NEW - pay off £20,000 (ish) by Christmas 2009

misselvis

I appreciate I am a little late in the game but I wondered if I could join the challenge as well. Have been making overpayments on my mortgage to clear some arrears and have increased the standing orders for my credit cards and loans so that I can make a large lump off my debts instead of coasting along and letting the interest swallow my payments. It has been a little tight but not obviously painful and I am attempting to get a balance in life and see everyone, it might be on a less regular basis though and much more low key.
so far this morning calcuated I have paid off £3300 towards debt including my mortgage

mortgage £180,000 monthly payments £1060 overpayments £1300
vanquis cc (evil!) £625 s/o £70
hsbc cc £2000 s/o £60
halifax £1550 s/o £70
additions direct £1200 s/o £100
student loans £1800 s/o £90
hsbc loan £13000 payments £209.

am totally ignoring the minimum payment and have used the snowballing calculator to work what I can pay so roll on the 20K challenge:beer: :beer:

misselvis proud to be dealing with my debt

brizzledfw

Hello - well done everyone esp misselvis - welcome! baby step for me today..another £123 but every little counts..

sarahs999

Well done Pania! That must feel really good.

Uniscots97

£104.98 paid off today!!!!

mumofcookers

Another £60 paid off today!!:D

mel19632

Well done Pania!! Can't wait to join you sub 20k

Gemmzie

We've only just hit the over the £1k mark but we have nearly £2.5k in savings so I'm happy for now

miss_corerupted

Just heard is was successful in buying the land behind my house for £5000. So that's another debt to be paid. I'm going to take the morgate of my target debts and put this on instead so my total will reduce a bit. But the good news is i'm now renting my house so the extra will pay more debts woohoo!!

lemma1968

Another £500 to the dreaded back tax.:mad:

I have updated my signature. Fairly happy with the way it is going. Still got a long way to go.:rolleyes:

Well done folks...keep on trucking;)

Batfink

Hello everyone,

I know....it's been *ages* since I reported in. But I've just this very second paid off the last payment on my HSBC Credit Card - and I cannot wait to clear it. This is the card which has caused the bulk of my problems over the last 4 years.

I got it when I opened the account, with a £5000 limit and spent like mad, so they happily upped my limit again and again to £10,000. I then decided to deal with my debts and they paid it off with a personal loan. At this point I asked for the limit to be put back down to £1,500 to avoid a repeat. Sadly, it didn't and I spent again, and they kept on putting it up and up until I owed £10,000 again. The interest rate at the start was 9.9% - it's now 19.6% which really spurred me to get going.

Anyway - long story short, I've just printed off a letter to cancel the card!!!

So - my ever nicer looking spread sheet says that I've now paid £5,587.74 off from this challenge, leaving me with £3641.35 left to find to complete my challenge and hit the big debt free day I've been building to for 4 years....

I don't think I've anything else left to sell now - so I might have to see what else I can do.

Keep it up everyone - we can do it!!!

x