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  • FIRST POST
    • timeforachange85
    • By timeforachange85 9th Jul 17, 8:10 PM
    • 5Posts
    • 4Thanks
    timeforachange85
    Time for a change
    • #1
    • 9th Jul 17, 8:10 PM
    Time for a change 9th Jul 17 at 8:10 PM
    Hi

    First time poster so please be kind

    So I've been a long time lurker on the forum over the 2 years since I had my lightbulb moment, and it was because of this forum that I found the help I needed to get into contact with Stepchange who gave me some excellent advice and started me on the road to getting my debt under control, with a supported DMP.

    I suppose you could say I've now had my 2nd lightbulb moment where I needed to take back control of my finances and planning to go self managed.

    I started my road 2 years ago at rock bottom I'd been made homeless and jobless in the space of 24 hours, I still was in head buried in the sand mode and thought I could get myself out. Ended up putting everyday expenses and living on loans, credit cards and eventually payday loans until I couldn't get anymore.

    Ended up selling everything I could and packed all my belongings into the back of a 3 door Cilo and made a very long trip back to my parents, who didn't know the full details of my debt problem. I love my family but they weren't the most understanding.

    I remember that first phone call to Stepchange I spent the better part of 45 minutes crying my eyes out, the relief of knowing that someone could help me was amazing.

    Fast forward 2 years, I've been working in very poorly paying bar work, the only work I had been able to get and still managed to pay off over £6000 more than I ever thought I would be able to. This week however I started a good job one I think I could work my way up in, but it is still early days. This has prompted me to want to get my life back on track.

    So tomorrow I will be sending off letters to step change and my 13 creditors to advise them with the help of NEDCAB website I am going to go self managed. I'm nervous at what they will say? will they agree to the new offers? I've reduced my payments because I have no emergency fund something I wish I had set up when I first started with Stepchange, the last 2 years have been very tight, no money for myself at all and I desperately need to buy myself some new works clothes.

    So this will be my diary of my journey though self managed DMP

    thanks for reading

    Time for a change

    xxx
    LBM June 2015 debt £25,378.46 £18854.74 paid off £6523.74
Page 1
    • UncannyScot
    • By UncannyScot 9th Jul 17, 8:20 PM
    • 616 Posts
    • 2,749 Thanks
    UncannyScot
    • #2
    • 9th Jul 17, 8:20 PM
    • #2
    • 9th Jul 17, 8:20 PM
    Hello and welcome
    The folks here are great and I'm sure you will find loads of inspirational ideas to save money and cut your debts.
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • timeforachange85
    • By timeforachange85 9th Jul 17, 8:23 PM
    • 5 Posts
    • 4 Thanks
    timeforachange85
    • #3
    • 9th Jul 17, 8:23 PM
    • #3
    • 9th Jul 17, 8:23 PM
    Hello and welcome
    The folks here are great and I'm sure you will find loads of inspirational ideas to save money and cut your debts.
    Originally posted by UncannyScot
    Hi UncannyScot

    Thanks so much for the kind words, I've just reached that point where I'm ready to start living again and tackle this myself, I've found myself re-reading threads and thinking they are great ideas

    Time for a change x
    LBM June 2015 debt £25,378.46 £18854.74 paid off £6523.74
    • UncannyScot
    • By UncannyScot 9th Jul 17, 8:30 PM
    • 616 Posts
    • 2,749 Thanks
    UncannyScot
    • #4
    • 9th Jul 17, 8:30 PM
    • #4
    • 9th Jul 17, 8:30 PM
    I understand that you are going for a self-managed DMP via your local CAB?
    (I had to search )

    I am heading onto the sequestration (bankruptcy) trail with the assistance of my local CAB at the end of the month. Honestly cannot praise them highly enough for their help and understanding. Highly recommend that they should be first port of call for everyone.
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • timeforachange85
    • By timeforachange85 9th Jul 17, 8:46 PM
    • 5 Posts
    • 4 Thanks
    timeforachange85
    • #5
    • 9th Jul 17, 8:46 PM
    • #5
    • 9th Jul 17, 8:46 PM
    Part of me wishes I'd found them much sooner, but I don't think when I started the DMP journey two years ago I would have actually been able to cope on my own I was in a pretty dark place.

    I looked at bankruptcy at one point as it was suggested to me, but for the jobs I wanted to go into it would have been a no no, so I've taken the much longer route. Aat the rate I'm going it will be another 10 years before I'm debt free, but hoping that I can make it sooner than that.

    But we never know what the future holds for us
    LBM June 2015 debt £25,378.46 £18854.74 paid off £6523.74
    • UncannyScot
    • By UncannyScot 9th Jul 17, 8:56 PM
    • 616 Posts
    • 2,749 Thanks
    UncannyScot
    • #6
    • 9th Jul 17, 8:56 PM
    • #6
    • 9th Jul 17, 8:56 PM
    Have a wee look at my "Rambling On" Diary, if you haven't already

    I did look at a DMP, however it became obvious that it was not a practical or feasible solution for me and that sequestration was my best option.
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • timeforachange85
    • By timeforachange85 10th Jul 17, 6:45 AM
    • 5 Posts
    • 4 Thanks
    timeforachange85
    • #7
    • 10th Jul 17, 6:45 AM
    • #7
    • 10th Jul 17, 6:45 AM
    Good morning

    Thanks Uncanny Scot will take a look when I get home from work this evening.

    So week 2 of the new job, last week I was pretty silly and going from working late at night to early morning was rough, I just wasn't organised and was spending £3-£5 a day on lunch. I can't be doing this.

    So going to try and make today a no spend day, I have food in the fridge so going to make myself a packed lunch. Haven't done this this I was in school.

    On way into work I'm going to pop in the post the cancellation letter of my DMP to Stepchange and letters requesting payment details to my creditors. Most of them have been sold on now with two hold outs, I've never posted so many letters, 14 in total. Fingers crossed this all goes smoothly, especially as I've had to cut down payments to them due to changing jobs £500 less from my last job (bar work) and don't get paid for a month from the new one.

    Thanks for reading

    Time for a change x
    LBM June 2015 debt £25,378.46 £18854.74 paid off £6523.74
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