New to board

debtfreein4years

Hi

Ive just had a ding moment where after basically spending all my free time on here reading other peoples inspirational stories I have decided to get my financial affairs in order.

As of 31st Oct this year, my credit rating was 452 which is horrible as I have a joint account with my bf and he has an impecable credit record and I dont want my credit messed up any further in case it messes his up.

I owe my boyfriend approx 8K, he took out a loan to clear my cc as I had had some serious financial problems earlier this year and this was the solution (it wasnt my totally fault - combination of ex flatmate stealing mail and phoning up and pretending to be me and cancelling dds for my cc and my bank messing up sending out my new debit card and cancelling my internet banking) we have a contract drawn between us so that if we do split I will still be liable for the loan. That loan has about 2 years 8 months to go at 253 a month.

I also have a loan of about 8K with the Bank of Scotland and I have about 3 and a half years left on that at 216 a month.

I also have a cc with Capital 1 with a balance of nearly 500 which is my limit.

An overdraft with Abbey of 450, an overdraft with bank of scotland of 200, and an overdraft with lloyds of 100.

so total

8000
8000
500
450
200
100

total £17,350 approx give or take last months payments.

I am also unemployed at the moment and my boyfriend is covering all my payments as this was a condition of me moving from Scotland to England and again we have a legally binding contract for this, and it includes a provision for me getting 50 a month towards travel for interviews and getting into town and 70 for any misc expenses that I have so that I dont feel the need to ask him for money all the time.

The contract also includes a provision for me trying to get a job as soon as possible which is a given and once i have a job it also provides for me to have 3 wages in order to sort myself out with work clothes and new glasses things that i have done without with for the past couple of years and am really needing new ones.

well thats my ding moment over and done with and im thinking of clearing my debts in the following order

1. bank of scotland overdraft (no money in or out that account)
2. Abbey overdraft (major complaint still ongoing with them and when reclaim bank charges eventually that should pay off my overdraft or leave me with a large credit balance as planning on clearing it before i get the charges back)
3. Capital One Card
4. Boyfriends loan
5. Bos Loan

then once i am debt free, I will be using the 500 a month extra that I have to pay my boyfriends car loan quicker.

I dont have anything to show for that amount of debt which is the kicker, I have a couple of nice handbags which i couldnt sell as they wouldnt fetch anything near what i paid for them (ive checked on ebay and im not selling them for a tenner each) and i have had a holiday to sydney, but that was paid for out of my 21st birthday money and i didnt take any credit cards with me.

ok ramble over and thank you for reading if youve made it this far.