Friday, 13 January 2012

True Story: Being In Debt

I don’t like telling my story, embarrassment, shame or worse still that look of pity that glares back at me. That’s why I found making a telephone call a lot easier there would be no looks just a voice.

How have I got here, a few years ago my life was so different I was married, 2 lovely children a beautiful home. The holidays were great any less than two a year and I would grumble, the restaurants I would frequent were varied and often and I never left without giving a generous tip. I kept myself trim at the gym and enjoyed the friendships I made within this world. My car was my hobby new one every two years I kept it immaculate, the children drove me mad when I saw them entering any of my vehicles with sweets!

So why am I here? When asked the reason I am in this situation what is the correct answer? When my business collapsed I wasn’t scared, it wasn’t my fault the economy has affected a lot of people, spending cuts meant my company which was selling handmade designer furniture was no longer a priority. It was a LTD company so this meant I was not personally liable for the debt I would walk away, I could start again, I had started a business before there was nothing to say I couldn’t do it again. I had my savings they would keep all the bills paid till I began my new venture.

I never thought of my mortgage as a debt more of an investment, I never thought that technically I didn’t own my house the bank did! For me credit cards were wonderful you got what you wanted when you wanted it then pay it when your wages came in no problem. I had been brought up in a generation when credit was how we all lived we were taught buy now pay later. The occasional personnel loan had helped, my wife had been desperate for that conservatory and the kitchen was unique.

The savings didn’t last long and the pressure was immense the arguments at home grew more intense. I don’t remember who said what but I do remember that feeling of utter despair as I walked out the door with my worldly belongings in a case. It wasn’t amicable our divorce, the house was sold with negative equity. We fought over everything the biggest losers as is in most cases were my wonderful children.

Today I am one of millions claiming jobseekers allowance, living in rented accommodation and trying to survive never mind repaying the debt.

If I could help anyone it is to say always think twice when getting credit you do have to pay it back.

If you have a debt problem UK Debt Helper is not an advice agency. We advise you speak to a free debt advice charity such as Debt Support Trust or the Citizens Advice Bureau.


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