Feel like I'm hitting my head against a brick wall!

Hell1

Hi everyone!:j

Had my LBM 2 years ago exactly when my debts hit £27000. Have worked really hard at it, and with ups and downs its now £7600. But... feeling that I can't get rid of this last lump! It's in the form of 2 loans that I can't overpay on, so was trying to build up savings so I could clear 1 entirely. However, that isn't working, - always something comes up that I have to pay out, it seems.

Shouldnt really moan, it should be paid off next year, but I was hoping to clear it by xmas.

After doing an updated SOA I have £227 "extra" PCM which I am trying to save, also have extra job which can bring in good money, but am thinking of giving that up. Anything from extra job went towards debts.

Oh don't really know why I am writing this, just feeling a bit down and wanted some advice on this stage of getting out of debt...

Hellxx

rog2

I think that anyone who manages to knock almost £20k off of a £27k debt in two years has done bl**dy well.
If there is nothing you can do about the loans that you can't 'overpay' then just keep up the payments until you can settle them. At least the 'debt' won't get any bigger.
Good luck.

Bismarck

You're looking at a mostly full glass and on seeing the bit that's missing from the top!

You've done really well...give yourself a break...not an expensive one though!

savingholmes

Hell1 wrote: »

Hi everyone!:j

Had my LBM 2 years ago exactly when my debts hit £27000. Have worked really hard at it, and with ups and downs its now £7600. But... feeling that I can't get rid of this last lump! It's in the form of 2 loans that I can't overpay on, so was trying to build up savings so I could clear 1 entirely. However, that isn't working, - always something comes up that I have to pay out, it seems.

Shouldnt really moan, it should be paid off next year, but I was hoping to clear it by xmas.

After doing an updated SOA I have £227 "extra" PCM which I am trying to save, also have extra job which can bring in good money, but am thinking of giving that up. Anything from extra job went towards debts.

Oh don't really know why I am writing this, just feeling a bit down and wanted some advice on this stage of getting out of debt...

Hellxx

I think you are really doing well. :T :A I would be tempted to keep the extra job until your debt was completely clear if you can cope with that. Also put the extra into an ISA sourced through quidco or something similar and get some extra cash back too. To motivate yourself why don't you join one or more of the following threads:

What small dfw things have you done today
£10 a day challenge
Olympian challenge

Hope that helps, don't give up you've done so well already.;)

Buffythedebtslayer

You have done BRILLIANTLY.

If you really did want to pay off the loans quicker do you think you could manage some thing scary like BT'ing to a 0% credit card? perhap after you had saved up so much of it first? I dont know if that is a completely stupid idea mind you, given that I had it I would becareful!

How did you manage to pay off so much so fast?

am deeply envious!

Hell1

Hi everyone:j

Thanks for your replies and advice. I think part of the problem is that I did treat myself and the kids to a holiday, and am now thinking perhaps I shouldn't have, its set me back, ect.

Buffy and Saving homes, I will be continuing with my extra job for a bit longer, to be honest without that I woudn't have paid off half so much... but it is a bit degrading at times, and although it's great money, can't really rely on it as fixed income.

Buffy, I am really stupid and don't really understand ccs. Can someone explain how it works???

Bismark you are right. Forever the pesimist!


Thanks
Hell.

get_me_debt_free

You have done brilliant, well done,Keep going and you will get there, x