debt buster challange for me

Irishorangutan

Hi All,

I've now been self employed and since leaving uni 3 years ago, my current debts are as follows:

Account Total Debt Notes
Business Account 1232.03
Personal Account 977.68
Barclaycard Credit 2003.74 Repaying 100 per month
Mum’s Loan 1500 Repaying 50 per month

Total 5713.45

Some of this is slightly misleading, bearing in mind I'm self employed and some of the business debt is temporary.

I have one final debt - and that is around 10 grand of student loan - but that can wait until these debts are down.

However, I'm very determined to reduce this and then start saving.

First Move: Change back accounts. I've made my tax savings account (my only savings account currently until debt paid off) the ICICI account. I've just been accepted for the A&L Premier direct current account. Finally, i'm changing from my RBS business account (A saving of 200 -300 due to the ridiculous banking fees RBS give you for business) to something like abbey.

I need to become a credit card tart too - are there any good 0% interest credit cards I could transfer balances to? A&L offered my a 6 month one with the account...

I will soon be posting my earnings, and all my outgoings.

This is fairly brave for me, I've always been quite quiet about my money. I'm 23, self employed and engaged and want to get in credit now, to start saving for a house etc.

* I've already managed to get another 3 months free at SKY and have been using saynoto0870 - so today, at least 65 quid in savings - a good start!

I will publish incomings and outgoings soon, and if anyone can help i'll be eternally grateful.

:-)

amosworks

Hey there,

Am interested to hear about your business debts and generally everything else. Any updates?

Amos

justruth

Be carefull when tarting, as they tend to catch you out if you use direct debit. I got caught out as they sent me everything to say the dd had been set up then didn't take the first payment, saying it hadn't been set up in time. Easily avoided in the future, just pay the first payment and risk paying twice.

Best wishes in your debt free race.