debt free? i want it to be ME :)

lilly153

Have been reading this thread along with DFW for a few weeks now and have been so inspired by everybody

A bit about me
I’m a single parent with a 4 year old, I am currently at uni so not working at the moment and my income is made up of student loans (I know more debt). I am £32230.85 in debt how did I get hear considering I’m only 25 I honestly don’t even no, plenty of stupid decisions, being immature, interest and late payment fees/charges and well hear I am. After I had my son I had to give up work and everything just went completely wrong financially I couldn’t keep on top of the repayments. For the last 4 to 5 years I’ve hardly made a penny to any debt and moved house various times to get away from the debt letters, but I’ve well and truly had my LBM and from this day forward I’m going to clear my debts one by one. I currently live in rented accommodation and the only assets I have is £83.48 in my piggy bank does this count

My plan is to keep this diary up-to-date as a little reminder to myself of were I want to be in life in years to come and for all you lovely people to keep giving me as much advice as possible and share your best tips

I tried the snowball thing it told me it couldn’t do one for me as my outgoings are more than my income that’s how diar my situation is

My debts consist of

£3000 loan
£20000 student Loan (this also includes the £5000 loan that I will take out later this year for my honours year - may as well include it just now)
£1000 credit card
£1517.93 Brighthouse
£600.64 Next
£500 .27 Studio
£1168.52 cat which is now with debt collector
£443.62 o2
£250 BT
£356 Electric
£1500 Gas
£599 Home Learning College
£363 Orange
£31.87 Council Tax arrears
£900 DWP

Gosh that was slightly depressing writing all that out and I might even need to add a few things to it depending on what the credit files show

I’m going to start this off by having a clear out of anything I don’t need or that doesn’t get used anymore and get it on ebay/gumtree at the weekend I’ve also joined a few posts to help get the ball rolling to becoming debt free, I really want to be debt free by the time I’m 30 so 2016 :eek: the aim is to graduate from uni get myself a high paying job and pay pay pay. I really want to be able to get a mortgage one day and a nice little car would be the cherry on top :beer:

jwil

Good luck!

lilly153

thank you jwil

Well things have been a little hectic these last few weeks, I’ve not been very well and now DS has a really bad viral infection so between uni work and looking after him I can’t say I’ve done to many productive things towards my big clear out and listing things on eBay. On the plus side I have paid off all my council tax arrears and made another few payments to a couple of my debts.

Its payday today :j shame this joy is short lived lols
the first thing i done today was paid all my bills i have a few DD still to come out but ive left enough in their to cover them, theirs no more missing any payments and creating more debt will just need to be sensible from hear onwards
ive taken what money was left and split it into 4 envelopes, im trying this method for the first time so will report back on how well i behave at sticking to this im hoping it should be fairly easy if im just sensible, i have £50 for each week their is only the two of us but my DS takes packlunches to nursery every day and i find these can be quite costly at times so the budget head is on :rotfl:

more and more debts are starting to find me at my current address so ive signed up on this forum to the "pay one debt 2012" thread and im just trying to consintrate on paying one debt at a time this may not seem the best thing to do or indeed maybe its the worst thing i could do but i cant afford to pay anymore to any other debts while paying brighthouse, so my plan is if i can get rid of my brighthouse debt i would have atleast an extra £33 a week to pay to the other debts its not a lot but its all i have at the moment

i think what i should do is as the debt letters come in instead of ignoring them like i have done for the last 4 or 5 years i should write to them asking them to freeze any further more charges and offer to pay them a £1 a month till my circumstances change, any advice on this would be greatly appreciated or indeed a point in the right direction to such letter templates as im sure there is one on this forum somewhere all ready

i need to get back to my little patient before he decides ive ignored him for to long :rotfl:hope use all have a lovely day