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