When you owe more than your annual net salary

[Deleted User]

Morning lovely,

Welcome to the boards, I hope you're feeling a bit better today?

Will be following you and cheering you on xxx

WannabeFree

Morning Hope you're feeling better today.

You've done the hardest step and that's facing up to it. There will probably be bumps in the road - there is in most journeys. We will all be here to help you along the way

x

bertiewhite

I can't say that I actually cried when I realised how much debt I had when I started my DF journey but I certainly had more sleepless night than good sleep nights. I remember the night I had my lightbulb moment - I was tossing & turning so I crept downstairs to make a cup of tea and my wife came down a while later to find me rocking backwards & forwards with my head in my hands.

I did feel like crying but the moment she put her hand on my shoulder and said that we can sort it out I felt lifted and that's when I started my spreadsheet & mission to turn my life around.

NeverendingDMP

Hello and welcome. I too have experienced the kindness of stepchange and various others. I'm three years into a DMP and have just put hubby's debts in as well a few months ago to make it a joint one. This has improved things no end as we have no access to credit anymore and since Oct last year the numbers have only gone down. We at present owe 35487 with an income of 30000 between us. It's a scary thought when I look at it like that at our DMP still has an estimated 17.5 years to run but if I ignore the big numbers and the years and keeping plugging away I know it will end sooner. All I would say Is double check what budget you have agreed to as ours is very tight(I know it has to be) but it's very hard to penny pinch long term. A bit of free choice money to spend or add to the debts makes it much more motivating. I have also sent the pennies from my bank account to a savings account. Eg 2.10 so send the 10p. It's a minor thing but if you do it and the readjust your budget slightly to cope it does build up and suprise you. There's lots of forumsive found helpful, the grocery challenge, DMP mutual support and full and final settlement threads are just a few.

Good luck in your journey and keep us posted. X

beanielou

Hoping that you feel a bit better today.

jwil

Good luck, and well done for making that step to get it sorted

pidge04

Hope you are ok and feeling hopeful

System

Good luck LL!!! You can do this x

LexieLou

Sunnysam72 wrote: »

Hi, I'm about the same amount in debt, it's grown over the past 20years. My salary has dropped by half, I used to be on a great salary, but chose time over stress and ironically now have more stress to do with money! Keep to your plan, the 6 years will pass in he blink of an eye. I'm looking at 10years to being totally debt free - unless we sell our house then it'll be sooner! Loads of folk on here are so super supportive and there's tons of info to help you.

Thanks SunnySam72....can i join you on the journey?

LexieLou

Oh you guys are so lovely..utterly gorgeous. Thank you for calling by.

This morning I woke up and felt better than I have in years. I'm sure its just the euphoria of what I have done in the last 36 hours, but it felt good.

I'm still ambling towards NSD...I plan on Sat to actually decide how many a week I can do.

In relation to the budget, I have been on a budget for the last year, just being stupid at times with the old cc and adding to the mount of debt.

I plan to save an EF in the next 6 weeks, get the paperwork off to SC and then pray that my car stays alive. No joke, I actually get into the car each morning and ask the 'Big Man' up in the heavens to keep me safe and keep my car alive.

I bought some cleaning products in £1 shop today, to be fair thats where I usually buy them.

I'm late posting tonight as I was home late, watched TV for a bit and am only crawling into bed now

I've a lot to do in the next few weeks....

I sew, so I could use up my old remnants of fabric and sell those creations and make a few £££

Anyway, nothing else to report.

Day 2 is done....

Tomorrow is a new day

Good night all, sleep tight

LL xx