One last debt...

Gemini33

Hi everybody,

Before I begin, I would like to share with you my story of where I once was and where I am now in the present.

I wish that this story will inspire you just a bit, there is always hope.

At 26th years old, I consider myself quite knowledgeable in the field of debt, addictions and general lower conscious feelings. Having been battling with my addictions and debts for the last 5 or 6 years I honestly believe I can share an experience with you that will hopefully guide you on the right path.

I am by far a know it all and realise there is so much more for me to learn, this is not legal advice, just the approach I took in order to clear the majority of my debts. It was not easy, some days of hunger and miles of walking helped me accomplish this but I assure you, whatever you put your mind to, the mind can achieve.

So I have always been a bit of a flighty character, possibly due to the Gemini in me, I have always struggled to hold down a job, have a somewhat addictive nature and suffer with OCD.

When I was 20 years old, despite my lack of qualifications, I managed to brag my way in to Barclays for a trainee mortgage advisor, I was ecstatic for the first 3 weeks then quit.

Stupid I know but this attitude was the start of a spiral of debt and problems.

I quickly managed to get another job and after 3 months of working for this retail suit shop (no names) I was offered a placement as a managers assistant, stupidly I went ahead and decided to get a whopping £8,000 loan out thinking a car would be more convenient and hey what the "heck" I am going to be on £18,000 a year so why not?

1 month later, after listening to this egotistical madman calling one of the employees a useless c**t I lost it, spoke my heart and then lost my job.

This was the beginnings of a very depressive few years.

I kept pursuing work and after 3 months I was forced to sign on, the debt people were really on to my case.

So, I went ahead and got a £1000 limit on a credit card, to help me with the late payments, stupid move I know.

But instead of spending the money on the loan payments, I gambled it all instead, desperate for more money, I made a stupid decision and was blind to the problems that were to come.

Unfortunately, that night at Live casino, I managed to win £3000, yes I said unfortunately. I got greedy and lost everything the next day.

I was getting very depressed at this point, feeling lost and was getting in to more debt.

Again I managed to get another Job at a marketing company, I was getting paid good money for what I was doing but it seemed as if this one night of fun at the casino had taken over my life, 4 months at this job and I was fired. Every penny earned would be lost that same night.

Every single penny of income I would gamble, sometimes hitting huge wins in the thousands, I remember once working my way up to £4500 with £1! Just to loose it all the next day, this became a habit a very bad one.

Back to the Jobcentre where I stayed for 1 year, I was having letters, phone calls and even texts on my phone sometimes at 1 O Clock in the morning. My stress levels were out of the roof. The more I was in this circle, the harder it became to even get a job.

1 year had gone by, when I finally managed to get another interview for a driving job. I walked 3 hours to get to the interview and managed to impress the interviewer with my can do attitude.

3 months later just before christmas, an early court case had struck up on me, 1 night a year before this date, I had taken a car out I was not insured to drive, I did not drive fast or have an accident and I am aware of the consequences that could have occurred, I have truly learnt my lesson and am now glad they took my license away from me. Please refrain from any complaining about how I am the scum of the earth, I don't need a lesson in life, I have made it clear I was aware of my mistakes.

However, I was back in unemployment, with a court debt that went from £250 to £800 and was being told by the courts they will send bailiffs around to pick lock my residence, YES they actually had the audacity to write this in a letter, I still have it as proof

I was still gambling, taking out more loans and in some cases lying to creditors in order to obtain credit.

My gambling was real bad, here is a pic of the receipts I managed to save up, bare in mind, in this time about £30,000 passed through my hands online, where I would win money then loose it, I am going to see if my account is still live to screenshot it, anyhoo, here is that beauty: the memories hurt...

http:removethistext//i47.tinypic.com/ra5l47.jpg

I was approx over £18,000 in debt, here is a breakdown of my debts:

AA Loan - £10,584
Natwest Credit Card - £1647,88
Halifax Credit Card - £1233,99
3 Payday Loans - £1215,78
AA Credit Card -£967,00
Courts - £850
RBS Credit Card -£589,33
Mobile Phone - £265
Barclays Bank - £ 156,00
Paypal -£150
Fine for riding through red light on my bike - £90

There are certainly more but these are the main ones I can recall from memory, I had friends and family debts too of over £1000

I know this story is a bit long but I need you to know, I am aware this is not the greatest of debts but at 22 years old suffering with these problems, I became very depressed and I learnt the greatest lesson life can teach.

You are what you think about.

The principles apply whether you are in £100,000 or 1 million in debt. If you want this like your body needs air, you can do this.

I am about to show you what debts I have paid but before I do I would like to share with you my advice:

1. I personally had a very bad experience with CCCS or credit help companies, I found for months on end they would fail to write letters and were after much research I discovered this particular company is mainly funded by the banks, makes you wonder.

So I would stay away. This is nothing you cant do, if you are willing to put the time and effort into the research, you too can stop interest rates and freeze fines.

2. Have a vision, how many of you really know how much debt you are in? I was in an absolute mess, but I cant tell you how good it felt the day I sat down and organise each and every penny of debt I had. I wrote it down in an excel sheet and spent weeks organising how I would repay this and what kind of income I needed.

3. Be honest and stay in contact, I know some of the collection companies out there are a pain in the back side but you have to realise, these people are collecting money you have created or borrowed. Write to all the companies and offer them the bare minimum, if you ignore them totally, you are dishonouring your side of the contract. Send them your expenses sheet and how much debt you have, offer them even £1 for the moment, they have to accept it, by doing this, you are preventing further court progress and buying yourself time.

4. Work you way up, one of the greatest things I had down in order to get out of this debt, was pay the small debts first, usually offering a reduced settlement figure.
So I listed from top to bottom, the smallest debt I intended to pay. Common logic told me it would be a stupid idea for me to pay 8-10 small payments each month, instead I would concentrate on the smallest debt first, whilst still paying the bare minimum of the other debts until It came around. This way, instead of being in 10 debts for the next 5 years, in 1 year I would only have one debt.

5. Sacrifice, in order to accomplish this, I had to live my life like most people would refuse. I did not go out at all for a year, my idea of a night out was a lonely walk for hours on end, some days I would not eat, instead of getting public transport, I walked for miles to work everyday when I did finally find a new job in a supermarket.

6. Ignorance is bliss, if you have contacted your creditors and they are still ringing you up and bothering you, ignore them. In some cases, they never gave up, still sending me letters in order to deceive their value, so I ignored them and sent a letter every 28 days through writing highlighting that letters are the only way to communicate.

7. Record everything, keep a record of everything, phone calls, letters, I mean everything, one of the collectors tried a crafty trick claiming they had not had payment.

8. Stay focussed, whilst I was in this mess, I made the huge mistake on focussing my thoughts and energy on the debt I had, not how to improve my income. This is a big mistake!!! Organise your debt, have a clear vision of what you need to pay it back but dont let it over rule your life, if you focus on getting an income of £3000 a month however you wish to do it, then all of this is irrelevant.

I am nearly there, I went from nothing, to a contracted and definite £800 a month, from here I started my own business repairing iPhones and other electronics (everything I learned from youtube, as a hobbyist) and now make a nice £800 -£1200 on top of my earnings each month. Obviously I have more expenses but if you focus on earning more money, you can focus on being debt free quicker.

OK, here is where I am now:

AA Loan - £10,584 ---- Ongoing payment of £115 in place.
[STRIKE]Natwest Credit Card - £1647,88[/STRIKE] PAID £1200
[STRIKE]Halifax Credit Card - £1233,99[/STRIKE] PAID £780
[STRIKE]3 Payday Loans - £1215,78 [/STRIKE] PAID £700
[STRIKE]AA Credit Card -£967,00[/STRIKE] PAID £550
[STRIKE]Courts - £850[/STRIKE] PAID £200
[STRIKE]RBS Credit Card -£589,33[/STRIKE] PAID £350
[STRIKE]Mobile Phone - £265[/STRIKE] PAID £90
[STRIKE]Barclays Bank - £ 156,00[/STRIKE]
[STRIKE]Paypal -£150[/STRIKE]
[STRIKE]Court for riding through red light on my bike - £90[/STRIKE]

What an amazing feeling!!!

I can tell you know, this was all paid on a monthly pay of £800 and usually less, I worked in a job I detested, I sacrificed my social and luxuries of life.

But I am finally here, I know you can do it, I am now a proud Business Owner and have since started my own business. I do feel proud.

I understand this is a bit all over the place, It was hard for me to share and open up about my life as well as remember everything as this time was a sad blur for me.

I also realise that there are other options like Debt management which might appeal to some people more. I just refused to accept bankruptcy as at the time I could 1. Not afford it and 2.carried a 5 year credit note.

Keep on striving forward everyone, just say I am, I can, I will!

Blessings and light

Gemini

sistafromanothermista

Wow what an inspirational thread :beer:
It has definately made me feel a lot more positive about the state my life is in at the moment!!!

Gemini33

Hi Sistafromanothermista haha,

Thanks so much for your response, just what I wanted really.

Stay positive and remember, the skys not the limit, its just the view!

Thanks again

OneLife_OneShot

What a great post, I have feel the pinch of high swings and low loses due to gambling, I am in debt but not as much as that but even still it shows if you just try you can do it

Best of luck and well done on the debt you have paid off already!

Gemini33

Thanks very much! I truly appreciate it.

My gambling was what I consider an illness, it at times made me feel suicidal and want to give up but I never did.

I remember one christmas hitting £15,000 online with just £650, yes I took huge gambles. Like I said, it was an illness, I was not happy until I had self destructed and was broke.

I have not gambled for over a year, I stopped drinking and smoking weed 4 years ago too, I honestly cry sometimes when I look at how far I have come.

It has become my dream to help others get to where they want to be.

I know how hard it seems but the cure is simple, change the way you see the world and the world you see will change.

I convinced myself I could beat roulette, I convinced myself I could make money, I convinced myself I needed the latest trainers or clothes, all of which gave birth in the ego.

All the best and thanks again