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  • FIRST POST
    • motivated
    • By motivated 28th Jan 17, 4:51 PM
    • 2,273Posts
    • 3,391Thanks
    motivated
    Debt Demolisher
    • #1
    • 28th Jan 17, 4:51 PM
    Debt Demolisher 28th Jan 17 at 4:51 PM
    Hi MSE ers

    Have plucked up the courage to admit that I cannot cope financially.

    Long story short. We are £82,590 in Credit card and Loan debt basically spent on nothing but shopping, holidays, clothes and household things.

    We are not in arrears or any CCJs at present but fear this will not last.

    I completed the step change debt remedy tool thing today and it advised me to ring them on Monday Petrified at the thought of phone calls, bailiffs at my door and threatening letters etc. I don't even know what to expect about the process etc.

    What do I have to show for it all NOTHING

    So angry with myself but I do feel a little easier as it seems I have woken up and am willing to face it all, pay it all off and remove a lot of the stress I have every month.

    Myself and My OH both work and are both willing to pull together to sort this sorry mess out. I am hoping that keeping a diary and soaking up some excellent tips and advice will see us through to the end.

    I have seen some excellent advice and encouragement given on here and have thoroughly enjoyed reading all of the advice and diaries.

    One day I will be advising others (I hope)

    Please be gentle with me
    M
    Last edited by motivated; 30-05-2017 at 10:33 AM.
Page 19
    • motivated
    • By motivated 27th Aug 17, 1:00 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Afternoon all

    We have sunshine . I am about to venture out the garden and do some general tidying. I should make the most of the nice weather as I go back to work on Friday . As much as I moan I do like the routine when I'm back at work. Being at home makes me a little lazy

    Debt wise, I'm still plodding along. DH wanted to go to bingo but I reminded him that we would spend lots of money there and if we won it would only be around £25 a £50 not vey
    We decided against it ( well I convinced him)

    Managed to add some more to my EF and when payday comes it will be up to its target (ish) I'm going to try and add a few bits and pieces to it in the next couple of weeks too.
    I'm itching to get this up and then I can really start to make some vast improvements to the other smaller accounts.

    My aim is still Christmas to have all accounts at their targets and if I stay on track and focussed we should be able to do it. It works out on paper so I know it can be done. Just need to watch the spends.

    Budgets done this week and groceries came in slightly under budget so another bonus there. Have lots of freezer food so will be meal planning for the week and try to avoid any top up shops.

    I have lots of stuff to sort out to so may find some eBay items and I currently have £15 in surveys that I will be withdrawing
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • boxofpaws
    • By boxofpaws 27th Aug 17, 2:18 PM
    • 404 Posts
    • 1,735 Thanks
    boxofpaws
    Its a lovely day here too. So I am inside, on MSE debt free diaries.


    Good to see you maintaining your focus, and being strong against the call of the bingo (love bingo!)
    Debt 03/01/17 = £42000
    Debt today = £31900
    • motivated
    • By motivated 27th Aug 17, 4:29 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Its a lovely day here too. So I am inside, on MSE debt free diaries.


    Good to see you maintaining your focus, and being strong against the call of the bingo (love bingo!)
    Originally posted by boxofpaws

    Hi BOP

    I love reading the diaries. It's amazing how many tips I learnt. I read someone's ideas for debt busting and then I steal them
    The inspiration I get is amazing too
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 30th Aug 17, 7:51 AM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Morning world. A damp, miserable day here today. The weather not me

    Not much debtbusting news to report just that I've withdrawn £11 from PA with another £6 pending. That will be added to my EF when it arrives. Which I might add is still on track to reach target by the end of September

    I sat yesterday with good old pen and paper and wrote down everything that we pay out monthly. Seeing it in black and white seems to make it more clearer in my head. The dates that I will be adding to my EF are also written down, this tells me that I will reach my goal by the target date. I will do everything I can to make this happen as it gives me such a boost when I see a plan coming together.

    I have joint the PAD thread and will be trying to make small extra payments as well as the monthly one to my target debt. This is the smallest one we have and want to get it cleared ASAP. It's not gaining any interest but this will be another boost for me. Once cleared the money will be allocated elsewhere.

    MOT is due on the 30th September and I'm praying that we don't have to spend a fortune on the car. DH is going to check a few things on it before it goes in. (That means he will kick the tyres and lift the bonnet and just look whilst holding his tea)

    Back to work for me Friday I have already planned my lunches for work everyday as my diet has been ok recently and I need to stay focussed with this too. I will need to get back on track with meal planning for home too.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 30th Aug 17, 6:11 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    I have now cashed out £17.10 from PA. Hopefully the surveys keep coming. Will be adding this to my EF . Every little helps
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Narola1976
    • By Narola1976 7th Sep 17, 7:13 AM
    • 97 Posts
    • 276 Thanks
    Narola1976
    Hi Motivated...just stopping by to see how you are?
    HSBC CC £7150.15 - £6524.68 ~~~ Barclay Card £7894.74 £7846.32 ~~~ MBNA 1 £10382.67 - £10272.67 ~~~ MBNA 2 £7214.28 - £7062.94 ~~~Argos £202.05 - £100.05 ~~~ HSBC Loan £399.27 - £0 ~~~ Hitachi Loan £24.12 - £0 ~~~ Car Loan £14745.60 - £14008.32
    TOTAL £48012.88 - £45814.98 (Paid £2197.90 so far)
    • motivated
    • By motivated 7th Sep 17, 2:39 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hi Motivated...just stopping by to see how you are?
    Originally posted by Narola1976
    Hi Narola and thanks for popping in.

    I haven't been updating my diary as im back at work and the shock is killing me

    Not much debt busting news but im looking forward to payday so I can make my EF up again. This feels like its taking forever. I know its not but it just me being impatient again. I have 7 days to payday (not that im counting)

    Hope everyone is well.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 17th Sep 17, 11:23 AM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hi all

    I haven't updated recently as I didn't really have any good news. Until now

    I now have an emergency fund

    I have finally got it to where I wanted and also have my Christmas money. I am half way through my car tax and insurance money and will be adding some more to this when DH gets paid

    My plan is coming together now and by Christmas I will have 3 out of 4 accounts at their target balances. The fourth one is my F & F account that I will be adding to as I go along. Once I have the car account at its target I will be able to add higher amounts to it.

    January will be a new year, new start and some serious debt busting will be on the cards . I will only need to add smaller amounts to the car and Xmas accounts as I will have 11 months to build them up again to when we will need them again. PHEW!!! The relief I feel is amazing and with continuous planning, budgeting and discipline we will start the new year on a high.

    Looking back to January of this year and I was in a right state, not knowing where to turn and constantly stressed at having no money. It is this site and the fantastic support of everyone on here that has seen me right. Thankyou to all who have spurred me on and supported me on my still very long journey
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Narola1976
    • By Narola1976 17th Sep 17, 5:20 PM
    • 97 Posts
    • 276 Thanks
    Narola1976
    That's fantastic.....very well done. It's all coming together.
    HSBC CC £7150.15 - £6524.68 ~~~ Barclay Card £7894.74 £7846.32 ~~~ MBNA 1 £10382.67 - £10272.67 ~~~ MBNA 2 £7214.28 - £7062.94 ~~~Argos £202.05 - £100.05 ~~~ HSBC Loan £399.27 - £0 ~~~ Hitachi Loan £24.12 - £0 ~~~ Car Loan £14745.60 - £14008.32
    TOTAL £48012.88 - £45814.98 (Paid £2197.90 so far)
    • motivated
    • By motivated 17th Sep 17, 5:38 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Thanks Narola

    Look how well you're doing too . Stick with it and we can help each other across the finish line. By then I will be hobbling across but we will get there.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • arsenalbarnie
    • By arsenalbarnie 18th Sep 17, 8:22 AM
    • 239 Posts
    • 1,419 Thanks
    arsenalbarnie
    Well done you, what a difference and it's down to your hard work. I could do with some of your 'motivation'. So glad you're back on the dmp, it seems to 'suit' you. Stay positive
    • Cherryfudge
    • By Cherryfudge 18th Sep 17, 8:45 AM
    • 899 Posts
    • 3,682 Thanks
    Cherryfudge
    That's great news - well done! As arsenalbarnie says, all down to your hard work.
    • motivated
    • By motivated 18th Sep 17, 6:28 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Well done you, what a difference and it's down to your hard work. I could do with some of your 'motivation'. So glad you're back on the dmp, it seems to 'suit' you. Stay positive
    Originally posted by arsenalbarnie
    That's great news - well done! As arsenalbarnie says, all down to your hard work.
    Originally posted by Cherryfudge

    Thankyou both. It hasn't been plain sailing and I've had many a wobble along the way so far I can tell you

    It does feel good to know that I have my finances sort of in order. Apart from the overall debt. Having different accounts for different expenses is what's kept me on the straight and narrow so far. It helps me to stay focussed now as I have my yearly accounts sorted and a plan in place to start them off again after Christmas.

    And not one CC in sight . My only regret is not realising this years sooner as I wouldn't be in this mess, but I'm putting it down to experience and battling on with it all.

    I have accepted that I'm in it for the long haul and will need to plan constantly in order to keep me going in the right direction.

    I've just realised I always say "me". When in fact it should be us. My DH is happy for me to organise and deal with it all and he just says well done now and again. At least he is taking part too.
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Happierdays
    • By Happierdays 18th Sep 17, 7:19 PM
    • 153 Posts
    • 452 Thanks
    Happierdays
    Hi you are doing great...and you've reminded me I must sort different accounts for different things- many thanks and best of luck with your onward journey!
    • motivated
    • By motivated 18th Sep 17, 7:59 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hi you are doing great...and you've reminded me I must sort different accounts for different things- many thanks and best of luck with your onward journey!
    Originally posted by Happierdays
    Thanks Happierdays

    The separate accounts have been a Godsend to be honest. I opened them online through my bank and transfer regular amounts into them. I have a yearly car tax and insurance one. A Christmas one. A F&F settlement one and an emergency fund one. It just seems easier to keep track of our finances. Says me who's in debt up to my eyes At least I'm smiling about it and not pulling my hair out every day.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 21st Sep 17, 6:48 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hi all

    Just updating again. I now have 4 accounts With money in each, 3 are at their targets

    I also now have some funds in the F & F account. Not a huge amount but it's a massive achievement for us.

    The car tax and insurance isn't due until Feb/March but knowing we have the funds ready and waiting is a good feeling. Christmas spends are ready and waiting too. This is an absolute first for us.
    The EF is staying right where it is until needed. Fingers crossed not for a while but at least it's there.

    Have done the weekly budget and have a set amount for groceries this week and will stick to it like glue. I need to forget about the money in the other accounts for now and get cracking on building up the F & F account as much as possible. First of all I plan to tackle the short term goal and would love to get this paid off by Christmas. With careful planning and more budgeting it could be possible. This is an overpayment of a tax something or other from DHs years ago. We knew nothing about it until it reared its head. I tried to dispute and discovered it can be chased legally after however long so hey ho. We've been paying it down monthly but now I want to chuck as much as possible to it to get it gone. Things like this is what keeps me motivated. We pay this by standing order so it's easy for us to up the payments. I will look at budgets and see just how much we can throw at it.

    Bit of a rambling post but feeling quite proud at the moment as we haven't used a CC for months and months
    M
    Last edited by motivated; 21-09-2017 at 8:38 PM.
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 22nd Sep 17, 7:31 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    DH took our car today for MOT. It passed with no work needed. . DH had already checked a few things, like men do, kicked the tyres and bounced the bonnet a bit

    Very pleased about this as I was thinking it would need money spent on it. Another plus there then.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 26th Sep 17, 6:47 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hello diary world,

    Things are still plodding along here and I've actually started Christmas shopping It's never been known. I'm certainly not going overboard and have asked DD and DS what they would like. I've told them how much money they have to spend and it's non negotiable.

    I have the money saved and it will be the only Christmas (that I can remember) that I haven't bashed the CCs to get what I wanted/needed. We are eating out this year too so no cooking for me This is also being saved for. This is also a first for us.

    Looking forward to payday so I can pay some more towards our short term goal to which I have now Changed the standing order to a lower amount weekly and will pay a bigger sum on payday. I like doing it weekly too as it makes me feel better and I don't have to wait until payday every month to feel like I'm driving it down.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Chrystal
    • By Chrystal 11th Oct 17, 2:40 PM
    • 114 Posts
    • 673 Thanks
    Chrystal
    It sounds as though you've really got your head around sorting things out..... well done you!

    Brilliant that you won't need to use the CC for Christmas - why do we do it when we KNOW we'll be paying for it long after next Christmas

    Keep on Keeping On X
    GC. Oct.17 = £261.18/ £300 = + £38.82 NSDs 20/31
    GC. Sept.17 = £354.89/£300 = - £54.39

    • motivated
    • By motivated 16th Oct 17, 8:39 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    Hey all

    Just noticed how long itís been since Iíve updated. Just a random one really so I donít let my diary disappear completely. Life just tends to get n the way.

    On the debt front we are more or less at the same place. Just plodding along with token payments for now. However Halifax have now passed our accounts over to a company to deal with on their behalf. We are just waiting to hear from them.

    MBNA are about to default us and BC have already done so.

    A few months back I wouldíve been petrified at the thought but now Iím actually willing it to happen.

    Anyway my plan is to still carry on until just after Christmas and then I aim to start the new year with a new set of goals, a new set of repayment offers and a new busget.

    This year really has been about accepting that we were/are in financial disaster and getting creditors to work with us in order for us to pay it all off at a more realistic amount and me being able to hang on to my sanity (just)

    Hopefully my plan will all come together
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
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