I just thought I would update you all on our getting out of debt journey. Things has been going very slowly with getting out of debt and also seems like it has gotten harder. Yes we have gave up some things to help get out of debt but so far it still has been a struggle. So like the last part of May I got to looking for some settlement companies and I found one that seems to be pretty good. Yes I know what some may think that it is a lazy way of getting out of debt and that you are adding more debt to your already debt but I really do believe that is not the case.
With this company we already settled one debt. Okay, let me back up a little and tell you how this settlement company works. You start like a escrow account (To me it is like a saving accounts also) with them that goes towards your settlements. You have a set price to put in that account. Like right now I have paid in about $800 since June and have one settled debt that will start coming out of it I want to say today. Yes, one of my credit cards has been settled and now they are working on the others. The one thing that a settlement company will not do is help with the secure loans ( like student loans, and car loans and mortgages). Yes, there are fees that you have to pay but I can tell you this that with my first settlement and the price of the companies fee for them working with you still does not total more then what the debt itself was so we are still saving about $2200 on that whole debt. So to me that is a good deal.
I cannot tell you what it actually feels like to see a debt being settled. It feels like a weight has been lifted off my shoulders. Yes we still have lots more debt to take care of and we will get them took care of but I can say this that in June of 2018 one debt will be completely took of as there will be no more of it at all. So just a little under a year it will be gone. I think with this settlement company we have estimated it will take 3 to 4 years to have all my debt took care off. So cannot wait. We are still working on Mike's (which it all is both of us but some is just in my name and some is in Mike's name. ) We will be done with our debt journey I want to say hopefully by 2022, at least that is hope. Actually I hope it is before then but I am trying to be real here lol.
I will keep you updated on everything goes (and if you want to know the name of the settlement company please let me know)
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