Debt Free in 2009 support thread

BB_bunny

Hi to the newbies who have posted this arvo!! I've got a similar amount of debt that I am clearing in 2009... my totals are in my sig! Basically I am clearing every debt I have apart from my loan. I'm just under half way through my loan period now, so want to get all credit cards, overdraft and car finance clear so I can 1 - tackle my loan head on - I can't do overpayments so I am going to save a bit each month so I can pay it off earlier than the term, 2 - be able to start to put money aside to pay for our wedding (we're not engaged yet but have spoken about this), babies and a house deposit.

I have been re-looking through my finances today and I am now hopeful I will be able to clear my non-loan debt by August of this year... which will be just in time for Christmas budgets - and I will be able to contribute more to my savings account!

macgirl

Hello All and Happy New Year!

I'd like to join this challenge. I joined MSE in Jan 2004 with £6k of debt.
Now, 2 kids and 4 years later that figure is just shy of £16K!!!!!!! Gutted

This year I am DETERMINED to clear it, as we really want to move house early in 2010. Don't know how I'll do it, but gonna give it a damn good go!
Cheers
Macgirl x

Broken_hearted

Isn't time flying, January has lost three days already. Still loads of time though.

mizmir

Welcome macgirl - go for it. You have the perfect incentive to get rid this year. I am in a similar position in that we can't move until we've cleared the debt and OH has a new job starting in the autumn - so if we don't get debt free this year - we may be living apart for a while - at least during the week - that is my incentive!

mizmir

Broken_hearted wrote: »

Isn't time flying, January has lost three days already. Still loads of time though.

Oh don't! I have only one more day before I have to go back to work! :eek:
This holiday has gone so quickly....

utopiah

mizmir wrote: »

Oh don't! I have only one more day before I have to go back to work! :eek:
This holiday has gone so quickly....

I know what you mean, I have to return to work on Monday, at least it will keep me away from all those sales. I can resist, I CAN :rolleyes:

Pips_Mum

:mad:AAAAAGGGGGGGGGGGGHHHHHHHHH!!:mad:
Just logged onto my MBNA account and they have charged me £187 interest this month even though I havent used the card?
My minimum payment this month is £193:eek: so instead of clearing any debt I have actually added to it:(

mizmir

Pips_Mum wrote: »

:mad:AAAAAGGGGGGGGGGGGHHHHHHHHH!!:mad:
Just logged onto my MBNA account and they have charged me £187 interest this month even though I havent used the card?
My minimum payment this month is £193:eek: so instead of clearing any debt I have actually added to it:(

Ouch. Was the interest meant to be frozen? If so then you need to contact them and see what is happening. If not then it sounds about right for MBNA - their min payments are set to be very similar to the interest so you only pay off a few pounds a month if you only pay the minimum.. Is there any way you can balance transfer this one?

Pips_Mum

Interest rate is 2.5% per month, the highest of the lot I pay. Just tried transferring some of the balance to a lower rate (borrowing from Peter to pay Paul but best I can do at the minute) but it said check account number is correct so will have to try and call them tomorrow.

Feel like this at the minute :wall:

mizmir

Aw hugs Pips mum. Hope you manage to get a transfer done- even a bit would help.