The 5 things I learned being in debt

Gemini33

Hi again,

I would like to share with you 5 pieces of advice I have learnt on my journey from when I first started. I am sure most of these are common knowledge its just frustrating to me to see the same mistakes still being made.

1. Don't bury your head in the sand - As much as you might want this to, your debt will not just vanish (unless you are a freeman with an impeccable ability and understanding) your problems will not go away and ignoring your debt will magnify the problems and cause you more debt. Alot of people on here advise people not to ring the companies, if you are genuine, I see no problem ringing up the companies to explain what happened. Yes you will have a few bad companies but generally speaking, they are very understanding in 80% of the the debts I personally had.

2. Dont sit still - If you are unemployed and have too much time on your hands, then you are in a perfect position, get fit, stay walking and get organized. Even if you have minimal resources, I walked for hours on end in a pair of shorts and trainers with holes in them in the cold and wet winter days in England all because I could not afford to get new stuff. Staying active will keep you alert and help you in ways you could never imagine.

3. Be In control - Ignorance and being in control need to be understood more clearly, Ignoring everything will make things worst and create more debt. Being in control means you have the right not to have phone call after phone call every single day, what most debt collection agencies need to realise is that even though they are allowed 1 call per 24 hours, if you are in debt with 10 different companies, that's 10 calls a day! Who really wants this along with the letters and people knocking at your door? No one, so get in control. You are not required to give them any telephone numbers, simple refuse. Keep in contact once a month by phone and follow it up in writing. The idea is you will communicate with them when you want to discuss business.

4. Learn - Being unemployed gave me the opportunity to research as much as I could, learn and get busy gaining something of value. You are in debt, in order to get out of your debt, it is a good starting point to understand what debt is, how it is created and methods of reducing your debt. Also start a hobby, learning is key here. The saying goes "as you read, you write" I used to find that after reading a book, if I rang any of the debt collectors, my tone of voice was calm and I spoke more influentially. I started taking apart electronics for fun, I now earn a healthy income from my hobby fixing computers etc.

5. Stay positive - Yeah, Yeah, Yeah, I know how hard this is, the fear of loosing everything leaves a soul in your hole. I understand how stressful this can be but I can assure you, the less you stress the quicker you will be out of debt. It is not the end of the world, just the start of something beautiful if you want it to be. Watch comedies, remember to smile, everyday read a positive affirmation and learn from others who have pulled themselves out the debt dump. Work on your confidence everyday, I was out of work for nearly 2 years all in all, It really knocks your confidence and strips you of your integrity. If you say the right things to yourself, this wont be an issue.

reallyAnnoyed_2

5. Stay positive - Yeah, Yeah, Yeah, I know how hard this is, the fear of loosing everything leaves a soul in your hole.

Good advice, by the way (especially about learning). :k: