Get out of Debt tips: don't give up!
When debt is starting to take a hold, it is easy to sink further and further into depression but Alison Brixton from Kent, shows that there are positive ways to lift yourself out of debt and back on the road to financial freedom.
Alison had four credit cards, three store cards and had run up a substantial amount of debt. She could have easily thrown in the towel and let the debt collector do his worst but instead of feeling sorry for herself, she thought up innovative ways to clear her existing debt by November 2008 and to restore her financial independence. Instead of heading toward an IVA - she's now headed toward a debt free future!
Wherever, Alison could see a lucrative opportunity, she took the initiative and gave it a go. During the summer, she invested in two bouncy castles and hired them out at events. When the summer was over, she re-sold the castles for exactly the same price as she purchased them and made a profit of £2,500, which immediately went on her outstanding debt.
She claimed back all of her bank charges which allowed her to reduce another £1,700 of accumulated debt and also switched her utility suppliers to more economical alternatives.
Alison loves a bargain and has a penchant for rare, collectable records. She started purchasing sought after albums at car boot sales and selling them on eBay, this also brought the pennies reeling in.
The simplest ideas are often the easiest way to bring in extra cash, start reducing debt, and prevent you having to enter a serious debt solution. Who knows, you may even have a lot of fun along the way!
