When my son got into a car accident and fell into a coma, it was one of the worst moments of my life.  Not only was our only son’s future uncertain but so was our financial future.

You see, he didn’t have any medical coverage so we were forced to pay for his medical bills with our savings.  If you’ve ever been this kind of situation, you know how quickly your savings disappear when paying medical expenses.

Thankfully, he did come out of his coma and had a remarkable recovery, but it left us in financial ruin.  With our minimum payments for our credit cards getting to the point where they were more than our income, we didn’t know how to reduce credit card debt that was so far out of hand.

We went to talk to a financial advisor about our situation and they suggested that we put ourselves on one of those debt diet plans that you might have seen on TV.  After talking to the advisor for a little bit, he realized that that wasn’t going to work for us as we were past the point that we could handle our expenses.

So, we applied for a poor credit debt consolidation loan which reduced our payments to a level that we can afford.  Even though we a long road before we are caught up, but at least our ship isn’t sinking anymore.