Even on graduation, I was literally reeling under the huge loan that I had taken. I knew that with my college degree, I would be able to get stable employment as well as a hefty salary. Then my first credit card arrived on the scene. I did not even bother to check how much it would cost.
Within two years of working as an executive assistant, I was already drowning in credit card debt and have not been able to pay off my mortgage and insurance premiums. I even coined a nickname for myself, debt delinquent.
Avoiding one’s creditors is something that many people resort to. If they can’t reach you or find you, you’re safe, right? WRONG! But I have found that it is much better to sit down and have a chat with the lender to see what options are open to you.
If only I had taken the time to talk to any one of my creditors, I would have been given a chance to pay them off instead of filing for bankruptcy. Some of us do learn the hard way.
The point is that you will have to repay the loan eventually. Your bank will want some of the money that you spent on your holiday sprees. The lender that you are dealing with might just introduce some...
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