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I've mentioned that I spent several years in the seminary, studying to be a priest. That nearly didn't happen because of a problem I had not long before I was set to enter the seminary. No, not the sort of problem you read about in the papers. It was a credit card debt problem.

You see, when I finished graduate school I ran into a big problem. The teaching market was glutted, and I had priced myself out of many jobs by getting that masters degree. I spent the next two years working at a homeless shelter, making very little money. During that time, I slowly ran up my credit cards and was in need of debt help. However, a current bankruptcy filing s not looked upon as a plus for a prospective priest, and filing for bankruptcy while in the seminary would have been even worse.

What to do? Well, I was fortunate to be able to find debt help in the form of a debt consolidation loan. Having set up a debt management plan, I found a second job and payed off that bill consolidation in just a few months by applying every penny I could towards it. I was also able to draw my bank balances down to a minimum to repay every penny I owed and received an unexpected gift from a family member who had no knowledge of my situation. That let me go into the seminary debt-free a year earlier than I had anticipated. It was one of the greatest blessings -- and lessons -- of my life.

Now not everyone is in a position to do what I did. But through the use of a home equity loan and debt consolidation credit counseling, people can get out of the debt dilemma. And there are other options that can work for you, if you really interested and try.

Posted by: Greg at 06:50 PM | No Comments | Add Comment
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