Finally - deep breath - Zulu Dawn SOA

Zulu_Dawn

Hi Everyone

Life continues to be interesting. I have now managed to renegotiate my first credit card debt. They accepted a reduced monthly payment from £57 to £39. They have decided to charge interest but it is only at 3% so in a way it is a bit irrelevant. I also asked if they would take a F&FS and they said yes definitely.

Incidentally I also got a "standard letter" from Marks and Spencer who told me that they would be willing to write off up to 50% of my debt if I could clear it. I just haven't got the cash currently but this is hugely encouraging with regards to the future.

My strategy is now to approach some of the others and see if I can get the monthly payments down. Particularly I am going to have to sort out MBNA who I am currently paying nearly £400 per month on around £20k of debt. This is the main one that is messing me up.

We have also tried putting the house on the market. The price is almost certainly too high but we don't really want to move so it seemed pointless to put it on at a really low price. Anyway very little interest so this strategy is out for the time being. Shame as I had a vision of being completely debt free (albeit homeless) and the feeling was absolutely wonderful.

I'm afraid the marriage continues to be a desperate struggle. Life at home is just awful with my wife totally unable to cope with the past and our current situation and me unable to give her what she needs. I don't know how the story ends but I just hope we can find a way forward.

Financially we are just about living within our means but it is pretty tight. My main new money saving idea is a diet. I'm a big lad and have decided that it is finally time to lose a bit of weight. My shopping budget as a result has fallen by about a quarter and i managed to lose 10lb in my first week which is sensationally pleasing.

I don't find myself posting as much as I have done in the past. Not sure why as I still visit every day. Is the board becoming a bit parochial? I'm not sure.

Anyway better go. All the very best to all you MSE ers out there.

ZD

chevalier

Hi there ZD
Missed your thread the first time round. I was wondering how the debt free journey had progressed?

chev

Verbatim

Me too ZD.

How are you?

Zulu_Dawn

Hi there

I am pleased to say that my life has continue to improve over the last six months and things are overall very good..

My debtors are all relatively quiet. I am on a self-administered DMP and continue to communicate regularly with all my creditors. I have managed to finally get myself to a position where I can afford the payments under my DMP. Even more amazingly, I managed to get a loan from my personal bank to clear my overdrafts etc. I never included my bank in my DMP and have met all minimum requirements with them over the last eighteen months. That has actually stood me in good stead even though life was very hard in the first year. I have a debit card and just a few quid in an emergency fund for the first time. We're even planning a few days away over Easter.

I managed to get a decent pay rise which has helped and my wife is also earning quite a lot more.

My home life has finally started to settle down as my wife comes to terms with the damage I caused and has started to believe my promised for the future. I haven't had a bet in 15 months and continue to attend GA meetings locally. We're actually getting on!!!

I'm still in the same house and the slight drop in mortgage rates has also helped us.

I'm not pretending that life is easy. I still have unsecured debt that is well into six figures and won't be buying a new car or booking a two week family holiday for a few years. But we are surviving, the debt falls every month and we are happy and I guess that is as good as I could have expected.

....oh and my spending is now of true DFW proportions. No more expensive barbecues for me any more!!


ZD

tara66_2

Hi ZD
Great to hear you have made so much progress, particularly with your OH. I attend debtors Anonymous another twelve step programme an I have found it tremendously helpful to me, alongside this site which is fab.

I wish you continued success.
Tara x

Zulu_Dawn

Hi tara66.

I'm familiar with DA (come across it in a room I use in Central London) though believe my debt was simply a result of my gambling. I'm actually quite good with money other than when placing it on random bets on random sporting events!
Yes I've found the 12 step programme very helpful. Glad you are getting benefit from it too.

Take care,

ZD

hypno06

ZD, I am glad that things are heading in the right direction.

Very glad too to read that the expensive barbecues are no more........one of the more unusual "discussions" that has been had as a result of an SOA I recall!!

Keep up the good work, and don't be a stranger!

SarahNeedle1872

Hi ZD, nice to see you around again....

Glad everything debt-wise is working out for you, and well done to your and your OH for sticking together and working through this.... and a big :T :T CONGRATULATIONS:T :T for dealing with the hardest things, giving up the gambling! As Hypno said, don't be a stranger!

TC

Sarah x

chevalier

Hi zd
glad to hear that your debt journey got better. And especially about the OH sticking by you.

hope to hear about your continued journey if you update us again, in say 6 months?:D

chev

Verbatim

Really glad to hear that you and your wife are together and that you're getting on. Quite the best news.

Once the debts are falling regularly it's much easier to feel positive too.