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    • redondo12
    • By redondo12 10th Mar 18, 1:34 PM
    • 8Posts
    • 0Thanks
    Debt free by end of 2018
    • #1
    • 10th Mar 18, 1:34 PM
    Debt free by end of 2018 10th Mar 18 at 1:34 PM
    OK guys so here goes. My attempt at getting debt free without a DRO or bankruptcy etc.

    I have just started a new job and will be getting paid at the end of this month so can now look to start clearing my debts. I will start by clearing the small ones first and then moving on

    Currently I owe

    Personal loan - £2900
    CC1 - £190
    CC2 - £170
    OD - £650

    I am currently living with my partner and his family after moving out of my flat so that has cut my outgoings by £500 a month just on rent and council tax.

    My current monthly payments

    Car insurance and road tax - £82
    Phone bill - £40
    Loan repayment - £64
    Credit cards- £10

    All in all not bad. My plan is to cut my overdraft off by the end of the month and consolidate my credit cards by using an existing credit card that I haven't touched so far and pay the full statement in that when I get paid which will level things out as I really only need to spend around £450-£550 a month.

    I may just make the minimum repayments on my personal loan for the time being. I will keep updating this on a regular basis
Page 1
    • redondo12
    • By redondo12 10th Mar 18, 1:35 PM
    • 8 Posts
    • 0 Thanks
    • #2
    • 10th Mar 18, 1:35 PM
    • #2
    • 10th Mar 18, 1:35 PM
    I also forgot to add my income is around £1250 a month
    • Determined diva
    • By Determined diva 10th Mar 18, 1:41 PM
    • 611 Posts
    • 2,785 Thanks
    Determined diva
    • #3
    • 10th Mar 18, 1:41 PM
    • #3
    • 10th Mar 18, 1:41 PM
    Good luck!!
    Started again 25th December 2017
    Current tracking - £915.92/ £18,282.25 to pay off.
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