This topic contains 7 replies, has 4 voices, and was last updated by  HopeLifeJoy 7 months ago.

  • Author
    Posts
  • #70803
     HopeLifeJoy 
    Participant

    Hi all,
    Today I paid off the last remaining of my bank debts!
    Like most of us after leaving my abusive relationship I was left with nothing, my savings were spent, I had only few clothes, I kept myself afloat by withdrawing money from my credit card account until I finally reached the credit limit.
    I called the bank (sobbing!) and told them what happened and they were very kind and offered a solution and we agreed upon an amount that I shall pay back each month.
    I had to apply to go live on benefits, it took me two years to pay the debt off and now it’s finally paid!! One tiny victory!I am very pleased. Going out now for a little celebration walk in the sun 🙂
    Wishing a good day to everyone.

  • #70808
     White Rose 
    Participant

    Fantastic! Well done you I’m really pleased for you and it made me smile too – always a good thing x*x

  • #70809
     Iwantmeback 
    Participant

    That is brilliant News. It truly is a remarkable feeling.🥂

    IWMB 💕💕

  • #70815
     lover of no contact 
    Participant

    Well done Hope/Life/Joy,

    Definitely celebrate your doing this. It is a great achievement and probably involved a lot of sacrifice on your part and doing without.

    Any practical financial tips on how you did it?

  • #70822
     Iwantmeback 
    Participant

    The best advice I can give is face it head on, get the advice of CAB or money matters, once the enormity of debt is controllable, it really is like being able to breathe again.it won’t go away but once you put a plan into place, all interest is stopped so you’re literally just paying back the debt. Once you include it into your outgoings it really is paid of in due course. I had thousands of pounds to pay bavk, entered into the das scheme, it is doable. This was debt we both took on for a business venture. As typical with abusers they love telling everyone they have a business but anything detrimental they take no responsibility for.
    Best wishes
    IWMB 💕💕

  • #70843
     HopeLifeJoy 
    Participant

    Thank you all 🙂

    I absolutely agree with IWMB, face your debts head on, get help and inform yourself with an organisation that deals with debts.
    I had to deal directly with my bank because I didn’t qualify for support my bank being located in another country (complicated story of moving back and forth between my home country and where my ex lives) so I ended up paying interest rates and that hurt the wallet doesn’t it.

    Once a plan was set in place it was just a matter of following the numbers on the sheet. I went for the most minimal amount authorised by the bank – since living on benefits – which gave me the possibility to control the amount upwards, some months I was able to pay back more than I was obliged to.

    Indeed I had to watch closely my other expenses, I broke them down into multiple recurring monthly budget, e.g. Internet, Food, Transportation, Other (for toiletteries/clothes/bills/books etc) and a small Emergency Stash. When I had money left over from one month I paid my debts with it.

    All the best

  • #70874
     lover of no contact 
    Participant

    Thanks for that advice. Its great to know that if we put a plan in place to pay back debt or save to escape abuser, that if we take the action day by day one day we will wake up and the debt will be paid or money saved to escape.

    Well done again, a fantastic achievement.

  • #70929
     HopeLifeJoy 
    Participant

    Thank you. It’s great indeed to know that following a plan pays off. Now I can start saving again 🙂

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