Thoughts on Being a Victim of Cryptocurrency Fraud (15): I Might Be Able to Pay Off One of My Lenders

I am a salaryman in my early 30s. Last summer, I fell victim to a cryptocurrency scam and ended up with debt totaling more than 1.5 times my annual income. After that, I was hit by secondary victimization, and to make matters worse, the police would not even accept my damage report, so I went through a terrible time.

I moved to a new place, lowered my fixed costs, and managed to create a repayment plan. I debated filing for bankruptcy, but I decided to pay it off. Later, I managed to build up the six months of repayment history required for the refinancing loan I was aiming for, but I was rejected. Now, while living a frugal life, I am continuing to build my repayment history and looking for other refinancing loan options so I can apply again.

To save on food costs, I bring boiled vegetables and a boiled egg in a plastic container to work for lunch. Sometimes, I just have boiled sweet potatoes. My food budget goal is 25,000 yen per month.

Perhaps thanks to my frugal lifestyle, I might be able to pay off one of my lenders.
To be precise, I am not paying it off with my own money, but using the credit line of a bank-affiliated card loan. I am taking out a new loan from a bank to pay off the consumer finance loan.

Bank-affiliated card loans have lower interest rates than consumer finance companies, so I am using the credit line I built up over about six months of repayments to pay off the consumer finance debt and consolidate my repayments into the lower-interest bank card loan. Also, bank loans have lower minimum repayment amounts, so my cash flow will become a bit easier. It will be more than just easier; this will give me an extra 10,000 yen or more per month. My repayments are now consolidated, and I feel a bit more relieved.

With this, I have taken out a new loan and prioritized paying off a specific debt, so the path to bankruptcy is now closed.

I plan to use this strategy of using bank-affiliated card loan credit lines to advance other repayments, in order to make my monthly repayments as manageable as possible.

The road is long, but the light has not completely gone out. I will keep trying without losing hope.