My husband (Joseph) and I made the decision to share our testimony of how we got into and the steps we have taken to get OUT OF DEBT. We share this story unashamed, without guilt and with hopes that our story will challenge others to make that decision (as hard as it may be) to get out of debt with GAZELLE INTENSITY (Dave Ramsey)
Here it goes…………………….
At the age of 19- I field for Chapter 7 bankruptcy.
At the age of 20- I had my baby daughter Ny’Dia (Single mom in Debt)
At the age of 24- Hubby and I got married, I was in a Chapter 13 at the time and hubby had filed Chapter 7 before our marriage. (Married In Debt) Hubby had good credit but at that time he wanted to please me so we slowly allowed ourselves to get back into heavy debt.
Moved 8 times, Changed Schools 8 times. Stay at home mom, Work Hard Hubby/Dad.
Around the age of 26, I had already maxed out my student loans because I enjoyed getting that huge financial aid refund back each semester.
At the age of 27- I started my own business, grew a successfully VA team of over 15 women. (BUT Still in debt)
At the age of 28- I closed down both my businesses to focus on what mattered most: My marriage, my family and being debt free.
Around the age of 28- Hubby followed behind me and max out his loans as well.
Welp, no more school refunds and no more college even though we only had 9-10 courses left between the two of us.
Struggled to make ends meet, and my Chapter 13 got dismissed because we couldn’t afford the payments. Got behind again on credit debt, medical bills and ended up filing for a Chapter 13 again TOGETHER.
At the age of 30- We converted our Chapter 13 into a Chapter 7 because HEY rich white people do it all the time. (that was our mindset)
Got back into more credit card debit, more medical bills, and consolidated our student loans into one and currently no payments because of the income.
At the age of 31- we have been in our apartment for a year and half (no moving for a year now, and finally seeing some light at the end of the tunnel)
Student loans, (136,000) medical bills and car loan still due.
Many thoughts of divorce. Many discussions of divorce. Many tears. Many arguments. Many struggles. Many decisions. LOVE outweighed them all.
AND NOW At the age of 32- (4 KIDS LATER AND ANOTHER ON THE WAY) We are now on the Dave Ramsey’s Program. Have put aside our $1,000 Emergency fund. Have paid all of our monthly bills up to current and now working to pay off all of our debt. We have cut up all of our credit cards, (no we don’t need credit cards to survive)
We were close to buying a home next year (2017) but GOD said NO!! Get yourself in more debt then you already are? NOT A GOOD MOVE.
We are now off Food Stamps and our kids are now off Medicaid. We relied on the system on and off for 5 years. (We now pay for our health insurance)
How did all of this happen? Carelessness, Laziness, Lack of Self Control, BEING IRRESPONSIBLE, Lack of Focus, Immature, NO BUDGET, NO PLAN. NO SAVINGS. Did you know that your FICO score is there to show debtors how well you take care of your DEBT? It’s not there to show others debt FREE you are. Let that thought sink in.
Hubby and I are living witnesses of how real the struggle is. We could have given up on each other. We could have thrown in the towel but we didn’t. We made the decision to get our mindsets in order and work together because we got into this mess together. It may be 2-4 years until we see the debt snowball show 0 but I can guarantee it WILL BE DONE. Don’t allow anyone to tell you that being in debt is LIFE. Don’t ever let anyone tell you that it’s cool to be in JUST A LITTLE BIT OF DEBT. God hates when we are slave to the lender. There is NO SCRIPTURE that says that he loves debt. NONE. Make the decision to get out of debt one decision at a time folks. You can do it. We are doing it and will finish this RACE WITH GAZELLE INTENSITY. We are now full time work at home parents with hubby enjoying his side gigs with Uber and Zoomer. Life is becoming better each day.