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Single mum, 22, reveals how she paid off £15k of debt in less than two years
A single mum who had racked up £15k of credit card debt by aged 22 has revealed the steps she took to pay it off in less than two years. Alex Wren, 25, got her first credit card aged 19 - in a hope it would help her build up her credit score, to help get a mortgage in the future. But before she knew it she was developing bad habits and using most of her up to £3,000 limit to go on birthday and Christmas trips. By aged 22 she had racked up £15k in debt. She was meeting her minimum payments of £30 to £50 a month on each of her five credit cards until she fell pregnant with her son, now two, in 2022 and she felt there was "no way out". Alex decided to take out an Individual Voluntary Arrangement (IVA) - an agreement with your creditors to pay all or part of your debt - in January 2023 - paying just £100 a month back to start with. As her credit cards were maxed out and she was no longer able to take out any credit she was only able to spend what she had. Then after sharing her council home renovation on social media in April 2024 she started making an income off content creation and was able to make and pay back the £15,000 in six months. Now she wants to raise awareness to stop the "shame" around debt. Alex, a full-time content creator, who lives near Sheffield, South Yorkshire, said: "Everything suddenly began to rack up. "I felt like I was throwing money into an abyss." Alex first took out credit so she could buy a MacBook when she was 18 - and was told she was viable to do it. She took out a credit card aged 19 with "good intentions". She said: "When you're young you forget that this is your money to spend. "I was spending on birthday trips and Christmas trips. "There was a feeling like you need to do something for special occasions. "I was earning minimum wage - how else would I be able to enjoy nice things? "I would go on two nights away trips for my birthday. I'd go out to a city and by the time you've gone out for food and drink it quickly racks up. I was spending £600 to £700 on a weekend away. "I was using birthdays as an excuse or a reason to spend." Alex started to use her credit card more and more but would always think it was "next pay days problem". By the time she graduated from university she had maxed out her £3k overdraft and was in nearly £15k of debt in total - spread across five credit cards. She hadn't realised how much debt she had racked up until she feel pregnant with her son. She suddenly feared she wouldn't be able to make the …
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