Getting Out Of The Bondage of Debt

I’m free! I was able to get out of the bondage!

“The borrower is a slave to the lender.” Proverbs 22:7

One of the best things in life is to find your own freedom. Here’s my story about getting out of the claws of debts.

2013, I made some bad investments. My life starts to become challenging. I am losing money more that I earn. The more I want to earn extra income, the more I loss money. All things I’m doing seems to fall apart. I’m ruined.

2014, I was broke. I lost all my investments, cash out my stocks, cashed out my plan epargne logement. I took the maximum of my three revolving credits. I am living paycheck to paycheck every month. I spent all my time trying to find out how I can bounce back. I don’t have time for exercise. My health failed, I don’t have time for my family. I almost lost my family, the biggest thing I regret. I spent too much time for other things; neglecting the most important thing in my life.

June 2015, I decided to do something. No, it’s not about ending my life, but that was one of my choices. It would be pretty easy. I decided to do something about my financial trouble. There was a saying that “You only need one good investments out of a hundred to have a stellar result.” I stood by that. I have to try one last time and bounce back. I wrote my recovery plan and published it on Amazon. I sticked with my plan, knowing one day, I’d be enjoying my journey.

July 2015, I decided to go for a goal of P1M investment fund to be achieved by December 2017. I will do this project while paying my debts at the same time.

November 2015, my wife joined a network marketing company. I decided to join her and made this as our part time business. Earnings from this business will be extra spendable money that we can use for paying the debts, or saving for our investment fund, and spend with the family dinner out together. There is magic doing part time business. I expect a big difference to come from this part time business.

July 2016, I decided to buy my own apartment. It’s worth EUR250K (around P13M). I will also do this project at the same time with my financial recovery. My bank made all the simulations and prepared all required documents. But the bank was very slow with the process. After many months, this first week of March 2016, I received the refusal of my bank with my project. It took months of delays from my bank, now I am running out of time to go to a broker to find financing. I supposed to be with a broker, but my bank offered me the financing, only to be refused at the last moment. Their judgment – I will not be able to repay the loan.

I went back to the broker and they studied my files. They asked how much I’d be able to pay in advance? I have accumulated EUR30K since my recovery, so I can promise that as an advance. They accepted my files and told me it can be done. In order to complete my application, they need me to provide some supporting papers about the loans I am paying as they saw the three deductions in my bank statements. First, I checked my revolving credit that is not with the bank. They told me that I was done with my loan since February and now I can get another EUR3,500 if I wish to. I said “thank you for your offer. I will be closing my revolving credit account soon.” The monthly payment I’m doing for this payment will become an extra spendable money just like the extra income coming from the part time business.

I checked my bank about my two other revolving credits. The first one was done last January. The second one, there was EUR1,300 left. I asked if I can pay it full. They agreed. All my personal loans were all paid up. These payments I’m doing with the two revolving credits will also be an extra spendable money!

Now I’m FREE from my bondage of debt! Debt is a prison cell, you should not be tempted to go inside of it or if you are in there already, you have to go out quickly.

And today, I received this letter (shown in the photo) proving that I am really free.

The signing of the deed of sale is supposed to be up until the end of this month, I know I can never make it. Upon knowing that the broker informed me of the possibility, I negotiated with the builder for an extension. I was able to get an extension until the end of May. I just can’t stop exhausting all the possibilities to make this project a reality. If buying this apartment is a blessing for me, I will be able to purchase it in God’s will. But if despite of all my efforts that this project will not come through, I know God has something better one for me.

This coming Monday, I’d be sending the proofs that I’m done with my debts. My bank did not trust me. I’m sure they did not noticed my slow recovery. I know that my efforts I made in the last year are starting to bear fruits for me.

The best thing for now is that I have my family working together with me with all our financial recovery projects. There’s magic if the family is working together side by side. Our family life’s journey is tough. We’ve been through trials that almost wrecked my family – which the most important thing in my life. Our life is not like a fairy tale. Every good things has to be fought hard in a battle and be won with great difficulties. And once I have won the battle, I have to protect it and fight to defend it. Every good things must be defended from the encroachment of envious, jealous and evil people. I’m ready to sacrifice and give up my life for my family that I value the most.

Indeed, there is always something good we can do in our life if only we decide to turn it around; from nothing to something.

I’m not even half-way of my short-term goal. There are still many things to be done. But then, the small results that I am achieving now are the proof that if one will do something from his current situation, he will be able to change the situation in two years, five years or ten years. Patience is a virtue. One has to do his part and let God do His part.

I don’t share this to brag of my tiny results. It’s to provoke you to do something about your situation if you are not contented of what you have now. If I can do it, anyone can do it. Make a choice and decide. You can decide to stay in the darkness or come out to enjoy the light. It’s your choice. That’s one way to live. But if you’ll ask what I will do, I will say, let’s continue the battle. It’s my mountain to climb, it may be steep, it maybe rocky, it maybe dangerous. But it’s my mountain. I have to climb it. Soon you will see me waving at the top or dead on the side trying.

Are you in the same situation? If you want someone to coach you, comment “Coach me!” below. I’m willing to share more of my stories that might help you to achieve your goals.

Here’s to your freedom!

JUN PASION – Online Entrepreneur

Connect with Jun Pasion: Facebook Page | Send E-mail | Mobile: +33 6 5009 3916

Article: Getting Out Of The Bondage of Debt

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