made a major sacrifice to sort things out.

debt3by30

hello.
i have been burying my head in sand forma while now re debt. hoping that things just sort themselves out.... as they always used to do but there comes a day when they just don't anymore.
i have got to a point now that i cannot meet my payments on my debt and last month for the first month ever i missed a couple of payments.
my options were either do a dmp or give up my much loved hobby. i really wanted to avoid a dmp as a big portion of my debt is repaid in 20 months time which will improve my situation no end. also, i work in regulated industry so need to have a good credit history.
so...... i am giving up my hobby. this will mean i can meet any my min repayments plus a pound or so extra pet month.
it will mean i am not using one card to pay another. it will mean i am not using a pay day loan to cover my payments.
i actually quite excited that next month will be the first month i can pay everything without borrowing more.
i won't have much left at all every month. but i will just have to get used to that.
god i hope i am doing the right thing!!!
xx

jessie4109

I think it would help everyone on here if you could post your statement of affairs (income / expenditure) like this one http://www.stoozing.com/calculator/soa.php then suggestions can be made to help you.

tallyhoh

gosh, does you hobby cost a lot of money, sounds like it.

debt3by30

ye i will do in time. just in process if getting final figures on everything. but basically my hobby was costing me about 200 per month. and that had to go. ..

Bublin1

What is your hobby? Maybe it could be done on a budget.

debt3by30

i have been working on a project car for years. i typically spend between 200-300 per month on it. its not worth anything as started it from scratch and unfinished.
what i have actually done is put it in storage for 12 months so it is something i can pick up again once i have got a grip on my finances.
so technically i can still do basic bits with it but have given up trying to complete it.
really gutted as was aiming to get it finished for dome shows next year but i just cat afford it.

Find_The_Real

I would see it not as giving up your hobby but putting it aside for a while in order to get back to where you can enjoy it without worrying about the cost. After all the car will still be there in a years time. Good luck with sorting out your debts.