Who Says We Can’t Negotiate Our Own Debts?

Thought for today:

Who says we can’t negotiate our own debts?  People who mean well will sometimes encourage an “easier, softer way”, but they don’t have to live with the punch-drunk feelings left from exorbitant repayment plans.

Others will caution against a bad credit rating, but do they know all the facts of our debting?  The late fees, bounced check fees, monthly interest payments with nothing to show for it but a quickly depreciating item we purchased “on sale”?  What good is good credit if it only digs a deeper hole of misery?

A member shares:

Unsecured debt is useless debt.  It is the crux of my problem.  It brought me to my knees and made me cry in desperation, ‘Is there no relief?’

“Mercifully, I found the answer to that question by surrendering to the fact that I had this compulsive debting disease.  I took a one-month moratorium from my debts, writing a letter to each creditor explaining that I would be in contact with them, to get my head straight and some clarity on my financial situation.

“Then, armed with a Spending Plan that put my needs first, I started making tiny payments that honored my debts in a way that did not deprive me of my dignity and my ability to survive and thrive.”

A word about credit ratings:

When we were in deep debt and unable to make payments, we didn’t worry about credit ratings, because we are able to accumulate and pay with cash, and we weren’t planning on buying anything with secured debt for a long time.  “Providence” took care of our basic needs as we put “First Things First”, and cared for ourselves.

We negotiated with creditors from strength, with facts to back us up.  When asked, we told them what it cost for us to survive each week.  We made clear what could be paid, and what was beyond our means.  We wanted to honor our debts, but we owed ourselves a decent life too.

If we decided to “settle for less” than the total amount of the loan, we did so knowing that our credit report would show that.  We also negotiated how much of a discount would be reported to the government for taxation purposes.

When we did these things, and stuck to our plans, regardless of the flack, we gained credibility with our creditors, and with ourselves.  Self-esteem improved.  We eventually found that our Higher Power was doing for us what we couldn’t have done alone.

Ask:

Do I have payment plans that put my needs first?

Meditation for today:

The more we live in the light, the more of a habit it becomes.

Affirmation for today:

“I will care for my needs first, before my creditors’.”

How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous

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