how did you end up in debt?



  • Hippychick
    Hippychick Posts: 738 Forumite
    Mine started when I was 18, I worked for Topshop and in order to get the 25% staff discount you had to buy anything on their own store card, so they roped me in that way.

    I then went to Uni, managed to budget fairly well and left with only my overdraft to pay back. I then started working but wasn't actually earning much money, I moved in with my OH who earnt a lot more than me, but me being silly decided everything should be split 50/50 rather than proportional to what we earnt, so the credit card bills slowly started creeping up.

    Then the final nail in the coffin was I became ill with iflammatory arthritis and wet through a mini phase of needing lots of new stuff, I now realise I had developed mild depression which exacerbated my spending. Thankfully 2 years ago I pulled my head out of the san and am now well on my way to clearing my debts, hopefully all should be paid back end of the year/early ext year.

    CC debt at 8/7/13 - £12,186.17
    Barclaycard £11,027.58
    Halifax £1,158.59
    5 year plan to live unsecured debt free and move home
  • ikkle87
    ikkle87 Posts: 8,449 Forumite
    Name Dropper First Post First Anniversary
    Brilliant thread.

    I have written my response 4 times now and each time I have dwelled and deleted it. My replies all seem to be pointing the finger at someone else or at circumstances and I think part of me doesn't want to write that because its not putting any responsibilty on me and I am responsible for my debts and openly admit that.

    I made the biggest boo boo of my life by being with my ex, not just money wise but life wise too but thats something else. I took out credit to furnish our home which he agreed to help pay back. I paid some of it off but we were growing apart. I went into hospital and when I came home he was gone and so were most of our belongings. This was after 3 years together. I muddled on still managing with my expenditure levels thanks to my good job. Then last year I had to give up working due to poor health. My income plummetted from £300+ a week to £65 a week and I couldn't cope so I stopped paying bills and interest charges got added and my debts went up and up and up.

    So now here I am a DFW on a DMP, living with my grandparents who help to look after me and I'm getting life somewhat sorted.

    People are all too quick to point the finger and judge others sometimes, it's a case of 'it will never happen to me' but it does and people get through it, and then with sites like this they help other people get through it,times often look bleak but I know that if it hadn't been for this site they would have been a damn lot bleaker. Nobody knows how scary being in debt is till they have been there.

    My nana laughs at me when I hobble off as fast as I can to collect the post on a morning cos I'm excited to collect my freebies that I have sent off for and I don't start crying when I get a bill because I know in my heart of hearts that I reached my turning point and that I am taking control again and that one day I will be debt free.
    You never know how strong you are until being strong is the only choice you have.

    xx Mama to a gorgeous Cranio Baby xx
    NW-ANGEL Posts: 299 Forumite
    IKKLE you have seriously just choked me x sincerely - well done you - you sound so positive too after what you've been through. dont think there are many on here that will judge! very minority, have to say i've not experienced any yet! all positive!
    kel x
  • Yes and it doesn't cost us a penny :j :j

    Except the elecrtric to run the computer!!!!!!!!
    See true moneysaver!!:rotfl:
    MFW - We've only gone and blooming done it!
    May 2013:j
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    Now that would be lovely, before that DF day arrives I want to have all the stars and stripes from MSE that you have!!

    Perhaps we should call ourselves the July 08 support group?????

    I just talk too much :rotfl:
    No longer using this account for new posts from 2013
  • LilacPixie
    LilacPixie Posts: 8,052 Forumite
    Greed, pure and simple. We wanted it all ways.

    A friend was moving abroad with her partner, Just as property prices were starting to rise. She offer us her flat for 31k which at the time was its valuation. We had been sort of looking for a flat so we decided to go for it.

    We had no deposit, no furniture and basically no idea so we took out a 100% mortgage over 25 years, decorated it on c/cards and furnished on the by now pay later deals thrown about by furniture shops.

    This would of been managable if we were not going out every weekend to clubs and living on takeaways.

    Total stupidity
    MF aim 10th December 2020 :j:eek:
    MFW 2012 no86 OP 0/2000 :D
  • Forgetmenot68
    Forgetmenot68 Posts: 325 Forumite
    Thank you Ruby. Love to you all after the loss of your son's team mate. xx
    LBM 16/06/08 - Credit card debts June '08 [STRIKE]£49,145 [/STRIKE].... Feb '13 balance £38,478 ... We'll get there :o
  • Debt......O debt........

    Never realised we spent as much as we do until looked at this site its frightening.......ours has just been on wee things lunch out here a take away here a holiday paid for on cc even things bought on cc we dont live a high life or so we thought until we have just faced up to it.....

    Hopefully we will be debt free soon as we have a house we inherited to sell if all goes well its been dragging on for ages went to sign last week we need a claus sorted (the money was there and all could have cried!!)so think we owe about 25k dear lunches & takeaways & spending without thinking feel silly as most of it has been down to me:mad: & to be fair to hubby he hasnt blamed me once:happyhear but any way thats my story & do you know im glad ive written this as ive never talked about it before.......always buring head in sand hoping it would go away.........
    Save 1500 - (Monzo Card Pot by Dec 2021) 1020/1500 
    12 NSD MAY 3/12
    Lose 21lb by July .......................4 /21LB 
  • Thanks to everyone for replying, it is amazing to hear everyone's story and even though they are all different, we have all ended up here!! Every cloud.... and all that.
    The good you do comes back to you.
    DFW Long haul supporters No: 134
  • penguin83
    penguin83 Posts: 4,817 Forumite
    First Anniversary Combo Breaker
    To cut a long story short we had 2 kids and bought a house before I was 21. The debt kind of went hand in hand with that - no holidays, fancy cars, designer shoes or anything really to show for what was almost 50k worth of debt - but 1 year on and its 38k and dropping!

    I agree with others - the support on this board is amazing - I wouldnt have made such a dent in my debts without this place! x x
    Pay Debt by Xmas 16 - 0/12000
    There is something about the outside of a horse that is good for the inside of a man.
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