Going homeless to get out of debt
Susan took an unorthodox way
out of debt – she decided to become homeless. Here is what she did:
• She gave up her apartment for a year and slept on various friends’
couches.
• She used the rent money to pay down her credit card debt.
• She successfully negotiated with her creditors to have her debt
reduced to a more manageable amount.
• She gave up her car and walked or cycled to work.
• She worked two jobs over Christmas so she could afford to buy her
family presents without borrowing any more money
Here is the story of a family becoming free:
Video: How a Family Became Debt
Free
Leaving the country
Ann was faced with over $10,000 in credit card debt that she could not pay, so she ran. She ran all the way to Korea.
- She left the country without giving her creditors a forwarding address.
- She then spent the next 10 years teaching English in Korea, unburdened by past debts.
- She now lives in Saudi Arabia, but travels to the US often. The creditors have written off her debt and have not tried to contact her since she emigrated.
Starting your own business
Karen was so much in debt that she could not dream of buying a home. The only thing that made her happy was making balloon animals for the neighborhood children. One day, Karen decided to turn her hobby into a business.
- She started a children’s party business.
- In addition to her fees, Karen made excellent tips. The parents who hired her could see how much she loved the work. They appreciated her enthusiasm.
- Within three years, she had paid off all of her debt.
- The following year, she bought a condominium.
Blogging your way out of debt
Lizzie was overwhelmed by her debt. In addition to her massive student loans, she had maxed out three credit cards. She started blogging out of frustration. Pretty soon, she had hundreds of loyal readers, many of whom were in the same position as Lizzie.
- Lizzie’s blog became a source of income.
- First it was just a trickle of pennies.
- After a while, the ad revenue from the blog site was more than Lizzie earned at her day job.
- Lizzie expanded the blog into a website that is now her full-time job.
- Lizzie has paid off her student loans and is now working towards paying off the credit card debt.
Video: Stories from Debt Free
People
Helping other people start a family
Katie was desperate to pay off her debt. She was a single mother with two kids, struggling to make ends meet. One day she heard about a fertility clinic that offered money to women who were willing to donate their eggs to infertile couples.
- She had to go through a series of physical and psychological tests to determine if she would be a suitable donor.
- Once she had the clinic’s approval, Katie went through with the procedure.
- She has donated eggs on three different occasions.
- She used the money to pay off her credit card bills and move her family to a bigger apartment.
- Her kids now get to go to a better school.