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Nothing Is Impossible
bigmac2020_2
Posts: 28 Forumite
Hi all you DFW's,
just wanted to let you all know that we are officially debt free. After 4 1/2 years and £69k we have made our last payment to our creditors. Just wanted to let folks know that it can be done. Don't get me wrong it has not been easy and sometimes we wanted to give up and say stuff it all, but now we are glad we stuck to it.
I've been very lucky as my wife has been very supportive and the debt has been our's, not mine or hers, we have also stuck to the lead from CCCS and not fallen foul of the credit trap (it is very tempting). My only advice to anyone just starting is to keep the faith and be honest with yourself and those around you. If you hide from it or try to hide it you will never make it, it does not go away, just merely waits until your really at your lowest.
The decisions we made were just in time, I was using the money I got back from my company expenses to make the minimum payments on my CC's, the month after I decided to use the CCCS my company changed to using fuel cards and I lost nearly £300 a month in Fuel expenses claims, so I would have been totally in trouble. Listen to yourself, debt makes you really unhappy and affects everything in your life, both working and personal. If you take control you feel so much better and it empowers you to deal with the creditors, in my experience the worst 2 were the MBNA and Citi, even at the end they were trying to hang on and not let us go.
The best time I have had is paying them off and letting them squirm, MBNA asked how I had come by the money and I told them to mind their own business, as they insisted I responded that I had robbed a bank, they did not believe me so I gave in and told them it was from a dead relative (just to make them feel guilty), as it wasn't at all, but it's not their business. Then I had a laugh at Citi's expense as they would not accept a final offer so I just paid them what they said I owed. I then got a letter saying that they were sorry I had closed the account, 4 days later got another one saying I owed them £16. So I called and asked them how they could close an account that did not have a zero balance? After much huffing and puffing they agreed to credit the amount and zero the account, which I could then close again.
I suppose what I am trying to say is that when you feel in control it makes the situation more bearable and being in debt makes you fell totally helpless and powerless, so here's to all of you whether you are just starting or are nearly there, stick with it, don't give up and remember that it's your debt and you are trying to deal with it, always be proud of that fact and don't give in, you will make it in the end.:beer:
Good Luck to you all, keep the faith and remember the immortal words of Arnold Schwarzenegger, 'hasta la vist baby', 'cos you won't be back to those damn creditors!!!!!!!!!!!!! :money:
just wanted to let you all know that we are officially debt free. After 4 1/2 years and £69k we have made our last payment to our creditors. Just wanted to let folks know that it can be done. Don't get me wrong it has not been easy and sometimes we wanted to give up and say stuff it all, but now we are glad we stuck to it.
I've been very lucky as my wife has been very supportive and the debt has been our's, not mine or hers, we have also stuck to the lead from CCCS and not fallen foul of the credit trap (it is very tempting). My only advice to anyone just starting is to keep the faith and be honest with yourself and those around you. If you hide from it or try to hide it you will never make it, it does not go away, just merely waits until your really at your lowest.
The decisions we made were just in time, I was using the money I got back from my company expenses to make the minimum payments on my CC's, the month after I decided to use the CCCS my company changed to using fuel cards and I lost nearly £300 a month in Fuel expenses claims, so I would have been totally in trouble. Listen to yourself, debt makes you really unhappy and affects everything in your life, both working and personal. If you take control you feel so much better and it empowers you to deal with the creditors, in my experience the worst 2 were the MBNA and Citi, even at the end they were trying to hang on and not let us go.
The best time I have had is paying them off and letting them squirm, MBNA asked how I had come by the money and I told them to mind their own business, as they insisted I responded that I had robbed a bank, they did not believe me so I gave in and told them it was from a dead relative (just to make them feel guilty), as it wasn't at all, but it's not their business. Then I had a laugh at Citi's expense as they would not accept a final offer so I just paid them what they said I owed. I then got a letter saying that they were sorry I had closed the account, 4 days later got another one saying I owed them £16. So I called and asked them how they could close an account that did not have a zero balance? After much huffing and puffing they agreed to credit the amount and zero the account, which I could then close again.
I suppose what I am trying to say is that when you feel in control it makes the situation more bearable and being in debt makes you fell totally helpless and powerless, so here's to all of you whether you are just starting or are nearly there, stick with it, don't give up and remember that it's your debt and you are trying to deal with it, always be proud of that fact and don't give in, you will make it in the end.:beer:
Good Luck to you all, keep the faith and remember the immortal words of Arnold Schwarzenegger, 'hasta la vist baby', 'cos you won't be back to those damn creditors!!!!!!!!!!!!! :money:
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Comments
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Well done, it is really nice seeing more and more folk on here becoming debt free. Just think when we are all debt free we will have to litter all the other boards on here as we will have nothing else to do as there will be no one left on here
I hope you will have nice and prosperous life ahead of you now without having to pay anyone any money and when you see that car you always wanted at least now you can say you have earnt it :beer:0 -
Well done bigmac, you have done brilliantly to clear the debt in quite a short space of time!"I wasn't wrong, I just wasn't right enough.":smileyhea97800072589250
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Great story. Tell us how you managed it!
Also, someone enlighten me. I think I know the answer to this but what exactly is the 'credit trap'?
Best wishes0 -
well done you, I love hearing peoples success stories, gives us all hope!Bewitched2761
debts at 23.1.07 [STRIKE]10,689[/STRIKE]:eek: 1.02.07[STRIKE] 9816 [/STRIKE] 2.04.07 [STRIKE]8630.[/STRIKE] 7.06.07 72000 -
nice one! well done to you:j :j
DFW nerd no = 281 (graduate)0 -
Really inspiring!! Well done! xx0
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Excellent! Well done you!! Thanks to MSE, I am mortgage free!0
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GOD! Amazing!!
Well done, would love to hear more how you did it...
BunnyEmpty pockets never held anyone back, only empty heads and empty hearts can do that -Peale0 -
Well done..... very inspiring - thanks for sharing"Nobody made a greater mistake than he who did nothing because he could only do a little." Edmund Burke
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Bigmac - Congratulations!!! :T
One question - did you make final settlements to your creditors? How were they about it and what percentage did they accept?
Welldone - cant wait to be in your shoes!;)0
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