New member - here is my story....

fatbelly

Phoenix79 wrote:

I still chuck about £400-£500 at my debts and my bonus in March (about £2k) will be used towards it as well.

With 2k to pay towards 8k of debt, you might want to try full & finals?

Factsheet

Elliesmum

Phoenix79 wrote:

Hi there,

Been lurking for months and I thought it was now time to sign up!

My debt situation isn't as bad as it used to be and i believe i have firmly got it under control. My 'lightbulb' moment came about 18 months ago. I had circa £18k of debt on a loan and about 4 credit cards. I was just about keeping my head above water but was resorting to withdrawing cash out on my credit card if i wanted to go on a night out. It got to the stage where it was giving me sleepness nights.....and as i'm laid back kind of guy that is when i realised i had to sort my mess out!

I just knuckled down, went out less and kept a tight contol of my wallet. I was always a fan of getting the latest gadget (phones, ipod, laptops, sat-nav etc..) and while i still treat myself every now and again, I am more sensible now.

I now owe about £8k overall. My original debt free date was summer 2010 but now i'm going all out for Christmas 2007. I've got the money saving bug now and i'm determined to do it! :j

I owe it all to the inspiring stories I have read on here. Keep it up people :beer:

Well done you - I to am inspired by many of the stories I have read on this site.

EM x

Phoenix79_2

fatbelly wrote:

With 2k to pay towards 8k of debt, you might want to try full & finals?

Factsheet

Hi
Thanks for the suggestion but looking at it, isn't this admitting you can't afford to pay your debts and will this look bad on your credit file? Despite having debt I have never missed a credit card payment or gone over my overdraft. I'd rather pay the debts of properly and keep a 'clean' credit file

Thanks for the suggestion though.

moozie_2

Hiya Phoenix79

Your post made me smile! Well done on wanting to pay everything back as you are clearly able to!

F&F is mostly for people that have missed payments and have got defaulted accounts. Lenders would look to agree F&F settlements when that is the best way for them to retrieve what they are owed. I don't think they would be accepting that from someone that has a good record with them and is able to meet their commitments - like you

Keep at it and we'll be reading you're debt free before long as I said yesterday :T

GhostHunter_3

Hi Pheonix

Maybe you could ask the shop keeper to pay you your tenner in small change then theres enough to pay if your short at the bank and a few more left to restart those jars again!

Well done and an inspiring story for me also. Many people would think what we owe is pennies to many of your debts but the help on these boards and support is great if you are prepared to listen and not think your being judged!

One thing I must say though its nice to see someone else who is attatched to their Sky and internet, I agree if you dont drink, dont smoke never go out anywhere then there has to be some luxury surely as long as you keep control of the subscription! I would love to have Sky + and Multiroom with an extra subscription but I simply cant afford it! I can just about afford the £21 per month subscription I have now. As for that flatscree surround sound TV well thats waiting for me in the future. Its what I am putting my pennies aside for as a big reward once I am debt free! Anyhow by then I will be thankfull I dont have one now as technology will be so advanced by then lol!

I may pluck up the courage to post my SOA soon so please feel free to help. And feel free to PM me anytime to help now - that goes to you all!

Well done and keep it up!

CHEERS!

GH

Phoenix79_2

moozie wrote:

Hiya Phoenix79

Your post made me smile! Well done on wanting to pay everything back as you are clearly able to!

F&F is mostly for people that have missed payments and have got defaulted accounts. Lenders would look to agree F&F settlements when that is the best way for them to retrieve what they are owed. I don't think they would be accepting that from someone that has a good record with them and is able to meet their commitments - like you

Keep at it and we'll be reading you're debt free before long as I said yesterday :T

Hi Moozie

I've spent the money so its only right that I pay it all back. I appreciate some people get themselves into a position or are put in a position by redundancy where that simply is impossible but thats not the case with me. (In fact i dream of being made redundant as I would get a 5 figure amount that would clear everything I owe!)

You are doing very well yourself Moozie.....you have paid off a fair bit in the last few months and our debt free dates are around the same time! I'll race you! :j

Phoenix79_2

GhostHunter wrote:

Hi Pheonix

Maybe you could ask the shop keeper to pay you your tenner in small change then theres enough to pay if your short at the bank and a few more left to restart those jars again!

Well done and an inspiring story for me also. Many people would think what we owe is pennies to many of your debts but the help on these boards and support is great if you are prepared to listen and not think your being judged!

One thing I must say though its nice to see someone else who is attatched to their Sky and internet, I agree if you dont drink, dont smoke never go out anywhere then there has to be some luxury surely as long as you keep control of the subscription! I would love to have Sky + and Multiroom with an extra subscription but I simply cant afford it! I can just about afford the £21 per month subscription I have now. As for that flatscree surround sound TV well thats waiting for me in the future. Its what I am putting my pennies aside for as a big reward once I am debt free! Anyhow by then I will be thankfull I dont have one now as technology will be so advanced by then lol!

I may pluck up the courage to post my SOA soon so please feel free to help. And feel free to PM me anytime to help now - that goes to you all!

Well done and keep it up!

CHEERS!

GH

I got a crisp ten pound note of the newsagent but will be paying it into my third account tomorrow and will be put towards my credit card. Every little helps!

I have got two sky+ boxes (one upstairs, one downstairs) that work independantly of each other. I don't go out much anymore so its my treat to myself. I used to spend £500 a month on going out.....now I spend about £100 so i think i deserve the Sky+! Unfortunately we're not eligible for the free Sky broadband so thats next on my list - find a cheaper broadband provider. Pay £25pm to Virgin at the minute but looking for something cheaper that throws in a free wireless router.

Post up your SOA so we can help you pay off your debts quicker. If i can get to grips with my finances then anyone can! :beer:

wooster

Many thanks Phoenix79 - I've been a silent member since my lightbulb moment back in March and you've motivated me to write my first post. Good luck with the moneysaving.

fatbelly

Phoenix79 wrote:

Despite having debt I have never missed a credit card payment or gone over my overdraft.

Respect!;)

Phoenix79_2

wooster wrote:

Many thanks Phoenix79 - I've been a silent member since my lightbulb moment back in March and you've motivated me to write my first post. Good luck with the moneysaving.

Bets of luck Wooster :j