Time to ditch the debt!

jmf76

I have just cut up my Egg Credit Card :T :T :T

Can't believe how good it felt.

slowlyfading

well done! Keep going
nicola x

jmf76

Well I'm one Egg card down, another to go. When I phoned them up they said I wouldn't receive the credit I had on the card until my next statement went through at the beginning of next month!!! Typical they have your money they keep a hold of it, however if you owe them they want it asap!!! However luckily I checked my bank statment this week and they had transferred it early which has meant i've been able to send a cheque of for the balance on my Car HP. Was quite funny when I phoned them for the settlement figure - they asked if I was thinking of changing my car - no doubt to see if they could offer me another loan! It's quite nice to think my car is actually 'my' car now.

So an update on my debt...

Debt
Debt Interest Rate Current Balance
American Express 4.9% life of balance [strike]£3915.59[/strike] £3817.59
More Than 3.9% life of balance £2000
Smile Credit 9.9% [strike]£572.49[/strike] £5855.88 (:( only downside to getting rid of car hp and egg cc )
Student Loan 2.4% [strike]£3039.26[/strike] £2987.82 (under £3000 )
Joint account overdraft 0% till Jan 2008 then 5.9% £1358.57

Debts paid off!!
Argos 0% till Aug 2007 [strike]£256.42[/strike] £0 YEAH!
Egg Credit 0% for 5 months [strike]£2824.82[/strike] £0 YEAH!
Egg Money £0 - awaiting cashback!
Car HP 11.4% [strike]£4152.64[/strike] £0 YEAH!
Dreams 0% till Jan 2007 £0!!!
My overdraft 6.9% £834.42 £0!!!!

Overall debt total £16,019.86

Next aim: Get my Smile Credit Card paid off asap.

southern_chick

sounds like you're doing really well, its amazing how this site can get you motivated, well done SC XX

jmf76

Thanks SC, I know what you mean, I'm driving my OH mad atm with all my money-talk! But it will all be worth it in the end. It's only been 5 or 6 weeks since I've really knuckled down into this but feel I've done so much already. xx

jmf76

Feeling pretty good this month, managed to cut up a couple of credit cards, my car is now officially 'mine' and I can count the amount of debt accounts I have on one hand! Smile is obviously the biggie so that is what I'm concentrating on next.

Have also joined the Olympic Challenge and managed to get Bronze just by recommendations from DFW - the cash from my Scottish Bond (plus a few eBay sales) (thanks Clapton), so now onto Silver!

Also placed my first 'Matched bet' for this weekend, so am hoping to make a bit of cash on that - I'll see how that goes.

Debt
Debt Interest Rate Current Balance
American Express 4.9% life of balance [strike]£3817.59[/strike] £3833.51
More Than 3.9% life of balance £2000
Smile Credit 9.9% [strike]£5855.88[/strike] £5955.87
Student Loan 2.4% £2987.82 (under £3000 )
Joint account overdraft 0% till Jan 2008 then 5.9% [strike]£1358.57[/strike] £0

Debts paid off
Egg Money - awaiting cashback, Car HP, Overdraft!!

Debts paid off & accts closed!!
Argos, Egg Credit, Dreams

Overall debt total [strike]£16,019.86[/strike] £14,777.20

Next target: Get my Smile Credit Card paid off asap.

Ali-OK

You're doing brilliantly - well done. That DFD will be moving closer again at this rate! :T

It's great that you're doing some new things each diary entry - it's sure to bring in some extra cash for those debts.

Good luck with the Smile card. Large amounts can seem daunting to bring down, I had one card with £11,500 on it - so battle it head on and you'll beat it hands down!

egghead

WELL DONE XXX WISH I COULD DO THE SAME:rolleyes:

jmf76

cheers for the comments

egghead - if you haven't already get your SoA on here and start a diary - honestly it was the best thing I could have done!

jmf76

Well I'm getting there - I'm finding progress slow now but definitely going down, although wish it was going down a little faster! Wasn't online much last month so here's my Mar update:

Debt
Debt Interest Rate Current Balance
American Express 4.9% life of balance [STRIKE]£3833.51[/STRIKE] £3751.61
More Than 3.9% life of balance [STRIKE]£2000[/STRIKE] £1887.40
Smile Credit 9.9% [STRIKE]£5955.87[/STRIKE] £5764.65
Student Loan 2.4% [STRIKE]£2987.82[/STRIKE] £2907.53

Debts paid off
Egg Money - awaiting cashback, Car HP, Overdraft!!

Debts paid off & accts closed!!
Argos, Egg Credit, Dreams

Overall debt total [STRIKE]£14,777.20
[/STRIKE] £14,311.19

Current target: Get my Smile Credit Card paid off asap.