We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
Debt free for the first time!!
chuckyegg
Posts: 54 Forumite
Wow!!!!!
My life has changed dramatically overnight.
I have gone from having £42k of debts to having nothing overnight (aside from a £70k mortgage). To say this is a life changing experience is an understatement. Before the debt was paid, hubby and I were about to refinance or sell our house to get out of the hole we were in.
We are now setting our priorities according to what is good for the family rather than what is necessary to survive. Hubby is giving up work from Friday to look after the kids until the youngest goes to school in January. This will also allow him time to decide on a career path aside from the dead end factory job he was in, probably in the social welfare sector.
To all of you who fight to clear your debts, I have the greatest of respect. I found that the higher the debt got, the harder it got to think about, to a point where I think the Bank would have removed our overdrafts and the credit cards would have exceeded their limits (this happened just as our cash was due to come in due to lack of funds to pay the bills).
My life has changed dramatically overnight.
I have gone from having £42k of debts to having nothing overnight (aside from a £70k mortgage). To say this is a life changing experience is an understatement. Before the debt was paid, hubby and I were about to refinance or sell our house to get out of the hole we were in.
We are now setting our priorities according to what is good for the family rather than what is necessary to survive. Hubby is giving up work from Friday to look after the kids until the youngest goes to school in January. This will also allow him time to decide on a career path aside from the dead end factory job he was in, probably in the social welfare sector.
To all of you who fight to clear your debts, I have the greatest of respect. I found that the higher the debt got, the harder it got to think about, to a point where I think the Bank would have removed our overdrafts and the credit cards would have exceeded their limits (this happened just as our cash was due to come in due to lack of funds to pay the bills).
0
Comments
-
Dare we ask how, have you had a lottery win?
Or, did the windfall come about due to unhappy circumstances?Official DFW Nerd Club - Member no: 203.0 -
Yeah id love to know too!!!!0
-
Sounds great, whats the secret:p
Only kidding, good to have the weight off your shoulders isn't it? Congratulations and heres to a debt free life.:TYou can touch the dust but please don't write in it !
Would you like to speak to the man in charge, or the woman who knows whats happening?0 -
Congratulations Chuckyegg, that's great news.0
-
Great news chuckyegg!
Jan 08 Grocery Challenge £69.95/£160
Motto of the week:What goes around, comes around
0 -
Congratulations to you both.
But if they changed overnight, was it that you came into a pot of money or did you slog for years paying it all and have finally beaten your debt??0 -
thats great, well done!
How did you do it??0 -
Hi Congrats,
Maybe the 70k Mortgage has something to do with it? Did you re-mortgage?
If so please do yourself a favourr and cancel the credit cards as have them sitting there in a temptation that will lead you back. I know this from experience.
If iut wasnt via your mortgage please share your secret? Armed Robbery, Divine Intervention?
Good luck in the future
dOfficial DFW Nerd Club - Member no. 297 - Proud To Be Dealing With My Debts
0 -
I want to know too!Total 'Failed Business' Debt £29,043
Que sera, sera.
0 -
:whistle: :whistle: :whistle: :whistle: :whistle: :whistle: :whistle: :whistle
Do you think we'll ever find out?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.3K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.9K Work, Benefits & Business
- 617.2K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards