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  • FIRST POST
    • Maccydu
    • By Maccydu 15th Apr 10, 9:37 AM
    • 55Posts
    • 124Thanks
    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:£19,018.19 - 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362.00
    Now: £13362 Debt Free Date: XMas 2018
    Amex £3246.40 £3433 (0% till Dec 2017) ~ Barclaycard £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
    • 55 Posts
    • 124 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:£19,018.19 - 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362.00
    Now: £13362 Debt Free Date: XMas 2018
    Amex £3246.40 £3433 (0% till Dec 2017) ~ Barclaycard £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
    • 934 Posts
    • 422 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
    • 4,568 Posts
    • 14,488 Thanks
    Purplemumof2
    Hi Maccydu,

    Welcome back x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7800.00 Cap 1: £420.00 Overdraft: £2750.00

    Lunches to work 5/25 ~ £10pw 2/5

    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 10 2017 #003
    • Maccydu
    • By Maccydu 13th Jun 17, 8:52 PM
    • 55 Posts
    • 124 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:£19,018.19 - 3rd LBM 10/06/2017 Debt at 3rd LBM:£13,362.00
    Now: £13362 Debt Free Date: XMas 2018
    Amex £3246.40 £3433 (0% till Dec 2017) ~ Barclaycard £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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