The story of my Credit Card Debt starts with the first ever credit card I got from the departmental store in my block.
I bought a pair of shoes and an iPod.
After that there was no looking back.
It was great fun to buy all the stuff that you wanted all the time and had never been able to buy.
With money being elusive as ever this was the best way to fulfill your dreams.
I not only pampered myself with all that I required but showered my friends with goodies.
Monthly bills started rising gradually but paying minimum amount was always a good option.
Within six months I had collected a debt of $5615.
My job was pulling along just okay.
I was eagerly looking forward to the promotion that was promised by my boss.
I had taken good care of the HR guys.
Here again my credit cards had helped me to buy the best gifts for people who mattered.
By the end of the year my debt had crossed $10,000 on three credit cards.
And then the biggest tragedy descended on me.
My company decided to downsize due to the recession.
My allowances were slashed down drastically and I started virtually living from one pay check to the other.
Now, I had not even paid the minimum amount to my creditors for over three months.
Calls by creditors had made my life miserable.
And gradually the truth sunk in.
I was in dire stress.
I thank the friendly advice on debt relief on the Internet.
After following just a few simple steps I found debt relief.
Rule 1.
Do not splurge.
Make a budget.
Rule 2.
Cut down your expenditure.
DO stuff yourself.
Rule 3.
Consolidate your credit.
Put it in one head and bargain for reduction in interest.
Rule 4.
Clear the smallest debt first.
Prepare for the next.
Rule 5.
Go in for a consolidation loan and look for a debt settlement.