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  • FIRST POST
    • Louise66
    • By Louise66 10th Mar 17, 8:36 PM
    • 6Posts
    • 4Thanks
    Louise66
    Debt guilt
    • #1
    • 10th Mar 17, 8:36 PM
    Debt guilt 10th Mar 17 at 8:36 PM
    Not sure what advice anyone could really offer and I'm probably just venting but I'm really stressing over debt guilt.

    I finally got the courage to total up my outstanding amount owing this week and was shocked when it came to £24,000. I feel so stupid and guilty and am constantly berating myself for letting it get that far, after all the only one responsible for it is me. The money has been used in some productive ways, I.E my loan cleared off a lot of university debt, paid for my open university degree, my driving lessons and laser eye surgery which although not essential has improved my life considerably. I have to be honest though as some of it has been used less productively and paid for holidays and retail therapy.

    I can pay it all back and have worked out I will be free of all debt within 4 years at the age of 36 and I've never missed a loan or credit card payment. I also routinely move my credit card balance to interest free deals to minimise the potential for the balance to grow too much, my loan rate is also pretty decent at 3.4%. I make repayments each month from my salary but am able to do so because I've foregone owning a car and just use public transport which saves a fortune each month.

    I still feel horribly stressed, stupid and guilty over it though for letting the balance get as high as it is as I was abit too spend happy in my 20's.

    Does anyone else feel the same way over their debts? How do you deal with it?
Page 1
    • Louise66
    • By Louise66 10th Mar 17, 9:12 PM
    • 6 Posts
    • 4 Thanks
    Louise66
    • #2
    • 10th Mar 17, 9:12 PM
    • #2
    • 10th Mar 17, 9:12 PM
    I also forgot to mention that £3000 of it went towards the deposit for my house along with everything else.
    • debtfreeme2015
    • By debtfreeme2015 10th Mar 17, 9:25 PM
    • 242 Posts
    • 216 Thanks
    debtfreeme2015
    • #3
    • 10th Mar 17, 9:25 PM
    • #3
    • 10th Mar 17, 9:25 PM
    Hi. I don't usually reply to threads as worry I may say the wrong thing but I felt I had to reply.

    I'm the same I'm so cross that I let myself get into this mess even though I've been a member here 5+ years it's just never clicked and I've kept spending.

    All I can think about is the huge bills I have to pay and spend everyday waiting for payday
    January 17 Credit card-£3,300- now £2,400 17% Apr
    January 17 Loan-£9,260- now £7,750 5.4% Apr
    • Louise66
    • By Louise66 10th Mar 17, 9:30 PM
    • 6 Posts
    • 4 Thanks
    Louise66
    • #4
    • 10th Mar 17, 9:30 PM
    • #4
    • 10th Mar 17, 9:30 PM
    I completely understand where you're coming from. I long for a windfall of some sort so I can wipe the slate clean.
    • worriedDan
    • By worriedDan 10th Mar 17, 9:43 PM
    • 183 Posts
    • 538 Thanks
    worriedDan
    • #5
    • 10th Mar 17, 9:43 PM
    • #5
    • 10th Mar 17, 9:43 PM
    Hi,

    I know exactly how you feel, but please don't allow yourself to get as low as me. We had our LBM recently and I have struggled massively to face up to the amount of debt we have, even though I am able to repay it. The feelings of guilt worthlessness and shame have at times been too much to cope with. I spent 2 weeks thinking of literally nothing else. I struggled to eat and sleep - I lost 12 pounds in weight in 2 weeks! My work has suffered as I can't concentrate. I am obsessed with all things debt and fiscal and have spent hours scouring the internet looking for people who owe more than me. Overall I have made myself unwell, mentally and physically, and for what????? Money. It's just money.

    I am not our of the woods yet. I am still struggling with these feeling, although its getting better as the days go by. I keep reminding myself that I am taking action to sort my debts and that things can only get better. I read a quote somewhere regarding how people feel when they first face up to their debts. You will be feeling like you are standing in the middle of a disaster at the moment, however the real disaster was when we were still spending and adding to our debts. Having a plan in place to deal with the debts is a major step forwards.

    I wish you well on your journey
    • moneyfacts
    • By moneyfacts 11th Mar 17, 7:17 AM
    • 67 Posts
    • 114 Thanks
    moneyfacts
    • #6
    • 11th Mar 17, 7:17 AM
    • #6
    • 11th Mar 17, 7:17 AM
    I was once in £25k after uni and I think I spent my money on really stupid things. Don't worry so long as not only you pay it back asap, but also change your spending habits completely
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