Newbie just realised how much debt (Long)

Hippychick

well - update I have just tried to apply for a Capital One 0% balance transfer until Aug 07 for my Mint card, but their website is down so i will have to try again.

I have managed to find an old empty notebook in the cupboard so that is turning into my spend diary, if i can see where the money goes i can see where i can cut back.

anyway with regards to the ppi do the banks rob you then? i always thought it was the sensible thing to do. Should i try and cancel it?

bargainbetty

Hi hippychick

Welcome to the crowd -

I know it's a long shot, but have you thought about going for a cheaper deal on car insurance, even going third party, and dropping the breakdown cover to a lower level. It sounds a bit pricy.... if you own the car outright, you could think about getting a smaller, more economical one, or even giving it up for public transport. I know it doesn't work for everyone (*shameful head-hanging here*, but I thought it was worth mentioning.

PPI sometimes doesn't kick in until you have been off work for 60 days or more - definitely check it! I'd be tempted to dump it, as you could probably be back to work before the policy would start working.

Good luck though hon, it's scary but every day can bring a little triumph!

Hippychick

*UPDATE*

2 years ago I started this thread and thought i'd update now with my progress well I've managed to get my debt down from £21663.58 to £5939.41

It's been a trial but well worth it, I just wanted to say thanks to all of you guys for your help, all being well I should be debt free by the end of the year.

Basically so far I have changed my bank account and cleared my old overdraft.

Switched credit cards to low life of balance ones and made overpayments.

Cancelled the ppi on my loan and used the refund to chuck at one of my cc's.

Sold stuff I could lay my hands on. Changed tariffs to the cheapest I could find for all my bills etc.

Used the snowball calculator as best I could.

It has been hard I eventually had to give up work due to my illness fortunately I had permanent health insurance so I do still receive an income which has kept me afloat, anyway I really wanted to resurrect the thread to show that if you stick around MSE and keep plugging away light will appear at the end of the tunnel, I don't post much but this site has been a godsend.

poppyg_2

Hippychick, well done it sounds as you have done really well so far

lindauk

I just wanted to say well done to you and that 'iamlegend' is being a *insert appropriate word here*. You are doing great and I'm sure you will be DF by the end of the yea