I am a spending money junkie Alices story

Throughout Financial Literacy Month, the blog will give voice to consumers who have overcome financial challenges. Through their own words, these consumers will tell you about what it was like to be in and repay unmanageable debt. They will also share inspiring words about the many ways their lives have changed as a result of their debt repayment efforts.

Following is Alice's personal debt story.

First I have to start with I am a spending money junky. I liked to go shopping every time I got depressed about not having things that other people had. I would use my charge cards (I had 3 Mastercard ,Visa, Lane Bryant and Gas cards) and buy something for my apartment or myself. I even got into a bad habit by using them to pay my monthly payments on each other.

I tried to buy a mobile home and my credit was so bad from paying late payments and being so far in debt for what my income was. I had to have my home put in someone else’s name. I worried so much about making the payment so that I didn’t mess up their credit.

I finally heard an advertisement about MMI and decided that it was time for some help. They were very nice and didn’t tell me that I was a bad person for getting myself in so much debt.

It was a wonderful day when I called MMI to get my payoff amount and the guy that answered was so excited that he was the one that was talking to someone that was able to pay off the last of their debt. The best day came when I was able to apply to get my mobile home in my name and the loan was approved.

It has been about 2 or 3 years since I paid off my debts and it feels wonderful. It is still a struggle to not get another credit card. After you pay off your debts, the companies love to send you pre-approved cards. DO NOT SEND FOR THEM. That is what got me in so much trouble and I would hate for anyone else to get that way. It is so discouraging to apply for a loan and be turned down because you have too much debt or pay late payments.

With me my health also suffered because I worried so much about where I was going to get my monthly payment for my bills and if I would ever get them paid off.

I recommend that anyone that finds themselves in so much debt, get help. There are companies out there that will help you find a payment that you can make each month and then you will feel better about yourself like I do. The struggle will probably never end for me, but at least I do not have bad credit now and NO CREDIT CARDS.

Thank you for listening to me, or at least I hope you do.


Alice A

Check back often for more stories about real people who have overcome the burden of debt. And don't forget to visit our Financial Literacy Month section for a wealth of information about improving your own financial situation.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.