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  • FIRST POST
    • Tiggerlou
    • By Tiggerlou 25th Aug 16, 12:00 AM
    • 56Posts
    • 111Thanks
    Tiggerlou
    New beginnings.... lets get this debt cracked!!!
    • #1
    • 25th Aug 16, 12:00 AM
    New beginnings.... lets get this debt cracked!!! 25th Aug 16 at 12:00 AM
    Hello... new to the forum and hoping this diary keeps me focussed & positive on the long road ahead....

    My lightbulb moment came this July (2016) .... Just been paid and the same day the bank was bare (overdraft blitzed) after paying all my bills... this has been the case for as long as I can remember but this time something was different for me & I knew I couldn't carry on. My mental health was starting to suffer as I felt guilty I couldn't do nice things with my little boy, I wasn't sleeping due to my problems and my moods with my OH were horrendous.... friendships were (& still are) virtually non existent as I never had any money to go out with them and I started questioning what was the point to life.... then it clicked - I needed help and needed help now and so I contacted step change.

    As soon as I contacted stepchange I immediately felt relief; relief that there could be and was light at the end of the tunnel and that someone could help & support me to get me out of this mess. I felt guilty, embarrassed and ashamed but on the phone the lady was so empathetic I immediately felt at ease... I am not the first person to get into a financial muddle and doubful I'll be the last.

    The first solution they discussed was an IVA and set up a telephone meeting with an IVA practitioner. I sneaked to work early one morning and had the meeting on the phone in TESCO car park of all places - no one but me knows about the situation I am in... OH knows about some bills and goes mad so I feel I can't sit and share anything with him - he doesn't understand - yet he doesn't work and expects all the nice things to just pop out of thin air!! Anyway, after the meeting the guy suggested an IVA may not be the best solution after all and suggested trying a dmp in the first instance. So I phoned stepchange right away and when someone answered and I began to explain, I just cried and cried and cried...

    So here is where I am up to now...
    Decided to go along with a dmp with stepchange and the first payment is due out at the beginning of next month.... can only afford £244 each month on debts of 38k to 18 different creditors so its gonna be a while - but I am determined to be debt free & will work hard to get this cracked sooner rather than later.

    I read thread 10 and thread 11 of the debt free wanabee sections for support and advice and this has really helped - along with the replies that calmed my nerves about my expectation of a flurry of letters, none stop phone calls and door step collectors.

    I have contacted all my creditors to let them know about the situation and had one reply out of the 18 so far to say they accept the reduced payments and will stop the interest.

    So there you have it - the reason why I am here and where I am at now. Its going to be a tough slog but I will get there & I think doing this diary will be a great help...
Page 3
    • Tiggerlou
    • By Tiggerlou 7th Oct 16, 8:04 PM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    Thanks enthusiasticsaver - Yeah I have a separate savings but its so tempting to use it when you see it - especially when you're used to no money!! Feel so much better doing this - I wish I had done it years ago... x
    • BeTheChange
    • By BeTheChange 7th Oct 16, 11:21 PM
    • 89 Posts
    • 437 Thanks
    BeTheChange
    Hi Tiggerlou I have just read your diaryband you are doing well as things have been a little bumpy there starting off your DMP.

    I Have just started my DMP and made first payments this month, it feels so good not worrying if enough money in the account to cover bills. I bizarrely seem to be attracting money this month through planned spends not happening or being less!

    I am subscribing to see your journey progressing as I am sure you will do well.
    Debt @ Sept '16 = £51804 Oct '16= £51,095 1.37% paid off
    Oct grocery challenge = £229.05/£250
    Oct AFD challenge = 20/31
    Oct NSD = 13/18
    Emergency Fund member #209 = 376/1000
    • Siebrie
    • By Siebrie 8th Oct 16, 9:57 AM
    • 626 Posts
    • 10,353 Thanks
    Siebrie
    Good luck on your df journey! Have you looked into wombling? This year, I have had products, free treatments, found money for about £2,750! There is a thread on this in the df challenges section on this board.
    Wombling Free 2016 #2 € 3.114,70 = £ 2,743.95 (it fluctuates with the exchange rate; I won't update it if it's going down ).
    • Tiggerlou
    • By Tiggerlou 14th Oct 16, 8:26 PM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    Oh what is wombling?! Think I need to look into this!!!! Pay day next week and still have money in the bank - never been heard of!!! Alrhough half term the week after so that will eat a hole in the budget I expect... Had a bumpy ride with Lloyds and their letters but apart from that all been quiet this week xxx
    • Siebrie
    • By Siebrie 15th Oct 16, 9:35 PM
    • 626 Posts
    • 10,353 Thanks
    Siebrie
    Search the debt free wannabee challenges section for 'remember you're a womble - 2016' and we'll cheer eachother on.
    Wombling Free 2016 #2 € 3.114,70 = £ 2,743.95 (it fluctuates with the exchange rate; I won't update it if it's going down ).
    • chevalier
    • By chevalier 15th Oct 16, 10:53 PM
    • 7,690 Posts
    • 17,801 Thanks
    chevalier
    Hi Tiggerlou. Well done on having your light bulb moment. The thing that stood out for me is that your OH doesn't work. Is he a student, so will be able to contribute in the future? I felt a bit sad that you can't discuss money issues with him. We don't have much money in our house either, so we always discuss how we are going to buy things before buying. If your OH doesn't know the extent of the household debt (and ie say it that way as I am sure he ate the food, stayed warm with the heat and took the holidays etc), then how can he support you by not putting added pressure on your to buy things?
    good luck with moving forward
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
    • Tiggerlou
    • By Tiggerlou 17th Oct 16, 10:06 PM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    Thanks Chev.... yes my OH isn't too well and is undergoing diagnosis for a rare form of vasculitis so he has his own issues going on.... he's not the easiest of people to talk to, but think he realises now we have a budget and thats us sticking to it regardless.... which has made things easier.... fingers x'd at the moment all seems to be quiet and going well xxx
    • Tiggerlou
    • By Tiggerlou 23rd Oct 16, 9:10 PM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    Third payday since embarking on a dmp and it has been the best thing I ever did... I just wish I had done it sooner but never the less I am on the right path now xxx
    • Tiggerlou
    • By Tiggerlou 12th Nov 16, 8:26 AM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    Xmas nearly sorted and just a few bits left to get and every present has been paid for with my own money and I can't tell you how good that feels x
    • Tiggerlou
    • By Tiggerlou 1st Dec 16, 7:24 PM
    • 56 Posts
    • 111 Thanks
    Tiggerlou
    So Barclaycard have issued 2 defaults and passed my accounts to link financial... dreading the letters arriving again but pleased with the defaults... on the countdown to xmas and still feeling pleased with how well i have done with prezzies xxx
    • CP2016
    • By CP2016 3rd Dec 16, 5:29 PM
    • 13 Posts
    • 18 Thanks
    CP2016
    Tiggerlou, congrats on the BC defaults... some people have to go to extreme lengths to get them. Link were fine with me, I just got a letter saying that they'd continue with the plan agreed with SC. I didn't even need to pass over their details to SC it all happened from BC's end. Don't worry about it.

    I hope everything with the DMP is settling down ok, you will get more transfers to DCAs as you get defaulted but that's ok - the sooner you get defaulted the sooner it drops off your credit record. My DFD has been dropping as I've got pay rises etc. so now I'm aiming for all the defaults to be gone at the same time as my last DMP payment... not that I ever want to see another credit card again but just because it's tidy.
    Stepchange DMP
    Jan 2012: 35k, DFD 2030
    Nov 2016: 17k DFD Mar 2020
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