Posts Tagged ‘ late payments ’

Climbing Out of the Debt Rut: Debtor’s History

January 18, 2012
A Bride digging her way out of a rut

Whether it happened due to a little too much retail therapy, some emergency expenses or just a lack of a good relationship with money and credit, it’s not unheard-of that you have a bit of debt to pay off. Or maybe more than a bit. Wanting to start the next chapter of your life debt-free (so you can turn right around and get a mortgage, right?) is an admirable goal and, depending on the size of your debt and how much time you’ve got before that page turns, it may even be possible! After my first divorce (the one where we divided up liabilities as we had no real assets to speak of) I had a couple of credit cards, a new car payment and a small loan from my boss we’d taken out to pay for car repairs (for the now-ex’s car… somehow that got forgotten in the divvying up process, but whatever). And then I decided it was time to go back to school and incurred quite the student loan balance over those 2 years. After finishing school and going into my chosen field I was so upside down it was scary. Threatening to repossess my car scary. […]

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