Debt Diary of an Idiot - Final Chapter...

Hobsch

I have been visiting this site for a while and was doing ok and sorting my debts. Unfortunately I had never told my GF about my debts and when she lost her job and had a spell of only part time work I tried to help out and the only way to do so without her knowing about my problems was to stop paying some of my creditors and also and I feel a complete idiot - but I i used some cheque cashing cowboys and I got into a worse state. I also did not come online to MSE which had helped and am sure I would of got support. To make things worse all the stress bought on a serious panic attack leading to asthma attack and I ended up in Hospital for 5 days - some of it in Intesive Care.

The blessing was that my Girlfriend found out about the debts and although she was very upset and annoyed - mainly that I had kept it from her she is sticking by me and now shes working full time things will improve. Her knowing is a huge burden lifted from shoulders. The Cheque cashing was getting extremely expensive as I had to keep extending them each month and I am pleased to say although its more 'borrowing' I have a loan from my work to cover these (£950) and I will pay work back monthly and no interest and if I cant afford a month I can leave it for the next month.

I currently stand at £26,098.77 and with payments due to be made shortly will go below £26K this month.

I am going to stick to this debt diary as I know the best place for me to visit is MSE and all the helpful people here and it will keep me focused. I am going to get this sorted for my Girldfriend and my sake ASAP. No more borrowing and definitely not going to make myself ill!

Sorry for long post. Have to start somewhere. Its the Final Chapter cos I know if I dont sort it this time I will lose so much and never sort it.

trying-very-trying

Hi, there. Well it's certainly not worth making yourself ill over(says she who has lost almost 2 stone since June with worry).
The one good thing is that you are now more focused and have the support of a loving gf behind you.
have you posted a soa? if not why don't you post one up? I'm sure that you'll find lots of experienced advice on ways to cut back, that'll all help make your debt free journey smoother and easier.

Stick with it, now you're on the right track again.

Hobsch

I should have listed what I currently owe:

Payday UK - £102.40
Barclaycard - £3181.09
JJB Storecard (To Lowell Portfolio) - £412.25
Capital One - £1016.57
MBNA loan - £2147.74
EGG Loan (To Moorcroft Debt recovery) - £6578.13
Barclay Loan - £12660.59

chloebelle

Good luck to you, I will be following your journey. The biggest lesson I have learnt from here so far is to really believe I can do it, stick with that attitude and the debts will get sorted! :A

tealady

Can you put up a full SOA so we can see whats going on and can advise you on the best way forward (use Southerenscousers sticky at the top)

Crown

Welcome back.

It takes a lot to admit your problems and come back so well done on taking on the challenge again. As suggested post up your statement of affairs and let us see if we can see anywhere you can make a few savings.

You may already know this but get back to basics and start keeping a spending diary for whatever you spend. This will show you were exactly the money is going and after a short time this will give you an idea where you may be able to make some more savings.

Also if you are deadly serious about sorting this out you need to promise yourself that you will stop using credit of any sort ASAP why you are tackling the debt. It is no good saying you want to get out of it if you are still using credit cards ect each month as the interest will still be piling on.

Once you have posted up a SOA try and do a realistic budget of what you are going to do with your money. Make sure you include some money for yourself for enjoyment or trust me there is no point as after a around 6 weeeks the budget goes out the window when the "Debt Blues" hit and you slip into depression. Thats not the forward

Once again good to see you back and make sure this your lightbulb moment. after reading your post I think you will do it this time as surely the experience of being hospitalised for 5 days isnt worth it. Stick within your income and happy days are ahead.

Hobsch

Thanks for your kind comments and help. I will get a SOA done up. I did one before and thanks to advice given had cut costs on bills, cut costs on shopping bills and got some extra income from ebaying and some of the sites like rpoints.

Hobsch

Day 1 - Mon Sep 24th
Having slept well - which I have finally started to do it was a pretty good day. I spent money which wasnt good but made money and as people have said you do need some pleasures in your life to keep you going.
I got £15 via Paypal which came into my bank and £25 for an old Printer I sold to my work as they needed one and took the chance.
I bought 2 DVD's - Top Gun £2.83 and Speed £3.12.
Need to pay the £25 in to the bank.
Also sent letters to MBNA who were trying to get me to up my monthly repayments and Barclaycard who I have been chasing for charges refunds but they have not replied since July and I hadnt been on the ball to chase them up.
So all in all not too bad a start to the week.

Hobsch

Day 2 - Tues Sep 25th 2007
A half day at work which was nice. Met my dad for lunch and he paid - his treat so no money spent there. £200 paid to the Barclayloan today which takes me below £26K for the first time. Still a long way to go but always a blessing. A No spend day (Excl repayment) so all very pleasing. Just need to update the Signature to show new figures.

MissKJ

Well done on the overpayment Hobsch, but you still need to do you SOA ...nag....nag.....

Hobsch

I know. I need nagging. Thank you. At work but will when time.