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'I ran up £1,000s in debt while suffering from depression... now I'm digging myself out of it'

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'I ran up £1,000s in debt while suffering from depression... now I'm digging myself out of it'

edited 30 November -1 at 12:00AM in Debt-Free Wannabe
2 replies 4K views
MSE_KelvinMSE_Kelvin
105 posts
MSE Staff
Second Anniversary Newshound! I've been Money Tipped!
MSE Staff
edited 30 November -1 at 12:00AM in Debt-Free Wannabe
I usually write blogs as the 'MoneySavingIdiot', chronicling my attempts to practice what we preach at MSE (the last one was on switching bank accounts). But as this is a more personal blog, written ahead of World Mental Health Day 2019 on Thursday, I thought it would be better coming from MSE Kelvin. So, here's my tale of my own mental health struggles and how I've battled credit card debt...

Read the full blog: 'I ran up £1,000s in debt while suffering from depression... now I'm digging myself out of it'

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  • edited 9 October 2019 at 7:00AM
    adindasadindas
    4.8K posts
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    edited 9 October 2019 at 7:00AM
    'I ran up £1,000s in debt while suffering from depression... now I'm digging myself out of it'

    "I owed around £15,000 in total and, while that may not sound like a lot of money to some, it was to me. Without a job, I couldn't cough up the minimum payments each month any more than I could sneeze diamonds."

    I didn't end up getting the full £9,000 credit limit I'd applied for, but shifting £6,650 of credit card debt from over 20% interest to 0% interest was better than a poke in the eye with a sticky stick."


    That highligted bit is very interesting.
    I wonder which creditcard company is willing to give you credit of £6,650 if you do not have a job and you already have a debt of £15,000 ?
  • MSE_KelvinMSE_Kelvin
    105 posts
    MSE Staff
    Second Anniversary Newshound! I've been Money Tipped!
    MSE Staff
    Afternoon adindas,

    Thanks for your comment. I actually had a job when I applied for that credit, as explained in the paragraph below the second one you quoted:

    Around the same time I got a new job, started paying as much as I could afford off each card every month (about £250 in total), and things were looking up.

    Probably could have made that a bit clearer, but it was tricky to write as there was a lot to get in as the blog covers a few years.

    Hope that helps,

    MSE Kelvin :beer:
    adindas wrote: »
    'I ran up £1,000s in debt while suffering from depression... now I'm digging myself out of it'

    "I owed around £15,000 in total and, while that may not sound like a lot of money to some, it was to me. Without a job, I couldn't cough up the minimum payments each month any more than I could sneeze diamonds."

    I didn't end up getting the full £9,000 credit limit I'd applied for, but shifting £6,650 of credit card debt from over 20% interest to 0% interest was better than a poke in the eye with a sticky stick."


    That highligted bit is very interesting.
    I wonder which creditcard company is willing to give you credit of £6,650 if you do not have a job and you already have a debt of £15,000 ?
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