How I'm taking control of my £164,893 debt

gingernutbizkit

Thanks justruth

gingernutbizkit

Hi all,

SOrry I haven't been posting much recently - thought I had better post an update.

Today I stopped being an Overpayment Virgin :j. I am now in the position where I can slowly repay my other debt and focus on my mortgage overpayment - I have money on two 0% credit cards and my student loan reminaing. I therefore contacted my mortgage advisor and have asked to increase my monthly repayment by the £500 I am allowed to overpay without charges :T.

Still determined to get my total debts down to just my mortgage by the start of december and so far I'm about £3500 ahead on my spreadsheet plan :D:D.

On a personal note I'm currently looking at going back to uni to get my degree. Part time it will cost approx £1500 for two years but should get me extra earning potential in the long run. We're also thinking about taking another foster child and, although finances aren't at all a part of the decision, if we did then it would make a significant difference to the amount we could pay off each month.

Ging x

justruth

Hey Ging,

Fostering is such a valuable thing to do, and yes as a mature student I really do support the idea of going to uni.

It's great news about the mortgage overpayments and I am sure that you will have the lot cleared in no time, just be sure to clear the CC's while they're 0% as you never know that you will be able to get another deal once it runs out!