We might be broke but we shouldn’t be broken!
What is best for you and your money? Is it a self-imposed debt repayment challenge or would, perhaps, employing the services of a debt consolidation expert help you more?
… In my opinion, the best place to start with clearing debts is to understand how you got into debt in the first place and take a long, painful look at exactly how much debt you have accrued. This is where many fail to get out the starting gate, as the full realisation is one filled with such horror that the 'head in the sand' approach seems the easiest option. Easy it may be, but pain free it is not. For every day debt it is ignored, that debt can grow. Much better to stop it now and send it marching back to wherever it came from in the first place. Better late than never, as they say…
… Only by seeing, understanding and accepting your own financial state of affairs can you take charge of the situation and begin bringing it all under control.
Full article can be read here - Clearing Your Debts - Where to Start
After spending many months hardly sleeping, not wanting to answer the phone and dreading a knock on the door, I finally, literally shaking with fear, filled out a form for a debt management plan. Yes, it took a little time and yes I had to actually add up all our debts, but when the company 'Step Change' (a charity who does not charge for their service) came back with a suggested, manageable amount, which has been accepted by our creditors, I cried with relief. I now feel like I have a life again. For anyone who is hesitating, JUST DO IT!
ReplyDeleteThank you for responding to this post. Facing up to debts is the first step and seems to be about the most difficult one to make. Step Change is a great organisation and one that has included Frugaldom articles in the past, when they were known as CCCS, so I'm familiar with their good work.
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