Olympic Countdown aka clear those debts by July 2012!

learn2cope

Yeah - first payment of 2010. £57.67 paid off today!!!!

paul2funky

....I've worked out my total debt and it is a somewhat scary £12,571.82! :eek: Am annoyed with myself for it getting this bad. Things got a lot worse over the last 12 months or so - I work as a recruitment consultant and was made redundant twice in an 8 month period due to the credit crunch and had in total 5 months where I was unemployed. Of course I had no savings and ran up more debt! Luckily I'm a 31 year old single lad without a mortgage or family to support so no-one else has suffered from me spending too much. Been in a new job in medical recruitment since August which is going well but earning a lot less than I used to 2 years ago.....

I actually do owe more than this as have 6 student loans.....however not including these as three are the old style loans (you have to be earning over £27K to start paying these off - my basic salary is £22K + commission). The 3 newer loans come straight off my salary, paid loads off on these and I treat them more like a graduate tax as I never even see that money in my account! I also owe my mother quite a bit of cash from when I was unemployed but again that is an interest free loan and she wants me to get rid of all my other debts first.

Thanks for setting up this group Dragon :T its given me a target to aim for and made me face up to my debts. Any extra cash I get from commission is going to these debts now! I spend a lot of money socialising but will curb that massively (well except for the odd date and Saturday nights out lol)

Good luck to everyone on here and here's to us all being debt free! (and to that party in July 2012!! )

Paul

The_Dragon

Welcome to jamjam3 and millionaire in training :j, thank you paul2funky for the amount you owe to add to the first post and thank you to the others for the paid amounts (all now updated on the spreadsheet and the first post!)

Any amounts paid off the debt whether minimum payments (because that is all you can afford that month/week) or any extras should be included because after all it all nibbles away the initial total and gets you closer to debt freedom!

At 4pm on the 3rd January 2010 the team amounts are as follows

Total to pay at start - £937,921.61
Total paid to date - £5,797.16
Percentage paid = 0.62%

candyblue

The_Dragon wrote: »

Welcome to jamjam3 and millionaire in training :j, thank you paul2funky for the amount you owe to add to the first post and thank you to the others for the paid amounts (all now updated on the spreadsheet and the first post!)

Any amounts paid off the debt whether minimum payments (because that is all you can afford that month/week) or any extras should be included because after all it all nibbles away the initial total and gets you closer to debt freedom!

At 4pm on the 3rd January 2010 the team amounts are as follows

Total to pay at start - £937,921.61
Total paid to date - £5,797.16
Percentage paid = 0.62%

Thanks dragon, thats excellent considering its only the 3rd Jan:T Keep it up peeps

wigannwuk

Count me in ..fantastic idea

as of now owed £19989...

paid off £0

candyblue

Just paid off another £23, after 2mrw I think the payments a day will stop again until 15th unless I sell some more things or win anything

stacy

Hi can i change my starting debt total to £20,185.92 sorry ill eventually update with totals paid off.

gemma1984

Boo hoo, I want to update but can't.... damn ebay and having to wait 7 days for lisitngs to be over

stacy

Hehe Gemma i have things waiting to end on ebay too mine are in 3days and 6hours

The_Dragon

Good to see you wigannwuk and you appear to be contender #55 (should you feel inclined to add the challenge to your signature line ), not a problem with changing your starting total stacey - indeed I may stick my £150 overdraft facility on there as I want to get that down to a £25 emergency fund , candyblue your payments have been updated and you have now paid 1.5% of your total!