19 years ago, at 7 am in a near blizzard, I got in my 9 year old Subaru Loyale, and drove 50 miles to bankruptcy court. My lawyer, whom I had met with once, several months prior, was supposed to meet me there.
He was an hour late, citing the weather. He got no sympathy from me. Even the trustee was unimpressed. He pointed out to him that I had come farther, and that I had been on time. I missed my scheduled time because of him, so I had to wait until the end of the regular schedule for my hearing.
I think the trustee felt sorry for me that my guy was such a loser, but that didn’t stop him from levying a $37,000 judgment against me. I had to borrow the money to pay the judgment from my parents, who had to take out a second mortgage on their house to get it. It was 3/4 of the total amount I owed. So much for starting over.
I paid my parents $500 per month for the next 7 years to repay that debt. They wouldn’t let me pay interest. I had a good job, and after a few years I was able to get a secured credit card, so was able to start rebuilding my credit. In 2009, I was able to get a loan to buy a house, and I felt like I was in the clear.
Then my dad died and I moved in with mom. Dad had been ill for a long time, and by the time he died, the house was in severe disrepair. Those repairs, along with the steep property tax owed for the next few years, forced me into credit card debt once again. Given my history, I didn’t make that choice lightly, but neither mom nor I had any savings, so I had no other recourse.
I had built good credit over the years, though, so 3 years ago my credit union offered me a high limit, low interest credit card that I used to transfer all my debt from the other high interest cards.
This past Saturday I made the last payment on that card. As I write this, I have no credit card debt. In fact, the only debt I have now is the mortgage on my little house, cuz last fall I paid off the car I bought 5 years ago. I don’t really consider my mortgage a debt, per se, cuz if I wasn’t making a house payment, I’d be paying rent, so to me it seems like the same thing.
No debt. I can hardly believe that’s true. I feel free in a way I haven’t since I left high school. Student debt that took 12 years to pay off, credit card debt, car payments on 6 or 7 cars over the years, the bankruptcy judgment, more credit card debt; owing someone something has been a constant in my adult life.
Owing, or being in debt is a powerful metaphor. Not only do I believe in karmic debt manifesting in this life, but I think psychologically I always felt I had to pay my way here because I didn’t really belong. As a child and then young adult, I felt that there was nothing here for me; that my presence on the planet was a mistake, and that I had to make up for what it took to sustain me.
I don’t feel that way now, thank goodness, so I’m hoping that my new found freedom from debt is permanent. The tide has turned. The money that was going to debt payment is now going into savings. After 20 years at Acme Health Services, I have a nice pension fund building. I’m hoping to refinance my house soon, and in a couple of years, transfer it to a reverse mortgage or sell it.
So I’ve kind of backed in to a good financial situation. I’m not rich, and I’m probably not ever going to be unless Publisher’s Clearinghouse is involved, but I feel good about my financial future in a way I never have before, and that’s a very good thing. On that day 19 years ago, I never would have imagined this day would come.
I found my way through the blizzard, and I can see my way forward clearly. It took 58 years, but I made it. Hallelujah!