Starting afresh and finding the light

Squidge123

I've done a budget that means I should be able to pay £400 plus off my debt this month which means that first number will be an 8 by Christmas!!! :-)

snozberry

Fabulous! Stick to your guns and the millstone of debt will soon be gone

Squidge123

Right here's to another disaster but I've hit rock bottom and now I'm on my way back up.

I'm back living with my parents, they know about my debt and are letting me live with them rent free until I've got it all sorted.

I've had a proper calculation and my debt is actually £9580.61 which is approximately £300 less than I thought it was.

My family are talking about going into an IVA but I'd rather set a budget each month and pay them off myself so that it's done quicker than the 5 years it takes in an IVA.


So here's to (another!!) fresh start and finally getting myself sorted out!

Heffi1

Hi Squidge123,

I have been reading and it seems you have one thing or another to deal with over the last few months. It is a struggle, have you thought about talking with CCCS again to see if a DMP might be better for you, at least this way you will know exactly what money you have for your budget and importantly the debt gets paid, but each debtor gets a fari amount based on your ability to pay.

I had some worries before entering into mine, and to be honest it is the best thing I have ever done. I took control for the first time (I also had a very controlling ex who handled all the money and called me a money grabbing ???? if I asked for any help) It is so nice to know that I will eventually pay it all back and not have to ask him for a penny.

Chin up it does get easier.

Squidge123

So out of this pay and with a cheque that I'm getting for selling some shares I will have a good amount wiped off of my debt. At the moment the total being repaid back is going to be £390 but if all goes to plan more of that will be paid off. So I will definately be down to £8000 and something by Xmas!! So far we're now able to start seing the light at the end of the tunnel!!!

Heffi1

Squidge123 that is positive, it will be nice to break through the 8000 barrier, I wish you lots of luck along the way.

Squidge123

I've paid £178 today and that's closed one payday loan account completely. I'll be cashing a cheque and using that to pay more of my debts off too as well as some of my wages :-)

BlueCrayon

I'm sorry you've been having more of a bad time. Moving back home isn't fun when you're used to living on your own but it sounds like you are hammering the debt down now.

I wish I'd moved home when I was younger and just paid it off, I can't wait till my debt is finally gone!

Good luck.
BC x

snozberry

I'm sorry that you have hit rock bottom but you are right - the only way that you can go is up. You will get there - I have every faith in you

Squidge123

Just a quick update. I'm going to make token payments to my debts and hammer away one debt at a time. I've just set up a finance folder. It's going dividers for each month so that I can work on a budget. Theres also a section for current debts which is currently quite large and a section for paid debts which only has one cleared debt in it for now.

I figured if I work on it one debt at a time while making token payments to the others I'll be able to concentrate better and get my total down quite nicely while putting some money away each month as an emergency fund :-)