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    • notmy1sttime
    • By notmy1sttime 13th Oct 18, 9:39 AM
    • 18Posts
    • 79Thanks
    Did it - debt free at last but watching the pennies
    • #1
    • 13th Oct 18, 9:39 AM
    Did it - debt free at last but watching the pennies 13th Oct 18 at 9:39 AM
    Just posting to say I am finally debt free. I had a business asset I sold and used the money to pay off my debt, I made full and final offers on all my debts and most creditors accepted reduced lump sums in settlements, some as much as 78% below!
    At my worst, debt was around 25,000, I wasn't making any sort of payment for the last 2 years and prior to that, I had severe health issues which is in hindsight the cause of the debt.
    I have had sleepless nights, depression so bad I couldn't see a way out but I just want to say to everyone that if you are struggling, keep going as there will be a brighter day.
    I am now focusing on building my business, keeping an emergency fund for both myself and my business expenses, investing and never getting into bad debt again.
    I feel I need somewhere to keep me on track, so I will be posting to this diary to record progress.
    My top tips are:
    - do not ignore debts, they won't go away
    - talk to creditors - they are just humans doing a job at the end of the day
    - if you have mental health problems then please speak out and get help
Page 1
    • SnuggleBuggles
    • By SnuggleBuggles 13th Oct 18, 10:04 AM
    • 13 Posts
    • 31 Thanks
    • #2
    • 13th Oct 18, 10:04 AM
    • #2
    • 13th Oct 18, 10:04 AM
    Congratulations! You can breathe easily again. The relief must be immense x
    • notmy1sttime
    • By notmy1sttime 14th Oct 18, 12:11 AM
    • 18 Posts
    • 79 Thanks
    • #3
    • 14th Oct 18, 12:11 AM
    • #3
    • 14th Oct 18, 12:11 AM
    Yes, it feels good knowing in future all my money is mine. I will put a post on about my F&F's and also a post on my SOA. I am planning a day where I go through my bank statements and cancel what isn't needed, negotiate better deals etc as haven't done that for about a year.
    • Debtnomoreplease
    • By Debtnomoreplease 14th Oct 18, 10:58 AM
    • 153 Posts
    • 361 Thanks
    • #4
    • 14th Oct 18, 10:58 AM
    • #4
    • 14th Oct 18, 10:58 AM
    Huge congratulations-you most feel amazing!!! Great achievement, what a great start you'll have to 2019 with no debt!
    • beanielou
    • By beanielou 14th Oct 18, 11:59 AM
    • 57,478 Posts
    • 235,463 Thanks
    • #5
    • 14th Oct 18, 11:59 AM
    • #5
    • 14th Oct 18, 11:59 AM
    Well done you
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
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