Let me Debt Free

Arwel

Hi all,

Been a silent viewer of this message forum for a while now, but finally registered and this is my first post, sorry if its a long one.

Three years ago I bought a house when I promised myself that I would look after my money and stop spending like an idiot. Here I am three years on with £12000 Debt a Mortgage of £81000 (which I dont mind as the house value is going up) a very poor credit history and a ccj.

Today I have had my lightbulb moment, so to speak I have finally had the courage to look at my bank account for the fist time in ages and have sat down and calculated by total outgoings a month and where I could make savings.

The Debts are on Three Credit cards and Two loans (Previous debt consolidations) I have started a plan where I want to reduce this debt this is it in brief any tips?

Monitor my monthly spending (every Penny!!!) See if I can cut this every month.

Any overtime I do at work, take this off my credit card debt as this has the highest percentage.

Start making it a habit of viewing my bank total on the internet every day to ensure that everything is ok.

I have loads of charges on it thoigh in direct debit failures and illegal overdraft charges, is it easy to get these back?

Thanks and hello to all of you

Arwel

chevalier

If you look on https://www.consumeractiongroup.co.uk web site it is all explained there ref reclaiming charges.
If you join https://www.quidco.com and then look at your insurances you may find that they are cheaper than your current providers, if you move insurance via quidco, you get cash back too.
hope this helps
chev

SunderlandBlackCat

Welcome to the board

You sound a lot like I was just over 2 years ago. I had about £5k less on my mortgage & about £5k more on credit cards overdraft & consolidation loans.

Through a combination of snowballing, economising & using the time I used to spend wasting money to increase my qualifications or making some extra money I've managed to got the non mortgage debts down to under £5k & onto a 0% card.

I'm in the process of claiming back Bank charges & my 2 smallest (Yorkshire Bank & Barclaycard) have paid out.

Good luck with getting it all under control.

clarab_3

Hi, this site http://www.whatsthecost.com/snowball.aspx

will maybe help you see how best to pay down your debts fastest and most efficiently once you have worked out what you can afford to spend over the minimum payments each month.

And welcome!

beanielou

Hi & welcome!
When u get a mo can u pop up a Statment of affairs (SOA) which details all your income/expenditure.
This will help people to help you.
You can also start keeping a spending diary.