Mortgage with poor credit (happy ending)

marflar

A little over 2 years ago I posted this thread:

https://forums.moneysavingexpert.com/discussion/5047465

Essentially, a string of bad decisions in my early twenties had left me in a VERY poor financial situation - I have a decent job but the hole I had dug (including poor financial management) had left me in a nasty debt cycle.

Maxed out card, £2000 overdraft and payday loan use - poor show all round

I started that thread because I was trying to sort myself out, and really wanted to buy a place - which in that stat was very unlikely

I basically reduced my monthly life to a spreadsheet, all contract cut off (TV license, sky, phone) and sold my car (no more mot, fuel, tax or insurance - i know this isn't possible for everyone!).

It was tough but necessary!

The main reason i'm righting this is because, well, it all worked out. 2 years ago I thought it was a no go - that those stupid short sighted decisions in my twenties would haunt me for years to come - 3 weeks ago I picked up the keys to my place and it's great

Just want people to know that when the past is holding you back it sucks majorly, but sorting it is doable! It just takes time and patience

MSE_Chris

marflar wrote: »

A little over 2 years ago I posted this thread:

https://forums.moneysavingexpert.com/discussion/5047465

Essentially, a string of bad decisions in my early twenties had left me in a VERY poor financial situation - I have a decent job but the hole I had dug (including poor financial management) had left me in a nasty debt cycle.

Maxed out card, £2000 overdraft and payday loan use - poor show all round

I started that thread because I was trying to sort myself out, and really wanted to buy a place - which in that stat was very unlikely

I basically reduced my monthly life to a spreadsheet, all contract cut off (TV license, sky, phone) and sold my car (no more mot, fuel, tax or insurance - i know this isn't possible for everyone!).

It was tough but necessary!

The main reason i'm righting this is because, well, it all worked out. 2 years ago I thought it was a no go - that those stupid short sighted decisions in my twenties would haunt me for years to come - 3 weeks ago I picked up the keys to my place and it's great

Just want people to know that when the past is holding you back it sucks majorly, but sorting it is doable! It just takes time and patience

Let me be the first to say congratulations :T from all the MSE team on your journey!

I hope you continue to reap the rewards of saving for years to come!

Happy saving. :money:

Durban

Well done! What a fantastic ending. That gives me hope for a certain member of my own family