Damn you Credit Cards! Damn you to hell!

KP55

OK, First time poster after reading all the inspirational diaries, I thought its about time I did my own!

I'm not in *too* bad a shape as I have a pretty good stable job, but I've just let the demon credit cards rack up by overspending.

So, I have about £1400 left each month after mortgage, food, nappies etc. and have been still only chipping away each month. Now its time to knuckle down & pay off each card.

Here is where I am:

VISA: £6889:(
Mastercard: £12,643:mad:

Total : £19532:eek:

So I intend to pay £1100 per month and building up savings cushion of £1000. Once cushion is built, then I'll pay off £1400 per month.

DFD @£1100 per month is currently October 2013!
DFD @£1400 per month is June 2013!

Wish me luck!

KP55

So after 2 year 3 months, I thought I 'd post an update for all:

Where am I now? Nearly at the end of the Journey!

Since my last post another baby has lit up our lives:T . But as wife has no income on maternity leave I had to cover all the bills for 6 months. Ths has it has set me back slightly and I had to redo budget

VISA: £0 account closed

Mastercard: £2400
Card cancelled & account will be automatically closed once £0 is reached.

So from this month on I have £900 after bills to clear Credit card. So only 3 months left in a 2 1/2 year journey.

What advice can I give? If you are managing minimum payments, knuckle down, cut out the waste, watch the pennies but most of all DO NOT GIVE UP AND DON'T THINK TOO MUCH ABOUT IT!

Budget, budget, budget.

I'll never have a credit card with limit higher than £1500 again. Indeed, I have not used a credit card in 2 years. Visa Debit

Thatnk you all for inspiration to take bull by horns and (nearly) free myself from debt.

/EDIT/ To put that into context £17,100 would knock 2 years off my mortgage & save me a further £5000 in interest.

NHS_worker_bee

That's great news, what an amazing amount of debt shifting.

I try not to think about my debt too much but it is always in the back of my mind. The direct debits and overpayments are set up to transfer across automatically so maybe I will try to stop obsessing. I'll just be so pleased to see the end of it!