Debt Kid

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Blog Title: Debt Kid

Blogger name(s)/Alias(es): Debt Kid

Blog start date: January 21, 2007

About the Blog: Why Do This?

This blog is half a place for me to keep track of all my debt, and any progress I make. Half for me to ask for tips and inspirations. And half for me just to process everything I am trying to deal with right now. Ok, that is 150%.

How much debt do you have?

I have just over 300K in 'bad debt' (I’m not counting even my student loans in that figure). It’s likely that this blog will not last long, because its more likely that I am not going to make it (update! I’m going to make it…somehow!). But, I’m going to try. I need to come up with approximately 9K a month, just to meet my bare minimum payments.

How did you get to this point?

Obviously, it didn’t happen overnight. I think I convinced myself that I would always make back the money I was losing in the market (think stocks, options, and foreign currency trading). I deluded myself with that dream for 3 years. I “awoke” on Jan. 18th, 2007, after speaking with a family member about the situation. I have stopped trading, and am not asking for money from anyone, I need to do this on my own, or face the consequences.

“a man must take responsibility for his actions” - Lee Adama ( Battlestar Gallactica, 1st Season)' -- from the About page

Approx post frequency: 4-5 times per week

Blog Categories (on this wiki): Personal Finance Bloggers, Debt and Credit Bloggers, Real Estate Bloggers

Specializations: debt, debt reduction, foreclosure

Highlights: Short Sell Your House - 7 Steps That Helped Avoid Foreclosure, How Will A Short Sale Affect My Credit?, Short Sale vs. Foreclosure: Which is the Better Option?, Bankruptcy: How much does it cost?

This article is based on an article from Finwikian, available under the GFDL, content later converted into CC-BY-SA.