Debt Free by 40

wilky371

Received letter from LTSB thanking for my reclaim letter, however they would like 4 weeks to look into the matter :eek:

From what I have read on this site and others, this is a standard reply.

Therefore I have sent my second letter giving them 14 days or i'm off to file some papers with the courts. :j

Had a good month in work, should be getting some commission.

Also, I have set up my new bank account in case LTSB close mine, the boss paid me via online & he said i've put a little extra in as you are doing good at work, looked this morning & he's put an extra £500 quid in. :T

Nice to know there are good bosses out there.

Seaxwyn

Wow Wilky that is indeed a very nice boss! And must be well deserved.

You seem very organised so I'm sure you will get there before the big birthday. I'm aiming for 50 myself...

Good luck

tesuhoha

Good Luck. Trouble is, youre wishing your life away. Im doing it too. Life will not be worth living until the debt is gone but by then I'll be too old to enjoy it. :sad:

tesuhoha

Sorry for the previous negative comment but that was my first thought when I woke up this morning. Im not really enjoying life at the moment and is 100 percent due to the debt. I am wishing years away and life is so short.

Sea78

Hi

Just saw your questions baout CCCS and Payplan - I'm with CCCS and they have been wonderful. I would definitely try ringing them. Don't try any other company as they will charge!

Sea xx

Sea78

wilky371 wrote: »

Nicola, thanks for the birthday wish X.

SOA as follows:

Abbey £1208
Food £325
Car Finance £252
Loan £242
Loan £143
Loan £116
Sky £38
HP £39.79
Car Ins £33.60
Kids bonds £30
TV Licence £18
Gas maintenance £14
Telephone £20
HP £14.73
Freemans £25
Next £25
Argos £14
Gas £30
Electricity £30

Total £2618.12

Wages £1757 + £105 (child ben) + £455 (tax credit) = £2317

As you can see running at a loss at the moment.

Can you not reduce/cancel your sky? Would you be able to postpone paying into the kids bonds for the time being? Have you got 2 kids? If it's just three of you, the food bill seems a little high - could you reduce this?

I would def recommend CCCS as they have been wonderful with me. How did the Payplan interview go?

I also feel like I;m wishing my life away a bit

Sea xxx

chevalier

my comments are in blue

SOA as follows:

Abbey £1208I assume this is your mortgage? Is it repayment or interest only? Can you get another deal anywhere else?
Food £325how many is this for. I spend £300 a month for 2 adults and 2 children but this is for food AND petrol. Have a look on the oldstyle forum for great advice on cutting this back. However the main things are use up what you have in cupboards/freezer, meal plan, then use the plan to do the shopping list and buy only this.
Car Finance £252for all of these we need the total debt and the APR. Then we can suggest which one you should snowball. Have a look at https://www.whatsthecost.co.uk for more details.
Loan £242
Loan £143
Loan £116
Sky £38can you go to freeview? if you phone and say you are leaving they sometime give you a deal to keep you.
HP £39.79
Car Ins £33.60 is this for one car then this is quite high. have a look on https://www.confused.com for a cheaper quote. if you find one then join https://www.quidco.com, as many insurers do cash back on new policies
Kids bonds £30unless you will lose money then effectively what you are doing is borrowing money at a high rate to save it at a low rate. Does this make sense ?
TV Licence £18thought tv licence was£11 a month
Gas maintenance £14
Telephone £20
HP £14.73again apr's please for the below. As you got £500 from your boss, perhaps you could pay one of these off in full. Store cards/catalogues virtually always have high APR's and settling one will improve your credit score too:D
Freemans £25
Next £25
Argos £14
Gas £30
Electricity £30

Total £2618.12

Wages £1757 + £105 (child ben) + £455 (tax credit) = £2317

As you can see running at a loss at the moment.[/QUOTE]

I think if you really tackled the food, plus had a look at sky and children's bonds, then you could get this back to being in balance. However I didn't notice any building or contents insurance?

Can either of you get a second job? can you ebay anything that is not been used for 6 months?
Every little helps
chev

postingalwaysposting

this is a good challenge and it may be a push but if you want to do it then do it... but i agree to tes to an extent... what are you going to sacrifice/give up in order to reach your goal? and this has to be quite drastic..you have 2 years to pay off £56.861.00 thats £28.430.50 a year... i know you have quite a good wage, but still dont you think this is a huge task... especially as you are over spending now... i do like challenges etc but they must be reaslitic...

anyway good luck and i do hope you get there and prove me wrong

blownalot

Just to clarify :

Sea78 wrote: »

Hi

Just saw your questions baout CCCS and Payplan - I'm with CCCS and they have been wonderful. I would definitely try ringing them. Don't try any other company as they will charge!

Sea xx

I believe that CCCS and Payplan dont charge. I am with Payplan and the only fault I have had with them is that it sometimes takes ages to get to speak to them on the phone - I think this is linked to how busy they are at the moment. I went to CCCS originally but left them after waiting 6 weeks for them to send my Income & Expenditure to me for me to agree before they sent it to my creditors, the advice they gave however was spot on.

Sea78

blownalot wrote: »

Just to clarify :



I believe that CCCS and Payplan dont charge. I am with Payplan and the only fault I have had with them is that it sometimes takes ages to get to speak to them on the phone - I think this is linked to how busy they are at the moment. I went to CCCS originally but left them after waiting 6 weeks for them to send my Income & Expenditure to me for me to agree before they sent it to my creditors, the advice they gave however was spot on.

Yep - neither charge - I've not had any problems getting through to CCCS but I know others have had a wait.

Sea xx