Published on 12, July, 2020
I’ve got myself into a few grand of debt over the years and I have no emotion to it and think it will just go away. Every time I get a letter or email I just keep ignoring them and can’t understand how I have got myself into this mess!! I’m currently out of work and have no way of paying them back, I just don’t want to have to make the calls to try and sort it! Anyone else like this? Any information would be much appreciated thank you
Ohh No not the dreaded excel spreadsheet! I think those are some thing that you either get on with or don't. As others have said get in touch with CAB for debt advice. When you're out and about or mooching about online, and see something that takes your fancy ask yourself if you like the company of that thing more than you like the company of your money? I do this and it's amazing how quickly I forget about what I've fancied buying. Maybe do that and every week put the money you've "saved" in an ISA or something so as you can see how much you've got and feel proud of it, get attached to that figure rather than stuff. Is there anything you can sell? Do you know how you got yourself into the position of owing so much?
Learn to use an Excel spreadsheet, and tally up what you spend, and earn, each week. If not, then pen, paper and calculator.
Also, cut up all Credit Cards, and cancel all lines of credit.
The major money trap is the home. Mortgage based economies jack up prices, and devalue the currency.
Also, are you urban or rural? If the former, you can manage without a car.
Also, cut out irrelevant expenses. I'm cooking more often, to reduce the amount of times I eat out. Although I don't do it all the time, I am more conscious.
Not many people have tried both approaches, facing up to your debt or running away from it, and less will admit to having done both.
I'm actually advising you to get some proper citizens advice and come from an angle of "you want to pay your debt off, but don't know how to do it".
You'll find out that you have do do a load of stuff just to stop them adding money on, if it works the way it has for me in the past.
It's a horrible, humiliating drawn out PITA getting straight again financially, no matter how good natured you are, that's why I tried method 2 (and TBF there was an element of impossibility which was not of my doing about the situation that I found myself in).
Method 2 (running away) or declaring bankrupcy (not so bad, and more easy to accomplish) will mean you can never borrow money again at interest unless you go the whole way and embark on a liife of fraud, which I draw the line at myself).
You also can never ever give your name and address for a nectar card or pretty much anything that is conditional upon giving your details...
By running away, most people win a short holiday, then debt collectors turn up and the debt is more...
You need to sort this, but help is available at least.
What they won't do is help you find extra money...
That's why it's so silly to do anything that charges you "interest" no matter how easy and beguiling the presentation. Even if you make it work like nearly everyone else can, you are still giving away some ridiculous percentage of your hard won money!
Thank you for your reply, but I find it hard to understand
I Sperg said:Budgetting solves the problem in a way that allows you to get into debt again, defaulting and leaving such a low trace that no one can find you for a decade, does not.
If you live in the modern world you'll need to get that sorted, and be proactive about it, to avoid the modern equivalent of the "slavemasters whip" being applied to you, & your mr's.
There are various methods of handling this, BUT you do need to do it.
Ideally get someone else to do all the financial stuff (and live on pocket money and disrespect like I do, currently) or MAN UP and BE "responsible" and maintain positive balances. Which if you haven;t walked this walk beofre, means getting sympathetic advice, which will incvolve doing a budget, seeing what sacrifcies you can make and setting up a repayment plan, which you stick to.
I've "sucessffully" not paid a load of debt back & I've done the budgetting route on the first time I was faced with that problem.
Budgetting solves the problem in a way that allows you to get into debt again, defaulting and leaving such a low trace that no one can find you for a decade, does not.
Not borrowing money form people who would not wee on you if you were on fire, IS the best policy in future for you, me and EVERYONE.
Ironically I am the complete opposite and great with money, unlike my NT wife who is a debt car crash!
I think it’s gonna have to happen if I’m being honest they won’t go away
Citizens Advice for a face to face meeting is probably your best starting point, but at some point you will need to speak to people on the phone so look to find some support to be able to do that.
I have my wife