Debt Diaries

Debt diaries 001

Anonymous
January 16, 2024

🎂  Age?

27

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🌎  Location?

Birmingham

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🫥  Source ?

Anonymous

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💸  Debt balance?

£29,000

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👂 What will you be sharing?

Funny debt story

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📖  What would you like to share?

"I got a credit card just for the fun of seeing if I was in good standing with lenders in their eyes (I had never had a credit card before). That’s how £500 of credit turned into £29000 of debt"

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❓ What happened for you to be in your current debt situation?

"Well everything spiralled when COVID happened and money was not as flush for anymore when I wasn’t working as much. Keeping up became a problem and I felt I was constantly chasing my tail"

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Incredible is a trading name of Incredible Technologies LTD, a company registered in England and Wales (No. 13469248). Incredible is acting as an agent of TrueLayer, who is providing the regulated Account Information Service, and is Authorised and Regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011 (Firm Reference Number: 901096). Incredible is a distributor of Modulr FS Limited, a company registered in England and Wales with company number 09897919, which is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573) for the issuance of electronic money and payment services. See here for more details on Modulr.

*The example assumes you have a credit card balance of £2,100 with an interest rate of 21% and making minimum repayments. Rounding up £5 per week and paying the total towards your monthly credit card bill.

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