The Debt Free Roll Of Honour



  • araminta
    araminta Forumite Posts: 218
    Part of the Furniture Combo Breaker Debt-free and Proud!
    Thanks Dubs57

    The payment a day works really well, as long as the debts are not increasing anymore every single penny you can pay off makes a difference, best of luck with your journey :)
    DMP Nov 09 £25,851.93 DMP June14 £0 100% paid:D
    [STRIKE]Target DFD 31st Dec 2014[/STRIKE] DFD 7th June 2014:j
    VSP no 118 £153.25 Weekly Savings Challenge #12 £276/£1378 PAYD by Xmas 2014 #095 8,500/8,500 = 100% paid #22 £365 in 365 days 168/365
  • Erme
    Erme Forumite Posts: 3,597
    Part of the Furniture Combo Breaker I've been Money Tipped! Debt-free and Proud!
    I don't think I've added myself to this? I don't know...

    I don't know when I had my lightbulb moment but thanks to various interwebby aids I cleared about £10K total of debts (on benefits before the big cuts) by 0ctober 2012. And yes I had my ups and down but I did it :)
    I believe in the power of PAD
    Come and join us on the Payment a Day thread
  • riverboat2001
    riverboat2001 Forumite Posts: 476
    Debt-free and Proud! Mortgage-free Glee!
    My lightbulb moment came about six years ago, we were living beyond our means and being stupid with money. It wasn't all our fault, an expensive divorce, and a battering by the CSA pretty much screwed us in the first place. And i suppose as we were overdrawn by so much that we gave up bothering.

    Our highest debts were 24K and loads of CCJ's

    Then one day we sat down and made the decision to change our ways. I contacted the CCC (now stepchange i believe) and we never looked back. We now have no mortgage, and a little bit of money saved, and more than that, we're both going to be able to take early retirement.

    This entire forum, helped, and knowing you're not alone is a boost, but probably the biggest one was about going over to 0% cards with my debts, this was before they started introducing charges for doing so.

    My advice is twofold. contact the CCC, be honest with them, and stick with it. You'll get there.
    And the real biggy for me was Microsoft Money. I logged every penny, and after a couple of months, you'll soon see where all that money is going. Even now, i still input all my statements and spending. I cannot emphasise how much this changed our lives.

    It doesn't happen magically, don't shop at Waitrose if you can't afford it, don't buy bottled water, cook - don't live on take-aways. Sell stuff on Ebay. Bulk shop so you're not in the supermarket everyday. Don't buy designer clothes, don't have the latest phone, buy one and get a sim free contract.
    There are loads of ways to cut your spending, but you have to make the effort.

    Funny thing is, i don't like spending money nowadays, I'm happier when i save money than when i spend money...
    Trust me, it's a good feeling. Just wish i could convince the Step children the same, as i see them going down the same road.
    Was a 40 a day smoker for 20 years.
    Decided to give up, and haven't had a fag for 12 years.
    Halfway through losing six stone.

    Looking forward to early retirement.
  • Westminster
    Westminster Forumite Posts: 1,004
    Part of the Furniture 500 Posts Savvy Shopper! Debt-free and Proud!
    The date of your lightbulb moment
    My DMP started 27/10/2006

    Debts at their highest

    Debt-Free Date

    Your one perl of wisdom
    With the change in ICO guidelines on issuing defaults, if I were in the same position again, I would stop payment to ALL accounts until they issued a default. One of my accounts never did default but used 4 years of Arrangement to Pay markers so will actually be visible on my credit files until December 2016 (10 years instead of the usual 6 for a default). I was unsuccessful with a direct complaint to the lender and also the ICO and FOS denied my claim to have a default retrospectively added.

    So if you have a very large level of debt (like I did) and it is highly unlikely you will avoid any defaults - then make sure you force a default on ALL of your accounts as soon as possible to limit the impact on your future.
  • garynuman
    garynuman Forumite Posts: 196
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    The date of your lightbulb moment
    Dec 11

    Debts at their highest

    Debt-Free Date
    Jun 14

    Your one perl of wisdom.
    What worked for me was to download HomeBank (free) and started exporting statements from bank and importing into it. It was a sad state of affairs initially, but a few overpayments here and there you do see the balance go down! A PPI refund was also instrumental. Thanks MSE - Could never have done it without you!
  • CGGR
    CGGR Forumite Posts: 3
    Debt-free and Proud!
    a. 01-09-2013
    b. £3,000
    c. 18/07/2014
    d. NEVER, EVER, EVER, EVER, EVER, EVER USE A PAYDAY LOAN COMPANY.... Its the start of a road to misery and loneliness.

    I am happier right now than I think I've ever been in my life .... + I have my first child due 11th November and I've just moved in to my first place with my now fiance!

  • sashanut
    sashanut Forumite Posts: 3,252
    Part of the Furniture 1,000 Posts Combo Breaker Mortgage-free Glee!
    edited 18 July 2014 at 11:39PM
    Hi all :j

    Thought it was time to apply to be on this roll of honour!

    a. The date of your lightbulb moment


    b. Debts at their highest

    That would be £93, 610.30 plus running overdrafts every month maxed to £5500 & £2000....

    Finally all paid back after 8 years...

    c. Debt-Free Date

    27th June 2014

    d. Your one pearl of wisdom.

    Just keep battling on - you will get there in the end. Try reading a book called Are You Being Seduced into Debt by John Cummuta...a US book, not all relevant to the UK, but interesting thinking

    f. Which forum threads helped you

    EVERY ONE I consulted!! But special mention to the Old Style board, for its endlessly useful tips on cooking & housekeeping - & the Payment a Day Thread - it really works!!

    Also the Snowball Calculator....a really useful tool when you have so much debt..
    New start JAN15 - NOT BUYING IT 2015 :eek:. Long haul DFW #145 : 2011 DEBTBUSTING : £5500 OD GONE, £2000 OD - GONE £93,610.30 cc & loan debt - GONE 27.6.14 FINALLY DEBT & MORTGAGE FREE :happyhear
  • Igamogam
    Igamogam Forumite Posts: 6,024
    Part of the Furniture 1,000 Posts Debt-free and Proud! Combo Breaker
    For some reason quote button not working.............

    Shasanut: at last on the roll of honour board:beer: and still PADding......really does work;)
    Be the change you want to see -with apologies to Gandhi :o
    In gardens, beauty is a by-product. The main business is sex and death. ~Sam Llewelyn
    'On the internet no one knows you are a cat' :) ;)
  • DebtFree2012
    DebtFree2012 Forumite Posts: 3,573 Forumite
    WOW Well done.
    Debt - CCV £3792
    CCB £1383 (took a hit for a holiday)

    Loan 1 £1787
    Loan 2 £1683
    Total £8601 Was £39302
  • LittleMissKitty
    LittleMissKitty Forumite Posts: 398
    Debt-free and Proud!
    I'm debt free!!! I thought I had a few weeks left to go but, apparently, I miscalculated a tax credits payment so I'm randomly debt free sooner than I thought! :j

    Oooo, now I have to answer all the questions :) Here goes.........

    My lightbulb moment was 23rd Feb 2009, after being told DH was to be made redundant and I realised our overdraft wasn't big enough to carry us if he couldn't get work.

    Our debts have fluctuated massively over the years but the most we had at one time was just over £24,000

    DFD - Tuesday 22nd July 2014!

    Hmm.... pearl of wisdom.... um. Probably that you have to alter how you look at money and how you look at 'things'. I had too many things and the mantra 'have nothing in your life that you either know to be useful nor believe to be beautiful' really helped. If I didn't use it I sold it, if it wasn't pretty, I sold it. Also, having my children look at me sarcastically every time I picked something up in a shop to buy and repeating 'do you reeeeeeaaaaaally need that Mummy?' helped!

    Oh.. and snowball, it feels great :)

    I had a Summer (with 5 kids) where I spent only £17 over and above food and petrol for the entire Summer holiday thanks to the NSD threads. I'm really competitive so the idea of being able to spend money ONLY on certain days (Mondays for me) really helped me plan outgoings and realise that I very rarely needed anything immediately.

    I'm crap at keeping diaries but I started 4!

    Now we've sorted our debts and finished our little (:rotfl:) family the next big adventure is to move across the water! So now we plan to overpay the mortgage and start a little bit of saving every month and to stay FIRMLY in the Black so that we have the best chance of getting a new mortgage in a new country when we move! Thanks for reading and GOOD LUCK to you all. It's SO worth it!
    [STRIKE]DFD 22/7/14[/STRIKE]:o:cry:
    OD £1200 ~ CC1 £1875 ~ CC2 £1275 ~ Tesco £4757 ~ Creation £235 ~ FIL £25750
    DEBT @ 28/03/2018 = £35092
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