About seven months ago, I left my dead-end job for a freelance graphic design career that was doing pretty well for a while.
Sometime in March of this year, the struggle has been real and freelance gigs have been on an ebb and flow. This has led me to where I am now – two credit cards with two missed payments (the only times I’ve ever missed a payment with either of them), a closed credit union bank account due to overdrafts and struggling to make ends meet.
I’ve tried looking for a new job to no avail and am a bit down due to the rejections. My savings are also nearly depleted.
What can I tell my credit card company who’s calling me every other day?
I have very little funds to make a payment arrangement and I have no consistent money coming through to agree to anything. Also, is stopping the freelance gigs and searching for a “regular” job the best option for me now?
Well what you tell your credit card company is the truth, you have no money coming in to make any promise to make any payment. You can politely tell them to stand by and wait.
Or you can just ditch their calls and let your account slowly move through the collection queue until there is a change that would allow you to meet your living expenses and make payments.
The situation just is what it is.
Struggling with money worries seems to just make it harder to land new opportunities. It is always better to push forward out of inspiration rather than desperation.
Your focus at this point should be to focus on income and stop making any payments on debt.
Whatever money you have left has to carry you through to developing new gigs or landing that full-time job.
The debt is easy to deal with once you see a way forward with income. It might just be that bankruptcy will become the logical solution for closing the door on the old credit problems. This will give you a fresh start to move forward.
I think you should grab a beverage, get comfortable, and read “How to Get Out of Debt. The Honest and Unvarnished Truth.” and “How to Get Out of Debt. The Real Truth.”