How did we all get here?

brians_daughter

i got in debt due to a relationship breakdown 6 years ago. i was only working pt and had to get a cc to pay my mortgage!! Then i has costs in selling the house and buying another, now i do have debts but after xmas they will be more manageable as one of my loans is paid off and i can use that towards some of my other debt

southernscouser

I guess it was a champagne lifestyle on a lemonade budget. :undecided

Eating out all the time.

Buying new clothers.

A couple of new cars (not at the same time I may add ).

Holidays at places and hotels that Premier League footballers, who earn more in a week than I earn in a year, stay at for crying out loud. :rotfl:

:rolleyes:

Jazzie99

Over spending for us! Also consolidating credit cards to loans and then spending on the credit cards again - living the high life before the kids came along.

Having children has changed our whole financial outlook (got two children under 4) - they are our inspiration to sort ourselves out!!

Deep_In_Debt

Mine accumulated over quite a few years. I've always been a bit rubbish with money.

Living beyond my means as I had no problems getting credit being a home owner on a reasonable salary and having far too many credit cards and robbing Peter to pay Paul and paying for stuff on credit because I knew I could. I also have a very small mortgage so I guess I never had to worry about meeting mortgage payments or paying bills. Then consolidating several times (worst thing I ever did!). My dad dying sent me into a spiral of destruction for a while where spending kept me happy.

Also having an OH who was even more rubbish with money than I am didn't help and found myself supporting him for a while and he was earning more than I was. All in all, found myself in 27k of debt and the repayments were coming to more than my mortgage repayments. That shocked me when I had my lbm and gave me the kick up the bum I needed to sort myself out.

Thankfully, I've seen the light and am now on a dmp with CCCS and paid off about 7k of debt in 18 months and still have a long way to go but I'll get there sooner rather than later as my mortgage is due to be paid off in 5 years so intend to be debt free by then.

*Vikki*

Ames wrote: »

I know that it's my fault I'm in debt, but does anyone else think that the banks are in the wrong to some extent? I know when I started to struggle, they put up the balances to absorb their charges, which seems wrong to me. And on here I've read countless times of massive interest rate hikes at the first whiff of trouble. Not to mention bullying into consolidation loans etc. Surely they should be more responsible too?

Oh I agree, I blame the banks/credit card companies for lending it all out far to easily, knowing full well people won't be able to pay it back when they have so many cc's.

d1965

how did I get into debt.......... By wanting more things which were needless....... didn't have the wage too keep me in that lifestyle.......am i happier now dealing with my debts..............YES material things are not a necessity...having a roof over your head food in your belly and your priority debts paid if there's no money left at the end of the month then. so what my priority debts are paid n i can eat..... it's a humbling experience debt but it does show you what little you can survive on with a little bit of thought and planning.;)

lola34

I got my first c/c at 18 - trips to London and designer cothing and it soon built up - bearing in mind this was before minimum wage and my full time wage was less than 400 per month eventually got it cleared, bought my first house and all was fine, had first son and all was fine but wih the 2nd the c/c started again unbelieveable how much more expensive two is compared to one, 2 years ago I recieved some money and once again paid them off but as you will see they have crept up again, just with everyday things can't even say that I bought anything big on them!!!!!!
Have been looking at a loan to clear them but it doesn't work out- needless to say I have cut them all up, the B/card is now in the reduced rate for eixsting customers, the only one I have is the Nationwide and that was purely for the 0%abroad - ebaying like mad and hope to have the M&S cleared by Xmas, B/Card may take a little longer!!!!!
I think for me a c/c was habit - easier to pay and getting one at 18 makes you feel like a grown up!!!

willstewart

I've had a few holidays and bought various things that I didn't always need. Then I didn't pay enough back and the amounts started to go up until it's got to the stage where I'm paying 3/4 of my earnings out each month. I've looked at what I could have done over the last couple of years if I wasn't paying out money for credit cards month in month out and finally decided I want more out of life than this perpetual cycle.
I'm not in as bad as a postion as some people - my credit rating isn't that bad although some things do have higher rates than I would like - it's just that I don't budget properly and end to end up spending money in the wrong places rather than doing the right thing with it. I could easily clear most of my debts within a year if I put the money onto my cards etc.

littlepinkstars44

mines all happened the day i turned 18, was offered a student overdraft and credit card. Spent it all on clothes, shoes and nights out.
Then i got a Dorothy Perkins card, as all the credit had run out and i needed yet even more clothes.

A second student overdraft, went on even more nights out, make up and yes...you guessed it...more clothes.

Got a new job in Topshop, had to have a staff store card to get my staff discount....and even more clothes.

New Look Card....even more clothes.

And when all that wasn't enough...i know lets throw in 2 catalogue accounts....for some more clothes..


I think we can see where my problem lies

southernscouser

littlepinkstars44 wrote: »

I think we can see where my problem lies

You're a naturist?