Scenario 1
Just enough Money to pay the Minimal Amount Due
If, after figuring out the minimal amount due on all of the bills that you owe, you discover that you do indeed have just enough to pay the minimal balance due, than you are not in as bad a predicament as you may have feared. While this may seriously curb your social life for a while, you are at least in a position to be able to pay off your bad debts and get back into good shape financially.
By all means you should absolutely pay the minimal amount due on each and every bill. In the meantime, you can look for other ways to cut your expenses as well. Do you shop for luxury items at the grocery store or just buy what you need? While you are in as close to be what can be described as an enviable position for someone in your situation, there are still other places that you may be able to cut your debts even further and faster.
It is important to remember that this is not a permanent sacrifice but only a temporary setback. The sooner you can get your debts under control and back into a manageable position, the sooner you can resume your life and you will even be able to do it with a completely new point of view.
While suffering through these times will be difficult at best, when it is all said and done you will have a new outlook and respect for your finances and your debt management. If you can make it through this without faltering, you will be able to come out and put yourself in a whole new light financially.
In the meantime, paying the minimal amount on all of your bills which are due will also help in keeping you out of costly litigation and put you on the right track to financial recovery. Keep in mind that you are working towards a foreseeable goal and as long as you persist, your worries do have an end in sight.
