Can I clear a debt a month??

Cerbera_2

Just saw this, good luck with your goals Emily, hopefully 2006 will be your year
:j :j :j :j

wattapain

Fantastic, what a great start to your new year.

:beer: :T
Terri

bank_of_slate

Hi Emily, well done!

Not only have you successfully got the allowance that you deserve, but you have set to and really tackled your situation with vigour!

You deserve all the luck in the world, keep posting on here as everyone is so great and we all want to help each other.
...Linda xx

inkie

Hi Emily

Good on yer girl for being so focussed - I applaud you!

Something else for you to think about is to look at budgeting and other ways that you can cut back (the OS thread will come into it's own here), this means more ways to free up cash to throw at debts, and also to prevent any further future debts.

Keep us all posted!

ehallett

My auctions on Ebay have just finished and I got the grand total of £404.25!!

I'm so pleased - I can put some of this towards my next debt target now.

Speaking of my next debt target - the debt that I will pay off by the end of February is an Alliance and Leicester loan. The loan was originally for £2,000 and I have got approximately £600 - £700 remaining but I have got to ring them tomorrow to find out exactly how much.

I want to pay this debt off as the monthly repayments are £111 and this could be used to pay off other debts so I would love to clear this debt once and for all.

I'm glad that I have got a head start on this and with my Ebay sales, I have already got nearly half of what I would need. I will update this when I know the exact amount and the amount that I have already got to put towards it.

Thanks for all of the encouragement you are giving me - it's keeping my motivation going. Here's to the end of February and another debt cleared!!

skintchick

Well done! That's fantastic! Keep it up and keep telling us what you're doing. You're an inspiration!

kate1976

Well done you. Keep up the good work!

Kevicho

Re paying off the loan, i know it would be good to clear quickly but make sure it is worth paying it off (ie no huge early payment fees), as that money is better in your pocket and there is 7 months left which means it will be paid this year anyways

loubie_lou

What other debts do you have emily?

ehallett

Thanks for all of your kind messages. When I telephoned the Alliance and Leicester today, the woman was a little suprised that I wanted to pay it off as I only had until August to go. The thing is that if I pay this off now then I will a) be freeing up £111 a month to throw at my next target debt and b) I will save a bit in the interest that I am charged.

Anyway, she said that if I pay this off by the end of this month (not much chance) then the amount is £761.96 and if I pay it off by the end of February (this is my likely target) then I need to pay £650.07.

So I will need to find £650.07 before the end of February. I'm glad that I have got over a month and a half to sort this one out and who knows, I might just do it early again!!

I have tried many times to tackle my debts and have never succeeded - I get bored for some reason. However, I am finding this challenging method is keeping me motivated and excited about clearing my debts. I am not getting bored and am looking forward to having one less debt a month and one less direct debit a month.

I will post again with my progress soon and hopefully will have some money to put towards it already.

Best wishes

Emily