2 years on ........

cado1

January 2 years ago I was in deep trouble I had used my CC's to the max for xmas and come January payday I couldn't afford all the repayments on the CC's or loans.

I had reconsolidated more times than I had hot dinners and basically couldn't do it anymore !!

So I had to fess up to my then fiance as he was getting suspicious about all the hounding phonecalls from the bank & CC companies.

He is an accountant and also really good with his money. He was shocked at first as the only debt he has are mortgages. He came round though and realised that there where lot's of people in my situation and once I had told someone I felt so much relief it's untrue !!!

So slowly but surely for the last 2 years I have been chipping away at my debt there have been a few slip ups but I have managed to get back on track.

I finish paying off my HSBC loan in April which will mean I will have an extra £267 a month to go towards the other outstanding debt. By the end of the year I will be £500 a month better of each month :-)

And the best feeling today is that I know I won't have any credit card bills or overdrafts to worry about at the end of this month as I know I have stayed within my means and have not taken on any new debt.

Just to say to anyone else who is maybe in the position I was 2 years ago .....You can do it just keep trying !!

Happy New Year

Moneymash

It's two years for me as well... For the last two years I didn't prepare, budget or save for Christmas and as a result suffered the results. I was unable to make my January or February loan repayments and ended up paying off Christmas well into May.

However, this year I actually saved for Christmas, saving money from the overtime I did throughout the year. I have four debts left to pay off and am so happy that I will be able to make all my monthly payments. It's an excellent start to the year. I have also started a regular savings account, not just for Christmas, or annual one-offs but for emergency and anything else that takes me by surprise.

Delree

Great stuff, you'll find the financial discipline you have to exhibit will stand you in good stead for the future. Keep up the good work.