Posted on Wednesday, 4th November 2009 by admin

I moved into my dad’s house when I was about 16, and immediately struck a friendship with my step brother. He was a bit of a renegade, and always getting into trouble. Eventually, after he graduated, he received his first credit card and moved out.

His First Debt

About three months after he moved out, he moved back in. He told me that he had ran up his credit card and was unable to pay it back. Apparently he had accumulated $500 in interest and debt to the company. He was unemployed at this point in time and made little effort to pay his debt off. Eventually he was kicked out of the house.

More Debt

He did eventually get a new job, and moved in with a girl. He then got a phone contract and proceeded to allow many of his friends to join it. They did not pay him like he expected, and he was forced to cancel their phone lines, and pay the cancellation fee by himself. He was also unable to pay off his own line, and accumulated an incredible amount of debt to the company over time, about $5000.

Today

At this point in time he has lived many places, and made many poor decisions. He has had several jobs, but seems to lack the motivation to move up in these environments, or to even make it to work on most days. He does not think about his over $10000 in debt, and has no desire to pay it off. In fact he spends too much money on electronics and fast food to do that. The point of this article is that once a little debt has been accumulated, it is extremely difficult to pay it off and get out of debt. My step brother has no credit and will not be able to buy a house or a car for a very long time. He is essentially stuck in a loop and has left himself no way out. The best way to avoid this is to avoid debt in the first place, or to get out of any debt as quickly as possible.

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