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I’m deep in debt and trying to dig my way out. I used credit cards to supplement my declining income, what a mistake! So now I have very little income and credit card payments that are more than I earn.

What I have tried is Debt Counseling, where a company for a small fee each month, negotiates with the credit card companies a lower interest rate, I send money each month to the Counseling company and they pay the credit card companies. That will not work for me, not enough income.

Next I called a Settlement company. For a large fee the Settlement company negotiates my total debt down with the credit card companies, so that I owe a lot less . This didn’t work, again not enough income. So I am on my own.

I had started to hate the phone. When I miss a payment the credit card companies start calling. At first I looked at the caller ID, if it was a credit card company or I even thought it was a credit card company, I wouldn’t answer the phone. At some point I did start answering the phone, getting ready to “Face the Music”. I am surprised and relieved to find that the credit card companies are quite understanding. I explain that my income has decreased. Most ask how much I can afford, I do believe that the credit card companies will take any amount, verses nothing. At this rate I will never live long enough to pay the credit cards off, but at least I am trying.

On one of my credit cards I am on a “hardship” case, I pay a small amount with zero interest for 6 months, this will help pay my credit card down. Other companies have started to offer similar offers, and at this point I will be talking to all the credit card companies and see what they will do for me. Of course I will no longer have these credit cards and at first I was reluctant, as I thought that my credit cards were my safety lines, but in fact the cards were the thing that caused me to drown in debt. Silly me, I can’t use my credit cards now, plan on not using them, my credit score is terrible, so why do I want to hang on to little squares of plastic that have caused me misery.

I am cutting my other spending drastically. No eating out, not even a coffee. I don’t go into any stores, trying to resist temptation. I am very surprised on all the impulse items I was buying, that I really didn’t need.

My journey is just beginning, it has not been an easy one and I don’t expect it to get any better, but in the end I will feel much better.

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