11 years a slave - end of my journey from £103,500 in debt
Comments
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Congratulations. I can understand your feeling because I am at that same point now and will have all my debts cleared tomorrow. Not as much as yours has been, but still just over £40k.
The biggest advice I can give anyone is to swallow your pride and contact your creditors. I left that way too long and when I finally did it they were much more understanding and willing to reach agreements than I ever imagined. To you it's personal, but to your creditors it's just business and they want to find a way for you to pay back what you owe in an affordable way.0 -
I saw this post when you posted it and can’t rememe if I replied but I just want to say how inspiring you are,I have been feeling very overwhelmed by the money I owe but the combination of coming on this site and seeing posts like this have made me see there is a way out, whe im feeling despondent I will come back and read this to keep me going,well done to you 😊Original Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90
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Don’t be overwhelmed OBL...youre taking the first steps to emptying that lake Best of luck xxMFiT-T4 Member No. 96 - 2022 is my MF goal
Winter 17/18 Savings Rate Goal: 25% [October 30%] :T
Declutter 60 items before 31.03.18 9/60 ** LSDs Target 10 for March 03/10 **AFDs 10/15 ** Sales/TCB Target 2018 £25/£500 NSDs Target 10 for March 02/10 Trying to be a Frugalista:rotfl::T0 -
brizzledfw wrote: »Don’t be overwhelmed OBL...youre taking the first steps to emptying that lake Best of luck xxOriginal Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90
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Congratulations. I can understand your feeling because I am at that same point now and will have all my debts cleared tomorrow. Not as much as yours has been, but still just over £40k.
The biggest advice I can give anyone is to swallow your pride and contact your creditors. I left that way too long and when I finally did it they were much more understanding and willing to reach agreements than I ever imagined. To you it's personal, but to your creditors it's just business and they want to find a way for you to pay back what you owe in an affordable way.Original Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90 -
What a fantastic post, have been a long time lurker on here and have finally started to do something about my debt after reading your post a couple of weeks ago. Best wishes to you for a debt free future0
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A victory! Congrats.0
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A truly inspiring story. Thanks for sharing it! It teaches a lot of lessons on how to overcome money challenges amidst seemingly overwhelming odds.0
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Onebrokelady wrote: »I just read your post and love the bit where you say “to you it’s personal but to your creditors it’s just business,I’ve been walking round for weeks thinking about this from my personal viewpoint and not thinking about the fact that my creditors are a massive organisation,I feel like I owe my best mate money and have let them down,it’s crazy and although I know I’m in the wrong and have to take responsibility for the money I owe it’s not personal at all and I will pay it back
These feelings are very common amongst first time defaulters.
Its all very confusing at first, with lots of stuff to get your head around, we don`t seem to talk about debt much in this country, its all hush hush, that`s one of the reasons people don`t know what to expect when they can`t pay their debts.
You see there are systems in place to help you deal with these things, and the companies you owe money to, always build into their business model, the fact that a certain % of customers will default on there payments, so they plan for these things, they don`t lose out, what they don`t make off you, they make off someone else.
Its all profit and loss to them.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »These feelings are very common amongst first time defaulters.
Its all very confusing at first, with lots of stuff to get your head around, we don`t seem to talk about debt much in this country, its all hush hush, that`s one of the reasons people don`t know what to expect when they can`t pay their debts.
You see there are systems in place to help you deal with these things, and the companies you owe money to, always build into their business model, the fact that a certain % of customers will default on there payments, so they plan for these things, they don`t lose out, what they don`t make off you, they make off someone else.
Its all profit and loss to them.Original Debt Owed Jan 18 = £17,630 Paid To Date = £6,080.1 Owed = £11,549.90
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