Debt - whose fault is it?

[krantcents]

Although I am not in debt, I believe in taking responsibility. If your wife or husband spent the money that put you in debt and you let it happen, it is still your responsibility.

[Eric80]

Debt was totally mt fault, and like you this had built up over the years. I had to go to a debt management company so that they could help me. I was having more going out then coming in. It took a lot for me to admit that me alone was solely responsible for the mess that I was in.

[nitemarecooper]

In my case, I had a fairly large amount of debt upon meeting my girlfriend about 4 years ago. Upon splitting with my (by now) ex wife a year ago, my debt in my name had roughly doubled. I do blame the new amount no small part on me, but my ex had, in my opinion, an uncontrolled spending problem. She had several debts all in default for non payment, and by her admission, she always had her parents there very willing to hand over cash when she ever ran short of money.

The big mistake I regret now was focusing for a while on repaying her defaulted debts to help clear up her credit. Now I have all this debt and she has a slightly clearer record. Oh well.

For the most part, the debt is just careless spending. A little bit of bad luck (blew transmission, $3000), a car loan for a car I regret (even still, that 2.0L 4 cyl engine is much cheaper on gas than the 4.6L v8 Ford F150 I put that tranny in, lol).

[Eric80]

It was definitely me who was to blame for my own debt and it was me that needed to get myself out! I went and spoke to a debt advisor and they advised that I should consider consolidating my debt! this was the best thing i ever did and i am seeing massive differences in my finances (they are healthier) I am happier and most of all I am starting to enjoy my life. I highly recommend that you speak to a debt advisor- they were great!!

[snafu]

Sadly, so many of these consolidators are questionable if not down-right scams. You learn so much more from your mistakes and avoid repeating them by DIY. Commit to a written budget. Stop using credit & debit cards; reduce expenses, live within your means. Negotiate with your debtors to clear outstanding amounts. Try to get interest rate reduced or interest frozen. Try the Dave Ramsey 'snowball' plan. If you must have assistance go to not-for-profit credit counseling assistance.