2 years post bankruptcy and another 5 grand of debt!

dreamcatcher73

I was declared BR in 2009 and now two years on through bad money management and pure stupidity I find myself back in debt :mad:

This time I am prepared to tackle it the right way, by paying it off, to be honest I think that the hardship I will go through to do it will help me develop a better money head for the future.

I was scared to post this, thinking I would be ridiculed for having got myself in this position again, but I know most of the MSE's are lovely people who will not judge me and I really need the support of this forum to keep me on the straight and narrow..

I WILL get debt free (again) and I WILL stay debt free this time!

12 debts to go....

Tixy

Hi and welcome back, I'm glad you did decide to come back as I think its always easier with support.

Do you have a plan of action? have you worked out a budget you can stick to? As you probably know the first thing we always suggest is a statement of affairs and a spending diary. Have you made a start on those at all?

Hopefully this time round you will know a lot of your own weak points for spending and will be able to curb them that bit easier. Have you finances changed a lot since when you went bankrupt? in terms of income or essential outgoings etc.
I assume you didn't have an IPA from that that you are still paying back?

dreamcatcher73

Hi Tixy, thank you for the support, I really was scared of coming back, having been lurking for ages!

I have a plan and have recently contacted all of my creditors and arranged payment plans and I have been very lucky as they have all frozen interest and charges. Since the BR I have found employment and sorted my finances, it's just my stupid spending that has got me into this position again! I worked out this morning that I will be paying about £700 a month towards debt repayments and that has really shocked me! That is a crazy amount of money that could go towards so much more...

If I stick to my repayment plans I will be debt free by August, I need this forum to keep me on that road, then I can start to live my life again, and start saving for a change!