Almost there - for all those long haulers!!

greenfingers10

Hi All

This is my first ever post, (have been a regular lurker for the last 6 months) so here goes. I had my LBM back in May 2007. I had 22.5K of debt on credit cards, personal loan, store cards, overdraft etc and I had reached the point where I could not cope any more. In 2006 my husband had been off work for some 10 months with a serious injury and his salary dropped to just statutory sick pay, his firm did not have any benefits like sickness or holiday pay. I knew we could not manage with just my salary so just went a bit crazy with all the credit that was available. I did not want my then 14 year old daughter to know just how bad things were. Anyway at my LBM I just knew something had to change. Hardest thing was to tell my husband about the mess we were in. He had no idea. Kept putting it off, but after contacting PayPlan I took the plunge, glass of wine in hand and told him everything. He was shocked at first but then very supportive. We started our DMP in May 2007 with Payplan. Have stuck to it for last 3 years, and it's been hard. Have used an Excel spreadsheet to keep track of all expenditure and budget for utilities, MOT etc. In June 2011 I'll be making the last payment and then we are DEBT FREE! Didn't know about this site till 6 months ago, and it's great, realised I'd been doing a lot of stuff anyway - menu planning, sealed pot etc. So to those of you still on your DMP's, take heart, there is a light at the end of the tunnel. I feel like a different person today, and know that I have learnt from my mistakes and will never get into debt again. Best of all was being able to sit down recently with my daughter and tell her all of this (she's now doing great at Uni) and guess what - she was okay about it all. Keep going - you will get there!!

bottleofred

Hi greenfingers and welcome to the forum,

Your post is an inspiration to msers who are currently in debt and see only a tiny light at the end of the tunnel. Well done on almost becoming debt free and I hope to join you by the end of the year at the latest.

Good luck

Red

greenfingers10

Hello Red

Thanks for your reply. I don't feel like much of an inspiration, I've just kept plugging away, month after month, got used to seeing the payment going out to Payplan and stuck with it. Can't quite believe now that at end of June I will no longer have approx a quarter of our income leaving the account! Have learnt so much from this site, it's been wonderful reading all the posts and realising I was not alone. Being debt free will be really strange at first I think, but I will put some of that payment away to savings instead. Keep going because you will get there, I am counting the days till my final payment in June - I have to keep pinching myself as a reminder that it really is going to happen. I have got so used to this way of life, watching every penny, having a wish list of things I would like to buy but know I can't afford - I can't believe just how stupid I was with the credit cards etc and have nothing to show for them, but I have learned to stop beating myself up about it quite a while ago now. I have even told work colleagues about my situation, something I could never have done back in 2007. And yes, guess what they have debts as well and have been really positive about what I've done. But yes, it has been really hard, so best of luck and keep in touch and let me know how you are doing.