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Lightbulb moment

edited 30 November -1 at 12:00AM in Debt-Free Wannabe
25 replies 11.7K views
crisis_managementcrisis_management Forumite
15 posts
edited 30 November -1 at 12:00AM in Debt-Free Wannabe
Guys

I'm new to this and to be honest I'm embarrassed to start posting. I've spent the last 10 yrs getting deeper and deeper in debt, and I reckon I owe about £140,000 at present. I can still meet the minimum payments, but after reading your posts I've now realised I have to deal with the situation, and right now. I've listed my debts, and prepared a budget which I've managed to stick to for a month (about a third of my usual spending). It'll take me years to get out of this, but I want to thank you for helping me get started.
Hopefully by posting here it'll help my resolve (my face is burning as I type!).

Thanks again

Crisis
«13

Replies

  • Go for it mate

    Good Luck
    :T
    K eep
    I t
    S imple
    S tupid!!
  • You've taken the first mega-step in "coming out", Crisis. I take my hat off to you. Well done - I'm sure you will find much inspiration here over the months and years to come.
  • elonaelona Forumite
    11.8K posts
    There is nothing to be embarassed about - you have realised there is a problem and you have made a plan to solve it and have started to do so.

    You should be really pleased at how well you have done in a short time.

    Have you read the money diet and the advice to pay off the highest interest debts first if you can?
    "This site is addictive!"
    Wooligan 2 squares for smoky - 3 squares for HTA
    Preemie hats - 2.
  • Guys

    I'm new to this and to be honest I'm embarrassed to start posting. I've spent the last 10 yrs getting deeper and deeper in debt, and I reckon I owe about £140,000 at present. I can still meet the minimum payments, but after reading your posts I've now realised I have to deal with the situation, and right now. I've listed my debts, and prepared a budget which I've managed to stick to for a month (about a third of my usual spending). It'll take me years to get out of this, but I want to thank you for helping me get started.
    Hopefully by posting here it'll help my resolve (my face is burning as I type!).

    Thanks again

    Crisis


    Welcome bud, if u want to see if people can help u cut it down that little bit more i wud suggest that u post ur outgoings on here as well as ur income. Also look at trying to flog what u can on ebay, £140k is a shed load of debt to be in and u prob need to talk to someone bout it if not just to stir u crazy!!!

    mine is only a tiny debt comapred to urs but i am sure that the great people on here that have been in a more comparable position like urs will come along and help out!


    Will
    SShhhhhhhhhhhhhhhhhhhhhhh
  • Well that's the hardest part over! :j
  • best of luck mate i have just recently had my light bulb moment but there is plenty of great people to support you

    Lots of great advice to be had as well

    Good luck mate
    Only when the last tree has died,the last river has been poisoned,and the last fish has been caught,
    will we realise that we cannot eat money.
  • Hi Crisis,

    If you want to post a SOA on here we will all be willing to throw our thoughts towards helping. There maybe something you missed, haven't considered!

    Take a look at this thread and post back here.

    http://forums.moneysavingexpert.com/showthread.html?t=107280

    And I know how you feel. When I first posted my debts I to felt embarrased, ashamed, stupid, but you are not the first and unfortunately you won't be the last.
  • Thanks folks; I have read the bit about paying off the highest interest bits first, and I'll try to do that. Unfortunately I don't think I would be accepted for any 0% cards, and I don't want to further damage my credit rating by applying.

    Crisis
  • Don't know if you've seen it before mate but this calculator is excellent.

    http://www.whatsthecost.co.uk/snowball.aspx
  • how very brave of you to go online and make that statement. You should be so proud of yourself. With all that debt though maybe you should have a clear out, get some of it on Loot. I have sold loads of stuff on there. Or maybe do a car boot.
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