End in sight!!!
So excited! We had 11 credit cards totalling £50,000 debt in 2010 all defaulted except 2 and 8 Months of mortage arrears giving us a total debt of £64k. We are self-employed so we couldn't use StepChange. I handled all the debts myself to let my partner concentrate on work. Got repayment plans with all creditors. Got the mortgage arrears integrated into the capital again so that dealt with that. Kept up with the mortgage repayments as a priority. Revamped all our outgoings to cut them to a minimum. Sometimes it was sooooo difficult and we felt as if we could not keep our heads above water. A few sleepless nights and stress. But we persevered. Made part settlements when we could, mostly between 25% - 40% of total and a few at 50% -75%. Our debt now stands at £5,500 and we are continuing to pay that off interest free. The debts are starting to drop of our credit file as 6 years has passed. Got a new deal on our mortgage, saving us £100 a month and just about to start an ISA for savings. It is possible! Thank you Money Saving Expert for the support and knowledge to tackle this.
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