Why I (23F) ended up 200k in debt… the full story

Content warning: This post talks about being in an abusive home, mental illness, and suicidal thoughts. The tone is casual and might feel detached or comical to some.

(TL;DR: I messed up financially and now have 204k in debt. I’m jobless but covered until June and searching for a better-paying job.)

In 2020, the pandemic was in full swing, and I was stuck in an abusive home, earning 20k as a cold-calling recruiter. I was also suicidal and somehow became my family’s breadwinner.

Then I lost my job—literally a day before I was supposed to get regularized. With no other choice, I got a loan from CIMB. It was supposed to help me escape, but my mom claimed it as her “daughter fee.”

Thank goodness for free mental health consultations. If not for my therapist, I don’t know if I’d still be here.

In 2021, after months of unemployment, I got a job at a company in Ortigas. It paid better, and I had hopes of moving out. And I did.

January 2022 was amazing. I finally escaped the chaos of my family and started fresh, although I was left with scars, a personality disorder diagnosis, and debt. I decided to enroll in college but quickly realized my 22k salary wasn’t enough. I pawned a family heirloom and kept paying off the CIMB loan while searching for a higher-paying job.

Later, I found a company offering a 30% raise and even tuition support. Life seemed good—I was thriving at work, doing well in school, and even starting to enjoy a social life.

But then came the crash. I got reckless with money—using GCredit, GGives, GLoan, BillEase, SPayLater—you name it. Before I knew it, my debt hit 180k. Panic set in.

Desperate, I applied for my company’s salary loan program to consolidate my debts. It seemed like a smart move. By January 2023, I paid off most of my loans using the salary loan, leaving only one big repayment.

Life was quiet again until three weeks ago when I got laid off in a mass termination. My severance pay was split between living expenses and a cushion for the coming months.

Now, with interest, my debt is at 204k, and I have six months to pay it off. I’ve made a budget that gets me through the year, and I’m determined to make this work. This is just another hurdle, and I owe it to myself to get through it.

Author’s note: Sorry if this feels all over the place. It’s a stream of consciousness. Feel free to ask for clarifications in the comments.

You’ve got this! Writing this all down means you’re aware of the situation, have learned from it, and want to move forward. That’s already huge progress!

Noor said:
You’ve got this! Writing this all down means you’re aware of the situation, have learned from it, and want to move forward. That’s already huge progress!

This actually made me tear up. It’s so comforting to feel supported, even by someone online. Thank you so much!

@Sunny
Better to learn this lesson now while you’re young. You’ve got time to bounce back, and we’re all rooting for you!

Haru said:
@Sunny
Better to learn this lesson now while you’re young. You’ve got time to bounce back, and we’re all rooting for you!

It’s a costly lesson, but one I won’t forget. Thank you so much!

I’m not great at cheering others up since no one cheers me on, but good luck. I hope you get back to a stable and peaceful life soon.

Ari said:
I’m not great at cheering others up since no one cheers me on, but good luck. I hope you get back to a stable and peaceful life soon.

Thank you so much. I understand what it’s like to only have yourself to rely on. Sending you good vibes.

Hey, I noticed you’re a great writer! Why not try freelance writing? It could help you earn while working on paying your debts.

Bliss said:
Hey, I noticed you’re a great writer! Why not try freelance writing? It could help you earn while working on paying your debts.

Thanks! I’m a business writer and also do some text-based tutoring. I’m focusing on finding a full-time role for now, but freelancing is something I’ll keep doing on the side.

Jo said:
Half your struggles seem self-inflicted. Be cautious next time with spending. Going cash-only for a few years might help you rebuild better habits.

I’ve talked to my therapist about this, and you’re right. Going cash-only might be the discipline I need to reset. Thanks for the suggestion!

We’re in similar boats—lots of debt but figuring it out. Keep at it! You’ve got this.

Jai said:
We’re in similar boats—lots of debt but figuring it out. Keep at it! You’ve got this.

Thank you! It’s reassuring to know I’m not alone in this. Let’s keep pushing forward!