The Debts HAVE to Go this time!!

crapwithcash82

So I have decided its time to come back to MSE and get rid of my debts once and for all. Over the past few years I have made an impact on it, but have also I've became a mum, worked full time, got engaged, studyed (and passed!!) a bachelors degree at University, and got pregnant again! Phew!... sounds like a lot when its all written down!

While all thats been going on I've had these debts in the background, they are managable, but I just want rid. My second baby is due in January and I will have to go back to work at the end of next year, which will mean 2 lots of childcare to pay for so ideally I would LOVE to be debt free before then. Also, I'm going to be 28 next week, and this debt really needs to go before I am 30, as I am determined I will enjoy my thirties debt free!!

One fundamental drain on my finances the past 2 years was my car. I bought it second hand from a used car dealer, which I vowed I would never ever do (had new cars up until that point) but money was tight and I needed a bigger car. Over 2 years it cost me around £4k in repairs, as well as repayin a family loan I got to buy it. I got rid of it earlier this year, and now have a fantastic car on a hire purchase/lease agreement. It is used (kind of MSE?!) but comes with warranty, repairs, parts, servicing, MOT once its old enough, break down cover.... basically everything my old car didn't. I feel with 2 children (soon!) that I can justify it. Its £240 per month, but I don't think you can put a price on piece of mind! Oh and I got it £3k less than they had it advertised at the dealership, because somebody made a "boo boo" with the price on their website so that made me feel good too, and that they hadn't ripped me off!

The second fundamental error, was I took on a Vanquis card, supposedly to only use once a month to help repair my credit score and I've gone and racked it up to around the £2k mark. Sooooo silly, but its done now, and I just need to get rid of it.

So my debts look like the following at the moment:

Evil Vanquis Card - £2200
Egg Loan - £1907.87
Northern Rock Loan - £1639.29
Lloyds TSB Consolidated Accounts £2912.67
Total - £8659.83

It looks soooooo much when its all written down, but as I'm on full pay for the first six months of my maternity leave I will hopefully be able to chuck the money I was spending on childcare (around £550/£600 per month) at it, then hopefully it won't be completely unachieveable to clear my feet.

I feel like I have been in debt forever so to get rid of it would be such a brilliant feeling. I do ebay etc but really have exhausted every avenue where thats concerned and don't have hardly anything else left to sell!!

With regards to baby stuff I have loads of my daughters things that I will re-use, only things I need to get are a wardrobe, dresser and cot, which I am going to buy in stages, and hopefully get the 20% off at Mama's and Papa's thats running just now. I'm planning on buying the wardrobe soon, then the dresser and cot either nearer to baby arriving or once he/she arrives as most relatives have said they'll just give us money as we have loads of baby things from our first.

Wow, didn't mean to rabbit on for so long, but I am now back, until the debt is gone, and would appreciate any tips/help in getting out of this ugly debt mess I am in - and any pointers to keep on the straight and narrow!!

Thanks for reading..... if you got this far!!

crapwithcash82

Haven't had a NSD today, as I went and bought a takeaway at lunchtime with the girls from work! Bad I know but it was only £3 and I haven't done it for aaaaaaaagess!!

I was updating my spreadsheet which I keep to cross check against my bank account and it wasn't adding up earlier, much to my dismay. I had been christmas shopping last week, and had updated my spreadsheet but it wasn't matching my bank account and everything from the shopping appeared to have come off. I checked the receipts and I had paid £70 cash for a transaction I thought I had used my card for - so I am £70 better off than I thought I was!! :T Doesn't happen often, but felt good!!

Another plus is that its payday tomorrow so will be able to make some repayments to the evil debts!!.... they will be gone!!

:money:

crapwithcash82

Woo Hoo - its payday!! Have made the minimum payments to my debts so they are now looking as follows:

Evil Vanquis Card - £2200
Egg Loan - £1907.87 (Pd £45)
Northern Rock Loan - £1639.29 (Pd £60)
Lloyds TSB Consolidated Accounts £2912.67 (Pd £175)
Total - [STRIKE]£8659.83[/STRIKE] £8,379.83

Haven't paid anything off Vanquis yet, as my internet banking crashed as I was doing the payment so will try and get back on later tonight.

Need to keep money back from my wages (which are around £1300 this month) for childcare for December and paid my £240 to my car, and £350 to our joint account for mortgage etc today. Car insurance etc will come off next week, and then I'll know exactly where I stand money wise for the month.

Plus side is we get paid early in December, minus side is.... its a looooooong month until payday in Jan!!

frasersmum123

Well done - looks like you have made a good start - and dont worry about the takeaway - we all deserve a treat now and again

crapwithcash82

frasersmum123 wrote: »

Well done - looks like you have made a good start - and dont worry about the takeaway - we all deserve a treat now and again

Thanks Frasersmum123, I feel like I've started and stopped and started again about three times, so I'm determined that this is it this time!!

Had a call from a company who have "bought" my Egg Loan today, so discussed potentially clearing this as quickly as possible. I need to call Egg to confirm this is all legit before I agree anything with them, but it would be good to get rid of one whole creditor!!