Debt Nightmare

My debt Nightmare I started to get into debt when I was still at university. I was young and I just wanted to enjoy life.


All my friends did they same, credit was just so easy available to us at that time. Once I graduated from university in 2007 I had a total debt of $30 000 USD. I was not worried at all as I was expecting to get a well paying job fast. I have a degree in Business Management (BA with honors). I started to apply for work online. I felt very confident, that it would not take more than a couple of weeks for me to find a decent job at some multinational company.

Two months later my confidence turned into frustration and self-doubt. I applied for more than 200 jobs in that time period. I had 15 replies, and 3 real job interviews. I almost had no money left, so I started to apply at my local McDonalds, Starbucks and Walmart. I got lucky with Walmart.

My salary was $9 before taxes. I was really shocked, but I had no other choice than working a minimum wage job. In 2008 we got hit by the worst finical crises in decades. I almost felt guilty as I was one of those subprime people who were the cause of the collapse of the finical system. My salary at Walmart was so low the money I earned barely allowed me to pay rent and buy food. I started to get nasty letters from my bank that my credit card payments were overdue. I really wanted to pay back my debt, but I just had no money.

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I felt the only way to escape the finical mess I was in, was to declare myself bankrupt or change my identity. Over the next month I did not do anything. Most creditors already passed on my debt to debt collection agency. Debt collectors started to come to my apartment, it was really scary. They came into my home and just took my Macbook air TV etc. I never felt that bad in my life.

I realized I had to get to move to a new address, as far away as possible. I decided to move to LA. I thought it was time to leave my horrible life behind me and start over. I took a Greyhound bus to LA, I just had not enough money to fly. I was lucky, as I had a friend in LA who let me stay in his house. My plan was to do any work I could get and save money so I could start my own business.


It took me about 4 months and I had save enough money to open a small stall at the Venice Beach market. A friend of mine gave me the idea to import Havainas Flip flops from Brazil and sell them there on the beach. Business was good; people just loved those rubber sandals.

What I learned from that is sometimes you have to take your life in your own hands. Escaping minimum wage slavery and evil debtors might not be easy, but it’s worth the hard work.

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