Thursday, September 3, 2009

Bad Decisions/Finances

Well I don't even know where to start. I am drowning....... My chin is just above the water but I am losing momentum and I am sinking.... You ever feel this way? Well that is pretty much how my week started.

I just never had the kind of parents who taught me about finances. And of course neither did my husband. We have made some seriously silly decisions about money in the past 10 years. The last 5 together and the 5 previous seperate. We came together with baggage and proceeded to make it worse!

Well earlier this year we decided we were going to file bankruptcy and "start over!" We both thought that would sovle ALL our problems. We have not done that yet. I never really told anyone about it much. I knew it was a horrible thing to do, but I have no other choice right? Well the beginning of the week my thinking was turned upside down. I was told that would be the worst decision ever and before I do anything STUPID I better do some more research. I did.... And here I am writing about it.

I found that statistically my hubby and I would probably divorce during the process because it's highly stressful. (We wouldn't of course) It's pretty much blasphemy in God's eyes. Lastly, it's not really over after 7 years and it's not as easy as it sounds. There was more but this was the jist of it all.

So, we decided that bankruptcy is not for us! Thank-goodness right?!?! We are just going to pay it all off on our own! What is so funny about this whole situation is if you know me you know I am a frugal girl through and through. This is just silly and I know better! I squeeze dollars out of pennies. I am going to take that approach and pay off everything! My goal in 5-7 years is to have all our debt/collectors paid off! The only debt I am willing to have after the 5-7 years are up is a mortgage. PERIOD! We don't have a morgage now becase we rent, and now we will be doing that for a longer than previously planned.

I called the 3 credit bureaus and requested my husbands and my credit reports. When they arrive I am going to here on this blog journal through this process. They said about 10 days for arrival so bear with me until then. You will be as curious as I am to see what the actual amount owed to everyone is! I am excited to begin this fullfilling journey the way God would want me to. He was not pleased with us getting into this situation, but he will be pleased on our process out!


Anonymous said...

OK THIS IS SUCH A GREAT IDEA! Do you realize how many people will benefit from your being so open and honest?? I AM SO EXCITED MYSELF TO WALK WITH YOU ON THIS JOURNEY LISA!!!!


God WILL be pleased!

Elizabeth Olive said...

Good for you!!! My husband and I did that when we first got married and now we are debt free and saving to buy our first house.... YOU CAN DO IT! In two years we paid off close to $20,000 in debt! I will be praying for you!

Lisa said...

Goodness I hope it only takes us 2 years! Thats would be such a blessing!!!!!!!!!!!!!!!!!!!

Laura said...

I had money troubles a while back and have learned so much over the last 3 years. We will have to talk about it next time i see you. You can do it Lisa! I am so proud of you, bankruptcy is not the way and you will do it because you are determined and have the power of God in front of you to lead the way!!