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  • FIRST POST
    • Lucylocks
    • By Lucylocks 10th Jun 17, 11:00 AM
    • 25Posts
    • 59Thanks
    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 20/6/17 £14,948
Page 2
    • Florence J
    • By Florence J 15th Jun 17, 7:00 PM
    • 1,389 Posts
    • 7,641 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 = £851.64 Pay off all your debts by Xmas 2017 #53 (£1840.88/£3000) Debt to OH paid back £601.75/£1001.75
    June 2017 Credit Card Debt: £4750
    • Lucylocks
    • By Lucylocks 17th Jun 17, 9:28 AM
    • 25 Posts
    • 59 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 20/6/17 £14,948
    • natsplatnat
    • By natsplatnat 17th Jun 17, 10:53 AM
    • 2,555 Posts
    • 2,223 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 £46.29, paid £44.49*
    (2011=£137.30, 12=£66.39, 13=£102.61, 14=£214.97, 15=£159.51 16=£213.05)
    Pro.Ac £9.45 + £95.04 paid
    SAVINGS TO CLEAR STUDENT LOAN £0.00 (£528.56 paid off)

    • Mummy_bear
    • By Mummy_bear 17th Jun 17, 12:05 PM
    • 22 Posts
    • 55 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
    LBM May 2017 - Total Debt (not Including DH personal debt or Mortgage) £26157.37
    £732.66/£26157.37 2.8% paid

    Debt Free by Christmas Challenge
    Total cleared £364.17/£9091.72 4% paid
    • Lucylocks
    • By Lucylocks 20th Jun 17, 8:57 AM
    • 25 Posts
    • 59 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 20/6/17 £14,948
    • clearmydebts
    • By clearmydebts 20th Jun 17, 9:17 AM
    • 6,007 Posts
    • 17,407 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): €24,320/€27,000
    BOI credit card: €6,000/€7,000
    Loan:€18,320/ €20,000
    Emergency savings: €0/€1000
    • Lucylocks
    • By Lucylocks 20th Jun 17, 9:33 AM
    • 25 Posts
    • 59 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 20/6/17 £14,948
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