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Life without credit

Artist_in_the_attic
Posts: 1 Newbie
I had to make myself bankrupt recently after month and month worrying about paying all my creditors.
I had a lot of support from CCCS and bankrupcy although it sounds very scary and the ultimate step was the best option for me. AS I only receive state benefits due to my ill health and own no property of any value ie; house, car, etc.
all I had to apt the £600.00 court fees. Money very well spent, as I owed about £15000 in catalouge debts etc.
It is difficult to adjust to life without credit especially as we live in a culture of buy now pay later. The emperors new clothes, I think. And yes the person that mentioned not being able to internet bank was right. I too opened a
Barclay's account and was told I could internet bank but now it seems I can't. So things are a bit more complicated. Especially since I am agoraphobic and cannot go out to check my account or go to the bank easily . However living without credit seems the better option. Just have to get used to it. Who knows I might even be able to save one day.
I had a lot of support from CCCS and bankrupcy although it sounds very scary and the ultimate step was the best option for me. AS I only receive state benefits due to my ill health and own no property of any value ie; house, car, etc.
all I had to apt the £600.00 court fees. Money very well spent, as I owed about £15000 in catalouge debts etc.
It is difficult to adjust to life without credit especially as we live in a culture of buy now pay later. The emperors new clothes, I think. And yes the person that mentioned not being able to internet bank was right. I too opened a
Barclay's account and was told I could internet bank but now it seems I can't. So things are a bit more complicated. Especially since I am agoraphobic and cannot go out to check my account or go to the bank easily . However living without credit seems the better option. Just have to get used to it. Who knows I might even be able to save one day.
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Comments
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Co-Op Cashminder; you do have internet access; although its not real-time updated they only update when the transactions have gone through the system.
And life without (or very little) credit itsn't that bad!0 -
Cashminder does indeed have internet banking and the staff are exceptionally helpful in setting it up...and for a dufus like me who managed to lock myself out also very good at resetting up
also my wage went in today and it shows as being in...
as for life without credit, ill be honest its the bit im most looking forward too...no credit = no mess0 -
stevemarsh1976 wrote: »as for life without credit, ill be honest its the bit im most looking forward too...no credit = no mess
Thats the way I feel too.0 -
I have managed quite happily without credit for 3 years now. Though I now have a Credit Union account with some nice savings in it and I got a CU loan at Christmas to get a new car. I am still paying the same amount into my CU account and a percentage goes to pay off the loan and a percentage goes into the savings so I still have that as a fall back if needs be.
I now have a Very account and I order stuff and pay it off each month to get those green ticks on my CRF's.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
since 2008 i have not used any form of credit and i have to say i am much better without it. at first it was a bit of struggle . i don't have to worry about increasing m,y overdraft because they were fess which swallowed our wage etc... etc....
I have a bit of savings .
however regarding the internet banking what i do is to track all my spending on a book including all outgoing and incoming, never had any problem so far with this .BSC number 1830 -
life is so much easer with out debt I have manage to save money too and have money left in my bank account at the end of the month :jSealed Pot Number 018 🎄2009..£950.50 🎄2010..£256 🎄 2011..£526 🎄2012..£548.80 🎄2013...£758.88🎄2014...£510 🎄2015...£604.78 🎄2016...£704.50 🎄2017...£475 🎄2018...£1979.12 🎄2019...£408.88🎄2020...£1200.63...🎄2021…£588 🎄2022 £672… 🎄2023 £3,783.90 🎄2024…£3,882.57🎄20250
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Both Hubby and I went BR on 15 March, and I must admit I personally have found it to be incredibly strange paying for things with Cash instead of putting it thru my debit card (or credit cards - but as we haven't used them for over 12 months they aren't missed as much). We do have a Co-op cashminder account but I am trying to leave that for just the DDs.
I miss knowing that there is that buffer of an overdraft, because having that and the credit cards made me feel safe. You see I always carried them with me, just in case something went wrong, to get me out of trouble should I land in it. We had a total credit limit on all the cards big enough to buy a house if we had maxxed them out so I had a pretty big safety net!
We have never had savings - always paying off credit cards isn't conducive to saving - and I never learnt to save as a child (Mom and Dad never had savings either), so the past few weeks have been strange and hard for me. But I like knowing that the bit of cash I have managed to save so far is there and that is an achievement for me. I know that I have to re-educate myself in how I spend and why I spend and now I HAVE to do that so its not so much as a life after credit but a life where I learn to think before I spend!
P.s. Being BR hasn't really sunk in for me yet. I still feel very much in debt and responsible for it - that is at the back of mind every day, haven't begun to believe that its not all waiting to ambush me round the next corner. I worry about my home we plan to follow the vol reposs path but will I find an affordable home in the area we need to be??? We will see!Donna
Economy; careful management; providence. Whether you call it thrifty or frugality it all comes down to getting more for your money.0 -
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I am quite enjoying the no credit thing, although it has been hard getting used to it.
We have our budgets for things, and when that is spent then that is it to the next month.
So far we have been ok with them, but the car will need a new exhaust soon and we are going to struggle with that. Just need to try and save a bit lol!0 -
I am loving life without credit, everything I buy is paid for up front and I don't owe anyone anything.
I think like most, there have been bumps along the way, like when the washer decided to take it's last spin and the car thought it would be fun to fall out with the clutch. But somehow I managed, with a bit of belt tightening and some good advice nicked from the OS board everything got sorted, without the need to sell my soul to the credit devil :eek:
It felt bl**dy good to do it too. Long live my credit free life :T0
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