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Credit Card Debt: living on credit Credit Card IVA 

When Living On Credit Turned Into A Nightmare

I have to admit I have always liked the finer things in life but in my defence I also knew the importance of working hard and not living on credit.

While I can’t admit to being the best saver in my family or even circle of friends I have always made sure to not  to live on credit but some how that changed.

I’m not sure exactly when or even how but gradually over a period of about 2 years I started to use more and more credit cards and overdrafts.

I think it began when I missed payments to my credit card company and they added charges, but I couldn’t afford to repay the charges so the debt quickly spiralled.

I tried to take out a payday loan to repay the credit card but didn’t realise their charges were far greater than the credit card company.

Although I could have asked family or friends for help there was something about asking for help I really didn’t like, it felt like I was admitting failure.

Living On Credit

Credit Card Debt: living on creditI soon found myself using credit cards and my overdrafts to pay for essentials such as my food shopping and travelling to work.

I couldn’t afford to go out with friends or buying presents for my nephews birthday, that’s when I knew it was time to seek financial help.

How I Stopped Living On Credit

I called a debt advice company who were extremely helpful and after they took all my information explained all the debt solutions available to me.

When I called it never occurred to me it would be so simple to get advice let alone have so many options to solve my debt problems.

The debt adviser explained the best debt solution for me would probably be an IVA because it freezes interest while letting me pay some of the debt back.

I’ve been in the IVA for 1 year now and it’s allowed me to get my finances back under control without having interest and charges piled on.

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[accordion title=”Story By:” load=”hide”]Gillian Gilder[/accordion]
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