Astroelle's Debt free diary

astroelle

LBM: 19th Feb 2007

I am the single parent of 2 teenage boys. 16 and 18
I have been on Incapacity Benefit for the last two years. Making token payments but fortunately I was able to negotiate 0% interest on almost all my Credit card s and loans.

Initially, I used the Snowball calculator and despaired as I got a Debt free date of May 2059.
Though this hasn't stopped me continuing my budgeting and seeking advice. I talked to Payplan who have told me to just continue as I am, as this is my best option. I was feeling a bit discouraged until just now.
I have a flexible mortgage that I can overpay on. Including that fact I recalculated.

New DFD: August 2031

Clearly this is still mega scary but so much better than before. I feel a little more hopeful.

I will post a SOA as soon as I have time. Although circumstances are about to change as my eldest has decided to leave school so I'll lose the relevant benefits and haven't yet worked out where this will leave me. Also, my fiance and I are planning for him to move in in the next few months. He has a fairly good job and no debt but an overdraft. Oh, and his own mortgage. He is hopeful that he will be able to rent his flat rather than sell and we are planning the cosmetic work required to do so (on an MSE style budget, of course). He sees this as a joint problem and is being supportive of working within my budget. Having said that I have made it clear that this is my debt and I will take responsibility for it.

Mortgage £98,738
Allders card £272.50 29.8%
Other Credit Cards and loans £32,000

Target 1: Pay off Alders by July 2007

astroelle

Monthly Incomings:

Incapacity benefit £347
Child Tax Credit £317.24
Child benefit £116.60
Maintenance £331.18

Total - £1112.02

Monthly Outgoings:
Interest/Bank fee: £10
Mortgage - £665
Council Tax - £75
Gas - £49
Electric - £64.50
TV License - £11.37
Food - £100
Travel-£10
Water rates £25
Direct line insurance £52.83

Total: £1062.70

Debts: Allders card £272.50 £11 29.8% (overpaying at least £20 a month)
All other CC + loan = £32000 £26.88 0%

littlekitten

Hi ,

Just wanted to say welcome , someone with lots of experience will be along soon with lots of helpful advise.


xx

GirlRacer_2

Hi Astroelle, Welcome to DFW's. Its good that you've set yourself a target to pay off Allders by July 2007, keep us posted on how your doing with that. Your Gas and Electricity seem pretty high to me, have you shopped around for a better deal? Also you need to list your unsecured debts with their APR's, credit limits and outstanding balances etc, I'm sure someone will be along then who can give you some more advice.

astroelle

GirlRacer wrote:

Your Gas and Electricity seem pretty high to me, have you shopped around for a better deal?

Amounts include a small amount of arrears (Curses companies that estimate bills and then lose the customer's own estimates repeatedly) Also house although small is completely openplan and I have to keep the room I am in warmer than average due to chronic pain. I become miserable and immobile if I don't.

GirlRacer wrote:

Also you need to list your unsecured debts with their APR's, credit limits and outstanding balances etc, I'm sure someone will be along then who can give you some more advice.

The list of unsecured debt is all at 0%. I will separate it out at some point but I don't have the information to hand. £21.88 is the total of the token payments I negotiated, all £5 except Triton who wouldn't go lower than £6.88 and are the most annoying of the bunch.

astroelle

I was feeling really down today. I had a miscarriage a couple of months ago and thought I might be pregnant again. I found out this morning that I'm not.
However I resisted the temptation for Retail Therapy or a glass of wine and have wandered around taking care of things and being rather OS. So a NSD today, loads of cleaning done with Stardrops, food being made according to the meal plan and the Breadmaker is on. So at least I think I am achieving something.

astroelle

Updated SOA:
Total debt I originally calculated has increased by £6000 due to my not realising that the loan interest took them several months to freeze. And the lack of any recent correspondence from Capital one caused me to overlook them. This has left me feeling a little shaky but I'm still on target to get rid of the Allders card debt in May this year. i keep telling myself one step at a time.

Monthly Incomings:

Incapacity benefit £347
Child Tax Credit £317.24
Child benefit £116.60
Maintenance £331.18

Total - £1112.02

Monthly Outgoings:
Interest/Bank fee: £10
Mortgage - £665
Council Tax - £75
Gas - £49
Electric - £64.50
TV License - £11.37
Food - £100
Travel-£10
Water rates £25
Direct line insurance £52.83

Total: £1062.70

Debts:

Overdraft: £470
Allders card £272.50 £11 29.8% (overpaying at least £20 a month) now £248.92
Global Debt Recovery £2659.23 £5 0%
Triton £6982.02 £6.88 0%
Cabot £2610 £5 0%
Capital one £2867.08 £5 0%
Cabot(loan)~ £12800 £5 0%
Trustcard £9799.92

Total debt: £38460 DFD August 2031

Sea78

HI

Sorry to hear about the miscarriage abnd you feeling down - hugs to you. Great stuff that you can still clear the Allders card soon - I know what you mean about the debts adding on. I realised that I owe my mum £1050 that isn't in my sig, although she's told me not to worry about it until I'm debt free of the others so I'm frtunate in that respect.

Have you got a date for when your bf is moving in yet? How are the plans for doing up his house to rent going?

Sea xx

astroelle

Sea78 wrote: »

HI

Sorry to hear about the miscarriage abnd you feeling down - hugs to you. Great stuff that you can still clear the Allders card soon - I know what you mean about the debts adding on. I realised that I owe my mum £1050 that isn't in my sig, although she's told me not to worry about it until I'm debt free of the others so I'm frtunate in that respect.

Have you got a date for when your bf is moving in yet? How are the plans for doing up his house to rent going?

Sea xx

Thanks for the Hugs. I'm feeling a little brighter for a few hours sleep.

The BF and I are planning for him to officially move in in May, subject to him renting his flat. I scared him a little by suggesting an MSE style budget of £50 per room for the work. He doesn't think it's possible but is willing to try. It's a small 1 bed flat and most of the work will be cosmetic. Secretly I would accept us spending a little more but he is the sort of person who will spend the whole budget given.
We are doing one room at a time, starting with the bathroom. We are hoping to have this room finished by next week. On Saturday I talked him out of a £35 ceiling light (something that has to be replaced) and we spent £20 on one that meets all the required specs and looks as good if not better. Other than that a few pounds on paint and a towel rail is all that is needed, although we will look for a cheap lino remnant to replace the floor. A few hours of cleaning and that will be that. Don't tell the BF but I may let him go a little over budget to find a slimline mirrored bathroom cabinet as I suspect it would finish the space off fully.

astroelle

Bloody Triton sent me a solicitors letter threatening to take me to court. On the phone to them now but they are a bunch of incompetent bar stewards.

Edit: Their left hand doesn't know what their right is doing, but for once the person I spoke to was human and has put a two week hold on the account while they pull their fingers out.

smashedbooboo

Hi, hope you dont mind me jumping in here. I notice you have some debts with a couple of DCas. ie. Cabot and global debt recovery. I am in the same position as you. Could you possibly post up who the original creditor was for each debt. and how long they have been in the DCAs hands. Thanks hun.