Finally on the Home Run to Debt Free

born_2b_mad

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

Good work! Happy for you

enthusiasticsaver

Well done. 

kimwp

Well done! Thank you for coming back with an update 🙂