I'm over 560k in debt. How do I get out of this?
I badly need help figuring out how to get out of this situation. All because of the Tapal system which hindi ko na uulitin once I get out of my debt. I have around 560k in personal debt from different OLAs, Atome, SLoan, and SPayLater.
Good payer talaga ako that's why lumaki yung credit limit but then my mom was hospitalized and passed away and di ko na kaya bayaran lahat ng to dahil sa hospital bills. And with all the different due dates and payment demands, it feels impossible to keep up na. Some payments are so close together that they practically eat up my entire paycheck before I can even cover my other needs.
Sloan 70k
SpayLater 17k
Atome 100k
OLAs 350k
The OLAs I used:
Pesos.ph
Pesoloan
Fido.ph
Mega Peso (Ceimmarj)
FT Lending
Casify
XLKash
VPlus
BigLoan
Sobrang nagsisisi talaga ako. I know I made mistakes, and I’m not trying to avoid my responsibilities. I genuinely want to pay what I owe and get back on my feet, but I don’t know where to start anymore. I don’t want to take out another loan just to pay off existing loans and make things worse.
For anyone who has been in a similar situation, how did you start getting out of debt? Is debt restructuring an option with these lenders? How do I prioritize payments, negotiate with them, and create a realistic repayment plan based on my income?
Please be kind. I’m already overwhelmed, grieving, and trying to figure everything out one day at a time. Any practical advice or personal experiences would mean a lot. Thank you po ng marami!