Debt Free Living

It seemed only fair that my first post would be an introduction and explanation as to what makes me qualified to be posting about becoming and living debt free. So here goes.

First of all, financial consulting wasn’t what I set out to do in life. I joined the Navy right out of High School because my family didn’t have the money to send me to college and I heard they had great educational benefits. Turns out, they do. I earned a full ride to the University of South Carolina through their NROTC program after being on active duty for just 3 years. You can’t beat the price. I have since earned a Bachelor’s Degree in Computer Science and then a Master’s Degree in Information Technology. I mention my education only because its what got me here. During my college life and since, I started out my career in Information Technology, first providing technical support over the phone for an Internet Service Provider and then eventually as a software developer for a credit company. And this is where it got interesting. I went to work for a sub-prime, credit company as their lead software developer. It was there that I learned the in’s and out’s of how creditors worked, how collections worked and through the insight of my boss, what almost everyone was doing wrong. At the time I didn’t realize it but years later that information would turn out to be the turn around I needed.

A few years after leaving them, I found myself up to my eyes in debt. My wife and I were newly married and learning the hard way that two people with a lot of debt and bad credit should never get married. She had a laundry list of collection accounts and I was myself struggling with making my minimum payments and dealing with a repossession that had turned into a lien being filed against me. We were together about $214,000 in debt and over our head in every way. It was during this learning process that in less than 5 years, we paid it all off, and learned the hard way what works and doesn’t work. So when you hear others talk about what works and what doesn’t and how all you have to do is this or that, make sure they have a “Been There, Done That” diploma hanging on their wall. Because if there is one thing I can say with complete confidence it is that no college course or degree teaches you what you need to know to become debt free and then live the life that follows.

I have been through it all. I have dealt with the creditors calling all day and most of the night. I have watched my vehicle be repossessed while I was at work and completely helpless to stop it. I have received a notice of foreclosure proceedings on my house and I have tried everything that works and doesn’t work. I have completed a Consumer Credit Counseling program, been through Debt Settlement and repaired my credit report by my little self. I have also learned some little known techniques that can have the majority of the population completely credit card free in 3 years or less with their auto loans and mortgage paid off a mere 4-7 years later.

And through this blog I will discuss each of these techinques, how they work and the pro’s and con’s of each. Then, you can decide for yourself which path is best for you to follow.So here’s to your financial future and learning how to become debt free and then live the good life that follows.

See you in a few days.

Clint Holland

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