Half way through my DMP and feeling very low - Don't think I'll ever recover from it

loubie_lou

You are paying off your debt and doing a damn good job on it. In no way are you useless, never forget that.

I felt the same. I used payplan as it was back in the day and yes it was boring. But think of yourself, do some free things, exercise, meditate, does other suggest and think of all the great holidays you will be able to afford in 2020!!

All the best....

Hanginthere

a quicker way of getting over it is start saving a bit on the side and offer your creditors a lower amount to pay off in one go, like if you had a credit card for 1000 and you're paying through SC 10 towards it every month tell them you can pay 600 in one go and they clear your debt in that regards. that may help you get off quicker. and save you some £££.

nkkingston

Give yourself an achievable task to focus on, instead of the debt. Maybe that's learning a new language, brushing up on your cooking, giving yourself an exercise goal, or starting a creative project. If you give yourself something else with a ticking clock and lots of small tasks to complete, it'll take your mind off the other one. Write a novel. Learn Russian. Run a marathon. Paint a bedroom. Knit a jumper. Learn to make the perfect souffle.

Countdown_has_begun

Thank you everyone for your great advice.

I think I am just focusing too much on clearing the debt and worrying about what my creditability will be in the future - it's turning into an obsession. I constantly worry about ever being accepted for things again. Don't get me wrong, I never want loads of credit and store cards again, but it would be nice to eligible and perhaps be able to access credit if I ever really needed it - especially a mortgage.

You are definitely right about getting into something to occupy my mind. I did a 5k fun run with my Niece on the weekend and really enjoyed it, so it made me think about starting running. Baking and cake decorating is also a serious hobby and passion of mine. I have thought about starting a food blog, but not sure I have what it takes...I guess it can't hurt!

I find myself wishing my life away and I hate it because I'm 34 and now's the time that I should be relishing my 30s.

Thank you to everyone once again.

Fireflyaway

My DMP will take another 104 years to pay off. Literally I'm not exaggerating! However the debt is now old and although I'm still liable for the balance it no longer showing on my credit file.
Even with a bad score you can live. There are always ways round having to use credit. The fact you have been disciplined and paid off so much is so impressive. Think how well off you will be once the debts gone and vyiu can save the same amount!

tealady

Hi
Don't worry about the future, it isn't here yet and lots can change.
Just concentrate on enjoying life, find free/cheap things to do.
Yes clearing debts is a slog, but that doesn't mean life has to go on hold (nor is life over)
Why not have a chat with stepchange to see what your options are?
Also have a look at your own signature, and believe in it
Good luck

sourcrates

Fireflyaway wrote: »

My DMP will take another 104 years to pay off. Literally I'm not exaggerating! However the debt is now old and although I'm still liable for the balance it no longer showing on my credit file.
Even with a bad score you can live. There are always ways round having to use credit. The fact you have been disciplined and paid off so much is so impressive. Think how well off you will be once the debts gone and vyiu can save the same amount!

Now may be the time to send out some CCA requests, i would bet a lot of it may now be potentially unenforceable if they cannot supply compliant paperwork.

Chrisblue1962

Countdown_has_begun wrote: »

Thank you both.

I’m just tired of feeling like I’m a failure and even when I have worked hard to clear my debt I will only be applicable for adverse credit options and at much higher interest rates, which just doesn’t seem fair. I know you pose a higher risk to creditors after a DMP but I just want a time in my life where I can have a good credit rating and put this well and truly behind me. At the moment it just feels like that will never happen.

Trust me, you are not a failure - this is somebody who is 8 years into a DMP and still has circa £15,000 to repay - "Get knocked down seven times, get up eight times !!"

Chrisblue1962

nkkingston wrote: »

Give yourself an achievable task to focus on, instead of the debt. Maybe that's learning a new language, brushing up on your cooking, giving yourself an exercise goal, or starting a creative project. If you give yourself something else with a ticking clock and lots of small tasks to complete, it'll take your mind off the other one. Write a novel. Learn Russian. Run a marathon. Paint a bedroom. Knit a jumper. Learn to make the perfect souffle.

Excellent advice, which are wise words to us all. I have recently started learning to ride and maintain a scooter (motor not push-along ). Got lots and lots of other things I wish to do too !

20aday

Good afternoon,

As reiterated above-you are not a failure! You are doing great (even though it doesn’t feel like it) and before you know it everything will be paid off and the slate ‘wiped clean’.

I’ve been in a DMP too; 15 years ago come 2018. Back then I too felt useless and that life would never be ‘normal’ again but I’ve learned from my mistakes and am proof, like many others, there is a light at the end of the tunnel.

In terms of credit etc? Well I managed to get a loan with Tesco Bank a couple of years ago with an APR of 3.5% which I never expected (granted my adverse history was long gone) but don’t fear a life of high interest rates; with some stability behind you you’ll be fine.