Debt Demolisher

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  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    edited 19 April 2017 at 2:07PM
    Having also added up all of my up to date debt balances it all actually adds up to a little less than it was originally. Only by about £40 but that's a lot when you're in the boat I'm in lol
    M
    Emptying my lake with a teaspoon
  • Cherryfudge
    Cherryfudge Posts: 10,026 Forumite
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    motivated wrote: »
    The manager eventually agreed to refund ALL interest and assured me it will be stopped from now on :beer:

    That's great, well done!

    :T:T:T
    I think a bit of sunshine is good for frugal living. (Cranky40)
    The sun's been out and I think I’m solar powered (Onebrokelady)

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  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    Cherryfudge wrote: »
    That's great, well done!

    :T:T:T

    Thanks cherryfudge

    I've just checked my loan balances and the refunds are already showing, making my balances look a little better again. Not much but still less than they were yesterday :D
    M
    Emptying my lake with a teaspoon
  • Bobarella
    Bobarella Posts: 10,824 Forumite
    Savvy Shopper! I've been Money Tipped!
    motivated wrote: »
    Update on Halifax

    Spent an hour on the phone this morning as they have added over £500 interest on the 2 loans I have with them :mad:

    The lady I spoke to was quite friendly but very adamant that the payments on my payment plan were missed and they would restart the plan in May. I promptly reminded them of the letters they had sent me dated the 12th April thanking me for my payments in line with our payment plan etc.

    I then had the courage to ask it to be escalated to a manager. :D Go me.

    The manager eventually agreed to refund ALL interest and assured me it will be stopped from now on :beer:

    Feeling very proud of myself this morning as I don't know where this new me has come from :)
    M

    Well done on a great result:T:T
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    Bobarella wrote: »
    Well done on a great result:T:T

    Hi Bobarella and thankyou

    It's tough going this debtbusting but already I can see my balances reducing.

    I noticed you were 40k in debt I think and now debt neutral. Sorry for the dumbness but what does debt neutral mean :o
    M
    Emptying my lake with a teaspoon
  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    edited 20 April 2017 at 11:39AM
    Hi all

    I feel a ramble coming on :p

    Just sat here working out figures etc and have decided that I need to REALLY start building up some extra funds. As our DMP journey progresses I aim to be able to offer full and final settlements on maybe 1 or 2 of our CCs. We are still managing to waste money by adding extras to the groceries or just by popping to the shops and buying unnecessary items. I went in for a newspaper and also bought treats for the dog that he didn't need and chocolate that was on special that I definitely didn't need :o After working it out I would guess we have spent/wasted an extra £25 this week alone. If we do that every month that's approx. £100 wasted without realising :eek: I suppose when you've been in the mind set of 'oh well I've spent it now' attitude its hard to break.

    Its so easy to veer away from the budget and we must stop doing it if we want to become DF sooner than planned. I did start rounding down accounts on a regular basis and need to get this back in check.

    We have our EF but want to also build up our other accounts quicker than we are doing. This money wasting is not good and a good kick up the back side given to myself :D

    I just find it easier to write my thoughts down and then I can remind myself the purpose of this journey and keep my eye on the end goal.

    Goals:
    Car Tax, Insurance, Vet Bills account - 0.00 /£750 ish
    Christmas Fund - 0.00 /£500
    F&F Savings Account - £0.00
    General Savings - £0.00
    will update figures once I've checked online banking.
    M
    Emptying my lake with a teaspoon
  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    Well I have now checked balances on my accounts and so far they are building slowly but surely.

    Goals
    • Car Tax, Insurance, Vet Bills account - £96.48 /£750 ish. Needed for around March 2018
    • Christmas Fund - £50/£500
    • F&F Savings Account - £70
    • Emergency Fund - £1,500

    Will keep adding to them as and when possible. I know it seems terrible having a little money put aside when I am on a DMP but now we have no access to credit we need to be organised and ready for any bills and emergencies that may arise. Plus this organisation is what is keeping me positive on the long road to freedom :)

    Once the balances grow I plan to be able to up the monthly payments to our DMP.
    M
    Emptying my lake with a teaspoon
  • Bobarella
    Bobarella Posts: 10,824 Forumite
    Savvy Shopper! I've been Money Tipped!
    motivated wrote: »
    Hi Bobarella and thankyou

    It's tough going this debtbusting but already I can see my balances reducing.

    I noticed you were 40k in debt I think and now debt neutral. Sorry for the dumbness but what does debt neutral mean :o
    M

    I have around £350 left to pay off. My business has such choppy cash flow it makes more sense to me to keep it in an account just in case. So I technically am debt free but I wouldn't feel comfortable claiming that if I hadn't actually made the final payment.

    I made the decision to amend my signature as it has been haunting me every time I log in and then I go on the same spiral of thought, should I clear the balance, no it doesn't make sense, keep the cash, rinse and repeat.
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • Bobarella
    Bobarella Posts: 10,824 Forumite
    Savvy Shopper! I've been Money Tipped!
    motivated wrote: »
    Well I have now checked balances on my accounts and so far they are building slowly but surely.

    Goals
    • Car Tax, Insurance, Vet Bills account - £96.48 /£750 ish. Needed for around March 2018
    • Christmas Fund - £50/£500
    • F&F Savings Account - £70
    • Emergency Fund - £1,500

    Will keep adding to them as and when possible. I know it seems terrible having a little money put aside when I am on a DMP but now we have no access to credit we need to be organised and ready for any bills and emergencies that may arise. Plus this organisation is what is keeping me positive on the long road to freedom :)

    Once the balances grow I plan to be able to up the monthly payments to our DMP.
    M

    Doesn't sound silly, sounds very sensible. I am sure that's what all the advice says.
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • motivated
    motivated Posts: 3,044 Forumite
    First Anniversary Photogenic First Post PPI Party Pooper
    Bobarella wrote: »
    Doesn't sound silly, sounds very sensible. I am sure that's what all the advice says.

    Thanks Bob, and very well done for coming as far as you have. When I see things like this it proves to me that it is doable and I can achieve my goal of being debt free one day.

    The excellent advice I've had so far is what has given me the strength to deal with my mess and I can honestly say I have never been this organised financially. :D

    DH has been paid today so we will be able to adjust our budget and accounts and hopefully will have some more to add to savings.
    M
    Emptying my lake with a teaspoon
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