I Failed... Terribly

Bobbino

So it's been a long while since i last posted on these forums... Mostly through embarassment, and though sinking back into denial about my debts again...

I have an old thread here: http://forums.moneysavingexpert.com/showthread.html?t=586128
Just incase you're interesting in the start of all this.

However, i want to start fresh, so time for a new thread, and hopefully a new start.

Last time i was posting here i was full of good intentions, and wanting to get debt free, well it didn't happen, infact my debt has only got worse, payments still ignored, and i even borrowed alot of money off my parents, which i promised to pay back, which i haven't, and can't.

I was working a nicely paying job, however, as funny as it sounds that job was bad for me. The extra money was nice, but the working environment was literally making me ill. I thought I'd found my dream job, turns out I'd left the job i loved for it, and have spent the past three months trying to get my old job back.

Which I have, finally, i start this sunday which is awesome, and i really can't wait... It's a 50% pay cut, but you know what, i honestly would rather be working for less, and have less personal money, than be working where i was. It seems working in an office is not something I can, or am I willing to do, ever again.

So anyway, enough of the sob story and the reason I've decided to post again...

I've been getting some threatening letters about my debts, 7 days to pay or legal action, those sort of things, and woke up this morning and kinda decided it was time to sort it. I remembered from last time i was here a mention of a company called CCCS, so i trotted off to the MSE site to get the phone number, and that lead to here, and my new post.

Hopefully this time I can do it, my good intentions will finally follow through, and i can make up for mistakes i have made.

I've cut all my credit cards up. I don't want them anymore, I have an inability to not spend money, to not see that nice low balance on the CC and just max it out. After borrowing £5,000 off my parents to pay off my debt, within two months, i had racked up just as much debt as before, if not more.

So there are the reasons I have decided to post again, Just because i need a place to rant, a place where there are people who understand, who have been where I am, and who hopefully listen without calling me an idiot.

Thanks for reading this..

Bobbin.

Holeypockets

Not failed - just didn't succeed first time. You only fail when you give up!

Don't give up!!

Sammy_Girl

Hi Bobbin,
Welcome back. You've made a huge step and are now ready to face your debts. I've only been here since April and have found this forum so fantastic. There will be loads of good advice from other DFWs who are willing and able to help you. Good luck in your journey and all will end well :beer:

Sammy

RAS

Welcome

We all start from where we are, not where we might have been if we had done something differently 6 months, a year or half a lifetime ago.

So where are you now?

**Amy**

:hello:

Welcome back.

I hate the word failed, especially as you have come back to MSE!!!!

I did exactly the same thing last year. Had £5,000 worth of debt, borrowed the money from my mum, and within a couple fo months i had racked up slightly more debt. So now i owe double what i did a year ago. :rolleyes:

Dont panic too much, as now you have decided to sort it out, you will!

Lucy1982_2

Hi!!

Again you have not failed, just found it harder than you thought you would. I can sympathise on the whole spending issue, in fact my diary is call 'confessions of a serial spender'! Like you I just can't help myself sometimes.

But I confess coming back here has really helped, you need to post every day and read the things people have posted as it helps to keep you motivated.

Have you done and up to date SOA? I'm sure you remember how we like them :rotfl: At least that way you will know exactly what debt you have and what income you have to throw at it.

Oh and well done on cutting up the cards!! :T it's a move I haven't been able to make.

x

Bismarck

failure isn't falling down, it's staying down....

welcome back....

mizmir

As everyone says - you haven't failed as you are back and determined. Clearing debt is a hard thing to do - and most of us slip back once or twice before we finally make it. I certainly have - only just got back on the wagon with this last month but am now really pushing towards a debt free date.

Posting here is good - regularly - join challenges - work out a realistic programme that allows you some enjoyment in life but which makes an impact on your debt.
Budget for what you want. Make the whole thing a personal challenge.

Post your SOA again so we can see if we can help you streamline that budget.

Pigeongirl

Hello matey! I'm in the same boat as you, have returned with my tail between my legs! My DH and I took out an £8,000 loan to consolidate and have since then racked up another £2,500 on overdrafts and credit card

It's gutting but look at it this way: it could be worse and you're trying again now so feel good for that. Berating yourself won't make the debt go away!

Good luck and don't give up! Apart from the fags - give them up

Bobbino

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 500
Random Theatre Work .................... 100
Total Monthly Income ................... 600

Monthly Expense Details
Rent.................................... 250
Mobile phone............................ 35
Total monthly expenses.................. 285[/b]

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
GE Money (CC)..................4170.18...125.......12.9
Mint (CC)......................8.5.......0.........14.9
Vodafone.......................182.66....0.........0
Orange.........................200.......0.........0
3..............................59........0.........0
Parents........................4750......250.......0
Total unsecured debts..........9370.34...375.......-

Monthly Budget Summary
Total monthly income.................... 600
Expenses (including secured debts)....... 285
Available for debt repayments........... 315
Monthly UNsecured debt repayments....... 375
Surplus(deficit if negative)............ -60

Personal Balance Sheet Summary
Total Unsecured debt.................... -9,370.34
Personal net worth...................... -9,370.34

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

So there is an SOA

Also I have two other things i regulary spent money on...

Smokes: £50/mo (I started smoking rollies again ages ago to save money)
Pet Food: ~£50/mo

Will explain the Debts...

GE Money is my big credit card debt, I owe somewhere around £300 in arrears on the account.
Mint is practically cleared, but the number is so small, i guess i just keep forgetting/ignoring it.
Vodafone, I still haven't finished paying they have passed the debt to a company call Moorcroft Debt Recovery Limited, who are threatening a local representative calling at my house. Though this letter they sent 3 weeks ago, and they haven't been yet, they also phone almost daily.
Orange, I've not managed to pay this in so long, the arrears and charges have gone up alot.
3, This contract is finished now, i just need to pay the arrears.
And Parents, I borrowed this money to pay everything off, Payed off the big debts, and managed to make one payment to them back, That was in december, haven't been able to pay them since, and they're not happy.

Rent agreement with my parents is £250 a month, though I've not payed in a long time.

Any questions do ask, and I'll do my best to answer, but honestly, I've been ignoring my debt so long, I'm not really sure about it myself. Infact today is the first time in a while I've even added it up and looked at the letters.

poppyg_2

Welcome back and good luck, I think we've all done the same as you, I know I certainly did but like you I'm finally determined to succeed