The End Result of Borrowing from 5 Consumer Finance Companies | You Can Still Start Your Life Over

Before I knew it, payday had become repayment day.

This was my own reality once.

At first, it was just a few tens of thousands of yen.
"I'm just short for this month"
"I just want to supplement my living expenses a little"
I started using consumer finance with such a light heart.

However, before I knew it, the number of lenders had gone from one to two, and then to five.

The monthly repayment amount kept increasing, and my mind was constantly filled with thoughts of money. Every time the phone rang, I felt anxious, and I became afraid to even check the mail.

If you are currently feeling:

"My debt has grown too much and it's painful"
"My life might be over"
"I can't talk to anyone about this"

If you feel that way, I believe this article will be helpful to you.

In this article, I will share the realistic progression of falling into multiple debts, the mental anguish, and the methods to actually rebuild your life, while incorporating my own perspective.

It will be okay.
Debt is painful, but it does not mean your life itself is over.

Why do people end up using as many as 5 consumer finance companies?

Most people do not start out intending to become a multiple debtor.

The initial trigger is something truly small.

・Living expenses before payday
・Sudden illness or expenses
・Unemployment
・Insufficient credit card payments
・Circumstances you cannot tell your family

I also thought at first, "I'll be able to pay it back next month."

However, once repayment begins, the reality is different.

For example, even if you borrow 50,000 yen, when you repay it with interest, your money decreases more than you thought. Then, you run out of living expenses and borrow from another company again.

Through this repetition, the number of lenders increases.

The fear of debt snowballing

What is especially scary is numbness of the senses.

At first, I was nervous about borrowing even 10,000 yen, but as I got used to it, my sense of caution dulled, and I started thinking, '100,000 yen is fine.'

And before I knew it, I was paying several tens of thousands of yen just for monthly repayments.

Even though I was borrowing to live, I ended up in a situation where I was borrowing money just to make repayments.

This really wears down your spirit.

I couldn't sleep at night.
I lost my appetite.
I didn't want to see anyone.

Debt problems don't just drain your money; they corner your mind as well.

The reality of what happened after borrowing from five consumer finance companies

The most painful part for me was the state of 'constant anxiety that never left my mind.'

I worried about money even when I woke up in the morning.
I thought only about repayment dates while at work.
I couldn't rest at all on my days off.

What was particularly painful was the fear of debt collection.

Of course, it's not like the dramatic debt collection you see in TV shows happens immediately. However, if you miss a payment, you get calls and notices.

Just seeing those notices made my heart ache.

The feeling of life falling apart

What is truly scary about debt problems is that you start to deny yourself.

'I am a worthless person.'
'It's all over.'
'I've failed at life.'

Those kinds of thoughts kept popping up.

In fact, I have also experienced losing a large amount of money in the past and feeling despair. I have also lost a lot of money on FX and cryptocurrency.

However, looking back now, the problem wasn't just the debt itself.

The 'loneliness of having no one to talk to' was the most dangerous part.

The more you hide a debt problem, the easier it is for it to get worse.

That is precisely why taking early action is truly important.

What was necessary to escape the debt hell

What is important here is not 'guts'.

Debt problems are difficult to solve with willpower alone.

What is needed is organizing the reality.

First, what you need to do

The first things I recommend are the following three.

The first is to write down the total amount borrowed.

This is a scary task, but facing reality is the first step.

The second is to check the interest rates.

When the annual interest rate is around 15-18%, even if you make payments, the principal becomes difficult to reduce.

The third is to consult with a professional.

Consulting with Houterasu (Japan Legal Support Center), lawyers, or judicial scriveners is easier than you might think.

There is no need to worry about whether it is okay to consult in such a state.

In fact, the earlier you act, the more options you have.

Commonly used solutions

For debt problems, the following methods are sometimes used.

・Voluntary liquidation
・Individual rehabilitation
・Personal bankruptcy

Many people think 'personal bankruptcy = life is over,' but that is not actually the case.

Of course, there are disadvantages. However, there are times when it is more important to use the system to make a fresh start rather than continuing a life that wears you down.

In Japan, there are systems in place to help you rebuild your life.

So, please do not carry this burden alone.

What I saw because I experienced debt

It is strange, but by experiencing the hell of debt, my values regarding money have changed significantly.

Before, I had a strong desire to "earn money quickly," "increase it all at once," and "become rich as soon as possible."

That is why I lost a fortune in FX and dabbled in suspicious cryptocurrencies. As a result, I went bankrupt.

However, now I strongly feel the importance of long-term thinking.

Toward a life of building up, even if it is small

Currently, rather than a flashy comeback, I value:

・Saving little by little
・Writing little by little
・Learning little by little

I cherish that way of living.

In fact, even if your income is low, if you organize your lifestyle habits, your life will become quite stable.

For example,

・Reducing fixed costs
・Being conscious of eating less
・Discarding useless vanity
・Starting a side job you can do from home

These small improvements are surprisingly significant.

When you are in debt, you feel anxious, thinking, "I have to change my life all at once."

But what really changes your life is the accumulation of small habits.

You can still start your life over

When you go into debt, you feel as if you alone have been left behind by the world.

But in reality, there are many people who have suffered in the same way.

And among them, there are many who have rebuilt their lives.

The important thing is not to decide that it is "impossible" anymore.

Even with debt, there are things you can change starting today.

・Write down your expenses
・Seek advice
・Stop making reckless investments
・Simplify your life

Life does not change in a single day.

However, one step at a time, it will definitely change.

I myself once suffered from debt, and now I am able to write these words and share my own experiences.

Therefore, there is still plenty of potential in your life as well.

Summary

When you reach the state of borrowing from five consumer finance companies, it becomes truly painful both mentally and financially.

However, that does not mean your life is completely over.

What is important is not to run away from reality, but to organize things little by little.

Debt problems are not a "shame," but a "problem to be dealt with."

And people can start over as many times as they need to.

Thank you very much for reading until the end.
If you are currently in a difficult situation, please first know that you are not alone. I would be very happy if this article could lighten your heart even a little. If you like, please give it a like or follow, and let's continue to rebuild our lives together.

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