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3 Oct 2014

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I Can't Get Out of Debt

4 years ago Angela was a successful career woman who enjoyed the good life... Now a single parent, she's seriously in debt - financial hardship overshadows her life ...

Angela comes from a wealthy background. When she was 17, she left home and took on a rented flat that she couldn’t really afford. She managed to sort out the financial problems which arose from this. As she got older, she got a good job in London and bought a house.

Although she was still paying off debts she’d incurred when she was younger, she was able to make the repayments without problem, lived a comfortable life, dressing in designer clothes, and was in the process of buying a larger house. But everything suddenly fell apart when she became pregnant. Her partner left her, her parents were not pleased with her for having an illegitimate baby, she left her job, feeling that her employers were unsupportive of her - and she made a loss on the sale of her house.

She was now in serious debt and turned to the social services. She needed somewhere to live, and eventually managed to rent a flat, not in the best state of repair. She's since tried to get other jobs to make ends meet, she's has found that if her earnings went over a certain amount of money her benefits will be cut.

After six months in this situation her creditors began asking for payment on the various loans, store cards and credit card debts she's handled easily before she became pregnant. Although totally delighted to be a mother, she lives now on very little money. Suffering from depression, Angela sought help from the Citizen's Advice Bureau who were able to freeze payments on her loans. But she knows that her financial worries are on hold and sometime in the future she still has to tackle the paying off of her debts.

Angela is embarrassed about her position. Her friends and family continue to enjoy the lifestyle she used to have and she wonders whether she'll ever be in a position to enjoy it again herself.

Have you had to deal with a difficult and debilitating change in circumstances?
How did you cope with the situation - were your friends and family prepared to stick by you?

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