Never Again. Rose's Escape.

mrosie

I've spent a lot of time reading threads on this forum, and it's been incredibly helpful. More helpful than StepChange (and they were helpful).

I'm about to stop paying all of my debt and start an emergency fund. StepChange wanted to start a DMP before I'd missed a single payment (I've never missed a payment of anything in my life), but I've learnt that my credit record will clear faster if I get the defaults out of the way as soon as possible.

I'm so ashamed, scared, and upset to be in this position, and I'm dreading the fallout when I stop paying, but I've backed myself into a place so awful I have no other option.

I owe £28k. Single mum. Mortgage and 3 amazing kids. Lost my (very good) job last July.
I've done a complete budget of EVERYTHING, including all yearly expenses (which I'd never really bothered including before).

I simply want to feel better about who I am.

londoner2019

Good luck on your journey! 

One piece of advice - do not be ashamed. Look how many people are on this forum. You're not alone. 

As far more knowledgeable people have explained on this forum, the fallout from defaults etc is nothing to fear. For banks, debt agencies, it's just business. It's just numbers on a computer. Emails, letters, they're all automated. It's not personal. It's also slow. So try to relax, play the waiting game. 

Following your diary.

mrosie

Thank you, that's a good way of looking at it. It feels very personal, so I'll keep this in mind.
Off to read your journey.

doingitanyway

There's no shame in your situation. Just be proud you are facing up to it. Good luck with everything

mrosie

Thank you. Your house by the sea sounds beautiful. How do I subscribe to/follow a thread? I've seen people say they have done that, but I can't see how...

doingitanyway

https://forums.moneysavingexpert.com/discussion/6595179/living-large-on-a-small-income-by-the-sea#latest

It's tough losing work. I was made redundant and I panicked (and that was without being responsible for 3 children)
And yes, I have a nice house now, but in 2019 I was £24,000 in debt. I paid it all off and you will sort your debt out too.  I have subscribed to cheer you on. (there is a little flag at the top righthand corner of the page of whatever diary you are reading...click on it and that's it, you will be subscribed)

mrosie

Omg that's in less than 6 years! That is incredible, thank you for the inspiration.
Oh I see - the flag/bookmarky thing... thank u ☺️

BadBookkeeper

Read the debt free roll of honour to read about people’s successful stories and lots of tips if you haven’t already.  You’ve made a great start writing a budget with everything included.  Good luck on your journey. 

Sarahwithlove

Well done for taking the first steps. 

Humdinger1

Yes and @mrosie, just remember that the Queen Mother apparently had an overdraft of £4 million when she died.   If she didn't feel bad, why pray should you? You're tackling it! I've subscribed and am cheering you on.  You'll fix this for sure.  Love Humdinger xx 

pink_fluffy_sparkles

Subscribed to cheer you along! X