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  • FIRST POST
    • Maccydu
    • By Maccydu 15th Apr 10, 9:37 AM
    • 57Posts
    • 129Thanks
    Maccydu
    Just another diary - nothing to see here
    • #1
    • 15th Apr 10, 9:37 AM
    Just another diary - nothing to see here 15th Apr 10 at 9:37 AM
    Hi all

    This diary is just a self-motivator so I can keep track of my own progress.

    I noticed in January that I'd managed to rack up just over £19k of credit card and overdraft debt and, whilst the repayments are manageable, I just don't fancy having it hanging over me anymore.

    Using a snowball calculator I'm apparently going to be debt free in 40 months. Let's see how much I can knock off that!

    Starting amounts:

    HSBC £2290 @ 24.9%!!
    Virgin £2083 @ 15.9%
    Amex £1570 @ 18.9%
    Capital One £6000 @ 12.9%
    Nationwide O/D £1880 @ 18.9%
    Alliance and Leicester £700 @ 0% (ish)
    Barclaycard £2680.19 @ 12.4%
    Egg £1800 @ 16.9%

    Most of them were initially 0% deals, but I didn't transfer / didn't cancel and spent more etc etc, and now I am where I am.

    Although I have a completely clean credit record (i check each month) I am unable to swap / get different cards as I currently live in a rented house whilst having a mortgage at a different address (a long and boring separation story!)

    So, here goes, let the fun begin ... !

    Maccydu
    LBM 21/01/10 Debt at LBM:£19,018 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362
    Now: £11,714 Debt Free Date: XMas 2018
    Amex £1905 £3433 (0% till Dec 2017) ~ Barclaycard £4870 £4990(0% till Mar 2018)
    Virgin Money £4939 (0% till Nov 2018)
    Official DFW Nerd No 1310 - Proud to be dealing with my debt!
    NO MORE LBMs!!
Page 2
    • Maccydu
    • By Maccydu 12th Jun 17, 8:50 PM
    • 57 Posts
    • 129 Thanks
    Maccydu
    Paid £186.60 off my Amex today, made up from the following:

    Sonos Play 1 (sold on Gumtree) £120
    Old HTC phone (music magpie) £30
    Topcashback payout £4.90
    Machine parts (eBay) £29.70

    so a pretty good couple of days!

    Target is to have Amex paid off by end of August.

    Roll on payday!
    LBM 21/01/10 Debt at LBM:£19,018 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362
    Now: £11,714 Debt Free Date: XMas 2018
    Amex £1905 £3433 (0% till Dec 2017) ~ Barclaycard £4870 £4990(0% till Mar 2018)
    Virgin Money £4939 (0% till Nov 2018)
    Official DFW Nerd No 1310 - Proud to be dealing with my debt!
    NO MORE LBMs!!
    • MrJester
    • By MrJester 12th Jun 17, 9:26 PM
    • 995 Posts
    • 502 Thanks
    MrJester
    Hey Maccy. We're at a similar debt range so maybe we can share tips

    I know how you feel being years on and not feeling any further, but the fact is these things take a long time and we have to commit to the process to get that freedom. Are you down to about 13k now? And do you still have the issue with not being able to do balance transfers?
    My new 2017 Batman-like debt free diary (£26k+)!
    • Purplemumof2
    • By Purplemumof2 13th Jun 17, 6:44 AM
    • 5,268 Posts
    • 18,517 Thanks
    Purplemumof2
    Hi Maccydu,

    Welcome back x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7000.00 Cap 1: £457.35 BC: £5000.00

    AFD 0/10 NSD 0/10 LTW 0/10

    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 11 2018 #003
    • Maccydu
    • By Maccydu 13th Jun 17, 8:52 PM
    • 57 Posts
    • 129 Thanks
    Maccydu
    Hi Purplemumof2, it's good to be back x

    MrJester, yes just a little north of £13k really.

    In the last 4 years ...

    I was down to about £10k, then met my wife. We got engaged, and organised the wedding (which cost around £20k), and then a week before we got married she was diagnosed with Breast Cancer, so things kind of went sideways for a while. She's all good now, but it took the best part of 2 years for her to recover, and has only just started back at work, so for the last 2 years it's been a one income household.

    Add to the fact I've also moved house 7 times in the last 6 years (a story for another time) and it's a miracle I only owe £13k currently!

    It's all 0%, I no longer have a mortgage with my ex, and my credit rating is currently 960/999, so getting new 0% deals isn't a problem - I just really want to get clear so I can save for a deposit and finally buy a house! I turn 40 in a couple of months, and desperately want to get out of rented accommodation and finally get settled.

    But anyway, we're doing really well now, and I know lots of other people have it much worse, so I've nothing to complain about really.

    I welcome any tips you can give me!
    LBM 21/01/10 Debt at LBM:£19,018 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362
    Now: £11,714 Debt Free Date: XMas 2018
    Amex £1905 £3433 (0% till Dec 2017) ~ Barclaycard £4870 £4990(0% till Mar 2018)
    Virgin Money £4939 (0% till Nov 2018)
    Official DFW Nerd No 1310 - Proud to be dealing with my debt!
    NO MORE LBMs!!
    • Maccydu
    • By Maccydu 24th Jun 17, 4:24 PM
    • 57 Posts
    • 129 Thanks
    Maccydu
    Have had a good few days, including payday yesterday, and have managed to clear around £1400 off my debt

    Made up from:

    Barclaycard
    £120 - from wages

    Amex
    £1041 - from wages
    £170 - sold some Adjustable Dumbbells on Gumtree
    £14.20 - sold my old Kindle on Gumtree
    £40 - sold 3 Xbox games on Gumtree

    I've targeted clearing my Amex by end August (just under £2k to go) but running out of things to sell!

    At least the needle is starting to move again!
    Last edited by Maccydu; 24-06-2017 at 4:27 PM.
    LBM 21/01/10 Debt at LBM:£19,018 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362
    Now: £11,714 Debt Free Date: XMas 2018
    Amex £1905 £3433 (0% till Dec 2017) ~ Barclaycard £4870 £4990(0% till Mar 2018)
    Virgin Money £4939 (0% till Nov 2018)
    Official DFW Nerd No 1310 - Proud to be dealing with my debt!
    NO MORE LBMs!!
    • Maccydu
    • By Maccydu 25th Jun 17, 8:23 PM
    • 57 Posts
    • 129 Thanks
    Maccydu
    Small update today.

    Managed to sell a few more things on Gumtree, deposited it in to the bank (via the cash machine) and then paid it straight off the Amex. They were:

    £40 - Old Samsung Galaxy Note tablet
    £15 - Some random tools I've only ever needed for 1 job
    £5 - A bottle of Synthetic oil for a car I now longer have (random!)
    £10 - From the Wife. Don't think it was pocket money, this may come back to haunt me!
    £5.00 - An old Sky router / hub (let's hope they don't ask for it back)
    £4.20 - Just because I'm trying to keep debt numbers in £5 increments

    The Gumtree well is REALLY running dry now!
    Last edited by Maccydu; 25-06-2017 at 8:28 PM.
    LBM 21/01/10 Debt at LBM:£19,018 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362
    Now: £11,714 Debt Free Date: XMas 2018
    Amex £1905 £3433 (0% till Dec 2017) ~ Barclaycard £4870 £4990(0% till Mar 2018)
    Virgin Money £4939 (0% till Nov 2018)
    Official DFW Nerd No 1310 - Proud to be dealing with my debt!
    NO MORE LBMs!!
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