How did you get into debt

village_life

Hi - I usually skulk around the Mortgages and Insurance forum - but have been on this one intermittently....

First of all I think some of the achievements made by the MS's on here is great -well done you :T

However, what I think this forum is missing is detail of how people got into such serious debt issues, if only as a warning for future people to avoid common mistakes/traps etc...

Not wanting people to divulge anything personal or sensitive , but if they wouldnt mind sharing their experience of how they got into debt as well as how they're tackling it - i think that might help lots of people too....

magicmaria

I got into debt when my husband died I turned to on-lineGambling to fill a void I suppose and pass the time, how am I tackling it well I had to re-mortgage my home for 70k and have 22k off credit card debts, I am just keeping my ahead above water

Star1979

Mine was entirely my fault - spending too much coupled with sticking my head in the sand and hoping it would all just go away. I think a bit too much spending when feeling low etc. too. My problems aren't anywhere near as bad as many others who I really admire for having the courage to tackle their problems head on. I recently discovered that my sister and her family have about £20k debt so bought her a copy of Martin's book as she doe not have internet access.

This year is my year for sorting out finances so that I can hopefully save up for a deposit on a flat next year. On my next free weekend I am going to put all my clothes and shoes that I don't wear onto ebay plus some books which should bring in some cash and clear some much needed space in my flat!

$17mma

There are loads of stories as well as the success stories..
http://forums.moneysavingexpert.com/showthread.html?t=33634

http://forums.moneysavingexpert.com/showthread.html?t=147630&page=1&pp=10

http://forums.moneysavingexpert.com/showthread.html?t=123246&page=1&pp=10

Take a look at the post by Xbigman.. inspirational!

http://forums.moneysavingexpert.com/showthread.html?t=33634

Daddyo

Gambling. Pure and simple.

Blinking Betfair !!!!

Avogirly

Spending too much at university..... spending too much after university!!!

carlih1

Hi

Tax credit payments stopped leaving me with £50 a week, then bank charges on top... it all makes things a lot worse!!!

Carli

James240

being an idiot and using my credit cards to go out and having a good time with my mates and keeping up with all of them, and sticking my head in the sand and ignoring my debt

KatrinaC_2

Partly spending too much, partly having to move for my job and then my OH taking longer than expected (9 months!) to find another job.

Kat

*Sparkle*_3

My debt has gradually built up over time, spending on credit cards,store cards, getting a loan to pay them off then spending on them again.
Just brought things like computer, clothes, presents, shopping, things for the house, going out... just anything and everything, living i life style i cant afford.

floridadreamin

Frivilrous spending I'm afraid. Saw it, wanted it, got it. Now got the debt to sort out. I've had my lightbulb moment just trying to persuade OH that we need to trim the fat from the finances.

I have started by dividing our accounts into bills, e-savings and whats left (thats for us to use for eating and petrol etc)