Confession Time

While I was planning on doing my April goals and going over my March goals, I have a confession to make.  I was incredibly stupid when I was younger (not really a surprise) and even though I’m trying to get on top of things I made a mistake a few months ago.  I forgot about a loan company I was working with to come up with a reasonable payment plan.  I had sent in the application so I could try to get my loan out of default status but at the same time I was working with another company to get another loan under control.  I was also looking for a place in town that we could move too.  

Long story short, after sending in the application I forgot to follow through.  I had come to an agreement with the second company and have been faithfully paying them every month.  I’ve had a few issues with them where they don’t get the paperwork I send in until the third or fourth time but when they have an issue they leave me a message on the phone number I’ve given them and they do it after 5pm.  And I get back to them.  Well, I’ve had a few messages that are just hang ups—like we are getting the tail end of a message with no substance.  And the phone numbers are always blocked or restricted so I can’t even call the number to find out who it is.

Then last Friday I received a call at work (and that bothered me too) that they were going to be garnishing my wages.  I almost started crying in the middle of my office cubicle.  I was frustrated enough dealing with a report at work and then I got that call.  I had forgotten about it but I knew I had been waiting on the company to contact me—I just hadn’t put things together.  I was able to get them to give me until Monday to send in my pay check stubs before they put in the letter to my payroll department to start the garnishment. Needless to say I wasn’t really happy this weekend—I was busy trying to figure out what I could do. 

Turns out that I can’t build a time machine and go back to make better decisions—though, that would be extremely helpful, right?  And there is no reset button to remake my choices.  So I sent in my pay stubs and worried over everything until I heard back from my contact at the company.  Turns out that I didn’t get my paychecks garnished but I do have to pay $250 a month.  This is not that bad as long as I take out half from one check and half from the other check.  It’s not that great either but I will still be able to save money for the wedding and a few other things.  Now saving for my e-fund will be a bit harder—we are not going to have that much money left over after every pay check.  But we are going to cut back where we can and just push onward.

The good part about doing this is that after 9 months I will have wiped out the bad charges I let rack up and the debt will be in good standing again.  So that will be nothing but helpful for us.   I just wish that I had remembered about this earlier and followed up with the company.  It would have saved me a weekend of worrying and of course, I would have been partially through the 9 months to get that loan in good standing.

I had to confess to you guys though.  I feel so guilty for even letting my debt get this bad and then forgetting about following through.  


14 Comments on “Confession Time”

  1. The Happy Homeowner says:

    I think the biggest takeaway here is that you’re being responsible now, so keep moving forward! We all make mistakes and have oversights; don’t let bring you down!

  2. oh god, this story makes me want to cry, too! i’ve been there. good job seeing (in just a few short days!) the bright side.

  3. These kind of things happen but at least you’re looking at it the right way now! Just keep hacking away at it and soon the debt will be gone.

  4. Hey hey cheer up buttercup! Don’t be too hard on yourself. Although I know how this happens…because I am the same exact way. It is good to recognize what you did wrong and why it happened, because you can learn from your mistakes. What’s great is that you are taking care of things and everything has been sorted out. In a few months, this will be done with! So good job 🙂

  5. The most important thing is that you are learning from your mistakes and not dwelling on them. Too many people get wrapped up in what went wrong, and that can turn into analysis paralysis but the best thing you can do is accept what happened at face value and work on solutions, which you are doing. So keep on fighting the good fight!

  6. Hey, it happens! I made a huge mistake last month, too! And, because of a nasty incident with my ex, I’ve had my wages garnished. NOT fun!

    I think you’ll feel better knowing that you put everything out there to make this blog as honest and forthright as possible. It’s important to let others know that the road to being debt free isn’t always easy – but there are those out there who are willing to help and be an encouragement.

    Keep up the good work!

  7. belowhermeans says:

    The worst parts are over. Full steam ahead!

  8. […] Remember that student loan I forgot about?  Well, turns out that there was an issue in that too.  I apparently read the student loan summary wrong—or they supplied information on another loan thinking I was going to consolidate them.  Well, that was the plan originally but with the forgetting them issue, this was dropped and I just assumed that all the loans they had sent me were with that company.  This wasn’t true, so again I dropped the ball on my loans.   But I picked it up again a few weeks later when the company who actually owned it, gave me a call.  After numerous emails (I really do need to check my personal email more often….) we were able to set up a time to call each other. The lady I spoke to was very nice and gave me an offer to consolidate that loan plus the ones I had just started paying on.  Sadly, my other loan isn’t able to be included in this consolidation. […]

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