Latest Posts
Home > Ask The Get Out of Debt Experts > My Debt is Freaking Me Out. – Jen

My Debt is Freaking Me Out. – Jen

“Dear Steve,

I have a lot of debt, well I think it’s a lot anyways. I think it’s somewhere along the lines of 15K in unsecured debt. I am not late on anything and haven’t been in a very long time. I have a bankruptcy that was disharged 12/2002. The amount of debt is kind of freaking me out and I get worried that I wont be able to pay all of my bills if something suddenly came up. I would like to know more about debt counseling and/or consolidation. I really don’t know what would help me and I don’t want to damage my credit as it took me a long time to get it to where it’s at now because of the bankruptcy. Any help or advice would be greatly appreciated.

Thanks!

Jen”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Jen,

Thanks for writing me for help.

I see you’ve reached that magic tipping point where the level of debt creates an uneasy feeling and concern. Everyone has a different number where those emotional feelings set in.

Tackling getting out of debt is fundamentally simple and that’s easy to say, but hard to live through. It’s just applying more than the minimum due on a consistent basis and in an optimal way to maximize your debt repayment dollars.

But for most the struggle becomes making cuts in current spending or increasing income to free up those needed debt repayment dollars to apply.

Your “freaking out” feeling will be a detriment in getting out of your debt. It will lead you to an all or nothing proposition of applying all your extra dollars towards debt reduction. That’s not the right approach.

The better approach is to both save and dig yourself out of debt at the same time. This way you start to build an emergency fund, really just a boring old saving account, in which you accumulate cash to use in an unexpected demand occurs.

By having this cash on hand you can actually use that instead of some unanticipated expense landing back on your cards and eroding any debt reduction progress you’ve made.

I don’t think it sounds like it’s time to panic, but more that it is time for us to implement a plan to solve this.

Any idea what you credit score currently is?

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

My Debt is Freaking Me Out.   Jen
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

My Debt is Freaking Me Out. - Jen by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.