The "Pay ALL your debt off by Xmas 2012" challenge - PART 3!!!

tinks14_2

vw_campervan_mum wrote: »

Helpful advice please! My car keeps needing repairs. At 10 years old is it just a money pit to get rid of? No money for another one is the main reason I keep on with it. In the last month it has cost me £500. It is de-railing my debt repayments. Just broke down again today - RAC think it is faulty ignition coil which is the last repair I had done last Tuesday. I have left it at garage to look at.

If I hadn't spent money on repairs I would be half way to buying another cheap car. Now seems to be worst scenario in that I have paid for repairs but the list keeps on going.

How do I get another car that doesn't blow my debt repayments out?

Just writing this to get my frustration out I think, but any one who can make me see sensible step forward will have my gratitude

I can't believe this but I am having the exact same problem as you! It seems that every other month my car needs some attention. I have just had to take it in again today and was told it will cost me approx £130 for a new fan. Just when I think I am getting somewhere with debt repayments, I end up paying a big chunk of cash out for my car! I keep thinking that once I have replaced a part then it will be ok...this doesn't seem to be the case for my needy 8 year old car!

This is my plan...keep paying my debts and hopefully still debt free for xmas (although it might be Jan now due to the car!) and then look for a new car in the Jan sales. Surely they have offers on cars in Jan?! I will have to take out a loan for this but I will class this as a bill rather than a debt. Getting a new car is a great incentive for paying my debts off

SpagBol

tirlittan wrote: »

I agree with peeps above, pay next debt first, then it's almost one debt gone for good!

I'm 3 months away from being debt free and I'm getting serious ants in my pants. I want it gone even quicker!!! I'm trying to find a way to get it done in the next two months but I just don't seem to have the money, nothing really to sell either and some new expenses coming up. So frustrating but I guess I should be glad as 3 months is nothing after all these years!

It's 'only' £140ish that I would need to find but I can't think how!

Oooh so close! How long have you been a DFW? I would be selling everything that isn't pinned down...how about DVDs, books, old clothes? You could make it your challenge to use your 100 free 99p listings on ebay this month and next month, even if you sold it all for only 99p you'd still have done it! Or how about a car booty? Good luck

ETA: oops sorry just re-read that you haven't anything to sell...but there is the challenge! I bet you have things that you wouldn't miss but someone would buy. I know I've made a few hundred on ebay in the last year and most of it is stuff I was sure wouldn't sell.

tirlittan

Thanks spagbol!
I was looking into ebaying some things again but when I went through my stuff, there's nothing much. Definitely not 100 items but I will have to have a better sort out and I'm sure I can come up with something. Books and cd's I sold long ago, only have stuff left that didn't sell and mus1c magpie wouldn't take.

What's this about 100 free listings?

Just spoke to colleagues and they reminded me about works intranet so I'll try to sell some stuff on there first, might get bit more cash that way.

So, I'll officially declare my challenge of trying to find extra £140 to pay my debts before October! But will leave it as £10 a day challenge on sig as that would do it.

tirlittan

SpagBol wrote: »

Oooh so close! How long have you been a DFW? .

Really from after uni and breaking up with then OH and going travelling so since about 2004. But only got my LBM in 2008 after friend introduced me to this site. I have worked hard ever since but never had a 'good' job so it's been a long road and selling every spare thing I had and working all extra hours I could.

jakes-mum

another £200 to Mr Branson

New total issssssssssssssssss:


#16 6006.89/8806.89 68.2% :T:T Woohoo broken through that 6k barrier :j:j 70% im coming to get ya!

SpagBol

tirlittan wrote: »

Thanks spagbol!
I was looking into ebaying some things again but when I went through my stuff, there's nothing much. Definitely not 100 items but I will have to have a better sort out and I'm sure I can come up with something. Books and cd's I sold long ago, only have stuff left that didn't sell and mus1c magpie wouldn't take.

What's this about 100 free listings?

Just spoke to colleagues and they reminded me about works intranet so I'll try to sell some stuff on there first, might get bit more cash that way.

So, I'll officially declare my challenge of trying to find extra £140 to pay my debts before October! But will leave it as £10 a day challenge on sig as that would do it.

There's always something to sell! I bet you can do it

jakes-mum wrote: »

another £200 to Mr Branson

New total issssssssssssssssss:


#16 6006.89/8806.89 68.2% :T:T Woohoo broken through that 6k barrier :j:j 70% im coming to get ya!

Oooh well done :j

tirlittan wrote: »

Really from after uni and breaking up with then OH and going travelling so since about 2004. But only got my LBM in 2008 after friend introduced me to this site. I have worked hard ever since but never had a 'good' job so it's been a long road and selling every spare thing I had and working all extra hours I could.

Yes we've been in debt since about then too when we got married then had children, moved house etc. You must be so excited only having a few months left :beer:

recurrent-ostrich

Thanks everyone. I *know* it makes sense to clear the Next as the minimum payments are currently £270 a month, so if we clear it that's a huge extra amount to snowball towards our other debts. It's just been so nice to not be still overdrawn straight after pay day.

Overdraft fees are £1 a day from £1 to £2499, £2 a day if over £2500. We aren't really making inroads into it as our budget is so tight, but will try and shave a little off each month. If we'd cleared it, it would be quite likely for it to creep up again.

Once again, thanks. :beer:

SpagBol

recurrent-ostrich wrote: »

Thanks everyone. I *know* it makes sense to clear the Next as the minimum payments are currently £270 a month, so if we clear it that's a huge extra amount to snowball towards our other debts. It's just been so nice to not be still overdrawn straight after pay day.

Overdraft fees are £1 a day from £1 to £2499, £2 a day if over £2500. We aren't really making inroads into it as our budget is so tight, but will try and shave a little off each month. If we'd cleared it, it would be quite likely for it to creep up again.

Once again, thanks. :beer:

Is there a way of reducing ODs by a small amount each month without penalty? This is what I need to find out once DH's CC is paid off. I'm hoping so! Perhaps that would help you too?

recurrent-ostrich

SpagBol wrote: »

Is there a way of reducing ODs by a small amount each month without penalty? This is what I need to find out once DH's CC is paid off. I'm hoping so! Perhaps that would help you too?

Possibly. I'm wary of speaking to the bank about it in case they just call it in, which will leave us up doo-doo creek, paddleless!

rubywhatashmoo

I used to decrease my OD every month by £100 - did it through internet banking with HSBC with no penalties, but it warns you everytime that if you want to arrange a new overdraft within 6 months you might get charged - which wasn't an issue as I wanted to get rid of it not get a bigger one!