Money Street News
  • Please enable News ticker from the theme option Panel to display Post

A mum was left in £40,000 of credit card debt after she “didn’t realise” she had to pay back the money used on the cards.

Maddy Alexander-Grout’s mornings were filled with dread as debt collectors could turn up at any moment, and letters warning of her financial struggles were delivered. Maddy’s troubles began when she found herself £40,000 in debt after her spending got out of hand.

At university, the 40 year old started accumulating debt when she was offered various credit cards at her freshers’ fair, Manchester Evening News reported. Seeing the cards as free money, the former student didn’t realise she would have to pay back any credit she accumulated on her accounts.

READ MORE: Lotto winner ‘chucks out’ fraudster hubby who ‘saw her as nothing more than cash machine’

Click here for the latest news and updates on financial woes across the country.

Maddy has since paid off her debts and has shared her money saving tips online(Image: Maddy Alexander-Grout)

She started taking out loans and spoiling herself with pricey shoes and bags, often picking up the tab for her mates’ drinks when they went out. Maddy said: “I took out credit cards and overdrafts. At one point I even got a university hardship grant, a hardship loan, store cards all sorts. I genuinely had a spending addiction.

“It was my low mood, lack of dopamine. Now I know it was because of my ADHD I got diagnosed in 2021. It was out of control.” Maddy says she didn’t notice her mounting debt until she moved out of her university halls and had to manage bills herself.

The former student soon found herself unable to pay for her gas, electricity and water bills which affected her relationship with her flatmates. “I couldn’t afford to pay any of the loan repayments,” she added. “I couldn’t afford to pay the minimum payments so it just spiralled.”

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

No, thank you. I do not want.
100% secure your website.