Payplan I'm almost done! Debt free in 2014

(14 Posts)
caketinrosie Sun 03-Nov-13 12:32:04

About 5 years ago my DH and I managed to splurge ourselves into 40000.00 worth of debt. We spent stupid amounts on our kids and ourselves, had foreign holidays we didn't need bought items for the house that were unnecessary and threw more food away than we ate. (Hangs head in shame!) then one day we woke up and realised the mess we were in. We contacted payplan and they took over our financial life. The first year was horrendous and I wasn't sure how we were going to manage. Payplan took 900.00 a month from us to pay our creditors. A couple of creditors placed defaults on our credit file, but as I was financially screwed anyway, that was fine. I paid no fees to payplan. I lived literally hand to mouth and some days I could barely get out of bed. But time flies, and after the first year we became used to it, the second and third year continued with our debt reducing and reducing. Now four and a half years later, I am 3 months approximately from paying off my debts. I won't owe anyone a penny. I have sold crap at boot sales, bought my clothes and shoes from charity shops (please donate better stuff!! Ha ha) and now finally I can see the light at the end of the tunnel. I can live on the smallest budget, my marriage has survived and my kids appreciate the smallest things. Debt can be beaten! It's not easy by any means, but it can be done! I am so glad that we picked up the phone and got help. Good luck to anyone out there who is in a similar or worse position, pick up the phone it will be the best thing you ever do. smile

rumpledtitskin Sun 03-Nov-13 12:39:45

Well done Rosie!

So glad to hear it gets easier.

We've been one for 18 months, similar debt and similar monthly payment, but the balance only seems to be going up. Did that happen to you?

puds11isNAUGHTYnotNAICE Sun 03-Nov-13 12:44:50

Well done for taking control and sorting it out. Now just remember to stay out smile

caketinrosie Sun 03-Nov-13 12:50:01

Hi, for the first year I didn't look at the figures it was too depressing! No one froze interest and all we seemed to do is tread water, then suddenly it seemed to begin to reduce slightly then it snowballed as the years went on. We did get to the end of a year thinking that was the last of it only to realise we still owed thousands so had another year added which was a shocker. I started to work out how long I had left as payplan always assume creditors will freeze interest, but they don't. So that helped me feel more in control. Big tip, do car boot sales! I made around 100 quid each weekend selling crap I had stuffed into lofts and the garage. It meant we could eat in that tricky week before payday! I also discovered keycamp for cheap fun hols in lovely parts of the world (I was too much of a snob/idiot before) I'm a complete convert now!! And aldi, will save you tons of cash x

OnePramAndHisSprog Sun 03-Nov-13 12:58:20

You are amazing! Well done.

BrownSauceSandwich Sun 03-Nov-13 17:12:57

Wow, thanks for such an inspirational thread. How do you think your life will change once you're debt free?

caketinrosie Mon 04-Nov-13 00:35:05

Hi brownsaucesandwich, thanks! I have just got back from work hence long delay replying! How is my life going to change? I'm going to start living again! My kids will be able to wear better clothes, my husband can have more than ten quid in his wallet and I'm going to be able to get through a month without running out of money!! I don't see any major changes, life will just stop being a struggle. Roll on 2014, wish me luck! smile

Mum2Fergus Mon 04-Nov-13 08:33:06

Lovely thread Rosie, well done you and all the family grin

Doublemuvver Mon 04-Nov-13 08:36:57

We'll done, I used PayPlan too, they were amazing. It's a great feeling when you've paid of all your debts and it definitely made me more sensible with money. All the very best to you and your family

Amazing. Well done op! I've been there too and I salute You!

CremeEggThief Tue 05-Nov-13 19:58:01

Inspiring, positive thread. Congratulations! wine

dementedma Wed 06-Nov-13 22:01:52

We were six years with Payplan. Six long long long years. Made the last payment in May this year! It can be done and feels so good not to have credit card debt. Ours wasn't run up on fancy holidays, mores the pity. Just on trying to survive and pay the bills. So here we are,pushing 50, no savings and a time two bed flat for five of us bit debt free bar the mortgage.
Payplan are wonderful. They gave us our lives back.

dementedma Wed 06-Nov-13 22:02:25

Tiny, not time

ThePinkOcelot Mon 11-Nov-13 21:42:31

Well done, congratulations.

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