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It's possible
Koicarp
Posts: 323 Forumite
Current monthly payment £1,250.00
Total amount paid to date £76,811.00
Estimated total balance £410.73
Annual review date May 2012
Just wanted to post these figures up, copied from my monthly statement from CCCS, for anyone currently struggling and wondering which way to turn. As you can see from next month we will be wondering where to put our spare £1250!
I called CCCS in desperation back in 2003 with our outgoings outstripping our income, I had found them on an internet search. The staff there quickly explained how to deal with bailliffs and constant telephone calls etc, and advised we start a DMP. Our original monthly payment was £610 and we've gradually increased it as our pay increased with promotions etc. The first few weeks was awful, with creditors adding their charges and the debt increasing, and their continued telephone calls. Things quickly settled down though and the whole thing has been trouble free for the last few years. We even missed two payments, one when the boiler packed up, the other when the car was written off and CCCS dealt with it all for us.
I'm really glad we found CCCS that day, I'm not sure where we would be now had I not done so.
Total amount paid to date £76,811.00
Estimated total balance £410.73
Annual review date May 2012
Just wanted to post these figures up, copied from my monthly statement from CCCS, for anyone currently struggling and wondering which way to turn. As you can see from next month we will be wondering where to put our spare £1250!
I called CCCS in desperation back in 2003 with our outgoings outstripping our income, I had found them on an internet search. The staff there quickly explained how to deal with bailliffs and constant telephone calls etc, and advised we start a DMP. Our original monthly payment was £610 and we've gradually increased it as our pay increased with promotions etc. The first few weeks was awful, with creditors adding their charges and the debt increasing, and their continued telephone calls. Things quickly settled down though and the whole thing has been trouble free for the last few years. We even missed two payments, one when the boiler packed up, the other when the car was written off and CCCS dealt with it all for us.
I'm really glad we found CCCS that day, I'm not sure where we would be now had I not done so.
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Comments
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Excellent post, thank you for sharing this!! Enjoy your debt free day!!!!0
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Koicarp - congratulations on what you've achieved and thanks for sharingAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.2K updated 16/1/260 -
Congratulations!!!Started my debt free journey in Oct 2011Paid off so far - £0/£38000Aim to be debt free by Dec 2015! :T0
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Well done :j sounds like you deserve a treat of some kind before you start saving!
CC2 3/2/11 [STRIKE]£435.45[/STRIKE][STRIKE] 3/3/11 £425.76[/STRIKE] [STRIKE]6/5/11 £402.37
[/STRIKE] 6/8/11 £328.82
The Great Declutter 2011 - email decluttering 5/2/11 [STRIKE]2030[/STRIKE][STRIKE]3/3/11 2000[/STRIKE] [STRIKE]3/5/11 1850[/STRIKE]22/11/11 16000
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