I was in and out of work for over a decade. I had so many credit cards given to me that I thought I would never run out of money. No matter how much I spent, the credit card companies just kept on increasing the spending limits. I’d pay it off some day. I was sure of it.

I held off as long as I was able to, but I eventually missed a payment and my interest rates jumped to 25.99 percent and 29.99 percent. I knew that living on credit wouldn’t last forever, but I never expected that that inevitable would arrive. Soon, I had credit collectors' constant phone calls to my phone and my family’s phones too. It was a horrible place to be, and I knew I had to do something to get out.

I spoke with a number of credit counselors, all of whom were helpful, but I was in too much debt to pay it off, no matter how low the interest rate. I had no other choice but to file for personal bankruptcy and get another job. I learned how valuable it is to keep on top of your expenses. The plan of “buy today and worry about paying for it tomorrow”, isn’t really a plan, it’s a trap. I will have to deal with the consequences of my actions for the next decade at least, but I know I’ll never put myself in that situation again.