Too scared to work out what I owe



  • moozie_2
    moozie_2 Posts: 3,063 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Well, I've added everything up and even had a long bath to help me calm down.

    The total figure I owe is £32,432.94 :eek: or £4,392.06 without the two loans. I can't say that's what I expected or not as I really had no idea. It just seems like a huge task and no idea how to tackle it (except the Barclays sole account OD and the Barclaycard)

    I feel really num right now. I think that's enough for me for one day. Thanks for all your helpful advice and support. Hope to carry on with sorting everything out tomorrow.
    Leason learnt :beer:
  • Frugal_Fox
    Frugal_Fox Posts: 1,002 Forumite
    moozie wrote:
    I've started by putting figures against the list I put down earlier. Here it is now:

    You know, I just realised I've written it all down but not added it up or thought of how to tackle any of it. I'll do the adding up now...

    Firstly - check all of the interest rates on your debts. If you need to - call the companies. Make sure you are clear on what the APR is for each one.

    Then go to a snowball calculator which will help you prioritise which debts you pay, and will also give you some light at the end of the tunnel. If your 'debt free' date is not something you are ready for yet - thats okay, but bear the site in mind!

    Thirdly, use the money in your ISA and your £2 savings and get rid of at least one creditor. If you are saving your £2 for something specific - how important to you is it? Would you feel more positive using it to pay off a debt? You are now calling the shots - if you don't want to use your ISA and / or £2 savings - fine, don't !! ;)

    Please - if nothing else - continue to post, you will find it oddly rewarding, and check out the snowball calculator. I delayed doing mine and found that I hadn't prioritised my debts correctly (I'd generated a spreadsheet to keep me on track, but was not paying the right debt off first), the calculator helped me shave 10 months off my Debt Free Day!

    Good luck and remember we are here with you.
    "A simple life freely chosen is a source of strength. Do not be pursuaded into buying what you do not need or cannot afford." Quaker Faith & Practice 1.02.41
  • Hi moozie,

    I've just read through this thread and seen your progress.

    I couldn't believe when I checked back that your first post was only just over 24 hours ago. You really have taken control of your debt. Well done! :j

    I can't add anything to the advice already given. You know that you now have to look at your expenditure and see where savings can be made. Then those debts will start their journey to zero.

    I am basically now debt-free (mortgage of about £550 which I could pay off tomorrow if needed) but I remember when I first realised I needed to start tackling my debts. I didn't know about this site and took a long time to come to terms with my situation.

    I'm impressed with the progress you've made. Just wanted to say that the light at the end of the tunnel might seem small now but it will eventually expand into the most beautiful landscape you could possibly imagine.

    Good luck on your journey, you deserve it!
    If it’s not important to you, don’t consume it
  • Frugal_Fox
    Frugal_Fox Posts: 1,002 Forumite
    Just wanted to say that the light at the end of the tunnel might seem small now but it will eventually expand into the most beautiful landscape you could possibly imagine.

    What a beautiful saying - certainly gives me renewed hope! Going to put it in 'debt folder' if thats okay?

    "A simple life freely chosen is a source of strength. Do not be pursuaded into buying what you do not need or cannot afford." Quaker Faith & Practice 1.02.41
  • Hi there
    Well done Moozie - a lot of progress already made.
    One small observation. Have a look around you at home and see if you ave things you no longer want/like/need that you can sell via ebay, amazon or a boot fair. More money coming in can be really helpful. Your OH may help you with htis even if he doesn't want to get involved with the actual 'sorting out of the money' itself.
    Best of luck and keep posting!
    MFiT-T2 no 66. To clear £61000 mortgage by 10 Dec 2012 ;)
    new balance 5/11/12 £18000
    Not going to make target but still delighted :D
    Big debt £24500 Lightbulb moment Aug 04 :eek:
    All paid off 20.12.06 - YEEESSSS!!!!!!:j
  • loubie_lou
    loubie_lou Posts: 1,368 Forumite
    First Anniversary Combo Breaker
    Hi Moozie. I've been reading your posts too, you are doing really well and to have listed all your debts in such a short time is a wonderful achievment!

    One thing that worries me a little is your partners complete lack of interest in your goal to be debt free (sorry if this is incorrect but i've only skimmed the posts!) Does he spend money like no ones business? Has he been supportive towards you, helping to collect facts and figures etc? Whilst we can give you support on here we can't give you a real hug when you are feeling down!

    I know men don't like to be nagged but what are his thoughts to what you are doing at the moment?

    ((((Hugs anyway!!!))))
    In debt no more!
  • I just wanted to say congratulations for going so far in the space of a day. I had been reading this forum for a while before plucking up the courage to post but something about making your situation public really helps to focus your efforts.

    Good Luck :D
    Debt on 31/01/2006 = £6345.14
    Total debt today = £5663.50
    Cards = £4206.34
    Overdraft = £1100.00
    Loan = £357.22 (ends January 2007)

    £2 collection club = £10 so far
    20p collection club = £2 so far
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    Combo Breaker First Post
    well done! Indeed, Im new here too, and realising I need to get my life more organised as you have!

    Thanks! and congrats and as the AA say, facing up to your problems means your half way there!

    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • frosty
    frosty Posts: 1,169 Forumite
    First Anniversary Combo Breaker First Post
    Hi Moosie,I really feel for you,I was exactly the same,I kept putting it off then one day I thought I have to do this,so with my heart pounding I gathered up all the paper work and then wrote down all our income and all the money we had going out.It made very scary reading,we were in £23,000 worth of debt,when I had worked it all out I felt a lot better,I think its the fear of the unknown and once you know the exact amount of your debt and you can see it on paper then maybe you can sit down with your partner and try to work out a plan,I have saved such a lot of money since joining this site,and this has gone towards paying off our debt which now stands at £20,000.GOOD LUCK
  • skintchick
    skintchick Posts: 15,114 Forumite
    Debt-free and Proud!
    Moozie - you have inspired me! I got my 0& cc statement through today and it is charging me interest!!

    As I was going to pay it off in full this month anyway, I wasn't going to bother challenging it, but after reading this thread and seeing how well you have tackled everything, I decided to make the call, and my 0% has been reinstated to May 1 as it should have been.

    So thanks! I was nearly too apathetic to make that call.
    :cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool:
    :heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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