Finally on the Home Run to Debt Free

born_2b_mad Forumite Posts: 1
Part of the Furniture Combo Breaker
Hi All
Long time since I had previously posted, but just wanted to let you know my current position.
Some 10 years ago I had got into the lowest depths possible, found myself in a debt crisis, loss of job, and divorce which resulted in becoming homeless.

My personal debt had reached £22,000 over 5 accounts, and added to that was a £165,000 mortgage, which although I was not paying anymore, was still hanging over my head as it was a joint mortgage. Reason for this was that I wanted my two boys to be safe, so agreed to let her keep the house without re-mortgaging!

Anyway, come to today, I have cleared the £22k, and the ex has now re-married and sold the house to rent, as she was struggling re-payments. so no longer have the mortgage attached to me. All I now owe is a grand total of £192.85, which I now manage as a single CC.

I am now happy, as I have a new (now 8 years) partner, we live in her owned house and she has just 4 years left on her mortgage. No unmanageable accumulated debt.

It is possible, I saw no way out way back, but if you have the will, you can get out of it.

I managed to create repayment plans with all the debt companies, and to be honest they were all very good in assisting. I was very strict with myself knowing what I coud afford, and when I had some extra money come in this would be used to pay off the accounts. Once one was closed, I would split the finished payment over the remaining accounts, thus reducing the period I would owe. 

Thanks to a couple of share-save schemes at work I managed to reduce the planned payment end from December 26, to April this year.


  • Martico
    Martico Forumite Posts: 727
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    Good work! Happy for you :smile:
  • enthusiasticsaver
    enthusiasticsaver Forumite, Ambassador Posts: 14,720
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    Well done. 

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    Link to soa:
  • kimwp
    kimwp Forumite Posts: 1,473
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    Well done! Thank you for coming back with an update 🙂
    Statement of Affairs (SOA) link:

    For free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.
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