Rectify Your Mistakes With Debt Management Loans

I always had a fantasy of owning a good sports car but with my limited funds buying a sports car was nothing but an extravagant thing for me. They day that at times, the heart wins over the mind and that’s exactly what happened with me once. This tale is about that experience of my life which taught me the hard lesson of not to make expenses on credit. I learnt, and I learnt it well that if you have to make a personal investment, do it without borrowing, else you will be put into my shoes wherein I had to take debt management loans to clear off all the stains that were impacting my credit score.

My dream came true!

One of my very close friends had purchased a sports car and showed it off to all of us. What a beauty the car was! I being already a lover of sport cars just fell for it and wanted to get one for myself as well, but I knew that my pocket would ot be able to handle it. As luck would have it, I got a bonus of quite a good amount at my work and the desire to buy the sports car got reignited. I knew that the bonus amount was not enough to lay your hands on a sports car, but the desire was insatiable by then. I took loans from banks and finally got a sports car for myself.

Life takes a sudden twist

I had calculated that whatever loan amount I had taken and whatever monthly install I will have to pay would be okay to be given away from my monthly salary. Little did I knew what luck had in stores for me! Just a couple of months after I had got my dream driven into my garage, something happened time which left me completely shattered. My dad fell ill very seriously and I had to spend a lot of money on his treatment. The medical expenses were so high that I had to take loans and borrow money from professional money lenders. As a result in a couple of month’s time, a huge debt piled up against my name.

The amount of debts was so high that I had no clue how would I pay off so many debts at the same time. My auto loan, the personal loans, the unsecured loans all were ready to eat up my peace of mind and my credit score. That is when the idea of going for debt management loans came to my mind.

Debt management loan helped me out

I contacted a reputed credit counseling agency and applied for debt management loans through them. With the debt management loan which was taken for tenure of five years I knew I had time to repay the loan back with the affordable monthly installment that I had to pay. I cleared off all the debts including my auto loan with the amount that I got from the debt management loan and then steadily paid off that debt as well over the next five years. The loan did help me come out of the financial crunch, but also taught me the very good lesson that I should not have spent my entire bonus amount on chasing a dream which I could not afford.

A Timely Debt Management Loan Can Help You Greatly

Never before did I hear of debt management loans till I myself needed one. It was a strange situation in my life, when I was looking for instant loans, and didn’t get even one approval. It was my debt management counselor who arranged for the loan, and helped me survive, or else I was actually shattered totally, and was about to declare a bankruptcy.

Sometimes life really becomes too hectic, and you have no other way but to take the pain. My sister always wanted to become a doctor. But to become a doctor, you need more than merit; you need money too. Since she knew that she was backed by a strong brother, she dreamt her dreams, and never thought of money. But I had to think and had to arrange to make her dream come true.

I was backed by my pretty good running business, and never worried about money with the average middle class life that we led. I was slowly arranging for my sister’s medical course, and she was also at the verge of starting her medical studies. I saved the whole course fees slowly by following several money saving tips, and was happy that I had the funds with me.

The tornado

There were only three days left to her admission to the new course when suddenly my factory got heavily damaged in a tornado. The dangerous calamite affected the whole town, and many more houses were destroyed, trees fell, and roads were totally disrupted. When the roads were cleared and things were being tried to bring to normal, I had to take care of my factory, and make necessary repairs so that I could run the business or else I had no other ways to get finance and live the normal life. Thus I used all the money I had with me as the savings for my sister’s course fees, and yet they weren’t enough. Next I had to look for debt management loans take an instant payday loan too for a quite high amount, and I knew at that instant that I won’t get any more loan after this, as the amount was too high.

My sister’s admission

Due to the tornado her admission dates were postponed a little, and after a week more the dates were announced again for the admission to that year’s medical course. She knew my state, and nothing was hidden to her. That’s why she showed no signs of interest or excitement, which hurt me every moment. But, I couldn’t fail her. It was her dream!

I went to the debt help organizations on my area for help, and they said that at this state also I could get debt management loans, though the terms would be strict, and the interest rates will be quite high. But I never thought of the interest rates or terms, as the money was all I could think of, and instantly agreed to opt for the loan.
Now that my sister is a doctor, and she is doing well in her field, I proudly thank for her, and owe it all to the timely loan that I received when I was heavily debt stricken.

Debt Management Loans Help You Keep Your Credit Score Intact

My name is Sean and I work in a call centre. As a call centre employee whatever I was earning was good enough to sustain my general day to day living. However, a situation came in my life when my peaceful finance boat went into real troubled waters and I had to lose my peace of mind for quite a few days before I took help in the form of debt management loans to come out of the situation that I had fallen into. Here is what happened.

Kelly’s parents didn’t understand

I had been in courtship with Kelly for a long time and now after 5 years of relationship, her parents wanted us to tie the knot. Frankly speaking, I was not at all financially prepared for a marriage. With my paychecks that I got from the place of work I was able to save some amount of money and my savings were not that high so that I could bear the expenses of a marriage and then a reception party. However, they did not understand this and they forced me to get married.

I got burdened with debts

Left without an option I borrowed money from money lenders and made full use of my credit cards and sponsored my marriage event. After marriage, Kelly and I went for a tour or Europe which again was sponsored by my credit cards. As a result of all these extravagant expenses in one year’s time the amount debt that I had against my name grew sky high and I realized that with my limited income I would not be able to pay them all. I decided to go for debt management loans as otherwise I did not have any money to be used to pay the debts off.

Steps to handle the debts

The first thing that I did was I made a list of all the debts from all the creditors and summed up the total debt amount. Then I approached a debt management group to help me out with the debt management loans as otherwise no bank would give me a loan as I already had huge debts on my name.

Thanks to the debt counselors, they helped me get a decent amount of debt management loans with the help of which I first cleared off all my debts. This process was termed as debt consolidation by the counselors. Out here what I did was I paid off all the different creditors with the loaned amount and cleared the debts off. Now I was left with only the repayment of the debt management loan that I had taken from the bank. This was a fairly easy and doable thing for me as now I had to pay an affordable amount of money every month.

I had taken the loan for tenure of 5 years and all these months I have regularly paid off the monthly installment of the loan so it has not impacted my credit score as well in spite of having so much of debt on my account.

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