on my way to debt free- might take a while

debtfreeme2015

Have been on the site since October when i had a mini LBM and transferred my ccard on to a 0% interest when i realised that my minimum payment was getting me no where.
Long story short I have a large amount of debt but for now am concentrating on paying off a £4000 loan which is at 22% interest and my credit card which today stands at £1069.97.

I don't expect anyone to read my ramblings its more a place for me to come at 3am when i am again woken by one of my money nightmares .

[Deleted User]

Best advice is to use the snowball calculator at the end of the Statment of Affairs (in a link at the top of the debtfree forum page) - this will show you where best to concentrate your efforts and also show you when your debtfree date will be.

Good luck on your debt free journey

debtfreeme2015

Thanks domino. I'm reluctant to do an soa as my income varies month by month as extra hours are available at work. The plan is to do 1 large overpayment to the loan (paid £190.00 extra today) as have to do this over the phone and then any little amounts left over every week will go to the ccard as i can do this online and it is currently at 0% until jan 13

debtfreeme2015

so today i have managed to do a £2 extra payment to the credit card and £190 extra payment to the loan. whilst on the phone to the loan company they said that i am entitled to another loan lol think they are catching on that im trying to pay it off. Mskes me feel sick when i think about it. Took the loan out in december 08 and every month since then have paid £100.33 and in the 3 years (before my 2 overpayments) the balance had only dropped to £3065. so ive paid over £3600 and the balance has only gone done by £935. officially i still have 4 years left to pay . Oh well of to work and my last spend day of feb as i need diesel but havent bought any since the begining of jan so not that bad and also will have had 20 nsd's in feb:T

debtfreeme2015

big spend day yesterdaybut hopefully thats it now till monday. have also got an interview lined up for next week so fingers crossed

debtfreeme2015

all payments done this month and Loan is now £2763.50. Hoping to pay another £63.50 this month also another pad to credit card of £4. Not much but its all slowly going in the right direction. Had an unexpected spend day yesterday as managed to hurt my back at work so had to spend £5 on painkillers that i hadn't budgeted for but at least by taking them i was able to work last night so no sick leave. Oh well off to bed now as another night shift tonight

MJ41

Well done and keep going I find my diary really helps me to stay focused so keep it up!

debtfreeme2015

Thanks Mj41 will keep posting to hopefully keep me on track and see these numbers coming down

Chocolate_Fondant

Good luck! Those numbers coming down will be a great incentive

GreenSaints

Hey

Welcome to diary land

I used to have money nightmares, now I have dreams of overpayment! It's lose / lose!

Well done on what you have achieved so far and good luck with the interview

debtfreeme2015

Thanks all. greensaints looks like the interview wont happen as i havent got a full birth certifate only a short version which they wont except. It's not the end of the world as there are extra shifts at work at the mo and this was just for bank shifts when i cant get extras at work.
On an Mse front managed to pay another £100 off of the loan this am and £1 of the credit card lol. Am meant to be asleep after a night shift and getting ready for another 5 this week but instead am trying to work out how fast I can pay it all off. Have some decisions to make though as am currently working over 200 hours to pay it off but not sure how long i can carry on doing that number of hours. so the question is- bust a gut and pay it all off by october ready to start the next lot of debt after xmas (am currently just paying minimum) or pay off slightly less each month but have a couple of extra free days from work