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    • vintagegirl
    • By vintagegirl 9th Oct 10, 12:25 AM
    • 739Posts
    • 290Thanks
    what gave you your lightbulb moment
    • #1
    • 9th Oct 10, 12:25 AM
    what gave you your lightbulb moment 9th Oct 10 at 12:25 AM
    just wondered, whats happened to make you think, enough is enough, i need to get out of this situation.

    mine was when i had arrears on scottish power and didnt know what to do. i came home one day and they had yellow tape over the door as they had forced their way in while i was work and i came home with my son to find they had changed my locks.
    spent 3 hours wandering round asda in tears as it was pouring, bought my son a 79p sandwich while we sat there waiting for them to come back down to give us the new keys

    absolutely horrific, i swear i will never be in that stupid situation again.

    This Forum tip was included in's weekly email!
    Last edited by MSE Andrea; 18-12-2015 at 11:30 AM.
Page 1
    • BigCraigJohn
    • By BigCraigJohn 9th Oct 10, 12:50 AM
    • 1,063 Posts
    • 794 Thanks
    • #2
    • 9th Oct 10, 12:50 AM
    • #2
    • 9th Oct 10, 12:50 AM
    It was being 29 living with my mum and dad due to not being able to afford to move out, running my own business and making a good profit, getting to a point where I sold my treasured vinyl collection and was having to sell business stock at less than cost so I could afford to pay creditors. I was paying £700+ a month towards debts with no move in balance. I realised something had to be done.

    For the record this was Jan of this year and ive just moved into my own rented flat. Nice of my creditors on 50% of my debts to have an unenforceable agreement and another 30% of them to have no agreement whatsoever and the rest i'm dealing with.
    Best thing I ever did was stumbling across Nids thread on here, life is great and i'm looking forward.
    Some dont agree with unenforceability but thats there choice, ive got no issues.

    Last edited by BigCraigJohn; 09-10-2010 at 12:54 AM.
    • newmum1
    • By newmum1 9th Oct 10, 1:06 AM
    • 1,296 Posts
    • 5,629 Thanks
    • #3
    • 9th Oct 10, 1:06 AM
    • #3
    • 9th Oct 10, 1:06 AM
    Hi guys for me it was simply a case of i had a overdraft of about £2000 from my student days i had taken out a graduate loan to pay it off along with other smaller debts and then just ran up debt again it really was like a viscious circle i did this about 2 or 3 times and eventually i knew i had to do something.And that was when martin came into my life.. and I found this site and since 2005 ive cleared a loan and 2 store cards I still have a way to go but i'm on the right path now and hopefully all been well within a year I should be debt free. And the one promise I have made myself is when my debt free day comes i will never ever get into debt again as ive now learnt that if i aint got the hard cash then i cant have it as I cant afford it. As you can see from my sig my largest loan was over £11500 and I have no idea what it was spent on cos I sure dont have anything to show for it.
    Current Debts :
    Car £2935.90
    Student Loan £3850.00
  • isy1011
    • #4
    • 9th Oct 10, 4:02 AM
    • #4
    • 9th Oct 10, 4:02 AM
    I was meeting my friends. We were going to meet at someones house and have a drink and few snacks.

    I coudnt afford the bottle of wine to take round!

    My bank OD was maxed out. I didnt know what my cc balances were because I had stopped opening the letters!

    I felt ashamed.
    Egg April 10 £6600 Jan £4678 now £0
    Santander Jan £3414 April £3338
    Virgin April£2643 Aug £3155 April £7109
    Barclaycard Oct £1476 April £1287
    So far paid off 17% of c.c. debt
    • determined new ms
    • By determined new ms 9th Oct 10, 7:32 AM
    • 7,042 Posts
    • 41,551 Thanks
    determined new ms
    • #5
    • 9th Oct 10, 7:32 AM
    • #5
    • 9th Oct 10, 7:32 AM
    Not sure really about my LB moment as it happened several years ago and although I was trying to pay it off, I wasn't being serious about it as I was still running up the balance on my ccs. My grandmother died beginning of last year & the £5000 I received I paid off the majority of my debt in March 2009, but again still continued to spend on my ccs, racked up 2 ods. Then on Dec 17th 09 I wrote my car off and needed another one FQ as I work 20 miles away and both my house & my work are far too far from the train station to use public transport, so in haste I brought a car (much to my regret now!) and put an additional £2100 on my cc on 23rd Dec. New year's day myself, oh, a friend & her oh were sitting in my lounge making our New Year's resolutions & I realised I was as much in debt as I was in March 09 (£6500, and my oh £4500) - depressing my inheritance was for nothing! Right them & there I made the decision to sort it out once & for all this year. Yesterday my oh paid his last debt payment and I'm 1 payday away from freedom
    DF as at 30/12/16
    Wombling 2017 £3016.55/Roadkill £8.73
    Wombling 2018 £145.73/RK £0.04
    • La escocesa
    • By La escocesa 9th Oct 10, 7:42 AM
    • 2,934 Posts
    • 18,576 Thanks
    La escocesa
    • #6
    • 9th Oct 10, 7:42 AM
    • #6
    • 9th Oct 10, 7:42 AM
    Last year (Sept 09) I thought I had about £2k on a credit card and my car insurance was due. At first I thought to put it on the credit card and pay it off later (as with everything else). Then I realised that the £2k credit card was actually my 'household spending' credit card, which I'd used to buy all my household appliances etc and was paying off only min payments cos it was 0% so surely that was ok , and that I had another 'spending' credit card, which I paid off in full every month, and another credit card with a balance transfer paying off at £200pm so thought I was doing well!! Then I added it all up, added on my £1k overdraft and realised that my £2k credit card was actually a big fat debt of over £5k.

    Getting rid of my car after that was really the first big thing I did and the start of it all. Phew! Just as well it didn't take me any longer to realise!
    • d3mon4ngel
    • By d3mon4ngel 9th Oct 10, 9:24 AM
    • 366 Posts
    • 1,128 Thanks
    • #7
    • 9th Oct 10, 9:24 AM
    • #7
    • 9th Oct 10, 9:24 AM
    I'm not in a lot of debt compared to some on here, and I wasn't doing bad until Feb this year when I was made redundant. I was out of work for 2 months, on only JSA and no help with paying my mortgage as I'm not over 60 and don't have a kid

    I started my new job at the end of April, but still had to wait until the end of May to be paid. I had to have a credit check done as part of my induction, and was shocked to find that I had a CCJ from 2007 that I knew nothing about! This, along with hitting my OD limit that month, was my Light Bulb Moment. I decided I needed to get a handle on my finances and once I am out of my OD this time, I'm never planning on visiting there again

    PS: Since May, I've done some complaining, and the CCJ is currently in the process of being set aside as an error
    Last edited by d3mon4ngel; 09-10-2010 at 9:27 AM.
    ::: Total Paid Since LBM (27/05/10): £4639.85 Official Debt Gone!! :::
    That money talks, I don't deny, I heard it once, it said "Goodbye"
    ~ VSP2011: #104 ~
    • Oompa Loompa
    • By Oompa Loompa 9th Oct 10, 10:40 AM
    • 259 Posts
    • 959 Thanks
    Oompa Loompa
    • #8
    • 9th Oct 10, 10:40 AM
    • #8
    • 9th Oct 10, 10:40 AM
    Mine is like a few of you have said above - I had a sort of LB moment a couple of years ago, but lost my way a bit! Debt started from when I was a student and continued to snowball. This year was a huge year - 3 weddings of close friends and 2 hen weekends in April - both away from where I live. And boy, do hen weekends cost a bomb!! Then there are the outfits and presents to consider. Of course, to be a "good friend", you "have to" go to their hen weekend and do everything else that goes along with wedding preparations. I couldn't afford bills or council tax and for the past few months, couldn't afford to do anything at all with my friends like go to the pub for a few birthday drinks with one! Getting halfway through the month and having no money for bus fares or food, then having to ask family to bail me out - that made me feel pretty low too. There were several weeks of it all getting me really down. I knew I couldn't go on like that, felt really rubbish about it all. I always had decent places to rent and decided this was an area I could sort out. Moved into a TINY room and cut some rent and council tax. But I now realise how much stress being in debt causes you and how down it makes you feel and I don't want that anymore. This time I'm going to do it!
  • niccatw
    • #9
    • 9th Oct 10, 11:09 AM
    • #9
    • 9th Oct 10, 11:09 AM
    I've had a few!

    The first was just after I bought my house and I realised that, despite having thought I'd done my sums, it only takes a few things going up in price for things to become scarily tight.

    The second was not having enough money to put diesel in the car even though I work in the community and need to the car for work.

    The third was a date error in money going into the bank that set me into a charges loop.

    The fourth was being off work with depression for 6 months. And realising that the stress of the money side of things was definitely (though ne on it's own) impcating on my life.

    I expect I'll have periods of falling of the wagon in the future, but now I know to pick myself up and jump back to it. And I know there's lots of people here to support me through those periods too!
    Jan10: 28,315.81 Jan11: 18,015.32 Jan12: 7,682.58 Jan13: 2,987.73 Current debt: 1,225.55
    HFC 1896.10. 225.55 SLC2 5123.34 0 Others 2085 1000 Bcard 1172.60 0

    Mike's Mob

    • carrielovesfanta
    • By carrielovesfanta 9th Oct 10, 11:27 AM
    • 1,820 Posts
    • 14,136 Thanks
    Just after our wedding (May this year) I realised that I was spending more on my debts than I would probably spend on junk if the money was sitting in my account. Then my work moved and I had to walk past the estate agent's every day. I thought that it would be nice if instead of forking out about £350 a month to cc's, wouldn't it be nice to save for a house!!
    LBM 11/06/2010: DFD 30/04/2013
    Total repaid: £10,490.31

    SAVINGS: £10,000!
  • SemaJBrown
    My light bulb moment was January this year when I asked my parents for £9,000 to consolidate my debt or take a loan from the bank.
    I felt horrible asking... but we sat down worked out what I had spent it on etc and the fact i had nothing to show for it and that it was time for change.
    Although my parents were happy for me just to pay them bit by bit and not make any changes to my lifestyle I sold my nice car and paid off £4000 i have an amazing girlfriend who drives and ive also noticed the difference in my own fitness as I walk nearly everywhere else i need to go. I work as a tempory worker in the city and paid by the hour so any extra hours available I took them.
    I have currently saved another £2,700 which is in an ISA so only £1,300 to go and my plan is that I will be utterly debt free by Christmas
    • foxgloves
    • By foxgloves 10th Oct 10, 3:55 PM
    • 4,399 Posts
    • 23,478 Thanks
    About 3 years ago or so. We were both frivolous spenders & no history of saving, just borrowing. LBM came when I added up every monthly payment we were making into paying off debts & just thinking what a total waste of our income this was. Only one winner really, from our previous lifestyle & that was the bankers. That wasn't a good feeling. Even paying for something essential like a car repair bill would have been slapped straight onto credit as we never had any money at all put by for emergencies. As soon as my debts were paid off, I started paying a bit of money into an emergency fund. Then we tackled partner's debts.....just the last bit of that still to go. The feeling when I took my car in for service & repair and I could pay for it myself without putting it on a card was fantastic. I know that might sound a bit tragic, but I think it was what really showed me how important it is just to have a little bit ready to make an unexpected bill payable instead of an additional stress. I know we'll never go back to how we were. Being in control is so much better than having yet more dvds, boots, gadget upgrades, etc. 10 years ago, I wouldn't have thought I'd ever be budgetting properly. There's hope for everyone.
  • Moneytroubles

    For me it was realising that my heart was in my mouth whenever the phone rang or the postman walked down my drive! Also I rang my OH one day and asked him if he had managed to sort something out as we were in arrears with Gas and Electric and Council Tax and had received reminders etc, he was crying down the phone saying he couldn't do it and it was awful! I had never in my life seen him that way, so that day I took over everything to do with money and bit the bullet and rang the companies that we owed money too. After I rang the first company it got easier and easier to ring the rest! Although we have a long way to go, we were only saying yesterday how our quality of life had improved in the past year!

    MSE really saved us xxxx
    6 debts cleared since joining MSE
    Remaining debts... Very / Halifax Loan/ A&L / Virgin cc / Lloyds / Sister
    Getting Married 04.12.10 - The MSE way
    Making this house a home
    • Deep In Debt
    • By Deep In Debt 10th Oct 10, 4:20 PM
    • 8,237 Posts
    • 12,996 Thanks
    Deep In Debt
    Mine was a comibination of things but having all my credit cards and debit card being rejected in Tescos when I did a small weekly shop just made me realise the real mess I was in. I also needed petrol in the car to get me to work but had no money and couldn't afford a rail ticket either. Really brought it home to me that I needed to sort things out and not just carry on living in my little bubble.
    Debt 30k in 2008. Cleared all my debt in 2013 and loving being debt free
    Mortgage free since 2014
    • Buffythedebtslayer
    • By Buffythedebtslayer 10th Oct 10, 4:38 PM
    • 15,337 Posts
    • 51,361 Thanks
    I came here in sept 2007, having taken out a 20,000 loan to "sort myself out". I remember standing in the car park getting the loan agreed and my my poor friend waiting for me to get off the phone. I felt sick, how could they be lending me 20,000 that was mental.

    Any how after an awful summer I found this place, lots happened, I had to dental work done and the car fixed (totalled about 4 grand on the CC). I hated my job and realised that unlike before I couldn't just up and leave how the hell would I pay the loan?

    I did not like that feeling and vowed never stitch myself up like it again.

    This place actually gave me a future without debt and some utterly brilliant friends. I am about 6 months away from being Debtfree. I am so excited about it! And very grateful.

    Last edited by Buffythedebtslayer; 11-10-2010 at 8:09 PM. Reason: spelling mistake!
    Frugal Living Challenge, Pound a Day challenge, Sealed Pot Challenge Debt 4990 (March)
  • SuzytheFloozy
    My lightbulb moment came when I realised that I never went straight into any shops to buy things - I'd always go to the cashpoint first to pull out money so I wouldn't be embarrassed by my card being refused. If I didn't have the money, I wouldn't buy whatever I needed. I also used to ignore my post as I knew I couldn't afford the payments that I was being asked for.

    I'm now paying off my debts in a fairly sensible way - this month I have set up a standing order to clear ~£750 final balance off my most expensive credit card as I received some money that was owed to me by a friend. The money that was going on that credit card each month (between £75 and £100) is now going to be diverted to my Barclaycard which is my next most expensive debt.

    In approx 4-5 months, my MBNA card is clear (currently on 0%), so the £46 payment from that will also go towards my Barclaycard.

    That will mean that in approx 10 months or so, that card will also be paid off - then the money will go towards overpayments on my car loan (due to finish in March 2012), which will pay that off that much more quickly...then it's just my student loan to finish paying off!

    Phew, think that's the first time I've actually worked out roughly when my debts will be's a nice feeling! Next step...putting money towards a house...and more debt lol!
    • determined new ms
    • By determined new ms 11th Oct 10, 6:53 PM
    • 7,042 Posts
    • 41,551 Thanks
    determined new ms
    This is a lovely thread, nice to see so many successes. The road ahead may be long, & not paved with gold as we were lead to believe, but its our road afterall! x
    DF as at 30/12/16
    Wombling 2017 £3016.55/Roadkill £8.73
    Wombling 2018 £145.73/RK £0.04
    • JES_F1
    • By JES_F1 11th Oct 10, 8:08 PM
    • 671 Posts
    • 1,425 Thanks
    My lightbulb moment was realising that I'd pretty much maxed out my credit cards, which I was relying on to get me through the rest of the month. Direct debits were bouncing, which led to charges, etc.

    If I'm honest, I'd known things were going a bit pearshaped for quite a long time but choose to ignore it.

    I've never liked shopping but I could spend stacks of cash on takeaway coffees (about £50 a month!), going on holiday/weekend breaks, and eating out.

    I've been on my DMP with the CCCS for over two and a half years now. It's going really well - and though things are tight, I'm actually better off now than I was at the time of my LBM. I love seeing money in my bank account!

    Despite going well, I did recently get fed up with the whole 'being in debt' thing but am now back to feeling far more positive again!

    I'm looking forward to being debt free. I know I'll be able to enjoy a really good life without the need for credit.
    Debt Jan 2008: £45,566. *** June 2013: DEBT FREE! ***
    Paid back just under £50,000 due to some interest added.

    Dealt with my debt through a Step Change
    (CCCS) DMP.
    DMP Mutual Support Thread Member #240.
  • londongirl1984
    my lbm came for real a couple of weeks ago, when i had no money or anything despite only just being paid. it was a freezing cold day, and i was wearing summer clothes for work because i didnt have anything for winter. my feet were wet from walking between two offices because i had a hole in my shoe, and my boss was leaving and had invited us out to lunch as his last lunch. i had to dream up an excuse to go, saying i wasnt really hungry although i was starving, and when i got home and vented on my OH, annoyed that in January although i was still in debt, we could actually afford to live. we'd just moved in together in January, and now we were literally spending every night in front of the telly with no money. it annoyed me that my treat was buying myself a book every couple of months. i'm not into shopping either, but i couldnt believe that i was 26, earning just over £34k and couldnt afford to replace my shoes. we sat down together and went through my budget planner which i used each month but couldnt stick to. i was on a dmp but they charged me every month for doing diddly squat and missing payments, and i realised i'd taken next to nothing off my debts despite being with them for 3 years.

    i've since cancelled my dmp and have set up an account just for my debts which a standing order will go into, and i've already vowed to myself that i'll give the card to my OH to keep safe, since i need the card number for one of the monthly repayments, otherwise i'd just cut it up.

    I've also re-hashed my budget planner to show the totals of what i owe and how much they'll go down each month. it will take a long time, but i'll be damned if i ever get into a situation where i cant even pay for a pair of cheap shoes!
    Savings Fund - £0 | Funding Corporation Feb 2012 £4,121.67 | Provident Feb 2012 £2789.20 | Very Feb 2012 £300| PTP Feb 2012 £515.00 | HSBC Feb 2012 £1044
  • Regretsmess
    Mine was having a fancy holiday, getting home and adding up the credit cards and Next Directory and realising that we owed £11.5k. £2k of the holiday had been paid for on cards
    It made me feel sick and ashamed, luckily we are in a very fortunate position to be able to pay this all off by the end of next year at the latest.
    We hardly save any money despite both of us having well paid jobs, the attitude was stick it on a credit card and pay it off later.
    Not anymore, I have cut up my cards and are now debt busting, I had a clothes shopping day at the weekend and had saved up for it and the thrill of paying cash for everything far outweighed handing over my piece of plastic and then dreading the bill at the end of the month. I even went home when I had spent all my money.
    I never want to feel the way I felt when I added up the balances ever again.
    I am going to clear these balances and work on saving more and reducing the mortgage.
    Thanks for reading and good luck debt busting xx
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