The Debt Free Roll Of Honour

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Comments

  • Congratulations t2rry!
  • LexieLou
    LexieLou Posts: 715 Forumite
    Part of the Furniture 500 Posts Debt-free and Proud! Name Dropper
    The date of your lightbulb moment Mid 2013.
    Debts at their highest £28k and ended up on a DMP.
    Debt-Free Date Feb 2021.


    Snowballing. Despite the advice from Stepchange who try and organise the payments on the debts to be equal and fair, I would clear smaller debts in full, say if there was £100 or £200 left on a credit card or catalogue, pay it off completely and then tell Stepchange it's gone and NOT to decrease your payment amount. The plan is then reorganised with increased payments to all creditors. I did this 4 or 5 times and found it does reduce the time of the plan.


    I often wondered about snowballing your smaller debts on a DMP - thank you for sharing this.  

    I wish you well, you deserve it. 

    LL xx
    £38,000 and change to £0
  • mark55man
    mark55man Posts: 8,179 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    yay @FootyFanDan - well done.  onwards and upwards.

    I think I saw you in an ice cream parlour
    Drinking milk shakes, cold and long
    Smiling and waving and looking so fine
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