Debt Be Gone

motivated

Just to echo what DMP tiger said I totatally agree. I've been in my DMP for 18 months and have been making payments since April 2017. Everything settled down very quickly indeed. I have a massive mountain to climb but now I'm thoroughly enjoying my DMP which is now self managed.

• Yes we borrowed the money
• Yes we should've been more careful and responsible
• Yes we could have done things differently
• Yes it will take years to repay
• Yes I wish we could go back in time
  
  
  
• No we won't stress, panic, worry anymore
• No I won't be bullied by creditors
• No I won't let it take over our lives
• No I won't hide from creditors anymore

And YES we going to live my life (within budget of course) :rotfl: even saving for a cheap holiday away.

You will also feel all of these things too once you get into the swing of it. I was totally at the point you are now. I was posting on the DFW thread and you can here the panic in my posts. Not any more

Good luck on your journey
M

motivated

Sorry me again . Have a read of this post. I love it, have it subscribed and read it often

https://forums.moneysavingexpert.com/discussion/5575569/11-years-a-slave-end-of-my-journey-from-103-500-in-debt

M

DMP_Tiger

motivated wrote: »

Sorry me again . Have a read of this post. I love it, have it subscribed and read it often

https://forums.moneysavingexpert.com/discussion/5575569/11-years-a-slave-end-of-my-journey-from-103-500-in-debt

M

I should find that story inspirational, clearly lots of people do. But to clear £103,500 in 11 years is an average of £784 per month. I can afford around £100 per month. Actually £784 per month is more than I was paying before I drowned in my debt and arrived at DMP stage. If I could afford £784 per month I wouldn't have needed a DMP.

I hope that doesn't make me sound bitter because I'm not bitter at all, it really is a great story. I just get more inspiration reading stories like Booksandbacon's because I can identify with the emotions that are coming through......

motivated

DMP_Tiger wrote: »

I should find that story inspirational, clearly lots of people do. But to clear £103,500 in 11 years is an average of £784 per month. I can afford around £100 per month. Actually £784 per month is more than I was paying before I drowned in my debt and arrived at DMP stage. If I could afford £784 per month I wouldn't have needed a DMP.

I hope that doesn't make me sound bitter because I'm not bitter at all, it really is a great story. I just get more inspiration reading stories like Booksandbacon's because I can identify with the emotions that are coming through......

You don't sound bitter at all.

I get inspiration from it as I have a huge mountain to climb too and that is evidence that it is indeed possible. Everyone's DMP is unique and is totally different from the next one. Whatever you are paying towards your DMP will bring your debt down not up so as long as you are heading in the right direction then it's a bonus

Good luck
M

jwil

Hope you are feeling a bit better today.

Every step you are making is bringing you closer to being DF.

Things will happen and your circumstances will change as time goes on and you will hopefully be able to clear it sooner.

I started with a similar amount to you - I've only been paying £1 a month for nearly 2 years - there's just no spare in my budget. However last year I knocked over £10k off my debts through one being unexpectedly written off, and a refund and a small ppi payment meaning I could clear one completely and settle a F&F on another. It will not happen again, but it's something I could never have predicted.

Two things you might like to look at - do CCA requests for all of your debts - the one I cleared as a F&F was unenforceable so I managed to settle for around 35% of the balance. It's worth finding out whether yours are enforceable.

Also, some people have managed to get payback from Payday loan lenders for lending irresponsibly. It might be worth looking at that as well depending on your situation. There is a thread on here about it.

Also, double check if you had ppi as well if you haven't already.

booksandbacon

Thank you so much for your words of support and advice DMP_Tiger, motivated and jwil - when I read these I honestly got a bit emosh!

It really helps to know that other people have gone through and/or are going through the same thing, the same emotions, having the same thoughts. I think even though OH is fully on board, we both know I'm the driving force behind getting this organised. It's nothing against him, it's just our personalities - he is just...super chill, and I guess I'm not super chill :rotfl: He is one of those "it'll all work out in the end" types. I wish there was an eye-rolling emoji I could put in here, because I am the "it works out because people like me put in the work to make it work out in the end" types. I guess we balance each other out, like the force in Star Wars.

Just a couple of Jedi's, fighting the financial dark side (cue lightsaber sound).

I think as well he is a much more methodical, logical person - so he sees getting mad about something as unhelpful (for him), he prefers to think of it all as a puzzle that needs to be solved. But I need the fire in my gut to keep me going, I need to be mad and stay mad :mad:

In other news I have set up some savings accounts and an 'everyday spending' account for OH and me. I feel weirdly nervous about the savings accounts - I think because I've never really used them, if there was ever money in them it left pretty quickly. I guess I'm worried I won't be able to stick to saving, that I'll just dip in and use a few quid here and there and then !!!!!!! it's gone. I have Emergency Fund, Car Sinking Fund and Gift Sinking Fund. I toyed with the idea of a 4th - for F&F's, bit at this stage I feel like that's tempting fate. My first goal is to live on the budget we've set out and get the DMP rolling...

enthusiasticsaver

Good luck with the DMP. Getting into the savings habit will help. Don't overdo it to start with. Living within budget is the first step and emergency fund.

SavingAFuture

I read somewhere that clearing debt is like emptying a lake with a teaspoon.
If you focus on the lake you'll feel overwhelmed but if you just keep focusing on that teaspoon, one day you'll look up and the lake will have become a pond, then a puddle, then it'll be gone.

And THAT will be a good day

SaF x

pidge04

I read a comment you had posted on someone!!!8217;s diary and it made me laugh (about your car and glasses) so I came to read your diary.

Sounds like you are on the right path AND you have a great sense of humour!

Good luck.

booksandbacon

pidge04 wrote: »

I read a comment you had posted on someone!!!8217;s diary and it made me laugh (about your car and glasses) so I came to read your diary.

Sounds like you are on the right path AND you have a great sense of humour!

Good luck.

Haha - thanks pidge04!