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Make a cup of tea, take a deep breath and…
Step one: Work it out
Sit down and work out exactly how much you owe and who you owe it to. Be honest to yourself. For me this meant going through all the envelopes I hadn’t opened. Going through the messages on the answering machine and looking at my bank statement. I knew what was in the envelopes but I had such a fear of brown packages and their contents. Seeing those bills made the money I owed real. Seeing the demands for payment meant that I didn’t have my shit together and I wasn’t the noughties woman who managed to juggle work and motherhood. I didn’t have it all. My bank manager knew the truth and the people at the electricity company knew the truth so why couldn’t I admit this to myself?
Now me being me, I read the bills and cried my eyes out. Tea had now moved on to left over Stones Ginger Wine (surprising strong for an oldies drink). I put the bills into separate piles whilst watching This Morning. (I love Philip and Holly) I then found the latest date for each bill/demand letter/notice of disconnection and shredded the rest. (Less paper made the problem seem smaller).
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tumblrbot asked: WHERE WOULD YOU MOST LIKE TO VISIT ON YOUR PLANET?
Anywhere that I can view the northern lights.
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I have heard there are troubles of more than one kind.
Some come from ahead and some come from behind.
But I’ve bought a big bat. I’m all ready you see.
Now my troubles are going to have troubles with me!
~Dr. Seuss -
Better not bitter…
My name is Sam and I first got into debt in my 20s. I was a lone parent living in private accommodation in inner city Birmingham. I was a full time student in the days when you could get a student grant and I also managing to hold down a part time job working in a night club in the City Centre.
Now you’re probably thinking “I know… you racked up a load of credit cards debts and loans and spent more than you were earning. Yeah, yeah yeah… heard it all before.” But no. My biggest expense was childcare. If I think back in 1989 I was paying £90 a week for childcare. More than I was earning as bar staff. My student grant covered my rent and basic living and I was struggling to make ends meet.My ex wasn’t interested and the child support agency weren’t interested in helping me.
Even when I graduated and managed to get a regular paying job I have never in nearly twenty years managed to get to a stage where credit cards, a premium bank account or loans, were a part of my world. I fell behind with my rent - got evicted, council tax - summoned to appear in court, utilities - disconnected. Being in debt has had a negative effect on my prospects and opportunities and those of my children.
Over the years my debts have continued to mount up with short periods of ease. The credit crunch for me is an interesting time as I feel my credit had crunched some time ago and the rest of the world was experiencing my every day life.
I’ve never been on holiday with my family. Never been able to get a mortgage. Not held a full time job with a contract of more than three years (I’ve freelanced for the majority of my working life) I don’t eat out on a regular basis and frequented the sale racks for school shoes, budget shopping for years but I know, I know… “How can someone let their debt get that high?” Just living, just life.
In September 2011 I decided that things needed to change. I was in my forties with no savings or pension. I should have a house and be saving for retirement.
‘How to get out of debt’ was born to help document my financial transformation. I’m not doing this to be able to wipe everything but to work towards the freedom my family and I deserve. I have had to face my debts head on. Not an easy job to do. I have had to face my fears, the shame and embarassment of contacting those you owe money to. I hope this blog will provide a platform for growth and provide help for other people who have found themselves in a similar position position.
