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Thursday, 28 July 2016 16:02

Dear Editor,

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I had to file for chapter 13 just to get out from my car payment. Your article
last month about debt slavery was EXACTLY on the money, I used
to have this giant ego, I had a new 2010 Mustang, but after continual
$400 monthly payments plus $120 insurance on a $1,500 take home, I
had to take payday loans just to pay my other bills. Part of it was not my
fault, since my company got bought out and they reduced the size of my
paychecks due to revised payday schedules, so it would take me 6
months(1) to recoup what I would have gotten over the bi-monthly
method. So, I gave the Mustang back to Ford Credit AFTER I had filed
for chapter 13, putting a stay of execution in place so it did not count as a
repo. I didn't pay anything out of pocket, but I do have to pay $69 every
two weeks for another 30 months to get out of the deal, and I'm glad I
did, because now I have a good running little car that I own that gets 40
MPG, and NO PAYMENTS!
I tossed out the ego, and took on some humility, the car doesn't turn
heads but it gets me from A to B and everything works great and it feels
new. But what feels good is having one paycheck every two weeks that's
just for me and not Ford Credit or any other lender. Screw new, I say, if
you don't have the cash, forget it!
M.D Darcy

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