With nowhere to go, it was easier to make changes and learn restraint … but it will be 12 years before I am out of the red
It was terrifying to see the state of my finances written down in such a specific way: I owed more than £37,000 on four different credit cards, had a £37,000 loan and maxed out my £2,000 overdraft. In an article in the Guardian I explained how I had set up a social enterprise – and ended up £76,000 in debt.
A year on, it feels no less embarrassing and surreal. Despite a debt management plan which I started a year ago, I feel I’ve barely made a dent in the headline figures. Unless my fortunes change dramatically, like many others, I’m looking at over a decade living with debt.
