Hello
My name is Will, and I am currently $63,962 in debt.
Yes, you read that right. $63,962.
And believe it or not, this does not include my car payments or my mortgage, all of which are secured debts, and in many cases considered "good debt". No, sadly, this is bad debt, mostly from credit cards, and partly from a debt consolidation loan that I took out.
Why, you ask, am I this far in debt? I hope to answer this question for myself as well as for the universe, which is partly why I am starting this blog today. What I will say first of all that, yes, it is my fault and my doing. I want to own it and deal with it.
In all, I have three goals for this blog.
1) To help myself to come to grips with my financial demons, both by writing about it and maybe hearing comments of suggestion or support from others.
2) To chronicle my path out of debt (assuming I get there) so that it will be firmly implanted in my mind and I will never allow this to occur again.
3) To see if a little experiment will work. It starts with a plea, and ends with a pledge: First, to see if other people who have been through some of what I have been through would help me get out of debt, and second, my pledge to match any contributions to my debt relief effort and give that money to charity afterward.
Let me repeat that: If people were to help me get out of debt, I would, and I PROMISE, keep track of it, use it to pay off the high interest that I owe, and then later use my budgeted income to give it back to charity.
This type of statement clearly needs some background and detail, but there it is. My little experiment. If you are completely turned off by now I understand. If not, please read further. There is a story behind the mess.
