Three years since bankruptcy

Fighter1986

Well it's been quite a journey these last three years since I had to declare myself bankrupt.

Just thought I'd have a bit of a ramble in case anyone's interested.

Settled down with my new better half in a far more prosperous part of the country, earning more than double what I was three years ago, saving well on our way to buying a house together, will be ready to buy something lovely next summer; by which time I'll also meet Nationwide's lending criteria.

I've amassed quite the hilarious array of sub prime flotsam since being discharged from BR two years ago - Zopa, 2x Capital One cards, a "Level" card from Lendable and now a 118118 Money card. Opened a JD Williams and Grattan account, too, and never used each one. One even doubled my limit despite there being no transaction history. Waiting for them to close them tbqh due to inactivity but at least it's building credit history in the mean time.

Yep, they're all sub prime but I made this bed, I'm gonna lie in it.

At least each card I've been given (they were all pre-approval through Clearscore, Credit karma, or Experian) has had a higher limit than the last -

£200, £300, £400, £500, and now £1,200 from 118118 Money.

Of course, any time I do use a card it's cleared in full at the end of each month so I've never paid interest on any of them.

I probably don't need five cards but the total limits still only total about 5% of my income, so I'm not worried about looking over-committed. 

What has really stood out to me through all this is how I never have any urge to use credit any more. It just doesn't interest me. I take any pre-approved credit card that's sent my way and then largely just don't use it. 

The new friends I've made since deciding to overhaul my life have been bewildered how I used to survive on so little where I used to live and can't understand why people tolerate such offensively small salaries there.

I know what they mean now. I only moved 70 miles east and the cost of living to earnings ratio here (Bristol) compared to where I used to live (Exeter) is night and day.

I've learned that actually I've got a lot of restraint, excellent budgeting skills, and can be quite financially competent when I'm in an area with actual prospects.

I don't want to share this as a boast, but as a bit of inspiration to others that it is possible to overhaul one's life, and if that means disassociating yourself from all the people who accept a poor quality of life and moving somewhere better, do it. 

Don't ever allow yourself to be a victim of your surroundings. 

You've got this. We all do. 

TripleH

Congratulations on your new life. No its not boasting. It's showing people that there can be a new life at the end of the bankruptcy tunnel.

Sometimes a little hope is all we need.

So it's cheaper to live in Bristol than Exeter?

A friend was eager for us to move to Exeter.

Fighter1986

TripleH said:

Congratulations on your new life. No its not boasting. It's showing people that there can be a new life at the end of the bankruptcy tunnel.

Sometimes a little hope is all we need.

So it's cheaper to live in Bristol than Exeter?

A friend was eager for us to move to Exeter.

Thank you.

There's a far wider gamut of housing costs in Bristol compared to Exeter.

Honestly don't move to Exeter. It's a graveyard of ambition with career prospects to match.

I went from being headhunted once or twice a year to (not even an exaggeration) a dozen times in one morning overnight just by updating the address on my CV.

My earnings have literally doubled in one year.

We do have quite a nice house in a quiet area and comparing rents on Rightmove we would be paying 30% more for a similar house in Exeter and earning 35-40% less.

The work my other half does doesn't even have a market in Exeter. 

I'm so glad to see the back of that place. Attitudes are so different too. It's like moving out of the third world into a futuristic Eutopia. 

TripleH

Thank you for that. We opted for the North West anyway. My wife's job could be done anywhere in the country anyway.

From my experience as a student (paranoid about getting into debt) and other times I've been on a limited fixed income, having to budget can be quite invigorating and quite good for self discipline. I also have to admit I do eat better overall when I have to think more about  how much I have to spend.