The big challenge - pay off £20k by Christmas 2010

hypno06

Keep going guys - remember, every penny paid off is another penny that is not costing us in interest!

I paid £119 today, moving my total along a little. Gradually going in the right direction

Earthstrong

Hi all,

£309.00 to MBNA and £60.00 mortgage overpayment, £300.00 to savings account.

Happytogetdebtfree

well done earth strong xx

mel19632

Monthly results in - £3,688 paid this month WOOP!

Total for challenge is £21,789.

Hope everyone has had a good month

hypno06

Wow, mel, those are hoooooge figures!!

Well done and have a good weekend!

taxi73

great figures...keep it up.
Another £20 in savings today and £49 in savings yesterday...so have now done £20k in savings...woohoo...am daring to dream of being rid of mortgage by next christmas..don't know whether that will happen or not but should be quite close anyway.

Happytogetdebtfree

Wow this is fantastic. Keep up the good work everyone :-) we seem to be on a roll. Mel them figures are amazing you will more than smash your target xx

poohbear59

We have decided to take a major step and remortgage the house to take in all our business set up debts and have one more reasonable payment that we can afford. It means that in a few weeks our £36000 debt will be incorporated into the mortgage. I have made sure that we have a good deal and that we can start to pay off early as soon as we are making a profit.

We will soon be looking for a new completely separate business loan to finish the job. When we have everything sorted out I will rejoin you if I may?

In August I managed to pay off £809 from revolving debts.:D

This year we have paid off £6310 plus a £1500 overdraft. We would never have managed without you guys, thank you:D

We have had to go for remortgage because we have been unable to continue with the 0% credit cards. When two deals ended recently we were unable to find another and the interest rate rocketed to 19.9 and 23.9% !!

Lemon_Tree

hi all, fantastic numbers from everyone.
my monthly apres pay day update. I've paid off another £928, bringing my total up to £9966 or 66.44%. I'm certainly not forecasting to reach my target of £15k for the year but truthfully i'll be happy to just top £12k which i should do.

gailey_2

Hi guys

Im still alive just rubbish at updating, june was my last post.

Been busy school hols, unexpected bills and bankscharges made debt busting very difficult last few months and got very down and stressed.

Since last post in june I have only managed to pay 370 seems pathetic

90banks charges
2 months worth of loan 40quid june/july another coming out monday=80
julys bankcharges awful as 160quid as tey charge 20 quid a day and tax credits taken 2montsh to process a claim another 160 going out next week in carges.

Due to charges fallen behind with very cat and owe then 270, still owe barclaycard too so mercers ring constant and outstanding phone bill.

Only have 45quid left on next tempted to clear it as feel would make me feel better one paid off.

Got another few years on loan
want to stop cycle of bank charges
very balance now 900! so crept up depsite repayments this has to be a priority.
barclaycard 1700-again crept up trough interest and late payment charges.

Apart from od on barclays which is in order would love to clear
2600 by xmas but unsure if will do it.

Sold lots of stuff and thats helped keep me afloat just
spent birthday money on bills
spend most time on oldstyle board trying to reduce grocery outgoings making some inroads there.
Doing carboot hopefully tommorow.
Still buying for profits on buggies.
Still want to explore dig walking idea as tried part time job hunting.

Hubby has 2nd inteveiw soon and another interveiw some other company both on more money so hoping he will get either as that means we can pay everything off quickly.

Car of doom has not helped and cost us small fortune thats going b4 xmas put my foot down we need bigger car hubby have to put image aside and get people carrier.

Eldest starts primary and got

gym classes to pay for
School dinners
still needs coat watching few on ebay
all uniform brought cost small fortune managed to get some 2nd hand bits.
still need dreaded school shoes, big shopping centre far too busy other week.

So still more expense to come.

Trying not to get down and panic
Can only pay what I have
trying my best

hubbys figures-maybe not accrate but near enough as not sure if he paid extra on cards or had bank charges will check

600quid on 2 credits cards jun-aug
3lots of loan 386 per month
not suer on bank charges will check

total=1758+my measly 370= 2258

add to sig now updated 9258/20.000 so nearly at 10grand mark.
I think we may just hit teh 20k although most be in interest dont think balance would have fallen by that amount as due to emergancies hubbys respent on some cards due to car .

Will be doing very serious breakdown of costs nearer xmas.

Hoping we just hit ablip and if he gets new job huge changes.

trying to do xmas cheap wit homemade stuff and sales ect.

Hope everyone else is doing ok and not letting creditors get them down.

Well done everyone no matter what you pay its something!

hypno question is your outstanding unsecured debt excluding morgage under 10grand as thats amazing from what you were.