£77,366.35 reasons to be debt free!

REDMADCURLS

Hang in there girlfriend - all this hard work must be bring good Karma soon!

hypno06

hurrah for the return of the matched betting! Good luck, although I am sure you will be fine.

We went IO on the mortgage for 6 years, with little equity - I switched to repayment just before Christmas, and although I have got to now make increased payments to catch up such a long time on IO, it did allow me to get the other debts under control.

Had I been paying the repayment mortgage all the time, I would certainly not have cracked the other debt in the way that I have. I have worked out how much I have to "overpay" in order to get me to the amount owing on the mortgage by the end of the fixed rate, that it would have been if I had done repayment all the time, and can now work on throwing a bit of extra at that.

So, in 3 years, when my fixed rate comes to an end, I should be in exactly the right place.

Sorry if that makes no sense at all!!!!!

In_my_dreams

Well I took the plunge and rang the mortgage company who just gave me another kick in the teeth and said they had us down as a 100% LTV - there is a house identical to ours (although ours is more modernised inside) which has sold for £250k and our mortgage is £213k at the moment, but they need two houses to sell to do a free valuation.

Decided to try and plough on as our fixed term ends in October 2011 and I do need some equity when the deal ends. If it isn't getting any easier then I will go back in 6 months and see what they say. So whilst it made me cry a little, I am just feeling more reinforced that I HAVE to stick at this and do the best I can.

Me and OH have kind of agreed today not to talk about it. He will do certain things and I will juggle around and pay bills, for the simple reason that i cannot cope with his daily conversations, it is getting us both down and he cannot be rational about it. We are still in it together, but the constant conversations and recriminations are getting me down and making me ill. I am just thinking baby steps, get the car and reduce the debt to hopefully a £1k less next month just to make me feel better.

Onwards and upwards, going to look intently this week at ways to make money, do the scratchies, MB and other ways. I cannot give up.

BEAT_THE_DEBT

Hi imd, i know how you feel about when you just feel whats the point in even trying.
My car has to last me 2 years and if it went now i would be the same as you,
Allow yourself time to scream and shout and then just take stock and carry on you are doing so well.xxx

REDMADCURLS

LOL I read it twice and it made perfect sense the second time!

As I have said before, I was pleasantly surprised how comparitively little difference going IO made long term, unfortunately we have 20 years left on our mortgage!

REDMADCURLS

Sorry that was a reply to Hynpo - should have 'quoted'

IMD - we are with the Halifax and allegedly we are in negative equity, which if you look at sales of other houses in area, we most certainly are not! But when I went to IO payments, the equity and LTV were not discussed. I just had to tell them over the phone how, in 20 years time, I would pay back capital. (They assume you are going to stay on IO for duration) I of course was able to quote our wonderful pensions and investments!!!!!!!!

hypno06

I know what you mean about it being a pain with the valuations. I had the same when I took OH off the mortgage - even though the mortgage was the same, and the house was the same, I still had to pay for a valuation, which then said my house was not producing the required LTV :mad:

So, hugs, but if another house sells, don't hesitate to pick up the phone and give them another call pronto!

savingholmes

hi IMD

Last year both our cars died within a month of one another so have been in the "car despair" place. We managed to get an 04 plate Vauxhall Meriva for £4K after trawling the internet.... It had 32000 on the clock. In the last year I have spent some money on tires and brakes but nothing else.... Definitely worth thinking about... We were lucky my MIL leant us the money interest free

We are on interest only mortgage and for us it feels the best decision. Once we are clear of our remaining debts we plan to make massive overpayments....

Hugs it is a difficult time but you will get through this....

Happytogetdebtfree

Hi and chin up imd I'm sure eweything will be ok and work out I wish I had some spare cash to help you with new car there's nothing no worse than feelin demoralised about things when you have done so well on the debt battle. It takes it strain on couples arguing feeling angered about th situation I think for any couple not to argue about the frustrations of the debt would be abnormal to me or downright lucky :-) your not alone outthere ((hug)) things can only get better x

In_my_dreams

I kid you not..................my boiler has stopped working :eek::eek::eek:
I have had to laugh in order to not cry - I guess that is the third thing to go wrong in the space of 36 hours, car in car heaven, huge gas bill and now this - maybe things will look up tomorrow :rotfl:

Mild hysteria is setting in............