Yeeeeeeeeees!

clarab_3

The £8000 loan that has dogged me for the last 7 years of my life is finally paid off!!!

I started this 5 years ago with £33k to pay off over 4 cards and 4 loans and now I'm down to the last £5k on a single loan...

Thank you all so much, I would never have got through the first six months without you. To all DFWanabees - hang in there

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Rupert_Bear

clarab wrote: »

The £8000 loan that has dogged me for the last 7 years of my life is finally paid off!!!

I started this 5 years ago with £33k to pay off over 4 cards and 4 loans and now I'm down to the last £5k on a single loan...

Thank you all so much, I would never have got through the first six months without you. To all DFWanabees - hang in there

Lovely jubbly

meer53

Wow ! Thats amazing in just 5 years ! I congratulate you, people will be inspired, you must feel absolutely fantastic.

Squidge123

Thats great. Congratulations.

clarab_3

meer53 wrote: »

Wow ! Thats amazing in just 5 years ! I congratulate you, people will be inspired, you must feel absolutely fantastic.

I do, thanks Its been a pretty lean 5 years and I got lucky with a PPI reclaim a few years ago that really helped me on my way.

Being a DFW has forced me to do things I would never have had the guts to do on my own

Tygermoth

Congrats!

Please don’t take this as raining on your parade (because it’s not, I promise) I paid off not a un similar amount to you in about the same time span. It felt wonderful.

However the last 5k took me 2 and a half years! Because I relaxed, decided to live a little. When you have paid off 35K the last 5K is no big deal and you could do that in no time.... so it goes on to the back burner.

But until that last 5K went it didn’t feel 'done'

So from someone who knows..... push hard for the last slog and get it done

Norfolk_Jim

Fantastic - but how did yoiu do it? Share if you can so others can be even more inspired to do likewise

clarab_3

Norfolk_Jim wrote: »

Fantastic - but how did yoiu do it? Share if you can so others can be even more inspired to do likewise

No big story to be honest. When it was really tough at first, I would get massive bags of rice from chinese supermarkets, shop at lidl on payday and eat a very dull and retricted diet for the rest of the month.

I got a weekend job on top of my 10 hours a day Mon - Fri for 2 years. I never bought anything without a coupon or a code!

I used the snowball calculator to inspire me, reduced my mortgage to interest only and threw everything I could at clearing the credit cards.

I sold all the "dressed up" clothes on ebay (the kind you wear to a wedding and then say 'oh everyones seen that' and dont wear again....) and used the proceeds to buy work style clothes.

I mentioned before that I claimed my PPI on one loan I had, and that cleared my smallest credit card.

There have been a LOT of nights in with a cheap bottle of wine.

I would say the worst of it was the effect the debt had on my mental health. Stress, sleeplessness, and eventually depression. The support I had from my GP was amazing and I found new (free!) hobbies in yoga and exercise which helped.

As I started to free myself from it, I had the confidence to apply for a new job, and have increased my income by £8k over the last 3 years (Thank god - I couldn't keep up the 2 jobs for much longer at the time!)

There have been real lows. You really find out who your friends are. I slept in the office once because I couldn't afford to go home. Ive watched my friends been able to afford to date, get married, have kids...

But you know what? Im really happy. Im solvent (at last!) and I've just met a nice fella - we're planning a cheap holiday, my first in 7 years.

That last loan? Ive doubled my payment rate on it from the minimum. I could do more, but I feel free already - the oppressiveness of debt has gone, maybe Im just getting old but I feel the need to have a little nest egg as a sheild from taking credit ever again.

So. Thats me... if I can help anyone, at all, ask away!

SpagBol

clarab wrote: »

No big story to be honest. When it was really tough at first, I would get massive bags of rice from chinese supermarkets, shop at lidl on payday and eat a very dull and retricted diet for the rest of the month.

I got a weekend job on top of my 10 hours a day Mon - Fri for 2 years. I never bought anything without a coupon or a code!

I used the snowball calculator to inspire me, reduced my mortgage to interest only and threw everything I could at clearing the credit cards.

I sold all the "dressed up" clothes on ebay (the kind you wear to a wedding and then say 'oh everyones seen that' and dont wear again....) and used the proceeds to buy work style clothes.

I mentioned before that I claimed my PPI on one loan I had, and that cleared my smallest credit card.

There have been a LOT of nights in with a cheap bottle of wine.

I would say the worst of it was the effect the debt had on my mental health. Stress, sleeplessness, and eventually depression. The support I had from my GP was amazing and I found new (free!) hobbies in yoga and exercise which helped.

As I started to free myself from it, I had the confidence to apply for a new job, and have increased my income by £8k over the last 3 years (Thank god - I couldn't keep up the 2 jobs for much longer at the time!)

There have been real lows. You really find out who your friends are. I slept in the office once because I couldn't afford to go home. Ive watched my friends been able to afford to date, get married, have kids...

But you know what? Im really happy. Im solvent (at last!) and I've just met a nice fella - we're planning a cheap holiday, my first in 7 years.

That last loan? Ive doubled my payment rate on it from the minimum. I could do more, but I feel free already - the oppressiveness of debt has gone, maybe Im just getting old but I feel the need to have a little nest egg as a sheild from taking credit ever again.

So. Thats me... if I can help anyone, at all, ask away!

Wow well done, fantastic effort you should be so proud :beer::beer:

darlyn

Well done Clarab :T

newmum1

Well done I also finished paying off a loan that I had around my neck for the last 6 years and it feels good Keep going until your debt free and then you can have a holiday that is saved up for every year to look forward to