The "Pay ALL your debt off by Xmas 2012" challenge

rusty1987

Hi folks! I am totally ready to join and sort my life out. My debts have mounted up and I will get rid of them come Xmas 2012! Here is a list of my debt and when I'm going to pay it off. All credit cards are currently on minimum repayment.

Payday Loan 1 - £375 (29/11/2011)
Payday Loan 2 - £312.50 (29/12/2011)
Loan 1 - £400 (2 payments left 03/01/2012)
Credit Card 1 - £600 (29/01/2012)
Credit Card 2 - £500 (28/02/2012)
Loan 2 - £1440 (£110.90 a month until I pay final £700 03/05/2012)
Credit Card 3 - £900 (27/07/2011)
Credit Card 4 - £2000 (28/11/2012)

I also have my car repayments but if I clear the above debt first I'll be dancing in the street!

So total debt is £6527.50:eek:

strawberryR

About four years mainly, took a loan out to buy a car and was very stupid and took two loans out to buy, car came from one of those finance places, Couldn't keep up with payments as had a loan with my bank as well from when at uni, car was taken back and sold so since then have been paying back for car I don't even have which is hard.

I have definately learned from my experience!

strawberryR

rusty1987 wrote: »

Hi folks! I am totally ready to join and sort my life out. My debts have mounted up and I will get rid of them come Xmas 2012! Here is a list of my debt and when I'm going to pay it off. All credit cards are currently on minimum repayment.

Payday Loan 1 - £375 (29/11/2011)
Payday Loan 2 - £312.50 (29/12/2011)
Loan 1 - £400 (2 payments left 03/01/2012)
Credit Card 1 - £600 (29/01/2012)
Credit Card 2 - £500 (28/02/2012)
Loan 2 - £1440 (£110.90 a month until I pay final £700 03/05/2012)
Credit Card 3 - £900 (27/07/2011)
Credit Card 4 - £2000 (28/11/2012)

I also have my car repayments but if I clear the above debt first I'll be dancing in the street!


So total debt is £6527.50:eek:

:T Hi glad I am not the only newbie! be glad to get all mine down and sorted. :T

mf0u1098

strawberryR wrote: »

:T Hi glad I am not the only newbie! be glad to get all mine down and sorted. :T

Hi strawberryR, you are by no means the only newbie. We've got a lot of first time posters on here and I'm very honoured that you want to join our team so thank you. You'll find a huge amount of hints, tips and support on this thread and indeed on the rest of the forum so don't be afraid to ask us anything or just post whatever you want to! Well done for taking this first step towards debt freedom xxx

mf0u1098

rusty1987 wrote: »

Hi folks! I am totally ready to join and sort my life out. My debts have mounted up and I will get rid of them come Xmas 2012! Here is a list of my debt and when I'm going to pay it off. All credit cards are currently on minimum repayment.

Payday Loan 1 - £375 (29/11/2011)
Payday Loan 2 - £312.50 (29/12/2011)
Loan 1 - £400 (2 payments left 03/01/2012)
Credit Card 1 - £600 (29/01/2012)
Credit Card 2 - £500 (28/02/2012)
Loan 2 - £1440 (£110.90 a month until I pay final £700 03/05/2012)
Credit Card 3 - £900 (27/07/2011)
Credit Card 4 - £2000 (28/11/2012)

I also have my car repayments but if I clear the above debt first I'll be dancing in the street!

So total debt is £6527.50:eek:

Hi rusty1987 and welcome to the debt busting team! :j I'll add your name and total onto the 2nd post. I'm so impressed with how organised you are! I know you can do it xxx

salkunh

Welcome to the newbies (she says when not even in double figures on post count lol). It's awesome knowing we're all in this together

I've finally managed to list some items on ebay! On more than one occasion I wanted to just give in (especially when having to call up ebay because entering my password wasn't enough security for them :mad:) but I got there in the end!

Plan for tomorrow is to take back the bedding to Asda and hope they'll give me some money for it. I'm not holding my breath, but need to know before Thursday if they will or not so I can do a 3 day listing on ebay if they won't And hopefully get another NSD.

Am going to try and work out whether my calculations were correct in terms of what I owe as well. I know from my credit report I have a few debts who aren't chasing me. Is it best to contact them, or leave them be until I've cleared some of my others? They're already defaulted (some have been for years) so I'm not sure what point there would be to contacting them other than to say I plan on paying you back at some point in the next 12 months...what does everyone think?

strawberryR

Thank you mf0u1098 I feel like a lot has been taken off my shoulders, have started looking at ebaying a few things OH said he would help, as they say the only way is up!!

rusty1987

Hey strawberryR. Us newbies have to start somewhere! Lol

Thanks for the welcome mf0u1098

I think I'll be posting on this during my lunchtime too when moments of weakness are encouraging me to go out and spend money!

mf0u1098

Hey strawberryR and rusty1987, we are also doing weekly mini challenges on here to keep us all motivated and for a bit of fun! Kerri_DFW is leading these and this weeks is "no buying chocolate or sweets" Tues-Tues 1am I think...! You don't need to do these challenges if you don't want but we thought we'd spice things up a bit! xxx

Malmol09

Ok, happy days, I've just checked all my debt totals, including the pesky student loan, and my current debt total is.....

£17630.02:eek:

Slightly less than I thought yesterday.

Looks nasty written down.....just got to get paying, every penny counts I guess!!