Poor Single Lady Debt Diary - Trying again

Poor_Single_lady

Also hol was amazing. Parents are amazing. If I had under £5000 I would ask my parents for help so anybody reading in that level please ask your parents for help if they are in a position to help.

Our parents love us more than we ever realise. FACT

I love them but I am too far gone.

Need to sort the remaining 3. Then live within Means which I guess is when I willl need the diary more than ever.

enthusiasticsaver

I presume you are managing this yourself rather than stepchange doing a DMP for you?

That is good that the credit cards are being sympathetic and not judgey. Hopefully they are freezing interest as well as accepting reduced repayments?

Keep posting as living within means can get boring but your diary will be a record of how you are sorting it out. You will see some progress and in the long run you will be much happier without the weight of debt around your neck.

Even if you phone your creditors I would follow it with a letter confirming arrangement. Good luck and I am rooting for you to sort this out.

Emergency savings is something you need to budget for as you won't have access to credit. You should not feel bad. You have been battling the debt for a while, you live on your own in one of the most expensive cities in the world and you have a flat and a mortgage. Obviously make sure you prioritise that. Have you told your family of your money troubles or do you not want to do that? They may support you, not financially but emotionally but totally your call. I just think if you were either of my daughters I would want to know if they were struggling to the extent you have been and not put financial pressure on you re family presents, trips, meals out etc.

Good luck anyway.

Poor_Single_lady

The debts charities clerk suggesting that I call step change but I think I'll just organise things myself and that I know what's happening without having to check.

My parents are quite brilliant. They do know things aren't great and have been really supportive. We tend to only buy presents for the niece/nephew generation and not really big birthday spenders.
It's good from that side of things.

Need to have a quiet week this week.

Poor_Single_lady

Typo. The debt department/help person at the credit card company. Suggested I phone stepchange.

System

Hey. Don't bother ringing anyone - Just do it all by letter - I haven't spoken to a soul all the way through mine! It saves on having to explain yourself or verbalise the guilt.

Big hugs - you can do this!!

doingitanyway

I don't know much about the process for DMPs, but I am behind you all the way. Def team poor single lady here

Poor_Single_lady

Thank you.

System

Hi PSL hope the DMP is getting underway in the near future , you will feel loads better when it is. Glad to hear you enjoyed your holiday with parents.

DMP_Tiger

Hi PSL, just catching up on your diary. I have a DMP just beginning so it's always good to read about other people's experience and pick up/give some tips along the way.

I spoke to Stepchange for some initial help as my head was too scrambled and I didn't know where to start. I am currently paying £1 per month to build up an emergency fund because my credit cards won't work now

Stepchange are great to point you in the right direction but I think you would be able to manage on your own. When I say "on your own", I mean without Stepchange. While you're posting on here you will never actually be on your own :beer:

Poor_Single_lady

Awww thank you. That is a very kind post. I've contacted 3 providers now so just 2 to go.
So far payments of £290 reduced to £60.

The last 2 are payments of £160. I am going to offer £60 in total.

Then I'm going to get some money paid back to my dad so that if I need some agin it is there. I know I should have an emergency fund but I think this way will work better for me.
I'm not good at putting money aside. I know I'll get a holiday invite and it will be gone.
My parents will help but it would be easier to ask for help once I have paid back the original money.

Slowly getting there but will take time. A bit worried about social commitments. Might need to see how it goes.