Struggling to see a way out but appreciate this forum

phoenix851 · 29 May 2016 at 11:12PM

Hi all,

I originally posted this in response to an already existing thread, but felt it might be more appropriate to begin another - just to introduce myself and to share my sentiments with more of you...

I have only recently discovered this forum and have already found some comfort in reading the stories of others. Being in debt can bring on all sorts of emotions - shame, anxiety and frustration are probably my three most experienced emotions in relation to debt.

I am currently in £15,000 debt - 2 unsecured loans, 3 credit cards. A large contribution to this was starting to use payday loans following the breakdown of my relationship, then acquring more debt to make monthly payments and so on and so on. I continue to make payments and 'manage' my debt but with the entirity of my wage swallowed up by repayments. As many of you may be familiar with - the spiral is a fast one; suddenly I find myself here, rock bottom, staying with my parents at the age of 30 and struggling to see an end to this black tunnel.

I just wanted to say thank you to those who post and support others experiencing debt. I've had a pretty rough weekend (the latest in a long line), focusing on my situation and trying to forge a way out. This forum lifted that weight for while - knowing that I am not alone in this.

Such a valuble source of support and information.

Thank you x

sourcrates · 29 May 2016 at 11:19PM

Hi,

Have you looked into a debt relief order at all ?

20k max debt, must not be a homeowner, no more than £50 left at months end after all bills, and must not have car worth more than 1k.

Any of that sound like your situation ?

http://www.stepchange.org/Howwecanhelpyou/DRODebtrelieforder.aspx?WT.srch=1&WT.mc_id=200109&WT.seg_1=dro&gclid=CN31mcaogM0CFUa4Gwodi1MJvw

FinallyDebtfree2017 · 30 May 2016 at 8:47AM

Hi Phoenix

Thanks for sharing.
It's tough, but sharing the load helps, we are all in the same boat, some more or less..
Don't beat yourself up, use your energy to get out of it, Sourcrates as always is offering some great advice here.

I also think it is important to understand why it happened in the first place.

I wish you all the best, keep sharing

rockabillygirl · 30 May 2016 at 9:00PM

Just wanted to wish you luck in your journey and show support.

Jo3y83 · 31 May 2016 at 11:01AM

Good luck on your journey. I know it can be very difficult to stay focused when emotions take over but try to force your energy into paying it off. Spending money for me was an addiction as I no longer do that I've found that trying not to spend money is equally addictive and very liberating. Set up a spreadsheet with your debts listed and change it once you've paid some off. This way you will be able to see your debts coming down and this level of visual aid is very empowering.
Feel free to PM if you need to.
All the best

Tyrone_Black · 31 May 2016 at 7:29PM

I thought my £6k was unmanageable until I saw people on here paying off incredible amounts of money - £30k or more! Once you get started it can be weirdly addictive, and it's amazing how much you can achieve by just questioning your spending.

Struggling to see a way out but appreciate this forum

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free