Credit...

Well for anyone that's read all my blogs, you'll know that I am on a DMP. I have to say I spend a fair bit of my spare time nowadays checking my bank balance, doing spreadsheets trying to balance everything & reading & soaking up info on MSE (great site for all sorts of reasons- check it out).

And after reading a post on there over the last week (was a long post) it made me realise that all sorts of people get into debt, some people consider £1,000 a debt, to others it's £500,000. To me £1k was me doing ok, and not that far into my main overdraft. Debt is relative to situation, income & outgoings...i didn't really believe this unti i read that post. My personal debt was accrued whilst DH retrained for his new job, his old self-employed work dried up, I also started uni at the same time. I made a bad investment which added a huge amount to my debt. And we got married & had 2 babies. That is it in a nutshell. We didn't buy flash cars, holidays, clothes (unfortunately, at least then we would have something to show...)

Instead i was paying for a mortgage at the height of the hiked interest rates, because my tenants buggered off and my 'spare' house was empty. I tried to sell, the housing market quite literally crashed the day after!! (this was said bad investment)

We needed cots, prams (all bought ebay or second hand else where or half price in sales) clothes were from primark or tesco...yet we still added to the debts! Interest rates are crippling, that much I know.

Our wedding, i borrowed a dress, hired a cheap leisure centre room, had lovely friends do it up on the cheap, and did the food myself with mum & friends. Was tiring, but it only cost £500. However, when I am out of the DMP i would love to do it again, properly. Preferably abroad, so I know I will get my honeymoon too (didn't get that as we moved and were broke!) lol

Our move we hired a smallish van and drove from london-wales-new home ourselves to move everything was very tiring but much cheaper than paying someone. Being poor is no fun!

Finding out about the CCCS was our lightbulb moment as some call it, I realised that for 2 years I had been robbing peter to pay paul and we were still no closer to paying anything off (frigging interest rates again). In fact because I was using all spare money meeting minimum payments we then had to buy essentials such as food shop, birthday pressies (okay not essential but...) petrol etc...and this is always a bad idea (so i've been told)...

I have completely trashed my credit score now. BUT I kind of did it on purpose, I knew going on the DMP would do this, and i kind of wanted to trash it. Creditors were literally throwing money at me for some reason, tempting me further into debt. I had no job since quitting just before uni, now had 3 kids instead of one and DH was on low income whilst retraining in the army. Yet i had a nearly 5k overdraft, 10k on credit cards, 115k mortgage, 4k on loans and this is just me....DH had an overdraft & credit cards too. I know for sure after this is all over I will never willingly take out a loan, credit card, just because it is offered...! Obviously i doubt anyone will offer me anything for a good decade yet lol

I have since done research on it and found soooooo (cant emphasise this enough) many people in the same situation. No wonder the country is in recession, we all live on credit, companies, people, you name it...

"A recent report has suggested that there are now many people in the UK who are hiding their debt problems, with many of them struggling to make ends meet financially and hiding their debt issues from their families and loved ones. It is thought that around one in three people could be hiding problems relating to their debt levels and struggling as a result of their debts.
According to the report the value of this so called hidden debt mountain could be an astonishing £55 billion, adding to the already huge level of personal debt that consumers in the UK have overall. The average personal debt in the UK is now said to be just under £10,000." (glitec.co.uk)

I'm sure that some people reading this are in debt, although manageable so not considered debt to them. I urge you if you are, not to over extend yourself. one or two tough months could see you where I am now.

Also found this...which made me laugh because it seems men always want to wear the trousers, be in charge of money etc, yet in reality who is in the house most of the time, knows the bills & dd's inside out and knows how much a loaf of bread is....women!!

"Recent research from a leading Australian bank has found that almost half of all couples row over money. And as more women take control of their household finances, arguments about money are on the increase." (creditcards.com)

At least seeing things like this makes me realise that i'm not alone in trying to take over the money situation ;) lol...might have to show hubby this one...

Anyways I hope you found it interesting, and please feel free to comment, would love to know people are out there :) and perhaps know i'm not the only one that hate credit card companies :D (haha)