Psychopathbabble's Path to Debt-Freedom

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  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Why does payday always seem so far away? DH gets paid on Friday, meaning another chunk to the loan :) credit reports are out today on Noddle so I keep checking to see if it's available yet!
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    psychopathbabble wrote: »


    ETA: Would like to keep a record of my credit score each month (i use a free website) and this month it is 569/710, 3/5, closer to poor than fair. I can't remember what it was previously, but a few months ago it was 1/5 so i'm getting there! DH is 601/710, 3/5 between fair and good.

    This month our credit scores are:

    mine: 568 3/5 but I think this is because my balance transfer card has shown up, but my two credit cards that are now empty still show a full balance :(

    DHs: 607 4/5 so his is improving :T
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Just popping in to announce a payment of £796.68 to the loan this morning :) just got to wait for the penalty to hit the account now... I'm sadly wishing my life away via pay days at the moment! Hopefully this loan will be paid off in November pay day :)
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Update:

    Loan - 2299.81
    MBNA 1 - 1610
    MBNA 2 - 4060.96
    Bed - 1700

    paid 2515.22/12185.99 (20.64%)

    It's gone up slightly on last month as we had a week off at the start of august and spent money on lunches etc. Never mind, it's still going in the right direction!
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Credit report is 571 for me and 3/5... My credit cards are still showing the wrong balance from before the balance transfers which is frustrating :(

    DH has dropped to 580, probably because of the BT card he opened. He also has a ton of searches shown up for insurance companies and the BT card which doesn't help!


    Oh well, the loan should be paid off in November and I am closing my credit cards so hopefully that all helps.
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Update on finances:

    Loan £2299.81
    MBNA 1 £1610
    MBNA 2 £4020.36
    Bed £1700

    Paid £2555.82/£12185.99 21% :)
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    edited 3 October 2016 at 3:37PM
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    Now everything has been paid for the month, just thought I would update the totals. As we changed one of our cars this month, we didn't have to pay the finance, so I put that straight towards the loan. Meaning we get the loan paid off on the 21st of this month! :) A whole month earlier than I had planned in my debt repayment budget but we originally took it out over 3 years, and will have paid it back in 19 months! :T:T:T

    Loan - 1039.45
    MBNA 1 - 1585
    MBNA 2 - 4020.36
    Bed - 1652.78

    Paid £3888.89/£12,185.99 (32%)

    Hopefully we will get pay another 10% off next payday, and settle the loan :) DH should also get his car allowance increased this month (it should have been increased from July) so that will help!
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    I may not get time to post on Friday as we will be at a wedding, but this Friday we will be making the final payment of £1046 to our loan. Yay!

    we have racked up small amounts on our 'daily' cards, so need to get those paid off next month. Once those are paid again, our only debt is 0% credit cards and bed finance. Am planning to pay off the smallest credit card by Christmas and then relax a little... Will still make over payments to the final credit card, but also want to try and make some savings too... With having baby arrive, I fee uncomfortable not having any buffer in case of emergencies. Seeing as our debt will be 0% interest, it won't cost us any more to slow down a little. Our loan will have been paid off in 19 months instead of 36, and my credit card (MBNA 1) will have been paid off in less than 6 months.
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
  • Katzen
    Katzen Posts: 535 Forumite
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    Wow! Good work on clearing so much so fast. Seems you don't do anything be halves. Do you currently do swag bucks and surveys? If not, get signed up before baby arrives because you will probably spend hours in the first few months sitting cuddling a sleepy bundle with tv in the background. I'm kicking myself that I forgot this, I got through the entire gossip girl back catalogue in that time!!
    Mortgage Outstanding Nov '16 £142,772.75
    Mortgage Additional OPs 2017 Target £4522.80/ Actual £865.00
    GC Feb 0/£200
  • psychopathbabble
    psychopathbabble Posts: 5,888 Forumite
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    Thanks Katzen...

    I think I signed up years ago but never really got into it.have got a list of recommended box sets to watch and i think I'll work my way through the competitions forum :)
    Became Mrs Scotland 16.01.16 :heart:Became homeowners 26.02.16 :heart:Baby girl arrived 27.10.16 :heart:Baby boy arrived 16.09.2018
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