Success story – thank you MSE!


So, six-and-a-half years ago I posted this thread:

https://forums.moneysavingexpert.com/showthread.php?t=3744595

I had about £5k worth of debt, £3,200 on a credit card, with monthly repayments of £105 but only paying £9 a month down.

I won’t lie – my financial position was bad back then and I remember feeling ashamed to have to loan money from my student girlfriend due to my naivety about finance/credit cards.

Thanks to the advice from this forum, I was able to do a balance transfer and pay down all the debt on a 0% rate.

I’ve since done two more balance transfers (ending the credit cards no longer offering the 0%) and, as of next month, the balance will finally be down to £0.

It feels amazing to be a month away from being debt free, and it’s a million miles from 2012. Thank you everyone who helped me understand things back then.

My credit rating is very good now, my car is paid for and, after bills I still have 70% of my income left over for savings, pension contributions and to put aside for holidays.

I suppose also it’s a sign for those who think there’s little hope when things are bad financially. Step by step – you can get out of it, but just don’t be afraid to ask for help.



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