A welcome light.

QueenB.

I have been on and off these boards for a year now. Even though the LB moment has been constant there have been many slips of the wagon since last October. All the progress we had made last year seemed to have disappeared and we where back where we began treading water unable to really move forward for so many reasons especially killer interest rates.

Just a few weeks ago i was crying all the time, unable to eat or sleep and really in darkness against a seeming unclimbable wall. But today that has turned around. A light has appeared and i am excited about the future that now seems so possible.

My partner and i have been struggling for several years trying to deal with our debt, pride stopped us telling our families and we withdrew from them socially. At christmas i finally told my Father the truth and the weight that was lifted was wonderful but my partner still didn't want to tell his parents incase they where disappointed in him. But this week he took the plunge. They where wonderfully understanding and to help us get a bit of a grip on the debts they paid £5000 off the card with the highest interest rate which has always been the main problem. That also counted as this months payment which saves us £200. We can't thank them enough. This means we will actually be making over payments rather than payments that mainly paid the interest.

This really kick started us to try harder as it was a light and a step up we needed.

WE also decided to look over our loan documents and discovered to our shock we had been charged nearly £4000 for loan protection. It was a shock because i am sure we had said at the time that we didn't want it. So today we went down to the bank to ask about it and they agreed to take it off which will not only reduce the loan repayments but save us hopefully a few grand. We also found we had less time to go on the loan than we had imagined which is also a plus:D

Then we checked our bank documents closely and discovered we where being charged £144 a year for type of account we had. Well again the shock but after looking into all the details (wish we had done it the first time:rolleyes: ) we down graded the account and so that will save us another £144 a year.

With lower loan repayments and the extra £144 we will have a bit more money to throw at the CC debts and so we will be DF sooner :j

So this week we have paid off £5000 thanks to help.

And saved ourself at least a couple of grand:j

Its still a long, hard road ahead which i am sure will be full of obsticles and bad days,but with renewed motivation and not having to hide the truth from our familes i have no doubt we will get there.

The moral of this story (aside from staying out of debt:rolleyes: ) is
1. Tell those closest to you, you need the support.
2. Check every little thing you have and don't be scared to ask about anything you don't understand.

Its good to be back:D

GirlRacer_2

Good evening QueenB, welcome back. I'm glad you've told the family and feel much better in doing so. Congratulations on the savings you've made today and hope your good mood continues to get you through your debt free journey.

Bambywamby

Welcome back :T

Yes, everything is down to frame of mind and now your light bulb has clicked on and your feeling positive...you will soon have rattled down those debts.


Good luck, I look forward to seeing more of you on the board X X

hypno06

Stick around, you have made good progress and now need to capitalise on that.

You know that people here will try and do all they can to help keep you on the straight and narrow, but if you don't post, we can't help!

Good luck and keep up the good work!

SunderlandBlackCat

You've made a really good start there :T

Here's to keeping up the good work :beer:

QueenB.

Thanks everyone, i really am a bit more positive. We still have to wait to find out exactly how much the new loan repayments will be and how much we have saved by cancelling the loan protection but i am going to concentrate on other things until it arrives.

Goals for next week include trying to move some of the remaining CC debt onto a 0% card, transferring the quidco payment into the bank to help towards reducing the O/D and chasing up some shares which we want to sell again to help the O/D situation.

Also have a birthday party to organise for my son but i have saved a little for that so it won't be a strain unlike previous years.

beanielou

Great newsQueen B
Enjoy your sons party when it comes!

southernscouser

Welcome back nerd no.34! Well done on the good news and heres to a sooner DFD! :beer:

SunderlandBlackCat

Now the fee free & most of the capped fee 0% cards have gone it might be worth having a look at the Marks & Spencer &More card instead. 3.9% APR for the life of the balance & no fee works out a lot cheaper in a lot of cases than paying 2 or 3 % of the balance up front.

QueenB.

Hello SS it great to see so many familiar names still here, as well as so many new ones.

Thanks SBcat for the M&S CC info i will certainly look into it.

oops_a_daisy

:hello: Hi there nerd #34 from nerd #37

Well done on everything that you have done and hopefully you can sleep at night now that the future looks a bit brighter for you. Well done to your OH too for speaking to his parents - it was obviously a difficult thing for him to do.

Have a great weekend - OOPS