Finally debt free...a message of hope to all MSErs!

[Deleted User]

Hello All,

Finally...on this day the 17th February 2010...I, Bungle...Jemson...am debt-free!

In 2005, I owed over £24,000 in unsecured debt. Now, I owed nothing.

I am completely over the moon and feel a thousand weights have been lifted from my shoulders. Although I'm not technically debt-free until the payments have cleared, in a few days it'll be a formality.

Today I just paid £11,566.47 to clear my Abbey (Santander) loan - so I will NEVER have to speak with one of their customer service advisers again. No more holding. No more transferring between departments. No more annoying hold music.

And I'm just about to clear my Barclays loan - subject to the FOS investigating my complaint into the loan in the first place - so that's gone too.

I will still have a very small overdraft, but in three weeks I get paid again and that will have disappeared too.

So, to all other people with debt...don't give up hope! And thank you to MSE!

workinonit

congratulations

Apricot

Congratulations - it must be an amazing feeling! Can't wait until my DFD!

LexieLou

Congratulations, it must be an amazing feeling, and thank you for telling us all that you succeed on your journey. It keeps me motivated.

[Deleted User]

Seriously, keep fighting at it - it's worth it in the end.

When I got into debt I found it easy to spiral. It started off as a graduate loan to clear my uni debts...then credit card...then a loan to consolidate...then an extended loan...and more. It's so easy to get sucked in.

Along the route I had some incredible low points. In particular, in 2007, I found myself with absolutely nothing at all. As soon as I got paid, it would be spent on repayments and I'd have to survive for weeks without being able to withdraw a penny. It got so bad at one stage that I would run 7 miles to work and 7 miles home again, and I would eat rice and soy sauce as that is all I could afford. I considered bankruptcy, but I didn't feel it was appropriate - I could pay my debts, and I was learning a good lesson albeit in a very tough way.

I had other very low points. Once I found myself in sainsburys tipping all my 1ps and 2ps into the machine to change them up just so I could afford my train fare to work. At other times I would pay my fare using 10ps (all I could find) and the machine wouldn't accept so much change. It was a horrible, bleak, depressing period of my life.

The only reason I could pay my loans off is because I quit my job and set up my own business, which I sold last month. The proceeds from that were relatively small, but were enough to clear my debts. I am finally debt free. It feels amazing!

No matter how bad your debts are, just remembed that they are just debts. You always have an escape route, whether that's paying them off or declaring bankruptcy. While you might seem trapped, you're not - and MSE is an amazing resource for helping you fight back against 'the man'.

I reclaimed £1000 of bank charges, the FOS have held in my favour on my graduate loan and thanks to the advice on here I'm due to receive some repayments back from my banks.

What have I learnt?

Barclays Bank really are the worst bank in the world. And I'm not exaggerating. I struggled to remember a single transaction with them that wasn't without stress or complication. Everything about my experience with them was stressful. I am now finally closing my account with them and will be writing them a very short two-word letter thanking them for their support recently. The second word will be 'off'. If only to make myself feel better at finally escaping their grasp.

Abbey's customer service is useless. Avoid them like the plague.

MSE is your friend - long may it continue!

blue-bells_2

Great post. WELL DONE!! :beer:

savingmummy

WOW!!:j
Well done you have certainly worked hard and suffered BUT come through

You should be very proud of yourself!!!:T

Not many people would run to and from work!!
Eat rice and soy sauce most days to survive, some don`t even stop/reduce their luxeries :eek:

Enjoy beinf DF :beer: i`m sure you will

debtdesperado

congratulations bunglejemson! Any other pearls of wisdom? I'm finding my debtfree journey a hard slog at the moment so I LOVE reading posts like yours to remind me that eventually I will get there.

well done!

KipKip_2

Massive congratulations to you bunglejemson!

Wow, 7 miles to and from work, I can barely get my bum out the door once every two weeks for a run! :rotfl:

rice & Soy Sauce, been there! beans & pasta (dry!) was one too! but you do survive, you get through it and I'm just under halfway thru my DFW journey, your post has inspired me even more!

cannot wait until I can post my Debt-Free status up here - although im tempted to keep a debt of say £1.00 to an overdraft or something so i can stay on the DFW board as I've never had so much support and great inspiration in my life!

:j:money::j:money:

bloodofareptile

Woo hoo! Congrats! You've done so well - excellent motivation!

Bagpuss741

Congratulations:j I can't wait to be debt free and stories like your encourage me to keep at it:beer: