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Debt management plan story

2 replies

Megsmcgoo · 03/02/2018 18:20

I hope you don’t mind me posting this but I only have one more year left of payments on my DMP and I couldn’t be happier.

6 years ago I was 23, in £26,000 worth of debt through a graduate loan, payday loans, credit cards and student overdrafts. I couldn’t see an end to it and seriously thought about suicide a number of times. It all spiralled out of control after I had finished uni, living way beyond my means and i was in the middle of some serious on going mental health issues. I couldn’t talk to anyone in real life about it and I eventually got in contact with Step change after months of denial and fear

I can honestly say it changed my life, the relief I felt having someone to talk to and also help me was unbelievable, I have been making regular monthly repayments for the last 6 years and the end is now in sight! I’m going to try my hardest to pay it off sooner now I have a better paid job and can afford to, it’s about £4,500 Smile

I really needed to share this so I hope you don’t mind, no one in real life knows about this as I have never felt comfortable talking about money or sharing my problems and it feels so good to be able to write this

I hope that if anyone else reads this and has serious money problem it’s gives them a bit of comfort in what’s such a horrible time

OP posts:
TalkinPeace · 04/02/2018 16:40

Pop your story into the Debt Free in 2018 thread - it will cheer other folks up

RBW18 · 11/05/2018 14:05

Well done :)

My husband started his DMP last month and is 14k in debt. I've said to him if he keeps repayments up I will match his payments in January so it will be reduced quicker. His debt is my debt when it comes to credit ratings so this benefits me also to get out of debt ASAP

We went with PayPlan and was slightly sceptical after reading reviews on Trustpilot however they have been amazing, he has a app so can keep an eye on his payments, make additional payments if he has a really good month at work etc I have a spread sheet on my computer at work and every month he pays I will block out with yellow and slowly watch the yellow take over and the balance go down.

I've never been so proud of him getting his head out the sand and dealing with it head on.

Here's to being debt free soon (grin)

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