Is There Life After Debt?

Things have been tough on people over the last few years. Thanks to the weird turn that the economy has taken, many people’s finances are out of whack. There just isn’t the same amount of money sloshing around that there used to be.

The result of all this that more and more people falling into money troubles. Their problems aren’t merely financial. They’re also leading to a whole raft of personal and mental health concerns. Spouses are leaving each other, people are getting depression, and it can sometimes seem like there’s no way out.

Being in debt is no fun at all. What’s more, pep talks designed to help you feel better about life are rarely useful if you’re currently in a depressive episode.

The good news is that there are people who hit rock bottom with both their finances and their mental health, only to bounce back and start enjoying their lives again. Here are some inspirational examples of people who experienced life after debt.

Karen McCall - Overspending

To people looking in from the outside, Karen McCall seemed to have it all: the posh car, the nice clothes, and the beautiful house. But the truth was that it was all a mirage. Almost all of the incredible possessions she had were bought on credit, and her debt had been growing her entire adult life as she tried to fuel her spending on her meager income. No matter how much she worked, she couldn’t get her debts under control. In the end, she nearly went homeless.

McCall’s personal problems began to turn around once she stopped spending on such lavish items and set up her own private counseling practice at www.financialrecovery.com. It took her a couple of decades, but she eventually managed to pay back all the money she owed with interest. She now helps to counsel other people going through the throes of financial uncertainty.

Vikas Kedia - Failed Business Venture

Vikas Kedia was an entrepreneur who tried to start up his own business. Before long, he was more than $20,000 in debt and had no income to pay it back, or pay his landlord the rent. His girlfriend took action and started looking on the internet for advice. She found out that by law, he could fight back against the debt collectors and force them to work with him. He found a site like www.BestDebtConsolidationLoans.com which helped him get his own finances under control. Before long, he’d set up his own debt consolidation business and started helping other people find ways to legitimately pay off their debts.

Curtis Arnold - Extreme Credit Card Debt

Back in the mid-1990s, Curtis Arnold was struggling financially. After going on a spending spree, he managed to rack up more than $45,000 in credit card debt. Now he’s put his energy into founding a website which helps students to deal with their financial problems. He helps people to assess their credit score, getting a lot of his income in the form of advertising revenue. Several years after starting the website, he managed to pay off his debts.