to slow down a bit and I know life can change and my now happy medium could turn down quick. Even after 10 months I am not really saving much. but I am starting to save. At least I am not broke 3 days after payday, like I was for years. I am still getting used to being disciplined on my budget, but I definately see light now and I am no longer embarrased about my finances. For me, 13 was a good thing and probably something I should have done 5 years ago. I know I have read others whose stories are not positive and I am in no way trying to "gloat" my case, but I seriously think it depends on how good your attorney works for you and your own self discipline to want to suceed.

I just wanted to add my personal experience so far. A lot of bad experiences have been posted recently and I wanted to provide some hope out there. It is tough and yes I have had to operate my family on $100 a week on occassion, but my bills are paid and we are planning our first vacation in 3 years.

[tobee43]

you should be so proud that you are accomplishing what you set to do!

kudo's to you!

[AngelinaCat]

Congratulations!!!

[dmc-2008]

You sound like you are doing great! You r a couple months ahead if me i think!

[spidge]

Good to hear you are weathering things OK.

[bminet]

Thanks all. A lot of my problems were brought on by me in the first place as a result of medical bills. Behind on everything for years, I have used payday loans and even a few years ago I actually had 3 of those payday loans. I even used that Cash Call place for a loan in the past because I was so desperate at times. Combine all that with constant overdraft fees because of all those places..UGH. I was one time to the point where I would get paid one day, pay those places off, turn right around and reborrow the same or more just to try and get most of my paycheck back. I added up my fees one time and I was paying over $400 a month just in fees....crazy...I could NOT get out of that cycle. Finally, a year and half ago I broke it. It was seriously like breaking a habbit, only thing was the only way to break it was go completely broke for a month and jusy pay off those places. Right before I filed the 13 I was starting to come back, but still was battling the constant overdrafts. I was overdrafting on purpose, not because I couldnt keep track of my account. Bacisally I was still doing that payday thing, but now only by using the bank instead. One thing led to another and I was now faced with a garnishment for $6000. There was no way I could accept this garnishment and still be able to do my every two week whirlwind with the bank, so I sought relief with C13. I have to seriously say, that this has definately been an outstanding decision for me and my family. I still pay out about the same for my secured items, but where I am saving and seeing the benefit is I no longer have any fees, period. I was even paying up to $50.00 every month because I was always a month behind on my utilities. $5.00 late fee for this and $15.00 late fee for that...It was insane to sit back and realize this. It is no wonder I was going in a circle. I am certainly not happy about the C13, but at least I can now breathe. Today, if my fridge blew up, I can at least go buy one, yes, it would suck, but it would not set me back to where I could not afford my vehicle payment becuase of it.

So, just my story, as I said, but I know several on here dont really feel that way, but I think each situation is different and for me, it has been nothing but a benefit. I have no learned to accept living without my C13 payment. It definately sucked the first few months, but now I dont miss it so much. I know in 3 more years I will get a huge raise when its over....lol. so for those down, I sure dont mean to gloat my story because C13 does create a hardship. But the way I see it, my hardship was worse by NOT being in C13...

[tobee43]

thanks so much for sharing that story! i have to say i am rather intrigued about these payday loan things, personally, until i can to this site i had never heard of one. your story is living proof they most certainly can be the beginning of the end for some. scary getting in that type of cycle!

so glad it all turned out well for you and best of luck to a clean slate!