The Debt Free Roll Of Honour

jash50 · 7 February 2007 at 1:37PM

Please help me out !

I got a letter from 1st credit ltd po box 278, Reigate, RH2 7WB.

They are claiming me money from HSBC. Their letter has an anonymous signature, as if they have scanned the signature. There is no person named in the letter just a signature and some pics of credit card logos !

They are threatening to initiate legal proceedings.

My bank account has been closed 5 years ago. I cant understand why this company is asking me money??

How do you proceed to report that company? How do we arrest these people?

Alisonbel · 8 February 2007 at 8:29PM

You've put this post in wrong place, so probably won't get the answers you want. I would say this is a scam so don't send any money til you've really checked it out.

skintchick · 9 February 2007 at 11:46PM

Wow! Well, today's the day the final payment to my car loan went out, making me officially debt-free! :T

It's been a long time since I had no debt - about 1999, I think.

My lightbulb moment was more of a gradual turning on of a light, than a sudden realisation.

I found Martin's book at my work back in 2003. I used it to budget, which was great, but still spent on credit cards, and would transfer balances without ever really paying them off.

Finally, I came to this site in tears, and got so much fantastic support, that I got a grip.

I knuckled down and started paying my debts off one by one.

At last I had just this zero per cent car loan, and today, the final payment went out of my bank account!

So that's it - no more debt.

At their highest, my debts were a bit over 7k, which might no be loads compared to some, but they scared me.

My DFD? Today! 9 February 2007

Pearls of wisdom?
Budget, budget, budget
Don't delude yourself that transferring balances is being in control
A post-it note in your purse saying 'do I really NEED this' works wonders at curbing spending
Learn the difference between a want and a need

Well, it's cool to be on the roll of honour :cool:

Good luck to everyone else! Get debt-free!

:A

oops_a_daisy · 13 February 2007 at 1:53PM

a. The date of your lightbulb moment - February 2006
b. Debts at their highest - £8500
c. Debt-Free Date - today 13th February 2007
d. Your one pearl of wisdom. - come on here and read everything - dont do anything ( moneywise ) before checking on here first

I joined in March 06 and started by reducing all of my outgoings. I looked at every direct debit and reduced home contents & buildings insurance, gas & electric, phone TV & broadband and mortgage as well as earning cashback by using cashback websites to switch. I claimed back unfair bank charges and endowment mis selling compensation. I paid off 2 overdrafts straight away which left me with 3 loans ( 2 smaller ones which were nearly paid off anyway and 1 larger one ) and a credit card. I balance transferred my credit card balance onto a 0% card twice and saved up to pay off the larger loan early - the other 2 were paid off monthly and were 0% anyway. This morning I have paid off my last 0% credit card so I will be able to close that account in a weeks time. I have also managed to save some money into an ISA and in my DD's name as well as using a cashback credit card for purchases, which is cleared every month by direct debit. I have cut my spend on household items and food by doing weekly food planners and cooking - this is by far the biggest saving but also my biggest temptation

I can not thank Martin enough for this site and his book as well as all of the people on here who offer advice.

Freddy_The_Frog · 15 February 2007 at 9:47PM

a. The date of your lightbulb moment - March 2005
b. Debts at their highest - £120,000
c. Debt-Free Date - 27th Feb 2006
d. Your one pearl of wisdom. - don't try to keep it a secret.

Well I have just found this site and feel I could probably help people as it seems I have the highest debt. I am in Scotland where things are a bit different but I know the system inside out. Any questions - just ask

southern_chick · 16 February 2007 at 8:52PM

a. The date of your lightbulb moment - December 2006
b. Debts at their highest - £1935
c. Debt-Free Date - 16/02/07
d. Your one perl of wisdom - keep track of every penny you spend and embrance the Old Style Board fully!!

Thank you to everyone for advice, this site and the people on it are amazing :T

nick_denny · 16 February 2007 at 9:54PM

I have just started my road to being debt free just talk to them and yu'll be ok

little_miss_thrifty · 18 February 2007 at 10:04AM

* Lightbulb moment - May 2005
* Debts at highest - £12,000
* Debt free date - September 2006
* Pearl of Wisdom - do a budget and stick to it; live a more basic life, even just for the life of the debt - going without luxuries like sky and play with your children more (if you have any, or else catch up on friends and family). Do more home cooking; you may enjoy it and find it taste's better, go for walks rather than shopping for things you think you want or need.

Thanks to this site, rather than debt, we now have £10+ in savings and have started chipping away at our mortgage. My lightbulb moment came when i was 8 months pregnant with our second and the debt worry kept me from sleepng that night - and i vowed money would never affect me like that again. We managed to clear our debts with an insurance compensation payout when hubby crashed the car, but for the last 18 months he has become more involved in money too and we still live a more basic life.

Thanks x

zag2me · 22 February 2007 at 2:24PM

a. The date of your lightbulb moment 01 Oct 2006

b. Debts at their highest £11,000 (end of uni, too much drinking!!)

c. Debt-Free Date 22nd Feb 2007

d. Your one perl of wisdom. Most things that cost money are pointless

e. And if you had a debt diary on DFW, a link to it linky

Starry-eyed_surprise · 23 February 2007 at 1:34PM

Thank you Martin !! :T

Date of light bulb moment:
March 2003

Debt at its highest:
@£12000+ (too scared to ever total it up accurately)

Debt free date:
February 2007

Pearls of wisdom:
Read Martin's book, use the advice and support on this site and on the chat boards, and remember ( to borrow a phrase) Every little helps. Those small amounts saved really do add up and make a difference when offsetting debt. Negotiate the lowest interest rate you can for your debt and keep checking for better deals. Don't be an ostrich where money is concerned - I turned into an obsessive vigilante over money and it really helped. Also, the £2 savers club was an inspiration and made an enormous difference to Christmas this year.(Thanks Greenfingers)

Having said all of this, I must add a personal and sad rider to my 'pearls of wisdom'. My original debt-free date according to the snowball calculator would have been 2009 according to my then current rate of repayments. Sadly, I have developed a terminal illness which means that I have had to give up work and have just taken early retirement. Thank goodness for my pension as I am too young for a state pension and am now relying on DLA for income. It is with this retirement money that I have been able to clear my debts so much sooner. Hardly the way I would ever have planned it but I am glad that I won't be leaving any debts behind for the family. My final pearls of wisdom have been gleaned as a result of this experience and I would suggest that if at all possible a pension is a great thing to have and my other pearl would be to remember that at the end of the day money (and lack of it) is not THE most important thing in life - even though at times it can seem overwhelmingly important, the most important thing is family and friends and the love we share. In this I realise I am truly rich.

Congratulatios to all the other Debt-free team members and very best wishes to everyone else on this journey. Good Luck. :A

Love from Starry-eyed surprise xx

The Debt Free Roll Of Honour

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free