I will get this debt gone!

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Debtfreewhile23
Debtfreewhile23 Posts: 5 Forumite
in Debt-free wannabe
So where to start.....

I’m basically wanting to motivate myself to get out of debt and like my name suggests be debt free while 23! (Although this doesn’t include a mortgage/car finance)

I’m currently 22 and work full time as a mortgage Consultant for a high street bank however that hasn’t stopped me from becoming neck deep in debt :( it all started as soon as I turned 18

My mum and dad have both been declared bankrupt and had their house repossessed about a year ago but ever since I turned 18 I have let them use my credit cards/catalogue accounts/personal loans and I’ve now decided it’s time to get rid of it all! They have been paying me back but I have then added to the debt and between myself and my partner we currently have around 21k of unsecured debt! We are fortunate enough to still live at home with my partners parents and earn good incomes - I just need the motivation of this site to keep me going in the long run!

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  • zippygeorgeandben
    zippygeorgeandben Posts: 1,273 Forumite
    Name Dropper First Anniversary First Post Debt-free and Proud!
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    People will ask you to do complete a statement of affairs (SOA) and will be along to offer advice.

    It's also absolutely outrageous that your mum/dad have took advantage of you reaching 18 years of age and basically using your name to get themselves stuff they can't bloody afford. They messed up their financial lives and seem intent to do it to you.
    Listen, we'll all help you here but you must not give in to your parents anymore.
    Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS
  • Debtfreewhile23
    Debtfreewhile23 Posts: 5 Forumite
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    It!!!8217;s very true - I can!!!8217;t deny how they have taken advantage but I guess I was always worried about my younger sister going without!

    I will not give into them anymore, the next 18 months are about me sorting my life out!
  • ElleWoods
    ElleWoods Posts: 421 Forumite
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    How old is your younger sister? Might be worth a chat with her to make sure they don't do/aren't doing the same thing to her too.
  • Debtfreewhile23
    Debtfreewhile23 Posts: 5 Forumite
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    My sister has just turned 17 and I have warned her to make sure the same thing doesn!!!8217;t happen again! Luckily she is planning on going to university so hopefully it won!!!8217;t even be an option.
  • Debtfreewhile23
    Debtfreewhile23 Posts: 5 Forumite
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    Okay so today has been an okay day - been to the gym this morning, full day at work, only spent £3 and that was on a drink and some breakfast for work but took my own dinner to save money. Then got persuaded to go for a Carvery for my tea which cost 20 for both of us but this was to celebrate my best friend getting a promotion!
  • Debtfreewhile23
    Debtfreewhile23 Posts: 5 Forumite
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    Plan for today - gym didn!!!8217;t happen this morning, the alarm went off at 5 and I just could not do it. Work until 5 then home for tea and an early night as I have been given free tickets to capitals summertime ball for tomorrow so it!!!8217;s gonna be a busy day!
  • blitzboy
    blitzboy Posts: 477 Forumite
    edited 8 June 2018 at 11:15AM
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    How much of the 21k is actually yours? Surely your parents should be paying back whatever they owe, otherwise you're working to fund their lifestyle, which they clearly can't afford.


    Also, if you complete and post an SOA it will help people give you advice on potential savings etc.
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