My Progress trying to rebuild

QuestionsMy Progress trying to rebuild
asked 2 years ago

Hey everyone!


Its been a while since I have posted, I have been working so hard to fix my situation with my $ 125,000 of debt and it hasn’t been easy but no one ever said it was going to be….


Here’s what I have been doing to rebuild so far……


1) I have been working 3 jobs, sometimes at least 2 back to back in the same day, and also working 7 days a week somewhere.


2) I have been working out payment plan deats with some creditors now that I have had way more income come in and they are as follows…….

– PNC Bank Cashbuilder Credit Card ( 5 year Payment plan)

– Citibank Double Cash ( 5 year Payment plan)

– Citibank Thankyou  ( 6 month catchup plan, then i can call them back to see what other options are available)

– Discover Personal Loan ( Loan Modification Payment Plan to lower payment to a fixed rate at much lower interest and extend payoff by a few years)

– Capital One Quicksilver ( 5 year Payment Plan)

– Nationwide Credit , one of the collection companies on behalf of 2 of my Amex accounts, they kept calling me and even calling my family eventhough i never gave them or amex for that matter their numbers, I called them and worked out a temporary 6 month payment plan of only $ 20 a month per account so $ 40 a month total, which wont do much but it will actually go towards some of the balances since they are not charging interest on the accounts anymore since they where charged off.


3) I looked at my finances really hard and found out how I could make more payments to other creditors that I still have open accounts with, and I actually have been calling some of the creditors each month and scheduling payments, and just recently I have even been having them divide some of the payments into 3 or 4 weekly payments which allows me to pay a little more and even save interest since interest is charged daily, and my 2 Bank of America accounts are almost caught up, and my Fidelity account with Elan has recently caught up and is current.


4) Way back in September of 2016 i worked out a catchup plan for my Discover Card, they gave me a deal to help catch up my account and suspend my card untill i finish the year of payments, and I have been making good on payments with them on that account, I had a problem a few months back where I couldn’t make all of the payment so they worked with me on that and I got back on track and have been on track since and I am almost finished and I have payed off almost $ 2k which Is nice to see.


5) Last year in 2016 I worked out a  5 year debt management plan for my Paypal Extras Mastercard with a nonprofit debt management company, I have been making good on payments with that, there have been 2 times where I had issues making payments but the debt management company worked with me on getting back on track and they have even helped me split my payments in half to be payed at 2 different dates each month which helps keep them payed so they can send it to synchrony to keep them happpy.


6) In between all of this I closed a bank account i had with PNC Bank becasue they where charging $ 7 a month for not maintaining a $ 500 balance, and I figured that the $ 7 a month plus any overdrafts could add up, so I closed it out and moved my main account to a local bank that has a free checking account.


7) Closing out my checking account with PNC helped me save some money to be able to pay a small head tax to out local school district thats required each year by everyone living in the district, I payed it just on time.


8) I have been throwing everything extra towards my car payments to keep it paid and own it the sooner the better, and speaking of my car, just a few weeks ago I passed my learners permit and i have begun to drive my car (I’m 27 and never had my drivers license but needed a reliable way to work since we only had 1 car in the family, and me buying a car and having my mom drive me to work was the answer for many years, anyway long story short, I got my learners permit so now i can drive and work towars my drivers license which once i get that then I can go out and make even more money to get out of all of this much sooner!!!)


My credit score was around 739 before the debt and went all the way down to around 320, and now in a matter of months its around a 389, so i made some progress and still have a long road ahead of me and lots to do to get this better on track to being payed off, but I am glad I have been making progress and i have stuck with it.


I just wanted to give you all an update especially since my previous posts months ago I was talking about ending my life becasue I felt so hopeless, but thankfully I didn’t and I found a way to beging to rebuild and work towards debt freedom and a better life!


i will keep you all updated. Thanks for being here for me! Smiley Wink

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