Coming up to the new year so new me any help welcome

shellnkeeley

Hi all, for the past few years I have been struggling to pay off the debts due to being bullied into paying more than I could afford, have now been to the CAB and they have sorted out a budget so I can live and pay the debts and not have to struggle so much, I have been selling on ebay and amazon, signed up to cash back sites and doing surveys but at the minute the bit of money I am getting is paying for very cheap xmas presents for everyone and that is my one last splurge before new year!! Starting January 1st every penny spare is going on repaying my debts, managed to make nearly £200 in the october £10 a day challenge and put that straight to the debt so that got one creditor completely cleared just 4 more and £3000 to go and another bright side is that my house is looking a lot less cluttered since I started clearing the junk onto ebay lol

Need all the help I can get so where better to look than to you lovely lot, want a proper plan so that it actually gets sorted and I stick to it so have a few questions, would it be better to put any spare cash I have in a savings account and then try to strike a deal to pay off debt with that or make smal payments here and there as well as what I have offered them each month? Also what is the best way to keep motivated so that I actually stick to this? Any help is more than welcome, this site has already been brilliant after seeing how far people can come

fatbelly

You have a brilliant attitude. Well done!

shellnkeeley wrote: »

would it be better to put any spare cash I have in a savings account and then try to strike a deal to pay off debt with that

Yes!

bathgatebuyer

Easiest way to stay motivated is to keep coming on here! It can be really easy to feel downtrodden when you're surrounded by people who don't have money problems (or just don't think they do). No one on here will offer anything but support and advice with the best of intentions - anytime of day or night too!

I have managed to get rid of £30K of debt in 3 years. I'm on my own too that has been solely my responsbility with no one else there to share the battles over money. learn to be able to say 'no' and 'can't afford it' to friends who will try and coerce you into nights out / lunches / shopping trips even though you can't afford it. Sign up with Valued Opinions and Yougov and take their surveys for some small rewards here and there.

Sounds grim, but it's not really!

shellnkeeley

thank you for the replies, at the minute lack of baby sitters means no nights out so instead of worrying about my non exostant social life i'm looking at it as money saving lol, wow £30k thats really good, it is much easier doing it by yourself as when I was with my ex whenever I had a bit of money spare he was skint and i'd end up lending it to him but not any more lol got to get down to the job centre again as they have cut my income support due to my ex supposed to be paying maintenance for our daughter and I'm not actually seeing anything, have been looking for part time work for months but even though I'm applying I either don't hear anything or get the standard you haven't been successful letters, going to keep trying though. My daughters even getting into it aswell and keeps bringing me things to put on ebay so she can get a new toy lol shes only 3 but its good to start em young, thank you again

edinburgher

Have you already posted a statment of affairs (SOA) shellnkeeley? A link to it would be very helpful for offering anything other than general advice. Or if you haven't done one, use the free calculator and we'll try and help you shave the debt fat!

shellnkeeley

right here goes with the SOA will give as much detail as I can

Income: £511

Outgoings:

Rent and CTB both paid in full with benefits
Water: £36 inc. arrears
Gas: £32
Elec:15 (just switched to save money)
Housekeeping: £216 (long story but basically last week of the month I fill the freezer and then the rest of the month buy as I need things so its not this high but the CAB told me to overestimate it as its better to make sure I have enough to cover essentials, what is left over from this will be put aside in the savings account)
TV License: £11
Travel: £64
Clothing: £35 (don't spend this much but again the CAB has a guide to how much should be spent on clothing but before I did this budget that was going on my debt)
Phone: £37.50 this includes my package with tiscali for the broadband and phone line and my mobile contract
Childminding: £3 (school govenors fee, £30 a year)
Car insurance: £31
Tax: £10
Car Maintenance and Mot: £5 (my dads a mechanic so get all the work done on the car for free)

Total: 496
Surplus: £15

Payments to debt
Natwest Loan £7.30
Overdraft £1.86
Barclaycard £2.90
Capital one £1.94
Provident £1

for the minute the amount being paid off the debts looks small but at least I can manage to pay it without fail every month, any spare money I have will be going into my savings account and once I have a decent figure in there I will pay a chunk of the debt, already made a start I counted £15 of change from my change pot today so that went straight in there, not much but its something, I am also in the process of trying to claim back CC and bank charges which if I could get them back would virtualy wipe out the majority of this but I won't count on that til its in my hand

shellnkeeley

After asking for copies of what i have been charged by the CC companies they both came back and said that they are having trouble finding any records as they are both with DCA, is there any way to use this to my advantage if they can't find the info? by that i mean paying a smaller percentage for full and final payment as they probably can't prove how much I do owe, I know full well (depending on which way you look at it though, which gets paid first the money spent or interest and charges) that both have been paid the full credit limit that was on the card and now i am paying back the charges and interest. If not though they have both accepted the lower offer of payment on the accounts so at least they will get something,
On a good note I have saved £36 of my weeks money this week and thats with bills come out and a few xmas presents bought so thats going into the savings account monday, I don't know whats happened to me lately but I have managed to walk past shop windows and resist the temptation to look in the sales lol this time last year xmas was paid for on credit and I am still paying it back but this year I have only spent what I can afford and I am so much better off for it, feeling very proud of myself today lol