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Credit card debt
dorisday
Posts: 299 Forumite
Hi all
such a great site. Got into debt quite a few years ago £60000 and to cut a long story short ended up after an failed IVA dealing with the creditors myself and im still paying them, its taking years but eventually will get there. Problem is I applied after 6 years for some more credit cards and had a new kitchen and other things for my home. I probably spent about £20000 on these cards all 0% interest for some time. I didnt feel good about it and have managed to trim it down to £11000 in a few months, but I still dont feel good about it. I realise that I much prefer to use cash and then if anything happens and I dont have to worry about having the extra burden of paying interest on debt. I have actually cut up 4 of the credit cards Ive paid off so it just leaves 3 to go and I want them all gone by end of next year or sooner if possible and then I shall target my mortgage. Its only £19000 but when I think of all the interest thats added on to this it really gets me mad, wish I had paid more off when I could, but we dont learn until its almost too late!! Anyhow just wanted to write this all down. Once you get your fingers burnt its not so easy to do it again.
such a great site. Got into debt quite a few years ago £60000 and to cut a long story short ended up after an failed IVA dealing with the creditors myself and im still paying them, its taking years but eventually will get there. Problem is I applied after 6 years for some more credit cards and had a new kitchen and other things for my home. I probably spent about £20000 on these cards all 0% interest for some time. I didnt feel good about it and have managed to trim it down to £11000 in a few months, but I still dont feel good about it. I realise that I much prefer to use cash and then if anything happens and I dont have to worry about having the extra burden of paying interest on debt. I have actually cut up 4 of the credit cards Ive paid off so it just leaves 3 to go and I want them all gone by end of next year or sooner if possible and then I shall target my mortgage. Its only £19000 but when I think of all the interest thats added on to this it really gets me mad, wish I had paid more off when I could, but we dont learn until its almost too late!! Anyhow just wanted to write this all down. Once you get your fingers burnt its not so easy to do it again.
Look after the pennys and the pounds will look after themselves:money:
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