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  • FIRST POST
    • Lucylocks
    • By Lucylocks 10th Jun 17, 11:00 AM
    • 92Posts
    • 198Thanks
    Lucylocks
    Tales from the debt side
    • #1
    • 10th Jun 17, 11:00 AM
    Tales from the debt side 10th Jun 17 at 11:00 AM
    Hi all

    After lurking for a few weeks I thought I'd take the leap into putting my own diary online. Long story short - I'm 40 next year and having been in consistently dreadful levels of debt since 18 I decided once and for all to address this like a grown up! From my lurking on this forum I know this as a lightbulb moment.

    So far it's all gone remarkably well although I am becoming entirely fixated on saving money - I'm sure everyone who knows me is by now thoroughly bored of my 'exciting' savings. I'm hoping my enthusiasm maintains long enough to substantially reduce if not clear my debts before the big 4-0. The thought of approaching my dotage reliant on borrowings is enough to scare me into taking drastic action.

    Our family is 2 kids - 14 & 12 so we have constant demands for iphone, trainers etc, DH who is self-employed and a dog. Our finances have always been a bit murky; I was always in debt due to having too much fun in my younger days, he never knew how much he was going to earn, chuck in a couple of kids and it's a receipt for disaster.

    On the plus side - last year we undertook a huge extension to our house which before that was utterly rank. So a lot of my card debts relate to purchases that we really didn't factor in. For once however I do have a few tangibles to show for by borrowings other than pretty shoes and bad hangovers

    At the start of this adventure in March I owed £24.9k, today it will be just below £20k due my new found scrimping skills and a PPI refund which has come through today. Hurrah!! I'm going to enjoy a couple of hours seeing funds in my saving account before I move this to the credit card - and dream of the day that I actually have a positive balance. That will also be the day I tell my current bank to 'do one'.

    So if anyone's interested and wants to hear my mundane money-saving wittering's please come along for the journey. Lord knows no one in my family want to hear about how much I've saved on my household insurance anymore!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
Page 2
    • Florence J
    • By Florence J 15th Jun 17, 7:00 PM
    • 1,560 Posts
    • 8,786 Thanks
    Florence J
    Good luck with everything, getting in debt changed my life, for the worse obviously but also in many ways for the better. I learnt so much and I couldn't afford to not learn those lessons.

    Being a MSE person does make people a bit obsessive, I talk about people I chat with on here as if I know them, and last night I had my first ever dream about this website!

    Good luck with everything.
    Sealed Pot Challenge 10 #553 (£90) Wombling free 2017 = £1257.28 Pay off all your debts by Xmas 2017 #53 (£2313.43/£3000) Debt to OH paid back £851.75/£1001.75
    July 2017 Credit Card Debt: £4519.44
    • Lucylocks
    • By Lucylocks 17th Jun 17, 9:28 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Welcome to the weekend everyone! Despite nothing seeming to go to plan I'm feeling remarkably chipper (probably the pills )

    Grocery budget is way WAY down this week mostly due to daughter school expedition thing which has necessitated lots of daft purchases such as blister plasters, camping meals. The weather probably means she'll cook but I've coated her in factor 50 and given her a hat. This is an exercise in total futility as she would rather surrender her entire worldly goods than be seen dead wearing a sun hat but at least I've appeased my parental conscience.

    So roughly I think I have about £45 to last the week; do-able but I need to remember not to follow my old habits of chucking same bits in trolley each week. The list is prepped and good to go.

    My latest PPI claim was rejected yesterday so I've sent appeal to ombudsman. Nothing ventured and all that jazz. Fingers crossed for positive outcome.

    Other than that I shall mostly be spending the weekend trying to tan out my strap lines for wedding in 2 weeks time. I a man looking decidedly 'strappy' and 'peel-y' neither of which is good when you need to frock up and pretend to be somewhat ladylike and refined. Must try harder.
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • natsplatnat
    • By natsplatnat 17th Jun 17, 10:53 AM
    • 2,588 Posts
    • 2,246 Thanks
    natsplatnat
    [QUOTE=Lucylocks;72710546]
    Other than that I shall mostly be spending the weekend trying to tan out my strap lines for wedding in 2 weeks time.QUOTE]


    This is my plan for the weekend too - although no wedding to attend, I HATE STRAP MARKS!
    LBM ,- Wed 19th Nov 2008 £21,225 PAID OFF
    *DEBT FREE 28th September 2015*
    *2017 cashback pending £4.37, paid £??*
    (2011=£137.30, 12=£66.39, 13=£102.61, 14=£214.97, 15=£159.51 16=£213.05)
    Pro.Ac £0.70 + £126.19 paid
    SAVINGS TO CLEAR STUDENT LOAN £0.00 (£528.56 paid off)

    • Mummy_bear
    • By Mummy_bear 17th Jun 17, 12:05 PM
    • 134 Posts
    • 551 Thanks
    Mummy_bear
    Hi, newly subscribed x

    As for the straps marks, I quite like them. Only because I never tan and so if ever I get strap marks I get excited

    Anyway, on an earlier post you mentioned feeling impatient mid month or something to that effect. I can relate so I've taken to try and earn money... Be that ebay, looking for pennies on the ground outside, or doing surveys. Keeps me motivated
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) £37139.86
    £3631.94/£37139.86 9.77% paid
    Estimated DFD JUNE 2020 (calculated July 2017)
    Debt Free by Christmas Challenge
    Total cleared £2409.09/£9091.72 26.49% paid
    • Lucylocks
    • By Lucylocks 20th Jun 17, 8:57 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Some rather excellent news to start the day. Upon checking my accounts (something I avoided entirely 2 months ago but now the preferred way to start my day) I have received a PPI rebate from bank of £4.8k!! This will reduce one CC to just over £700 and overall debt to just below £15k. Still a huge amount I know but psychologically it makes a HUUUUUGGGGEEEE difference. I feel now that the £1k I have a month to throw at the debt will actually make an impact now.

    In addition I have finally sold all tickets I was desperate to rid myself of. That means I have another £100 to put in my emergency pot. Not only have I reduced debt but I've managed to build £300 emergency fund; something I wouldn't have ever thought of doing without this forum - usually my fall back is credit card hence the mess I'm in.

    This forum has given me such a great lot of ideas and tips - thank you one and all. I still have a way to go but actually feel it might be achievable now!

    P.s. please PLEASE do check for PPI/bank charge claims. This rebate related to loans commenced in 1997 and finished in 2003. I never thought I could claim as I had long disposed of paperwork and it was so long ago.
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • clearmydebts
    • By clearmydebts 20th Jun 17, 9:17 AM
    • 6,073 Posts
    • 17,544 Thanks
    clearmydebts
    Some rather excellent news to start the day. Upon checking my accounts (something I avoided entirely 2 months ago but now the preferred way to start my day) I have received a PPI rebate from bank of £4.8k!! This will reduce one CC to just over £700 and overall debt to just below £15k. Still a huge amount I know but psychologically it makes a HUUUUUGGGGEEEE difference. I feel now that the £1k I have a month to throw at the debt will actually make an impact now.

    In addition I have finally sold all tickets I was desperate to rid myself of. That means I have another £100 to put in my emergency pot. Not only have I reduced debt but I've managed to build £300 emergency fund; something I wouldn't have ever thought of doing without this forum - usually my fall back is credit card hence the mess I'm in.

    This forum has given me such a great lot of ideas and tips - thank you one and all. I still have a way to go but actually feel it might be achievable now!

    P.s. please PLEASE do check for PPI/bank charge claims. This rebate related to loans commenced in 1997 and finished in 2003. I never thought I could claim as I had long disposed of paperwork and it was so long ago.
    Originally posted by Lucylocks
    That is amazing news! I'm delighted for you. I must look into ours but I don't have any account details on a loan we took out, does it matter? I know it was with RBS
    Total debt (starting September 2016): €22,999/€27,000
    BOI credit card: €6,000/€7,000
    Loan:€16,999/
    Savings: €600
    • Lucylocks
    • By Lucylocks 20th Jun 17, 9:33 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    I'd always thought I was too late. I cancelled all card PPI in 2001 and I no longer have any paperwork due to many house moves and the fact I hated everything financial so chucked it all. My breakthrough was when I read about reclaiming bank charges on MSE. I'd had the same current account since I started work and had always paid, what I thought was a relatively small fee (£8 or thereabouts). I actually have no memory of the account changing from the free U18 account to this so I thought I'd give it a whirl. Bank were great and gave me the date of changeover etc. The 'perk' of the fee paying account was AA breakdown cover, however at that time I didn't even hold driving license so could show it held no benefit for me. They refunded fees back to 2002 with interest. I figured if they had that level of detail I'd bash in a SAR and see what else they had. Lots it transpired. Including the original application form for the dreaded CC in 1997 and scant details of consolidated loans all of which had PPI. The CC complaint has been rejected but I'm currently appealing that one. I also claimed from old store cards and one of those was upheld.

    I think my case was helped with the bank as I still use them and therefore most records are still 'live' I know from the PPI forum in here some records are not kept after around 6 years. If in doubt submit a Subject access request at £10 or just give them a call. They should be able to trace through old addresses if you don't have account no's.
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Lucylocks
    • By Lucylocks 24th Jun 17, 11:20 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Right so the final 'big' shop of the month has been done - £50.75. Excepting any unforeseen spends next week that means my household budget should come in £100 underspent this month. I'm not lying when I say that this is the first time in the c. 7 years we've had this account that I've not resorted to topping up the household account with money from my personal account, so you'll see this is no mean feat!

    Depressing things this week - I'd brought my somewhat massive MasterCard down from over £9k to £707. I then realised that my even bigger Mbna was accruing interest on £4K balance at around 20% and the rest of the balance c. £7k was at 4.9%. So I've transferred balance to the m/card for 0% for 20 months. This cost 3% fees which has nudged outstanding debt back over £15k but it is payday next week so will be able to knock about £900 off the total debt and it buys me a bit more breathing space. Overall I know this is sensible but it's still a little disheartening.

    I'm already thinking about kids uniform for September. DD needs new blazer - last one has lasted 3 years so I've had money's worth. Rather than shelling out at the uniform shop (£57 ) I've found a school badge that I can sew on and a good sturdy John Lewis blazer for £26. This will save £26 which should cover her skirt and shirts. Now I find I'm questioning each and every spend I'm finding savings in places I don't never thought of.

    I'm toying with the idea of a payment break (just making minimum payments) in August. This would give me about £800 to spend on 2 weeks holidays. I know it'll push the DFD back a month but I think it'll be worth it. We've made serious adjustments to our household and it'll be nice to just be able to enjoy a couple if weeks away from work; I'm thinking of it as respite!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • dionysia
    • By dionysia 24th Jun 17, 9:12 PM
    • 63 Posts
    • 123 Thanks
    dionysia
    Congratulations on doing so brilliantly so far! Great news on the PPIs, so motivating to see big chunks coming off your debt early in the process.

    I think a payment break sounds good. You're planning and doing it with full awareness of what it means for your timetable which I think is the main thing. Debt repayment is a long process, for me I know I need to think about things like that which will make it sustainable for me as otherwise I'll just break one day and end up buying a pony or something.
    June 2017: owe £16,818.
    • Lucylocks
    • By Lucylocks 27th Jun 17, 8:42 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    The good news - MBNA card is now cleared (in fact is in £2 worth credit due to them taking the full 'minimum' payment after I'd done a massive bal transfer). 1 card down 3 to go!

    I've had to borrow cash from my savings pot as I anticipated that MBNA would still take the DD but tomorrow is pay day so I put cash back to savings and it will all even out. Still very, VERY happy that I even have cash available this late in the month.

    I'm planning my July indulgence - in dire need of new foundation. I am a bit of a stickler when it comes to foundation and concealer (both of which I use everyday). Have tried cheaper ones but they don't suit. Happy to compromise on powder, mascara etc but I find it false economy to spend £8 on foundation and then give it to DD and buy the more expensive one anyway. I shall enjoy mooching around the make up counters trying samples and hoping to pick up a couple of freebies on the way.

    Roll on tomorrow - I will be rich-ish for at least an hour before I start paying out on cards. Very much looking forward to this time next year when the debt will be almost gone (fingers crossed) and that money will be moving straight into my savings
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • dionysia
    • By dionysia 27th Jun 17, 9:16 AM
    • 63 Posts
    • 123 Thanks
    dionysia
    Well done on clearing the MBNA! So satisfying to see one knocked out.

    I agree on foundation - for most makeup there's very good products at the lower end (my Lipstick Queen lippies that were half as good but five times as expensive as my Rimmel favourites: j'accuse!) but foundation is worth spending on. And if a £30 bottle lasts 3-4 months worn most days it's not bad on a cost-by-use basis!
    June 2017: owe £16,818.
    • Lucylocks
    • By Lucylocks 4th Aug 17, 9:52 PM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    I'm back in the land of MSE!

    July felt really really flat. From reading other diaries, which I do religiously, I don't think I was alone in this. Payments still went out but no significant reduction over and above the usual. That said at month end I had cash left in household, spend to save and emergency accounts so clearly something is working.

    Anyhow all was going swimmingly; that is til today when I appear to have massively lost the plot moneywise. DS has been booked to go away with scouts for an age. That's all good, all paid for except spending money. I was waiting to see if weather perked up and maybe, maybe we could squeeze a small cheap trip to Cornwall as a family. Anyway due to the god-awful weather we've decided against that. So I felt sorry for DD. No summer holiday for her. That it until I woke up this morning and had the bright idea to google PGL last minute deals. 30 mins later she booked to go to France. DH has coughed up half so I need to pay balance. Paid it on CC (I know....) DH's half already paid off and I should have enough cash to clear my half in full this month before charges.

    So this last minute jolly obviously necessitates new clothes - duly bought - however fortunately she inky likes about half of them. Super cheap primarni shorts are definite winner! So trip back tomorrow for refund.

    I knew August would be struggle to make any debt dents with uniform etc and I haven't disappointed. Roll on September.....
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • LadyP01
    • By LadyP01 4th Aug 17, 10:12 PM
    • 63 Posts
    • 167 Thanks
    LadyP01
    Hey! New to your diary I'll try and pop by regularly. I'm
    Amazed by how quickly your paying everything off and getting your ppi money back, I know that takes time to do.

    Well done ��
    • Lucylocks
    • By Lucylocks 4th Aug 17, 10:23 PM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Thanks LadyP. I really want to be under £10k by new year. I know that's still a heck of a lot of money but single figures feels so my better than doubles. I try not to think of all the preeeeetty things I could have bought with PPI
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Lucylocks
    • By Lucylocks 5th Aug 17, 11:57 AM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Summer hell-i-days
    Right I am seriously considering a tumble off the MSE bandwagon. 14 y/o daughter is driving me nuts, my house appears to have morphed into Byker Grove and I'm overrun with other people's teenagers, mostly boys

    I've been google-ing posh sheds, cabins, garden rooms whatever you call them. Does anyone have one? Can I get one for under £2k that would be ok for pretty much all year round use? They're driving me nuts
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Purplemumof2
    • By Purplemumof2 5th Aug 17, 3:05 PM
    • 4,947 Posts
    • 16,040 Thanks
    Purplemumof2
    Right I am seriously considering a tumble off the MSE bandwagon. 14 y/o daughter is driving me nuts, my house appears to have morphed into Byker Grove and I'm overrun with other people's teenagers, mostly boys

    I've been google-ing posh sheds, cabins, garden rooms whatever you call them. Does anyone have one? Can I get one for under £2k that would be ok for pretty much all year round use? They're driving me nuts
    Originally posted by Lucylocks
    Byker Grove! Boy that brings back memories

    Well done on getting rid of MBNA
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7550.00 Cap 1: £557.64 BC: £4040.00 Overdraft: £2750.00



    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 10 2017 #003
    • drownindebt
    • By drownindebt 6th Aug 17, 5:02 PM
    • 30 Posts
    • 25 Thanks
    drownindebt
    How do I check if I had PPI? I keep closing credit cards I have, so probably don't have any records of old account numbers etc.
    -----
    Purchase Avios CC: -£665.66 / Balance Transfer CC: -£1675.98 / Personal Loan: -£18,093.67
    • Lucylocks
    • By Lucylocks 6th Aug 17, 5:10 PM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    If you know who lender was contact them with what info you had - name, address etc. If they still hold records (I think they're are required to maintain records for 6 or 7 years after account closed) they will be able to identify you. You could also check credit report as that goes back 6 years so may show old account details on there.

    Have a look at the PPI forum on here. I didn't find the members quite as friendly as debt free wannabes but they are a great source of advice. I did it myself saving any claims management fees and it was pretty straightforward
    • Lucylocks
    • By Lucylocks 6th Aug 17, 8:59 PM
    • 92 Posts
    • 198 Thanks
    Lucylocks
    Well today has been a sucess in that it's been a NSD, it feels like an age since I've had one. Desperately need to do supermarket tomorrow, I couldn't bring myself to contend with the crowds today. Mr A's is hell on earth on Sunday! I've pretty much exhausted even my emergency pasta supplies. Must take a list as one DC goes away on holiday Friday and the other on Sunday. I'm hoping this will make for a very cheap food week whilst they're away.

    Also it's my birthday this week - my plans are to have hugely lazy day, I'm threatening not to even get dressed! I'm hoping my lovely dad will give me a few quid (he usually does). For once this will go into savings and not be used to service debt. It's such a reassuring feeling to have a savings cushion rather than rely on credit cards. I sooooo wish I'd done this years back
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Scott_Weiland
    • By Scott_Weiland 6th Aug 17, 9:05 PM
    • 433 Posts
    • 823 Thanks
    Scott_Weiland
    Haha re Byker Grove

    Funny story re Byker Grove, i went on a dating website a few months ago i got a message off a lass on there who i am sure was Spuggy from Byker Grove.
    Debts 16346.30
    Cashback Earnings YTD £159.77 Survey Earnings YTD £365.60
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