Defaulted and terrified -

[Kappi]

Ive been stupid and defaulted on a card.

I had some miscarriages and everything got on top of me. Spent more than I had really. I thought I had more time but I put my head in the sand - I’m ready to face what I’ve got myself into and can pay back what I owe on this card in under 6 months.

Ive kept up all my other payments on credit but I’m freaking out that I’ve ruined everything. I’ve made a plan and will be debt free in under a year with some hard budgeting and basically sorting my spending out.

I just need someone to tell me I’m not the only one who’s made a mistake - I feel really stupid and lonely about it all.

anyone else out there been in this boat?

Yep me.
A few years ago I was stupid with my credit card, overspent and defaulted. I contacted them and set up a payment plan and it's now paid off. Don't beat yourself up about it, you're taking steps to fix it and that's what matters

Thank you for responding - it means a lot you to taking the time to write.

Im going to call them and hope I they will accept a payment plan with me. Awful waking up in the night with this sinking feeling. Lesson learned! X

MN is full of stories like yours. Agree a repayment plan and make a budget to stop overspending.

I’m three months away from clearing all my debts and defaults. My credit rating is now ‘excellent’ having been ‘poor’ following a difficult divorce.
I found holding my hands up, asking for help and making a plan the best thing I ever did.
You can do this.. they will work with you if you work with them

Look forward not back Op
You cannot no matter how much you berate yourself ,change the past.
Take positive action, understand why and how this happened and make those positive changes
I'm really sorry for your losses

Were you not paying at least the minimum interest payment? I know with my credit card it takes that out of my account and then I overpay as and when I want. At least way it doesn't show on credit checks etc. Is that not the case with your card?

But as others have said, I think as long as you speak to them and confront with a payment plan that's all you can do, You definitely aren't the first and you won't be the last.

Well done for making moves to resolve your debt problem and I'm so sorry for the sad circumstances that led to your problems.

I got myself in a huge muddle with credit cards and borrowing some years ago.
It took me 2.5 years of hard budgeting to pay off my debts but unfortunately my default stayed on my credit rating for 6 years even after all my debt was fully paid off.
Have your card company definitely defaulted you or have you just missed payment/payments?
It is worth checking as a recorded default will definitely have a detrimental effect on your credit rating whereas missed payments and future agreement to pay less so.

@BulldogMumma @LIZS @Potentialmadcatlady @VoteDappy thank you guys, I feel like just hearing I’m not the only one in the world has really helped.

I know what I’ve done and I do hold my hands up. I won’t let it happen again! I do genuinely want to learn new habits for managing money.

I’m going to pick myself up and look forwards. Thank you for taking the time to comment - I do really value it.

@Badburyrings @Jackreacherstrousers
Hi guys, unfortunately not - I didn’t have it set up on direct debit- and that’s the first of my mistakes. Unfortunately yes it’s defaulted. It was this that shook me into realization of what I’d done. I thought I could try and work something out but I was scared to face it. Then it forced my hand Really.

Lesson learned I guess!

Thatta girl.. you can do this and take pride in yourself when you do.

Thank you - feel motivated just from your kindness!