Helpful Tool for Folks in Debt

    When I look back now on all the books I read and blogs about personal finance, I had never realized that a very crucial tool was left out of most of these readings.  Have you heard of Debtor's Anonymous?  I would think that it would be one of the first things that comes to mind when someone is heavy with debt.  Maybe it's a touchy subject for some....
     
     So here is my experience with debt realization and Debtor's Anonymous.
    
     I got my first credit card in college for the free stuff. A T-shirt and hat which I never wore.  Very typical, right?  So it was fun for a while.  I obtained more cards and maxed out cash advantages.  What did I care? The monthly bills were low and if I needed groceries, just use the payment I made on the card to recharge.  Then I got the idea that a consolidation loan would solve all my problems. I was so wrong and misguided.  Actually, I wasn't misguided, I just wasn't guided at all.  Fast forward 10 years, and I was struggling.  I couldn't pay my rent one month, let alone my 8 credit card payments and student loans.  *FLICK* The light switch had conveniently just come on.
  
     Ok, so back to Debtors Anonymous.   This is the point where I had my debt realization.  I didn't know who to turn to, and I was embarrassed and ashamed.  Who would I talk to about my debt without being judged? My family members suggested that I seek help with someone who could understand and help me with my problems.  That's when I first heard of the DA program.

     DA is a group meeting type setting for people who want to stop incurring debt.  Most of these types of people are compulsive spenders, people who spend beyond their means, and people who incur debt to continue spending.  DA bases their program on the 12 step program that Alcoholics Anonymous uses.  After your first meeting, they suggest you meet with 2 mentors to list out all your debts and the payment plans.  You pretty much have to answer to someone, which keeps you responsible.  They also have a 15 question quiz in case you still have doubts about being a compulsive debtor.

     The mission of DA is simple: "Our primary purpose is to stop debting one day at a time and to help other compulsive debtors to stop incurring unsecured debt."  They welcome you with open arms to talk about all the problems surrounding your current debt situation.  They aim to help people with debt problems brought on by a failure to stay solvent (in finance, where liabilities exceed assets).





     I am a shopaholic. I had always liked to spend, but for a few years towards the end, i shopped relentlessly.  I incurred more debt to continue spending.  I bought everything on a whim.  I was a prime candidate for Debtors Anonymous.

     When it came time to go to my first meeting, I was terrified.  What would they think of me? Would my debt be so bad they would turn me away?  I charged on knowing that there had to be someone that could understand my situation.  They were very caring and they did not make me participate my first time.  No one judged me and I just listened to the stories of others.  I knew I wasn't alone in my mission.

     I was in debt alone, and my parents had not been in debt for years so they were unable to help or understand the emotional aspect of the situation I was in.  DA is free with options to donate after the first time you attend. You are the only one that can decide if DA is a good choice for you.