For all you scared folks out there, in debt - my story.

Jak65

Ok. Long story, bear with! At the age of 22 (many moons ago - 1987) bought my first house with my then fianc!. No credit checks in those days, all you needed was three months worth of bank statements and wageslips to get a mortgage! A year later, got married, had our first child, and were very happy. Lived hand to mouth, if we needed anything, appliances, carpets, etc. would do it on hire purchase, one item at a time, pay off one item over 12 months, then have another, worked great, never worried about having to wait for stuff. Six years later, we were able to move into a lovely suburban semi, still happy, still living hand to mouth, had another baby and still no credit. In 1994, went into the NatWest one day, and the woman behind the counter (obviously on commission, and I still blame her for everything!!) asked if I wanted a credit card. No, said I, I'm fine, I have a 'Switch' card (remember those?) Oh no, she said, that's a debit card - totally different thing. Ok, I said, having no idea what she was on about. I was 28 years old and had no idea what a credit card was - seriously. I'd seen the adverts - Access - your flexible friend! But hadn't a clue really. Anyway, a few days later, said card landed on my doorstep - £800 credit limit. Wow! I thought, can afford a dining room carpet for my new house - £400 and repayments £11.00 Per month - seriously! Was so naïve and thick, didn't think about the interest!!! Next, bought hubby new watch, £130, quite a sum in those days - monthly repayments still nominal, still not thinking about the interest. Fast forward the next few years - Barclaycard, Marks & Spencer, Lloyds TSB, Bank of Scotland, American Express, all chucking those lovely credit and store cards at me, then several loans here and there to 'consolidate' my borrowing - yeah whatever - like an Aladdin's cave! Up those balances crept, slowly but surely, increasing my credit limits every so often because I was a 'good customer'. Fell for it all, hook, line and sinker, and took it all out in my own name - what a prat. So, when 'lovely' husband no. 1 (lol) decided to trade me in for a newer model, not only did he leave me and our two young children, but also left me in a shed load of debt. Nothing I could do about it - all in my name because I 'dealt' with the finances (lol). Not long after, met up with a childhood friend, got together, married and had a baby. This was 15 years ago. To this day he has no idea of the financial mess I was (and still am) in - couldn't tell him, not his problem. Was still struggling to pay off my debt until, one day, I realised enough was enough. Four years ago I finally plucked up the courage to contact StepChange Debt Charity, the hardest, but best thing I've ever done. It has been tough at times (I've still got two more years to do - I was £56K in debt) but not because the majority of my salary is swallowed up in paying it back, it's the shame, embarrassment and self-hatred I find hardest to deal with - the fact that I feel a failure and that, at 51 years of age, I have nothing to show for my life (apart from my lovely family) lost everything, and the fact that I have carried this burden alone, trying to protect my family from this awful secret for so long. But, I am beginning to see the light at the end of the tunnel now - I have paid off over £35k so far and only (only - lol!) about £19k to go. I always wonder how the hell did I get into such a bloody mess but, there it is, easily done. So, guys, if you are in debt, scared witless, can't sleep at night, jumping at every knock at the door, every telephone call, wondering if there is any way out, there is, please, please seek help right now! Sooner you do it, sooner you will be free. I can heartily recommend StepChange, but there are other debt charities out there. Good luck to you all. xxx

sourcrates

Hi Jak65,

Do any of your debts still originate from the 80's/90's ?

If so, maybe sending a CCA request to these accounts may be of benefit to you.

KID77

Thank you for sharing your story and it shows how easy it is for debt to spiral out of control like my own situation.
Well done for taking action xx

Jak65

Bless you, thank you. Wishing you all the best on your journey - remember, you are DEFINITELY not alone! Good luck. xx

Jak65

Hi sourcrates, forgive my ignorance, but not sure what you mean? The debts all originate from the late 90s early noughties. I am very naïve and hopeless with money, which got me into this mess in the first place. xx

sourcrates

Jak65 wrote: »

Hi sourcrates, forgive my ignorance, but not sure what you mean? The debts all originate from the late 90s early noughties. I am very naïve and hopeless with money, which got me into this mess in the first place. xx

Basically you make a request for information about your credit agreements, your right under sec 77/79 consumer credit act 1980.

If they can't provide the correct paperwork, then the debts may be unenforcable in court, and you may choose not to pay them.

Google "CCA request" find out a little more about your rights.

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx

Little_Miss_Sunshine

A similar story to mine ( although I'm happily married lol). Seriously think about CCA ing all your remaining debts. A significant amount of mine are unenforceable. This may not be something you wish to consider but you should find out if they are unenforceable. It may give you more options.
Thanks for posting

BullShark

I have had a mixture of debts that have either fallen off my credit file and not been pursued and a sizeable business debt that has not been pursued for over 3 years. All totalling over 70k.

I was walking around with the weight of the world on my shoulders and it was horrendous. My point? Keep going, it does pass and the world is a nicer place to live in.

Fergie76

Jak65 wrote: »

Ok. Long story, bear with! At the age of 22 (many moons ago - 1987) bought my first house with my then fianc!. No credit checks in those days, all you needed was three months worth of bank statements and wageslips to get a mortgage! A year later, got married, had our first child, and were very happy. Lived hand to mouth, if we needed anything, appliances, carpets, etc. would do it on hire purchase, one item at a time, pay off one item over 12 months, then have another, worked great, never worried about having to wait for stuff. Six years later, we were able to move into a lovely suburban semi, still happy, still living hand to mouth, had another baby and still no credit. In 1994, went into the NatWest one day, and the woman behind the counter (obviously on commission, and I still blame her for everything!!) asked if I wanted a credit card. No, said I, I'm fine, I have a 'Switch' card (remember those?) Oh no, she said, that's a debit card - totally different thing. Ok, I said, having no idea what she was on about. I was 28 years old and had no idea what a credit card was - seriously. I'd seen the adverts - Access - your flexible friend! But hadn't a clue really. Anyway, a few days later, said card landed on my doorstep - £800 credit limit. Wow! I thought, can afford a dining room carpet for my new house - £400 and repayments £11.00 Per month - seriously! Was so naïve and thick, didn't think about the interest!!! Next, bought hubby new watch, £130, quite a sum in those days - monthly repayments still nominal, still not thinking about the interest. Fast forward the next few years - Barclaycard, Marks & Spencer, Lloyds TSB, Bank of Scotland, American Express, all chucking those lovely credit and store cards at me, then several loans here and there to 'consolidate' my borrowing - yeah whatever - like an Aladdin's cave! Up those balances crept, slowly but surely, increasing my credit limits every so often because I was a 'good customer'. Fell for it all, hook, line and sinker, and took it all out in my own name - what a prat. So, when 'lovely' husband no. 1 (lol) decided to trade me in for a newer model, not only did he leave me and our two young children, but also left me in a shed load of debt. Nothing I could do about it - all in my name because I 'dealt' with the finances (lol). Not long after, met up with a childhood friend, got together, married and had a baby. This was 15 years ago. To this day he has no idea of the financial mess I was (and still am) in - couldn't tell him, not his problem. Was still struggling to pay off my debt until, one day, I realised enough was enough. Four years ago I finally plucked up the courage to contact StepChange Debt Charity, the hardest, but best thing I've ever done. It has been tough at times (I've still got two more years to do - I was £56K in debt) but not because the majority of my salary is swallowed up in paying it back, it's the shame, embarrassment and self-hatred I find hardest to deal with - the fact that I feel a failure and that, at 51 years of age, I have nothing to show for my life (apart from my lovely family) lost everything, and the fact that I have carried this burden alone, trying to protect my family from this awful secret for so long. But, I am beginning to see the light at the end of the tunnel now - I have paid off over £35k so far and only (only - lol!) about £19k to go. I always wonder how the hell did I get into such a bloody mess but, there it is, easily done. So, guys, if you are in debt, scared witless, can't sleep at night, jumping at every knock at the door, every telephone call, wondering if there is any way out, there is, please, please seek help right now! Sooner you do it, sooner you will be free. I can heartily recommend StepChange, but there are other debt charities out there. Good luck to you all. xxx

Have you ever thought of paragraphs? Seeing a big wall of text like on a computer screen hurts my eyes and puts me of reading it before I even start. I am sure I am not the only one.

Not having a go, just saying that a big wall of text like that is not the easiest thing to read.

sourcrates

Jak65 wrote: »

Ok. Long story, bear with! At the age of 22 (many moons ago - 1987) bought my first house with my then fianc!. No credit checks in those days, all you needed was three months worth of bank statements and wageslips to get a mortgage! A year later, got married, had our first child, and were very happy. Lived hand to mouth, if we needed anything, appliances, carpets, etc. would do it on hire purchase, one item at a time, pay off one item over 12 months, then have another, worked great, never worried about having to wait for stuff.

Six years later, we were able to move into a lovely suburban semi, still happy, still living hand to mouth, had another baby and still no credit. In 1994, went into the NatWest one day, and the woman behind the counter (obviously on commission, and I still blame her for everything!!) asked if I wanted a credit card. No, said I, I'm fine, I have a 'Switch' card (remember those?) Oh no, she said, that's a debit card - totally different thing. Ok, I said, having no idea what she was on about. I was 28 years old and had no idea what a credit card was - seriously. I'd seen the adverts - Access - your flexible friend! But hadn't a clue really.

Anyway, a few days later, said card landed on my doorstep - £800 credit limit. Wow! I thought, can afford a dining room carpet for my new house - £400 and repayments £11.00 Per month - seriously! Was so naïve and thick, didn't think about the interest!!! Next, bought hubby new watch, £130, quite a sum in those days - monthly repayments still nominal, still not thinking about the interest. Fast forward the next few years - Barclaycard, Marks & Spencer, Lloyds TSB, Bank of Scotland, American Express, all chucking those lovely credit and store cards at me, then several loans here and there to 'consolidate' my borrowing - yeah whatever - like an Aladdin's cave! Up those balances crept, slowly but surely, increasing my credit limits every so often because I was a 'good customer'.

Fell for it all, hook, line and sinker, and took it all out in my own name - what a prat. So, when 'lovely' husband no. 1 (lol) decided to trade me in for a newer model, not only did he leave me and our two young children, but also left me in a shed load of debt. Nothing I could do about it - all in my name because I 'dealt' with the finances (lol). Not long after, met up with a childhood friend, got together, married and had a baby. This was 15 years ago.

To this day he has no idea of the financial mess I was (and still am) in - couldn't tell him, not his problem. Was still struggling to pay off my debt until, one day, I realised enough was enough. Four years ago I finally plucked up the courage to contact StepChange Debt Charity, the hardest, but best thing I've ever done. It has been tough at times (I've still got two more years to do - I was £56K in debt) but not because the majority of my salary is swallowed up in paying it back, it's the shame, embarrassment and self-hatred I find hardest to deal with - the fact that I feel a failure and that, at 51 years of age, I have nothing to show for my life (apart from my lovely family) lost everything, and the fact that I have carried this burden alone, trying to protect my family from this awful secret for so long.

But, I am beginning to see the light at the end of the tunnel now - I have paid off over £35k so far and only (only - lol!) about £19k to go. I always wonder how the hell did I get into such a bloody mess but, there it is, easily done. So, guys, if you are in debt, scared witless, can't sleep at night, jumping at every knock at the door, every telephone call, wondering if there is any way out, there is, please, please seek help right now! Sooner you do it, sooner you will be free. I can heartily recommend StepChange, but there are other debt charities out there. Good luck to you all. xxx

Is that better ?

Fergie76

sourcrates wrote: »

Is that better ?

Yep. Thanks.