Update on my situation.

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
25 replies 3.5K views
Lucy5781Lucy5781 Forumite
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edited 30 November -1 at 1:00AM in Debt-Free Wannabe
Hi again all,

Reviewed my finances again today and was really pleased to know that my CC debts are down by £1108.43 since this time last year to £13,686.59.

The Housing Benefit over-payment debt is now £550, (this was caused by staff in the Jobseekers office filing incorrect paperwork in 2008 and yes I've appealed it twice to no avail) but I've just reduced the repayments by half to £25 (they have no set amount required, I just originally did £50 as I could afford it at the time but things have gotten tighter).

I'm also hoping to reduce my contact lenses payments which could save £10p/m and discuss token payment offer to Egg, who some how managed to keep getting minimum payment off me..... That could save me another £30-40p/m.

Today I also ended my BT, instead I signed up for Broadband from Sky, this means instead of a combined monthly spend of almost £70p/m(for Sky TV & BT) :eek: it's £32.36p/m for three months and then £42.36 afterwards, which is still quite a saving.

I'm hoping to go over full expenses with OH very soon and see if we can consider a joint account for our rent (as he's now officially on the contract with me) and utilities.

When he moved in I budgeted that half of the joint bills/rent would be just over £600p/m but he only arranged a £500 Standing Order to my account so it's no wonder I'm screwed by £80-100p/m!!!!!

Lxx
Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
DRO Completed: 30/09/2014 :T
30/09/19 - Details now dropped off debt register. :o

My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
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Replies

  • beanieloubeanielou Forumite
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    Looking good.
    You need to chat to your OH and get him to increase his payments by at least £100.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • Lucy5781Lucy5781 Forumite
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    It's looking good, OH has had a £500p/a pay rise this month and will get the same increase again after Xmas, at which point he will be increasing it.

    From the sound of it we need to do a CC shuffle for him, get him onto some 0% rates, looks like he's not been as on top of this as I was.....
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
  • You should be cancelling sky and using Freeview for a couple of years until you are debt free.
    December 2005 TOTAL DEBT at its worst - [STRIKE]£20,596[/STRIKE]
    LBM - March 2008
    Finally Debt Free - October 6th, 2011 :beer:
    Now a committed saver!!!!
    Sealed Pot Challenge member since October 4th, 2011. Member
    number 1415
  • NivNiv Forumite
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    I havent followed your situation previously but I wanted to say well done. It is good to see when people can manage what (to many) is a large debt.

    Keep up the good fight - you can do it!

    Just think about how good you will be with money when your debt is gone - loads of money!

    Niv
    YNWA

    Target: Mortgage free by 58.
  • Lucy5781Lucy5781 Forumite
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    turbo.jet wrote: »
    You should be cancelling sky and using Freeview for a couple of years until you are debt free.

    Yes, we should..... Still also trying to convince OH to quit Lovefilm (which is cheaper than him buying DVDs and games...) and doing something about giving up/reducing his gym membership (had to give mine up long before we got together :( ).

    Have gone onto a dual-fuel arrangement via links on MSE which will save another £13.24p/m and will get £15 cash back.... :)
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
  • edited 25 October 2011 at 11:01AM
    Lucy5781Lucy5781 Forumite
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    edited 25 October 2011 at 11:01AM
    Well, OH's debts are bigger than mine.... :eek:

    But, he does have the bigger salary to manage them, however, he's well past any promotional rates on his CCs and when his bank account has been overdrawn he's been paying his mobile bill and spending small amounts on them :eek:

    Made him set up a DD with his mobile company to pay the bill as soon after pay day as possible and he's now going to sort out getting his CC debts onto new 0% cards so he's actually paying off his debt not his interest!!

    He's making quite large payments to his loan (which is only six months old)so that's going down pretty quickly.

    Glad we've been able to be so open about our money together :)

    Figured that due to his not paying me the £600 budgeted, and only £500 every month, I've been paying £157p/m more than him towards the joint bills. So, I've been short another £50 p/m than I thought I'd been so I can see why I've been so much further into my overdraft than previously figured.
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
  • Have you now agreed to both pay half of the bills each? I have a flatmate and we pay half of the bills each, we both have a direct debit set up on our paydays to pay half of the total amount of all the bills to a seperate account that isn't used for anything else. That way what is left in our own accounts we know is usable and if we were to run out, the bills would still be paid.

    Don't suppose it'd be too cheeky to ask your OH to backpay his shortfall ;)
    December 2005 TOTAL DEBT at its worst - [STRIKE]£20,596[/STRIKE]
    LBM - March 2008
    Finally Debt Free - October 6th, 2011 :beer:
    Now a committed saver!!!!
    Sealed Pot Challenge member since October 4th, 2011. Member
    number 1415
  • Lucy5781Lucy5781 Forumite
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    Once he gets his second-part pay rise in December it will definately increase, perhaps sooner if changes to his monthly CC payments allow.

    A joint account may harm his good credit, mine is not great. Best keeping seperate for the time being...

    I'd love to get it backdated, but the satisfaction of being the one who's 'right' about it is good enough for me atm ;)

    Supposedly we will have £160p/m to spare once the new savings kick in next month, hopefully that'll stop my bank account slipping into fee charging territory......
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
  • It needn't be a joint account, ours isn't. The important thing is its a seperate account, with only Direct Debits (no debit card and no overdraft). It could be in either of your names.

    Its just a something that has worked really well for me for many years. The whole time I was in debt I never ever missed a payment for anything. My credit report looks great as a result :)
    December 2005 TOTAL DEBT at its worst - [STRIKE]£20,596[/STRIKE]
    LBM - March 2008
    Finally Debt Free - October 6th, 2011 :beer:
    Now a committed saver!!!!
    Sealed Pot Challenge member since October 4th, 2011. Member
    number 1415
  • Lucy5781Lucy5781 Forumite
    686 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    ✭✭
    Yes, definately needs to be considered, still on some baby steps with OH, though he seems to take reasonably well to new things...... lol
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
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