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  • FIRST POST
    • motivated
    • By motivated 28th Jan 17, 4:51 PM
    • 1,298Posts
    • 1,398Thanks
    motivated
    Debt Demolisher
    • #1
    • 28th Jan 17, 4:51 PM
    Debt Demolisher 28th Jan 17 at 4:51 PM
    Hi MSE ers

    Have plucked up the courage to admit that I cannot cope financially.

    Long story short. We are 82,590 in Credit card and Loan debt basically spent on nothing but shopping, holidays, clothes and household things.

    We are not in arrears or any CCJs at present but fear this will not last.

    I completed the step change debt remedy tool thing today and it advised me to ring them on Monday Petrified at the thought of phone calls, bailiffs at my door and threatening letters etc. I don't even know what to expect about the process etc.

    What do I have to show for it all NOTHING

    So angry with myself but I do feel a little easier as it seems I have woken up and am willing to face it all, pay it all off and remove a lot of the stress I have every month.

    Myself and My OH both work and are both willing to pull together to sort this sorry mess out. I am hoping that keeping a diary and soaking up some excellent tips and advice will see us through to the end.

    I have seen some excellent advice and encouragement given on here and have thoroughly enjoyed reading all of the advice and diaries.

    One day I will be advising others (I hope)

    Please be gentle with me
    M
    Last edited by motivated; Today at 10:33 AM.
Page 2
    • motivated
    • By motivated 13th Feb 17, 11:26 AM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Have given SC all of our creditors details wages etc and just need to get our DD form sent back in order to (hopefully) get the ball rolling.

    Needed to pop to the sorting office today to pick up an undelivered parcel and then went to the corner shop for bread. I managed to only buy bread too and paid with cash . This is a big step forward for me as I would have usually bought quite a bit more that I don't need. I need to keep this mindset and save as much as I can.

    Payday on Wednesday and I will be able to move any money out and into my new account. My wages will then fingers crossed go into our new account in March. Once my rent,council tax and any priority DDs go out on Wednesday I will be in a position to ring the relevant people and give them new DD details.
    I will then cancel DDs in my current account and this will be another step forward for the Motivated household

    Feeling organised and positive at the moment
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Macey1510
    • By Macey1510 13th Feb 17, 3:34 PM
    • 82 Posts
    • 284 Thanks
    Macey1510
    Good luck with your DF journey!
    • motivated
    • By motivated 13th Feb 17, 4:00 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Hi Macey and thankyou

    I am going to need all the luck in the world to get through. But get through I will

    Any tips or advice from anyone will be gratefully received.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • motivated
    • By motivated 13th Feb 17, 10:28 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    So all relevant paperwork sent off now just to wait to hear from SC.

    Still feeling a little more positive about the future and hope that life will get a little easier from here on in. Need to budget every week now and need to take it seriously as theres no going back now.
    My budgets in the past have been too easy to think oh i'll just spend this and make it up next week. Oh i'll just buy this and pay it off next week hence the reason im in the boat im in. Well and truly up sh** creek without a paddle.

    Will be budgeting weekly with DHs wages for things like groceries gas electric my monthly wages will budget for the DMP rent council tax and car insurance etc Anything left over from either wages will be saved.

    I suppose I wont really see if my plan works out until our DMP is up and running and my budgets are in place and all working out

    Heres hoping
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • angelpye
    • By angelpye 13th Feb 17, 11:22 PM
    • 995 Posts
    • 3,627 Thanks
    angelpye
    Hi popping in to show some support, reading through it seems you are really getting things going and steeping up to the challenge. Good luck
    Happiness is wanting what you have...
    Debt Jan 2017: 2589.22 DFD: Sept 2022 April 2022 but this Marching Minimalist can beat that!
    Use it or Loose it gym target: Feb'17 5/6 Mar 4/6
    EF 0/4200
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Feb 17, 5:45 AM
    • 546 Posts
    • 4,396 Thanks
    Treadingonplaymobil
    Just wanted to wish you good luck and offer a bit of support while you wait for the DMP paperwork/confirmation. So difficult to advise until you know what's happening there I think, but maybe posting an SOA would help the experts weigh in? Not so much on the debt repayments as I guess those aren't confirmed, but on any obvious ways to cut outgoings.
    67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th February 2017/DFD: 67,031.92/1st December 2026
    debt on 6/3/17/DFD: 64,738.29/1st August 2026
    • motivated
    • By motivated 14th Feb 17, 10:11 AM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Hi angelpye and treadingonplaymobil

    Thankyou for popping in and for your comments. Still haven't drawn up a budget but will do this this afternoon. Payday for me tomorrow and I will be busy shifting money around cancelling DDs and setting up new ones with new account.

    Need to pop out in a while to get glasses fixed. Hopefully they will do it for free as I haven't had them that long but the arm has fallen off I will have no cash on me so if they want to charge me I will play the feel sorry for me card. . They only need a new screw fitted.

    Will leave my purse at home as I don't need anything and this will remove any temptation to buy anything unessessary.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • motivated
    • By motivated 14th Feb 17, 12:11 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Back home with one pair of mended glasses free of charge too, the others are broken for good
    Anyway we both are due for new eye tests in September so will be saving up for glasses instead of whacking them straight on CC. Not that I will have a CC to use by then anyway so saving it is. A bonus there then.

    Getting impatient for payday tomorrow as I need to sort finances out. Will be up and out early then back home to sort bank accounts and DDs once and for all.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Macey1510
    • By Macey1510 14th Feb 17, 6:08 PM
    • 82 Posts
    • 284 Thanks
    Macey1510
    I'm glad you got your glasses mended...I'm counting down the days until payday too so I can pay a bit more off on my debts
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Feb 17, 6:25 PM
    • 546 Posts
    • 4,396 Thanks
    Treadingonplaymobil
    Good news on the glasses. Good luck getting everything sorted tomorrow, there's something satisfying about seeing it all lined up, even if the numbers are a bit alarming.
    67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th February 2017/DFD: 67,031.92/1st December 2026
    debt on 6/3/17/DFD: 64,738.29/1st August 2026
    • motivated
    • By motivated 14th Feb 17, 6:45 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Macey I'm always counting the days to payday purely to make sure I have enough to pay CCs and DDs etc. Scared to spend anything until I know they are all paid. Even avoiding any small treats throughout the month and having to stash any spare cash away as I never seemed to have enough when the CC statements come in. Hence the reason we have to go down the DMP route
    So I am looking forward to tomorrow's payday as I now feel I can stop panicking a little and have a bit of breathing space.
    Our budget is going to be our key to success I think. If it's not budgeted for then we can't have it or don't need it.





    Treadingonplaymobil I am trying so hard not to think of the overall figure it's too scary But I am going to set myself small targets like every 1000 paid or every month I survived. I know that with determination and hard work we will get there. As others have said there is always someone with a bigger mountain to climb and when you read some of the success stories and some of the amounts people have paid off so far it's an eye opener and proof that it is indeed doable.

    I have also found so much inspiration on here I dread to think where I would be if I hadn't had the balls to face up to it all and ask for advice.

    Good luck with your journeys too
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Upsidedown Bear
    • By Upsidedown Bear 14th Feb 17, 6:55 PM
    • 17,495 Posts
    • 76,424 Thanks
    Upsidedown Bear
    If you haven't seen this thread do have a read.
    Totally inspirational
    11 years a slave
    Good luck with your debt free journey - I'll be cheering you on
    The Devil whispered in my ear "You are not strong enough to withstand the storm".
    Today I whispered in the Devil's ear "I am the storm".
    Das ist der beste tag meines lebens
    Cheap Coffee Lover

    • motivated
    • By motivated 14th Feb 17, 7:17 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    If you haven't seen this thread do have a read.
    Totally inspirational
    11 years a slave
    Good luck with your debt free journey - I'll be cheering you on
    Originally posted by Upsidedown Bear
    Hi upsidownbear and thankyou for popping in.

    oh my I love it and thankyou for sharing this. Over 100k WOW what an achievement. There's hope for me yet and I love the saying emptying a lake with a teaspoon. I may need to steal it That's going to be me.

    I am going to save that story as a reminder if things get tough in the Motivated household.

    Also any tips or advice will be great fully received
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Upsidedown Bear
    • By Upsidedown Bear 14th Feb 17, 8:05 PM
    • 17,495 Posts
    • 76,424 Thanks
    Upsidedown Bear
    Hi upsidownbear and thankyou for popping in.

    oh my I love it and thankyou for sharing this. Over 100k WOW what an achievement. There's hope for me yet and I love the saying emptying a lake with a teaspoon. I may need to steal it That's going to be me.

    I am going to save that story as a reminder if things get tough in the Motivated household.

    Also any tips or advice will be great fully received
    M
    Originally posted by motivated
    A teaspoon for your lake emptying





    If you haven't discovered the Old Style board yet I highly recommend it. What they don't know about stretching the pennies isn't worth knowing.
    Lovely people and super helpful

    Old Style board

    Other than that read the rest of MSE including the main site. Especially read the Debt Free diaries. Continue posting and generally join in.
    I love MSE - it's addictive

    Bear
    The Devil whispered in my ear "You are not strong enough to withstand the storm".
    Today I whispered in the Devil's ear "I am the storm".
    Das ist der beste tag meines lebens
    Cheap Coffee Lover

    • motivated
    • By motivated 14th Feb 17, 8:32 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    A teaspoon for your lake emptying





    If you haven't discovered the Old Style board yet I highly recommend it. What they don't know about stretching the pennies isn't worth knowing.
    Lovely people and super helpful

    Old Style board

    Other than that read the rest of MSE including the main site. Especially read the Debt Free diaries. Continue posting and generally join in.
    I love MSE - it's addictive

    Bear
    Originally posted by Upsidedown Bear
    thankyou for my teaspoon I will start using it right away.

    I have read lots of diaries and intend to keep reading.
    I will also be popping over to the old style board, I need all the help I can get and I think I'm already addicted to MSE.
    Thankyou again and I love your upside down bear picture
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • motivated
    • By motivated 15th Feb 17, 5:50 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Had a telephone call from SC today just wanting a couple of bits of information. All being well we should be up and running within a few days and first payment to go out 1st April

    Everything so far has been a breeze I hope and pray that the next step will be a breeze too.

    Once I know everything is moving along and our payments start to go I will feel a lot better and can finally accept that we are dealing with it and will one day be debt free

    Once priority DDs were paid today I was able to draw out the remainder and pay it into our new account.

    Must ring all DDs tomorrow to change details etc.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Bobarella
    • By Bobarella 15th Feb 17, 6:08 PM
    • 10,555 Posts
    • 67,859 Thanks
    Bobarella
    Well done Motivated I hope it all stays as easy as that too!
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from 40k in the hole 2012.
    Roadkill 17 53.62 2016-62.28 2015- 84.20)
    RYSAW17 1805.58 2016 2,535.16 2015 1027.20
    • motivated
    • By motivated 15th Feb 17, 6:17 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    Hi Bobarella and thank you

    I noticed you are so close to being debt free. Well done and I hope you enjoy the freedom.

    Have you had a long journey like me
    Any tips on the journey and staying positive etc will be gratefully received
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
    • Bobarella
    • By Bobarella 15th Feb 17, 6:26 PM
    • 10,555 Posts
    • 67,859 Thanks
    Bobarella
    Hi Bobarella and thank you

    I noticed you are so close to being debt free. Well done and I hope you enjoy the freedom.

    Have you had a long journey like me
    Any tips on the journey and staying positive etc will be gratefully received
    M
    Originally posted by motivated
    Thank you yes it's finally on the horizon

    I started a business in 2012 that saw me take out a big loan, and then it was using my own credit to bail the business out when it had shortfalls.
    So 5 years end to end really. And although I will be out of debt I am still in a very precarious position really.

    My top tips are to engage in as many ways as you can here. The daily threads and monthly challenges have been a god send.

    I would also say don't look at progress over a month and feel down if it hasn't been amazing. Look at it over 6 months, a year. If the overall trend is good then one month doesn't really need to be obsessed over.

    Remembering you are not your money situation is also a good one. There are times it's easy to feel a bit rubbish if you are in debt. But you are still you and need to keep up the things you enjoy (unless they are buying Ferraris and jet skis)
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from 40k in the hole 2012.
    Roadkill 17 53.62 2016-62.28 2015- 84.20)
    RYSAW17 1805.58 2016 2,535.16 2015 1027.20
    • motivated
    • By motivated 15th Feb 17, 6:35 PM
    • 1,298 Posts
    • 1,398 Thanks
    motivated
    definitely won't be buying fancy cars and jet skis

    I will certainly look at 6 monthly targets or a goal to see how far we've come at Christmas maybe. I am so looking forward to getting started. Then we will be able to see exactly how much we have to budget with and will be able to budget properly for the first time in years.

    Our car tax and insurance need to be paid within the next 2 weeks so this will give us a good starting point to put money away regularly ready for next years. ( if my Ferrari holds out that long)

    Good luck on your last leg of your journey Bob
    M
    I have arrived in DMP Land and I like it. I may stay a while
    Started April 2017

    Short term goal 220/1723.27
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