Advice please

Gemini_Girl_2

Hello everyone

Its such a comfort reading through these threads and realising I am not the only one struggling to enjoy life with debt over my head.

I currently have a £20k debt and have a DMP with CCCS - the best thing I ever did!

Im 28 years old and I feel like there has to be more to life than working my !!! off to pay off my debts, I cant save for holidays or the future and am finding this tough. I know I have to prioritise my debt but after 4 years Im just getting fed up. My boyfriend and I really want to travel the world before we get married and have children but I fear I will be nearer 40 before I can do any of these things and dont want to wish my life away anymore.

My question is this - am I able to go travelling for a year even though I have these debts to pay? Can I take a year break? or am I tied to this country until I get rid of it all?

Thanks :j

Mikeone

I would doubt it, but you can talk to CCCS to be certain.

How long have you got left on the DMP, and what kind of progress have you made so far? It might be an encouragement to look back at what you've achieved.

Fitzer2000

It's extremely unlikely that your creditors would allow you to take a year off. Firstly they'd want to know how your going to finance this trip ( as will CCCS) What type of debt do you have, CC, loans, overdraft. If you pos a Statement of Affairs we can take a look and help where can!

fatbelly

A dmp is not legally binding - it's an informal arrangement.

You can do what you want.

You might come back to find that you have a few ccjs, and you might not!

bargainbetty

I know it's frustrating, but you are doing so well, and messing it up now will last a lot longer!

I do have to echo Fitzer - how would you pay for the trip? If you decide to disappear for a year, you may well find when you return that you get very little sympathy from and of the DCAs, because you will have intentionally put yourself in a situation where you are not paying and will probably increase your debts.

Sorry, but you are old enough to know the reality. Save up your pennies, get a second job, do what you have to do to get away for a cheap week in the sun (you can find some good cheap deals) if you must. it will probably give you a huge boost and be the restorative you need to get back on the wagon.

Also remember that if you step away now, you might find yourself having kids etc with all the debt still slung around your neck.

I want a holiday. I can't afford one at the minute. So I'm not having one. I have spent six years clearing my credit cards and getting debt free (except the car and the mortgage) and I have no intention of slapping it onto a card, just so i can have instant gratification. I content myself with getting sunburnt sitting in my mum's back yard.

Good luck x

Pee

If I was you, I would plan the round the world trip, get some idea of prices and then have a serious look about how you propose to finance that/ having children. How about travelling with a tent in this country during the summer? I have the same wanderlust as you have but I have decided being financially secure to have children is more of a priority to me at the moment and the travelling can wait. As you say, it's a matter of priorities and your priorities and mine may be different. There are options such as working abroad but they usually do not offer very good wages. I am thinking of teaching English as a foreign language. It pays enough to live in the local currency, but not much extra for paying off debts. On the other hand if you had a medical job, you might be able to do a year in Australia, probably with higher wages than here so that might be worth considering.

Cocorico123

Can you look at ways of reducing your debts so that your debt free date could be sooner? Do you have PPI or credit card charges on any of your debts? I started reclaiming ppi and charges back since February this year and have now reduced my debt by £8,000! I still have two cases with the ombudsman, so I am waiting and keeping my fingers crossed that this will further reduce my debts.

My debt free date has gone from being over four years away to two and a bit, which is fantastic and I am starting to see the light at the end of the tunnel. The guides on MSE are fantastic and talk you through the process step by step, and the support you get on the forums is great.

Choc-addict

I can totally understand your frustrations but unfortunately I can't see that you can take a break from paying the debts unless you just don't pay them and that would kinda be wrong

How long do you have left on you dmp? How much do you pay towards them? Sorry if this is too personal.

Perhaps put a mini SOA on here see if we can't help? Can your OH help out more to free up some of your cash i.e. food shopping etc (i'm assuming that you live together) or spends when going out?

Perhaps look at 6 mths travelling instead of a year and work out a savings plan over next couple of years to fund this and cover your payments for your dmp for the six months you are away? You'll be 30 then so still plenty of time!

As I said totally understand where you are coming from and we all have times when it feels like all we are doing is working to pay of the debts....it's miserable

Good luck lovely x

missworks2jobs

I have to agree with some of the other posters....you could go travelling, but it will seriously affect your future. Yes its getting you down now, and the break might do you good, but personally I like having a goal to aim for, a light at the end of the tunnel. If I had my fab travelling holiday and had to come back to even more scrimping and saving it would devastate me, and make the travelling holiday totally not worth it. Thats me personally though, you have to do whats best for you.

You have to think which do I want more? 1) To be out of debt & have a family sooner, but not go travelling.
or 2) Go travelling, take even longer to pay off the debt & have a family even later.

Good luck with whatever you decide x x