Debt Free Member - There is light at the end of the tunnel!!

less2303

I would like to share with you my story, and hopefully if it gives one person the inspiration they need, it has been worth it!

I, like alot of people, found myself in the never ending spiral of debt, with the situation becoming worse and worse each month.

This in turn put a tremendous strain on my marriage, which eventually resulted in myself and my wife splitting up in Novenber 2005. My daughter went to live with my wife, and my son, who has special needs due to behavioural problems stayed with me, aminly because I am able to control him physically which is sometimes required.

I made a decision at the time of the split to do something positive about my situation, and also to provide the care my son needed. The process then began.

I found myself unable to work, as my son needed caring for, and at the time wasnt in school due to his problems, so I became his full time carer. After alot of thought, I then decided that i needed to do something drastic about my finances.

Following alot of soul searching, and alot of advice from the Debt Questions Forum, I decided that Bankruptcy was the best option for me. This was due to a number of circumstances, but wasnt a decision that was taken lightly.

In March of 2006 I went Bankrupt, which put me in the position of not having to worry about letters in the post and callers at the door. It also meant that what money I did have was mine, and although it isnt alot, I can get by on it. The fact that I would not be able to get credit wasnt a problem, as I didnt want it! My credit file is now shot to bits, but agian, a small price to pay in my opinion.

With Christmas fast approaching, I managed to save a small amount up, and although it was far from a lavish christmas, it was all paid for, without any further debt.

I found myself on January 2nd with a positive balance in my account, and I had even earnt 8p in interest! Something I thought I would never see.

Previously, before debt, I would find myself overspending to make christmas enjoyable, and during debt did this even more so, as we had no money, we were determined to enjoy christmas, as the rest of the time was so depressing.

Now I have experienced both, I can honestly say that the debt free way is by far the best option, as I am already on an even keel for the year, with the opportunity to be able to save up for things I want and buy them outright!

Obviously, my situation doesnt fit everyones circumstances, but whether you are considering Bankruptcy, entering an IVA, making reduced payments or simply just struggling with your finances, I would urge you to really give the debt free life a go. You will feel 100% better in yourself, which to me is priceless, compared to all those must have things I used to end up overspending for.

I am now really looking forward to 2007!