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Article: Debt overload: 7 ways to pay it off, plus warning signs that you're in over your head.(CONSUMER LIFE)
- Article from:
- Black Enterprise
- Article date:
- June 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Earl G. Graves Publishing Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A TINGE OF DESPERATION LINGERS in Nelanye Moore's voice when she speaks about her nearly $100,000 debt and the accruing interest. "My financial situation is really in shambles, and I don't know which way to go with it," she says.
Due to a pending divorce, Moore, a 39-year-old teacher in Chicago, and her three children had to leave their house over-looking Lake Michigan and move in with her father. Her 2002 Chevy Avalanche was repossessed in 2004 with $15,000 still owed on it, and she had to begin taking public transportation when her replacement car was stolen last year.
Just a few years ago, Moore was living a seemingly dream life. She and her husband, ...