Out of these debts, about Sh300,000 are from my family members and friends.
Sh86,000 are from mobile phone apps (I have been borrowing from one to pay the other), Sh400,000 are from a Sacco loan.
I also have Sh160,000 debt from two table banking groups.
My name is Sammie. I am 38, single and without a child. I have accumulated debts over time that now amount to Sh950,000. Out of these debts, about Sh300,000 are from my family members and friends. Sh86,000 are from mobile phone apps (I have been borrowing from one to pay the other), Sh400,000 are from a Sacco loan. This amount has been in default for the past three months. I also have Sh160,000 in debts from two table banking groups. I work in the informal sector as a broker, and my monthly earnings are around Sh50,000. My monthly spending has been rising and leaves me with between Sh5,000 and Sh8,000 which I can’t account for. I spend Sh16,000 on rent, Sh8,000 on fuel, Sh3,500 on Pay TV, Sh2,500 on airtime and data, Sh5,000 on black tax, and Sh8,000 on food. I used part of my loan money to pay college fees for two of my siblings, and part of it to improve my mum’s furniture in the village. I am so broke that I can’t even afford a girlfriend. I have nothing to show for my years of hard work even though I have a marketing degree. Please guide me on how to repay these debts as fast as possible. Please advise me on whether to go into employment (though I have never been enthusiastic about being employed).
