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  • FIRST POST
    • flatbroke49
    • By flatbroke49 28th Aug 17, 7:51 PM
    • 41Posts
    • 84Thanks
    flatbroke49
    Flatbroke49
    • #1
    • 28th Aug 17, 7:51 PM
    Flatbroke49 28th Aug 17 at 7:51 PM
    I have posted a few times over the years and thought I would update to where I am now.

    I got into an incredible amount of debt years ago and entered into a dmp. With a guess it was probably about 70k. I have made my last full payment today and next month expect the last payment to be around £300. The journey has been hard and lonely as I didn't tell my husband about it, something I regret now, but as someone who has never had debt, I was afraid he would leave me.
    My main worry, as someone who has a quite severe health condition at times, was that I would have to finish work on ill health prior to the debts and mortgage being paid off. I have now set my sights on retiring in December 2019 when sh to have payment d my mortgage off for then by making overpayments. However I want to have a few months enjoying the money I will have from the dmp (£900) per month. I want to start enjoying life again, but still need to be disciplined to get the mortgage off, so will be coming on here regularly to keep me on the straight and narrow. Although I am delighted that the dmp is ending I am also,scared I will fall off the money wagon again, so all help gratefully received.
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
Page 1
    • flatbroke49
    • By flatbroke49 6th Sep 17, 8:39 PM
    • 41 Posts
    • 84 Thanks
    flatbroke49
    • #2
    • 6th Sep 17, 8:39 PM
    I have choices
    • #2
    • 6th Sep 17, 8:39 PM
    Well I have made my final full payment and it am just waiting to hear what I owe which I estimate to be around £220. So IV done it cleared nearly 67k debt and as you can see from my name it's taken me close to 8 years on a dmp. I cannot believe that it has come to an end - it seemed at tims that I would never be debt free, but I have. There have been a lot of lows during this period, dark thoughts as well, but I kept going and now here I am. Apart from the £220 I have no debts apart from my mortgage. Although elated, I am also scared of falling off the wagon again. It took me many years to accumulate the debt, and the same to clear it. However at the age I am now, 58, there will be no second chance. So I will keep posting, albeit irregularly just to keep myself on track. I want to have a great Xmas this year and then in January start on reducing the mortgage.
    What does being debt free mean to me?

    Choices and like many of you debt busters, whilst you are on this journey you lose the ability to have choices. Choice to do something spontaneous, choice to not always buy the cheapest, choice to have a few wants instead of just needs. Over the years I have lost many friends as I had to choose not to accept the invitation, not to meet for tea etc, not to participate in the cheeky weekend away with friends and colleagues, to the point that they stopped asking. However, I did choose to get myself debt free for my family and I have achieved that, and I am so proud as I did this alone. My husband is still unaware, something I regret, but I chose not to tell him about the mess I was in and as time passed it got harder to confess. The one lesson IV learned is that you need to share, with those you love and your friends, f they truly want you in their lives they will understand and help. Anyway enough of the maudlin, I am going to have a celebratory imaginary drink and celebrate a stress free, comfortable next stage of my life.
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
    • Nonnadiluca
    • By Nonnadiluca 6th Sep 17, 8:43 PM
    • 108 Posts
    • 855 Thanks
    Nonnadiluca
    • #3
    • 6th Sep 17, 8:43 PM
    • #3
    • 6th Sep 17, 8:43 PM
    Congratulations!
    • Purplemumof2
    • By Purplemumof2 6th Sep 17, 8:46 PM
    • 5,243 Posts
    • 18,375 Thanks
    Purplemumof2
    • #4
    • 6th Sep 17, 8:46 PM
    • #4
    • 6th Sep 17, 8:46 PM
    Congratulations x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7100.00 Cap 1: £533.40 BC: £5090.00

    AFD 0/10 NSD 0/10 LTW 0/10

    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 11 2018 #003
    • flatbroke49
    • By flatbroke49 6th Sep 17, 8:52 PM
    • 41 Posts
    • 84 Thanks
    flatbroke49
    • #5
    • 6th Sep 17, 8:52 PM
    I have choices
    • #5
    • 6th Sep 17, 8:52 PM
    Thankyou both for the congrats. I really don't understand why I am not jumping for joy, perhaps it's because it has come to the end. So plans for next payday

    Haircut and colour at hairdressers
    Buy some nice makeup
    Buy some Christmas presents for my lovely family, who although unaware have continued to love me unconditionally
    Start to donate small amounts again to local charities
    and to continue to be grateful for what I have always had which wasn't the stuff that got me into debt in the first place.
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
    • flatbroke49
    • By flatbroke49 7th Sep 17, 4:39 PM
    • 41 Posts
    • 84 Thanks
    flatbroke49
    • #6
    • 7th Sep 17, 4:39 PM
    Choices
    • #6
    • 7th Sep 17, 4:39 PM
    NSD agin today, £26 in bank and totally DEBT free!!!! Money has to last until the 26th but I have nothing to buy fingers crossed so should manage. Finally feel excited about being debt free.
    How things can change in an instant though, as today I was giving advice to a colleague who is seriously in debt but hasn't had her lightbulb moment. Told her to check this site for motivation and ideas. Hope she does!

    I had the best sleep in over 8 years last night and it was fabulous.
    Today I chose not to get a Costa coffee at work - well done me.
    I also chose to try and continue my no spend days as much as possible and have chosen to allow myself one treat when I get paid, using some of my now 'extra' money to overpay the mortgage. Finally I have chosen to continue this journey until the mortgage is paid off which may take 2 years.

    Many thanks to everyone on these forums for the inspiration, motivation and ideas I have received, even though I was a lurker. You have all contributed to changing my life
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 7th Sep 17, 7:18 PM
    • 1,901 Posts
    • 8,105 Thanks
    HairyHandofDartmoor
    • #7
    • 7th Sep 17, 7:18 PM
    • #7
    • 7th Sep 17, 7:18 PM
    Wow well done flat broke. What you've achieved is amazing you stayed strong all those years which is no mean feat.

    I expect you will feel more joyful when it really sinks in that you are debt free at last.

    You are right to be cautious with your spending as it would be awful to slip back into debt again. You need to find a new balance which will come in time.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £120
    • flatbroke49
    • By flatbroke49 7th Sep 17, 9:46 PM
    • 41 Posts
    • 84 Thanks
    flatbroke49
    • #8
    • 7th Sep 17, 9:46 PM
    • #8
    • 7th Sep 17, 9:46 PM
    Thankyou HHoD I really appreciate you taking the time to post.
    I will soon be 58 and aim to retire at 60. Although I am lucky to have a works pension a large proportion will be taken up clearing the mortgage. If I can overpay the mortgage I can enjoy my retirement with my little pot of money. However the pressure is now off me with the debts gone as if I really feel I need to retire early I will have the choice. This week though after reflecting on the tortuous journey to be debt free, I think the benefits of being mortgage free prior to retirement has become really appealing.

    Mortgage owed 33000 currently paying £735/month. Aim to make up to £1000 per month for next 12 month starting in January and then increase payments more if able to for last year of work
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
    • Narola1976
    • By Narola1976 8th Sep 17, 7:57 AM
    • 93 Posts
    • 276 Thanks
    Narola1976
    • #9
    • 8th Sep 17, 7:57 AM
    • #9
    • 8th Sep 17, 7:57 AM
    Absolutely very well done

    You should be incredibly proud of yourself....but I agree keep coming on here to help you keep perspective as it is so easy to slip back. Be realistic with your budget....give yourself a reasonable amount of fun money each month but when it's gone its gone. Have a look at YNAB. It's great.
    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)
    • flatbroke49
    • By flatbroke49 8th Sep 17, 5:36 PM
    • 41 Posts
    • 84 Thanks
    flatbroke49
    I have choices at last
    Thankyou so much for replyling, it does really help to keep me focus. You're right about the fun money, I just need to make sure that I don't take my foot off the pedal.
    Had another NSD today and so my princely sum of £26 is still untouched! Going to see how long I can last as it's 18 days till the next payday.....here's hoping x
    Looking forward to a lovely evening with the grandchildren, and realised that I might get be cash poor but I am very grateful for my lovely family which a lot of people don't have.
    Today I chose not to have a Costa coffee at work
    Also not to buy lunch or call for crisps and sweets on way home- go me x
    Did: 5/9/17. Total repaid £70000!!!!!
    Mortgage 1/9/2017 34000
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 17th Sep 17, 12:36 AM
    • 1,901 Posts
    • 8,105 Thanks
    HairyHandofDartmoor
    You have done so well. I think you are very wise to want to pay off your mortgage early. Keep posting on here to stay motivated and let your friends on here support you. We are all here because of our debts and we need to help each other to stay strong.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £120
    • louby40
    • By louby40 17th Sep 17, 7:48 AM
    • 1,161 Posts
    • 3,176 Thanks
    louby40
    Well done!
    Parent loan PAID IN FULL
    Emergency fund £670/£1000. Christmas savings £50/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Happierdays
    • By Happierdays 17th Sep 17, 8:18 AM
    • 147 Posts
    • 453 Thanks
    Happierdays
    Congratulations! your journey to debt freedom is inspiring and will in turn help others on here to see that so much is possible! Thank you and best of luck with becoming mortgage free too
    • UncannyScot
    • By UncannyScot 17th Sep 17, 11:19 AM
    • 723 Posts
    • 4,327 Thanks
    UncannyScot
    Congratulations
    I have a four year journey ahead of me and I have found folks on here have been and are
    Will follow your excellent progress
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • erin_transport
    • By erin_transport 17th Sep 17, 12:39 PM
    • 326 Posts
    • 1,557 Thanks
    erin_transport
    Just wanted to join in and say congrats.

    Well done
    :-)
    On a mission!
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 18th Sep 17, 9:03 PM
    • 1,901 Posts
    • 8,105 Thanks
    HairyHandofDartmoor
    You're so inspiring flatbroke . I hope to be debt free soon and after saving an emergency fund, I too would like to be focus on mortgage overpayments. It's amazing what can be achieved by small daily decisions not to spend. I'm quite excited about the journey ahead and feeling in control of my direction .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £120
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