Looking for Advice Please

Deep_In_Debt

Hi again
I'm with sarriep on this one. I don't care about my credit rating any more as I got into this mess with a good credit rating, I'm quite happy for it to be trashed! I'm in the lucky position that I only have 5 years left on my mortgage (yes, I'm old - but not that old as I got onto the property ladder young!), so I intend to be debt free in 5 years or less anyway and then enjoy my life whilst I'm still youngish enough to do so without worrying about whether I can afford to.

I do understand how you feel though about the credit rating, I felt the same as well but now I have really changed my spending habits. I buy everything with cash now and leave my debit card at home so when the money's gone, it's gone. I've certainly learnt to budget better and have reduced my food shopping by over a half and I don't go hungry either and can still afford the odd night out - which I couldn't before!

Good luck and do keep posting on here.

savingholmes

Your other option or additional option is to try and up your income. Perhaps start with the £10 a day challenge - once you are underway with that you might have enough to repay your debts at the current rate. If you can get your interest frozen then all to the good. A lot of advice on here is if you do get onto a dmp - save money up to offer full and final settlements on things rather than increasing your payment as a one off as they may expect that every month. You may then be able to offer less than what you owe to pay it off and they may accept it getting the debt paid off quicker!