After a few weeks of worrying about what direction we were going to head in over our mounting debts we have now made the first step along the road towards BR.
I have cancelled our DD on the mortgage - and it felt good - it felt like the first weight had been lifted - ironically as I was on the phone making the cancellation our new monthly payment letter arrived - our provider thinks its OK to go from 6.14% to 9.2%!!! These robbers deserve the shafting they are due - this is more than double the BOEBR!!!
As the song says "there may be trouble ahead" but with the advise and knowledge we are building via the forum we feel confident and well equipped to navigate them!
Don't ignore the inevitable - recognise it and address it - as Jullian quoted to me "with time comes options".
Hi MrEGuest, my husband and I felt that too with the one non-payment of our debts prior to BR-it is quite liberating! scary but liberating!!! also made us realise how much money we've been paying on debts all these years!! No wonder we've ended up BR! Good Luck S x
Hi i can second that, when the debts were not being paid we did not have heaps but once the essentials had been paid i could not beleive we managed for so long with the money we had.
I actually felt quite good when i stopped completely, guilty to start then i felt almost a sense of gladness if you like, it was even better when i called some of our creditors the day we went BR and gave them the BR number, they had pestered us for so long it was a great experience.:-) as i got the last laugh, LOL
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
I was amazed to get the first call today from the mortgage company - the first payment on the new % is not even due until 1/11 and we have no arrears - they called to say they noticed that the DD had been cancelled with our Bank - we said its due to us changing Banks and re arranging DD's - are those rob dogging bar-stewards in for a shock ;-)
We are at present planning with military precision our critical path of events...
Cancelled the mortgage
Posted - 22 October 2008 : 13:40:09
