Losing 25lbs and Gaining £25k all by Aug 2013......EVIL DEBT

rachelww1

You have a 4k limit on your Next account :eek::eek:. Why not cut it to just above whatyou owe, and ask them to close it too so you can't spend any more. Just think, in a couple of years time you'll be able to go into Next, or anywhere you like, pay with cash and know that you have the money in the bank/savings in order to pay for it

Kei

DebtFree2012 wrote: »

Re not telling OH - you know my feelings on this as I am doing the same. Lots of people are. We will be DF asap and then OH will benefit from it in the long run as I know I will be treating my family when DF. I refuse to risk my relationship and upset my OH for something I know I can put right, that was entirely my fault and that I am thoroughly disappointed in myself for. Plus other reasons!

I am also with you, although he knows about most of it just not my secret CC which I hope to get rid of first. I think if I did tell him he would be a little mad, then want to help me pay it off, but I don't want that as its MY mess and I have to pay for it! But I dream of being able to go out for a nice meal or something and offering to pay the whole bill for once, when its all paid off!

DebtFree2012

Kei wrote: »

I am also with you, although he knows about most of it just not my secret CC which I hope to get rid of first. I think if I did tell him he would be a little mad, then want to help me pay it off, but I don't want that as its MY mess and I have to pay for it! But I dream of being able to go out for a nice meal or something and offering to pay the whole bill for once, when its all paid off!

That too is my dream. I would love to suggest going out without having to check who's paying, order what we want and I'll pick up the bill without any fuss and know it'll go through!!!

We will get there!

x x x

DebtFree2012

That's a very good plan about reducing credit limit - have they ever changed it without asking you?

I think I will phone and ask them to reduce mine too - although it will be gone in few months so may wait and close it with a big smile on my face.

x x x

garfield44

Mmm not too sure. To be honest I reckon the have as I remember only having £1000 credit limit on it although I vaguely remember getting an email about it.

As I have nothing on it now I can phone and close the account, although I was thinking maybe reducing it to £500 just for emergencies as times are going to be hard this next couple of years while I pay everything off.

Is keeping it open defeating the purpose though!?! I know i will not use it but like to have it there if I need it at Christmas

DebtFree2012

Hi hun

This is the decision I made:

As soon as I can I am closing everything. It took me a long time to decide this as I was thinking exactly the same as you and then every time I thought about it I came to the same answer. Last time I kept them open and look where I am again! back in debt that's where and I know if I don't close them off when cleared that's where I will be again in a few years (well i hope i won't but not risking it).

This way, if I don't have the cash there I need to find it. And I can't live outside my means. It makes me budget and appreciate everything.

I don't know my pin numbers for cards anymore thank god and I have blocked being able to use them online so I really can't use them. I am going to cut them up when I am alone in the office asap.

I have just blocked and effectively closed NEXT account this afty, feels good!

Also for Christmas, it's long enough away for you to save for so maybe set something aside each month to cvover it?

x x x

rachelww1

Hiya. I totally agree with DF. Our loans were to pay off credit cards, now I have 4 loans, and was pretty much maxed out on credit cards at the beginning of this debt free journey. All of mine are closed now (I hope/think), as I definately do not want to be in this situation again. No matter what you may think now, if you don't close the account, some problem is bound to come along, and you'll spend on it again. Also you have to think about the APR on a card like that....it's bound to be way over the odds.

garfield44

Thanks for the excellent advice DF and Rachel :A:A

I seemed to have forgotten that the reason I too am in debt is because I got a loan to pay for my credit card and then maxed it out and then got another loan to pay it and then maxed it out plus then added my store card onto credit card!!!! Thank you both for reminding me as I know I am saying now that I wont use it but it would be better if the temptation was gone completely.................so I have today CLOSED evil Next account :T WOOHOO

As for Chrimbo, I have decided a plan of action. I reckon I will need about £400 to cover everything at christmas so if I continue paying £450 a month to my b/card then I will put one months payment aside into a savings account for Christmas. This may mean that it MAY not be paid off until Jan 2012 instead of Dec 2011 but you never know what may happen in the year so Im going to try and find this somehow.

Hope everyone is having a fab weekend

rachelww1

Well done :beer::T:beer:

DebtFree2012

Fantastic - you have definitely done the right thing! Why don't you ask for cash for Xmas presents to put towards your final payment so may still be Dec but even if it isn't - what's a month when it means you are spending your money and not the banks. More than a month, fair enough - but def the right choice hun!

Paying Next off is a step to financial freedom and closing the account is another step. We need to retrain our thoughts to never let this happen again.

Just think - you could treat yourself once DF to anything you fancy and it will be your money! Within reason of course lol.

x x x