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Getting Debt free,my story hope it helps!
carebear80
Posts: 9 Forumite
Hi i'm new here, (i posted somewhere else too by accident) :eek: sorry:D
I wanted to post something that someone might find useful or if there are people like me here you may find a bit of light at the end of the tunnel!
In 2006 my husband,myself and 2 young children lost our house due to redundancy, we couldn't keep up the payments and we found ourselves in nearly 30,000 of debt.
We decided to move in with parents so we could save up a deposit to rent. We managed this and rented for a year however everything was getting ontop, all the red letter people found us,hounded us and we even had a balif calling in to say hi :rolleyes: . Because we were trying to pay our debts we were struggling to live and cope financially. Eventually we caved in and our credit was really bad we contemplated bankruptcy but we couldnt even afford to do that it cost over £500!
We moved again and stayed with hubs parents this was a real nightmare so we ended up going to our local council. We were just starting to get sorted out when all the red letters piled on our doorstep again :eek: by this time ive suffered a breakdown, marriage was suffering kids were getting upset..
I went to see a welfare benefits officer and im so glad i did! Because we are currently on Income suport we cant be expected to pay all these people what they are asking. The Welfare officer wrote to all these companys, even getting most of them written off! he told them that we would be paying £1 a month i couldnt believe it. He told them to stop sending letters and doorstep calling and that we would be setting up a standing order for their £1 he also told them that we were well within our rights to get an injunction order for pestering
The Welfare officer then directed us to our local credit union run by Co-Op and a commitee of volunteers. As we know when you have had loans and recieved bad credit its a nightmare to get credit and when you do the APR is extortionate:eek: The credit union only charge 12.9% as a condtion for a loan you need to save anything as little at 50p per week, so after repaying a loan you have ready cash saved. On a loan of say £1000, the interest you pay back is only £62. You can become a member easily,and there are no credit checks.
Now we are able to live and not just exist. We are paying our debts ..ok it may take years
but it's better and we are surviving and now saving.
If anyone is struggling financially i highly reccommend this course of action and my GP doesnt see me half as much as he used to
Sarah xxx
I wanted to post something that someone might find useful or if there are people like me here you may find a bit of light at the end of the tunnel!
In 2006 my husband,myself and 2 young children lost our house due to redundancy, we couldn't keep up the payments and we found ourselves in nearly 30,000 of debt.
We decided to move in with parents so we could save up a deposit to rent. We managed this and rented for a year however everything was getting ontop, all the red letter people found us,hounded us and we even had a balif calling in to say hi :rolleyes: . Because we were trying to pay our debts we were struggling to live and cope financially. Eventually we caved in and our credit was really bad we contemplated bankruptcy but we couldnt even afford to do that it cost over £500!
We moved again and stayed with hubs parents this was a real nightmare so we ended up going to our local council. We were just starting to get sorted out when all the red letters piled on our doorstep again :eek: by this time ive suffered a breakdown, marriage was suffering kids were getting upset..
I went to see a welfare benefits officer and im so glad i did! Because we are currently on Income suport we cant be expected to pay all these people what they are asking. The Welfare officer wrote to all these companys, even getting most of them written off! he told them that we would be paying £1 a month i couldnt believe it. He told them to stop sending letters and doorstep calling and that we would be setting up a standing order for their £1 he also told them that we were well within our rights to get an injunction order for pestering
The Welfare officer then directed us to our local credit union run by Co-Op and a commitee of volunteers. As we know when you have had loans and recieved bad credit its a nightmare to get credit and when you do the APR is extortionate:eek: The credit union only charge 12.9% as a condtion for a loan you need to save anything as little at 50p per week, so after repaying a loan you have ready cash saved. On a loan of say £1000, the interest you pay back is only £62. You can become a member easily,and there are no credit checks.
Now we are able to live and not just exist. We are paying our debts ..ok it may take years
but it's better and we are surviving and now saving.If anyone is struggling financially i highly reccommend this course of action and my GP doesnt see me half as much as he used to
Sarah xxx
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