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DFW - getting there !!
steve0793
Posts: 29 Forumite
Hi, Im quite new to the site, but have found it useful, beyond all belief. Until 3 months ago, I didnt even know how much debt I had - classic "burying my head in the sand "
I started off by reading a lot on reclaiming credit card and bank charges - I was amazed to find out that around 75% of my debt was due to credit card fees - late payments, missed payments etc......
I have now reclaimed £9400 in credit card fees (Abbey, Vanquis, Halifax, Barclaycard and Citi) - my debts are now down to a little over £3000.
I only now have a BCard account, which I am on a payment plan with, only paying £75, but with what I have saved/would have been paying on the other cards, my intention is to pay them back at the rate of £300 a month - debt free within 10 months.
Clearing the other debts has also had a positive impact on my credit score - its still "pants" due to defaults (more burying my head in the sand) but the score has improved quite a bit.
For the 1st time in years and years, I feel a lot more positive about things and am actually now managing my money - without this site I would have been paying back debts for years and more than likely getting further into debt !!
I started off by reading a lot on reclaiming credit card and bank charges - I was amazed to find out that around 75% of my debt was due to credit card fees - late payments, missed payments etc......
I have now reclaimed £9400 in credit card fees (Abbey, Vanquis, Halifax, Barclaycard and Citi) - my debts are now down to a little over £3000.
I only now have a BCard account, which I am on a payment plan with, only paying £75, but with what I have saved/would have been paying on the other cards, my intention is to pay them back at the rate of £300 a month - debt free within 10 months.
Clearing the other debts has also had a positive impact on my credit score - its still "pants" due to defaults (more burying my head in the sand) but the score has improved quite a bit.
For the 1st time in years and years, I feel a lot more positive about things and am actually now managing my money - without this site I would have been paying back debts for years and more than likely getting further into debt !!
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Comments
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What marvelous progress - Very well done
:T :T :T :T :T£34,547 (Dec 07); Current debt: £zilch (Debt free December 2010)
Sealed Pot #389 (2010=£133)0 -
Fantastic~Well done you!I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 20 months left.0
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