One incident / agreement / situation that set the debt spiralling?

cazziebo

I'd stretched to the max for a while. Single working parent, didn't want daughters to want for anything. I was lucky in that I got a good job, and several lucky breaks so salary increased steadily - unfortunately so did my debts. I only just got through month to month, using credit cards and overdraft.

the actual turning point was when I was hit by £400 in bank charges in one month, which made things even worse the second month, and so on. Things really got out of control and it was terrifying. Missed a mortgage payment, defaulted on a loan, couldn't pay the gas or electricity, scared to open the mail, answer the phone. It was a terrible few months.

My saviour was a wonderful woman who directed me here for a completely different reason, and I found the CAG board. Claimed back my bank charges, became OS and now I only have one personal loan and a mortgage. Even better, some money left at the end of the month. (And no more bursting into tears when I come home to find the kids have eaten all the bread, and the only thing left for dinner had been poached eggs on toast!) I even have a wee bit of savings (I know you shouldn't when you have debts to pay, but it's only a few hundred and it gives me great psychological comfort.

:money: He's great - as you all are :T :T :T :T