Personal Challenge : Clear £42k in 6 months

Deeperblue

Good grief... 12 hours days every day till August! I wish you the very best of luck with that and if you pull it off you deserve every penny you make, but may be think about having the odd day off here and there. Even though it may add an extra month to paying off your debt you may at least still be alive by the end of it!

zharrt

spendingmad wrote: »

Can I ask why would a CC company knock 50% off your current balance if you are managing to make the minimum payments?

I have not making minimum payments, I was unemplyed for a large portion of last year and before then I wasn't earning enoough to cover the minimums and things spiraled so I stopped making any payments around September 2009 and basically just kept moving and hiding from my debts.

zharrt

Deeperblue wrote: »

Good grief... 12 hours days every day till August! I wish you the very best of luck with that and if you pull it off you deserve every penny you make, but may be think about having the odd day off here and there. Even though it may add an extra month to paying off your debt you may at least still be alive by the end of it!

I am being forced to take two days off for the bloody Royal wedding so I will miss two days worth of invoiving lol

zharrt

One debt paid off in full

Its not a biggie but the feeling of paying a debt off in full is quite satisfying.

One question, would it be a good idea to sign up to CreditExpert or simialr to keep a tabs on my Credit File to make sure that once a debt is paid off its reflected there? Or is it a waste of money as my file will be that poor at the moment its gonna take a long time to start benefiting from paying things off.

zharrt

Another two small debts paid off in full last night )

However when I tried to ring Orange to pay of what I owe them, they pointed me to a Collections Agency, who in turn said the debt had be returned to Orange. I rang them again and they said there is no debt but my SCR is showing a default for them. Whats the best way to proceed with this?

I have asked Orange to confirm that there is no debt in writing, can I use this to update my file?

loveGSDs

hiya,

sorry i cant help with the debt advice etc

but just wanted to ask how your getting on with the 12hr days/no days off?

also, whats your debt total now? im going to subscribe to your thread!

well done on clearing what you have so far

bugslet

Used to do 100 - 120 hours a week in my late 20s for two years apart from having the time off between xmas and new year off. Once you get your head around it, it isn't so bad. In the first year when I was working for myself, I paid myself £90.00 gross:eek: a week. At least zhaart is earning decent money for the hours:T. Best of luck with the debt repayment, it sounds like the plan is coming together nicely.

[Deleted User]

Just make sure that you get any full and finals offers in writing and confirmation also in writing that they will not pass on to another Dbt Collection Agency.

zharrt

Just run (2) who I owe £8k to, I offered them the £500 a month as planned for 6 months, they said they would have to get authorisation and would want it as a lump sum so fingers crossed by Monday I will have another 19% cleared

zharrt

Rang them back today and they have accepted the offer of £3k, so in the space of a month I have dropped from owing £42k to £27k