Debt free by Summer 2012 (if not sooner!)

DebtFree2012

Morning all

Mum took ill again last night. Waiting to hear again from the Doctor, she isn't in hospital today though as used her emergency spray they gave her.

DD is fine now thankfully.

At a bit of a loss as not sure what to do for the best - scared stiff it's going to happen again and again or worse. It's totally out of the blue - last thing we expected.

I don't want to sound so negative but am frightened to be honest.

Hope everyone else is well - back online later when I know more

x x

Hovel_lady

((Hugs)) hope your mum is better very soon and glad DD is now well xx

Kepp

Hope your Mum is ok DF. Hugs to you xxx

DebtFree2012

Thanks guys - I am just being "normal" (if I ever am!) and looking through the diaries and posting and getting on with things. I can't do more until lunch time anyway.

Can't shift the sick feeling inside but to be expected I suppose.

I am speaking to her every hour to check in and she is ok at present. Thank god for the NHS.

xx x

Skint_but_Optimistic

Yes its scary but shes being watched now and hopefully steps can be made to manage it.

Just keep swimming.xx

DebtFree2012

Right - normally I spend £10 a month on topping up my mobile but after looking online there's a better deal, contract for £6 a month and it's a 30 day rolling meaning I can cancel with 30 days notice so unless there's a catch all should be well.

So that works out better

Heard from Mum again, so far so good this morning. Hour by hour at present.

x x

DebtFree2012

Thanks skint. Exactly that - treading water and occasionally going under but it's balancing out as I sometimes feel like I am swimming too. Life huh?

xx

DebtFree2012

Ok so it's been 6 months now. Thought I would do an update of where I am at.

Debt was £30412.44 as at 01st Jan 2011
Debt is £24604.49 as at 01st Aug 2011
Reduction of 19.1% therefore 80.9% to go.

Broken down:

Jan (double payments made to some as had defaulted in Dec)
Interest paid £321.57
Total paid £798.43
Reduction to debt after interest £476.86

Feb
Interest paid £351.40
Total paid £509.64
Reduction to debt after interest £158.24

March
Interest paid £322.40
Total paid £664.63
Reduction to debt after interest £342.23

Apr
Interest paid £308.06
Total paid £660.63
Reduction to debt after interest £352.57

May
Interest paid £304.95
Total paid £718.48
Reduction to debt after interest £413.53

June
Interest paid £273.54
Total paid £642.63
Reduction to debt after interest £369.09

July
Interest paid £297.13
Total paid £644.63
Reduction to debt after interest £347.50

Total Interest Charged 2011 so far £2,179.05 :eek:

The above figures don’t take into account my overdraft that I cleared of £1500 :jas that wasn’t an initial goal and fell in lucky with unexpected bonus.

How sickening is the amount of interest charged? Great news for the 4k card then as it’s 4k less interest charged. Also I am paying a consistent minimum amount each month now (can’t wait until that is spare!) and the interest charged is reducing. The July interest charged went up again due to the way they allocate payments – I don’t fully understand it but it’s charged against a purchase opposed to transfer so more I think.

Balances stand as at 01st Aug 2011:

£4400 down to £4094.17 (Cap1)
£698.34 down to £282.82 (Next)
£7281.06 down to £7007 (Virgin)
£2533.04 down to £2403 (Tesco)
£6000 down to £3967.50 (Loan)
£8000 down to £6850 (Kitchen)

I will be clearing Next very soon and transferring Cap1 to a 0% card so can focus on Virgin

I can't wait for the debt to be clear!

I'm going to post some end of year targets soon. I get bored otherwise! :rotfl:

DebtFree2012

OK so quick thoughts are:

Entering the new year I would like to be in (at least!) the following position:
0% card 4k
Virgin 6k
Tesco 2335
Kitchen 6450
Next 0

This would mean a reduction of 1k on Virgin which is apx 1.4k payments made after allowing for interest.

Hovel_lady

Well done on paying so much off this year :T