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  • FIRST POST
    • motivated
    • By motivated 28th Jan 17, 3:51 PM
    • 410Posts
    • 802Thanks
    motivated
    Debt Demolisher
    • #1
    • 28th Jan 17, 3:51 PM
    Debt Demolisher 28th Jan 17 at 3:51 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; 20-03-2017 at 6:55 PM.
Page 8
    • Bobarella
    • By Bobarella 16th Mar 17, 9:36 PM
    • 10,103 Posts
    • 64,643 Thanks
    Bobarella
    Your doing great. Keep going!
    £378 Debt free by 31/03/17 or bust
    Roadkill 17 £52.30 2016-£62.28 2015- £84.20)
    RYSAW17 £1475.90 2016 £2,535.16 2015 £1027.20
    PAYDBX 7 #£397/£760 to go!!
    NST March1 4/15
    • motivated
    • By motivated 17th Mar 17, 6:31 PM
    • 410 Posts
    • 802 Thanks
    motivated
    Fridaaaaay
    Weekend already wow time flies.

    Had a good day again today. Heard from BC today regarding 1 account. (We have 2) . Anyway when I logged into my BC account last night I realised they had added interest and a late payment charge Promptly got in touch with them with one of my intelligent letters and quoted lots of things that I learnt on the DMP thread.
    Reply today from them saying "all interest and charges refunded and all interest and charges stopped from now on" feeling quite chuffed at the minute.
    The second BC account has moved to missed payment today so it looks like this is the next one I will have to deal with. Bring it on lol

    Budget done for the coming week. Weekly things paid and monies shifted around the accounts, some added to my 2nd savings account which is building nicely, grocery money sorted although I don't need very much due to my Ocado delivery in the week. Still keeping the grocery money though and will add what I don't use to one of the savings accounts. Gas and Electric topped up and we are sorted for another week.

    This debt busting is becoming addictive.

    So far so good with our DMP, things are ticking along nicely and this has ended my week on a high

    Hope you are all looking forward to the weekend too.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • motivated
    • By motivated 19th Mar 17, 5:11 PM
    • 410 Posts
    • 802 Thanks
    motivated

    Second BC have replied and also said "late payment charge refunded and all interest and charges stopped from now on"

    Feeling smug again. I know I shouldn't be but at least I know that every penny I pay off my debt will reduce the balances from now on.

    Just 2 loans to deal with now, hopefully we will hear from them this week and they will go easy on us too.

    Sunday evening already it only seems like 5 minutes ago that I said yay it's Friday. Time flies when you're having fun eh

    Nothing too exciting happening here but at least things are calm and relaxed. Going to have a nice hot bath look at ordering mother in law some flowers for Mother's Day. Wish I could send my mum some sadly she passed away 19 years ago now. Feels like yesterday. and then find something decent to watch on TV. Just a chill out night I think.
    Enjoy what's left of the weekend people
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • boxofpaws
    • By boxofpaws 19th Mar 17, 7:20 PM
    • 334 Posts
    • 1,244 Thanks
    boxofpaws
    You sound so positive, well done on your successes with the two Barclaycards
    Debt 03/01/17 = £42000
    Debt today = £37924
    • motivated
    • By motivated 19th Mar 17, 7:59 PM
    • 410 Posts
    • 802 Thanks
    motivated
    You sound so positive, well done on your successes with the two Barclaycards
    Originally posted by boxofpaws
    Thanks BOP
    I also had a result with MBNA too
    Just Halifax to follow suit now I hope Fingers crossed I will hear very soon
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • motivated
    • By motivated 22nd Mar 17, 9:41 AM
    • 410 Posts
    • 802 Thanks
    motivated
    Hi all

    just realised I haven't updated my diary (smack on hand) time flies by so quickly when you're having fun

    Not much happening on the debt busting front to be honest, I will feel like I have actually done something with it on the 1st when my first payment goes to SC. Its sitting nicely in one of my savings accounts ready to be shifted back to the correct account for the DD.

    Struggling a little with budgeting. I have run low on funds this week. We have obviously overspent this week somewhere. We still have money to last until Friday but its less than I have had at this time of the week. Have lapsed this week and need to reign it in again. Will need to keep a spending diary to keep track of everything.
    I had the free trial of YNAB a while ago but I couldn't get my head around it. I know there are some on here that swear by it. Should maybe look into this again.

    It just goes to show how much we must of been spending pre LBM without giving it a second thought.

    Oh and yes I am supposed to be working at this precise moment, but no one is around and when the cats away

    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • motivated
    • By motivated 23rd Mar 17, 8:23 PM
    • 410 Posts
    • 802 Thanks
    motivated
    Wow another week gone, I'll be debt free before I know it at this rate

    Another budget to do ready for the week ahead and will be taking this one seriously. I may be being too unrealistic with it. I may drop the weekly amount I am sending to the savings account for yearly things, I think I am trying to run before I can walk to be honest. Will give it a try and see how it goes. Definitely need to sort it so as not to have to dip into our emergency fund unless it's a real emergency.

    Lots of housework to do at the weekend. Need to catch up on jobs that I have gradually let slip. I plan to write a list of jobs that need doing and work my way through it.

    Debt wise, I still haven't heard from Halifax regarding loans and if I haven't heard anything by Monday I may see if I can pluck up the courage to ring them
    I know SC would have been in touch with them by now, I suppose I am just looking for reassurance that they will accept the payment plan with SC and then I will know that all is in place and I can just work my way through it all via out DMP.

    Am off for an early night, feeling shattered tonight. Will watch a bit of TV in bed as this helps me to drop off.

    Night all
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • Treadingonplaymobil
    • By Treadingonplaymobil 24th Mar 17, 4:09 AM
    • 402 Posts
    • 2,595 Thanks
    Treadingonplaymobil
    I reckon it took me the best part of three months to get to grips with YNAB. A month of tracking spends, a month of attempting to budget and realising our numbers were wildly off, and a month of rejigging how we arranged our various on- and off- budget accounts/debts, dealt with cash withdrawals and allocated our savings pots. But doing all of that has been genuinely life changing and allowed us to get a grip on our debt in a way we couldn't have begun to before - we were so oblivious to our spending that I don't think we could have started to pull our way clear of debt without working through that process.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th February 2017/DFD: £67,031.92/1st December 2026
    debt on 6/3/17/DFD: £65,836.53/1st August 2026
    • motivated
    • By motivated 24th Mar 17, 6:52 AM
    • 410 Posts
    • 802 Thanks
    motivated
    Thanks TOPM
    I am going to look at YNAB again at the weekend give it a go and stick with it. If I get stuck I will give you a shout
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • motivated
    • By motivated 25th Mar 17, 9:10 AM
    • 410 Posts
    • 802 Thanks
    motivated
    The sun is shining today, what a beatiful morning and a lovely start to the weekend


    Debt wise nothing much happening. 6 days until my 1st SC payment goes. I'm actually counting as I'm anxious to get out the starting blocks. It makes me feel like I am in limbo as I'm just waiting for something to happen.

    I have also been looking at You Need a Budget, I had a free trial a while ago and it expired. To be honest I didn't do much with it it seemed too complicated. It says you have to pay yearly and it's in dollars. I think it works out around £36. Not too expensive I know but I'm a little hesitant whether to sign up just in case I waste my money. I'm in debt in case you wasn't aware


    Plans for today
    • Walk dog - Done
    • Laundry - Done
    • Housework - need to get motivated for this one
    • Clean bathroom
    • Ironing
    • Spend some time tidying the back garden. A chance to enjoy the weather
    • Look at sim only deals as I can upgrade now but want the cheapest deal out there.
    • MSE time
    • Need to clean windows but I hate that job

    Hope you have all got the sunshine too
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
    • foxyloxy11
    • By foxyloxy11 25th Mar 17, 10:09 AM
    • 187 Posts
    • 858 Thanks
    foxyloxy11
    I just use a book myself and work out my own budget system. I have done it for years. If you're reluctant to part with cash, start with paper and a pen. list all your outgoings/money coming in and work out what you have left. That is your budget. Then anything that goes in or out of your bank keep a record and make sure you add or subtract it from the budget. simples !!!!
    365 day penny challenge - £55.65/£667.95
    £1000 Emergency fund challenge #225 - £205.80/£650 Stage 1
    • motivated
    • By motivated 25th Mar 17, 10:37 AM
    • 410 Posts
    • 802 Thanks
    motivated
    I just use a book myself and work out my own budget system. I have done it for years. If you're reluctant to part with cash, start with paper and a pen. list all your outgoings/money coming in and work out what you have left. That is your budget. Then anything that goes in or out of your bank keep a record and make sure you add or subtract it from the budget. simples !!!!
    Originally posted by foxyloxy11
    I may well try this foxy. I've never been good with numbers hence the mess I'm in

    I have sort of a weekly budget. I pay our virgin TV weekly I pay a set amount each week then when the bill comes at the end of the month it's paid for.

    I top up our gas and electric on a Friday or Saturday pay the TV licence weekly and I pay for the groceries So I suppose it's sort of a budget. (DH gets paid weekly)

    I use my salary to pay for the SC payment and whatever's left I add to our emergency fund or the others savings account.

    I want to start saving for household things or even a short cheap break away ( would love to be able to do this one) so I may look at opening a third savings account for this and add whatever I can to it however small.

    I have a new notebook and pen set so I will use this to keep track of our incomings and outgoings. If I can do it without another bill to pay for such as an online budget then it can only be a good thing eh.
    M
    I have arrived in DMP Land and I like it. I may stay a while
    April 2017 £82,500 - DFD July 2024
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