Debt free for the first time!!

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chuckyegg
chuckyegg Posts: 54 Forumite
in Debt-free wannabe
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).
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Comments

  • whatatwit
    whatatwit Posts: 5,424 Forumite
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    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.
  • newmum1
    newmum1 Posts: 1,341 Forumite
    First Post Combo Breaker First Anniversary
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    Yeah id love to know too!!!!
  • chunky79
    chunky79 Posts: 732 Forumite
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    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.:T
    You 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?
  • catewithers
    catewithers Posts: 502 Forumite
    First Anniversary Combo Breaker
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    Congratulations Chuckyegg, that's great news.
  • barnesy_2
    barnesy_2 Posts: 141 Forumite
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    Great news chuckyegg!


    Jan 08 Grocery Challenge £69.95/£160


         Motto of the week:What goes around, comes around

  • CHR15
    CHR15 Posts: 5,193 Forumite
    First Post First Anniversary Combo Breaker
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    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??
  • buzzbay
    buzzbay Posts: 1 Newbie
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    thats great, well done!

    How did you do it??
  • Crown
    Crown Posts: 1,377 Forumite
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    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

    d
    Official DFW Nerd Club - Member no. 297 - Proud To Be Dealing With My Debts :D
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
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    I want to know too!
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • MUSTBEFUNNY_2
    MUSTBEFUNNY_2 Posts: 166 Forumite
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    :whistle: :whistle: :whistle: :whistle: :whistle: :whistle: :whistle: :whistle


    Do you think we'll ever find out?
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