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My journey to being debt free.

edited 30 November -1 at 1:00AM in Debt Free Diaries
17 replies 2.3K views
saryloupsaryloup Forumite
27 posts
edited 30 November -1 at 1:00AM in Debt Free Diaries
Heres to my journey on becoming debt free (hahaha she says)

My names Sarah and im 26. I live in rip off Surrey, with my OH keith, and my son aged 8.5 yrs.

I work as a domicillary (carer for the elderly in the community.) and I work varying hours. 1 week i may be over run others i may be struggling to get work as its an agency but thats a whole other story. :mad:
OH works full time and shift work. Now for the nasty bit:

Firstly my debts:

I totalled this up on 09/03/07 so may be ever so slightly lower now. :rolleyes:

LLoyds loan-£1500
LLoyds credit card-£964
Egg credit card-£783
Littlewoods card-£304.85
Store card-£50

Total £3601

Outgoings each month:

Rent £400
CT £125
Car finance £200
Pet insurance £40.97
Phone/BB £40
Sky £25
Mobile £25
Electric £116
water £5
Food £120
Petrol £50

Total £1186.97

I havent workd out our incomes yet but i know we are losing money each month.

I am currently half way through getting my bank charges back.
Im owed £1467.67 from lloyds tsb and ive just written the 3rd letter saying i will get the courts involved next. GRRR :mad:

Right i think thats enough for now. Feel free to reply to this if you want anyone. xxx
Proud to be dealing with my debts
Claimed £1657 back from lloyds.
Have paid all my debt off with bank money
(£1300 worth)

Only a £400 loan left to pay now.


  • mrsspendalotmrsspendalot Forumite
    3.2K posts
    Hi and welcome to DFW. When you have all your income details worked out it would be worthwhile posting all your APRs, balances and minimum payments on your debt and then the really helpful clever people on here can advise you on how best to tackle paying it all off. Good luck with your bank charges xxx
    Olympic Countdown Challenge #145 ~ DFW Nerd #389 ~ Debt Free Date: [STRIKE]December 2015[/STRIKE] September 2015

    :j BabySpendalot arrived 26/6/11 :j
  • saryloupsaryloup Forumite
    27 posts
    I will do thank you -although i have no idea what apr my loan is on or my card etc have.
    I have recently cancelled the payment protection plans on my index card and loan as they did m no good and only pushed up my limit each month-id pay £15 but £26 went back on with interest and pp. Why didnt i do it sooner *SIGH*
    Proud to be dealing with my debts
    Claimed £1657 back from lloyds.
    Have paid all my debt off with bank money
    (£1300 worth)

    Only a £400 loan left to pay now.
  • D&DDD&DD Forumite
    4.4K posts
    Hi Sarah :hello: Welcome to the DFW board
    Are there any different agencies around that you can apply to to get a more regular wage? Best of luck on your journey :D Look forward to seeing how things go for you
  • bandraoibandraoi Forumite
    1.3K posts
    Cancel the pet insurance (£480 per year) and the sky (£300 per year) and reduce the phone/broadband (half = £240 per year)

    Put that lot alone with your bank charges, and you could have all your debts paid off in two years.

    Do you need the car? Could you use a moped for a year instead?
    You have no car insurance or MOT down, how much do they cost?
  • beanieloubeanielou Forumite
    75.7K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hi saryloup & welcome.
    Your rent seems high-take it thats the area that you are in?
    Your bank charges will make a big inroad when you get them so thats great.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • saryloupsaryloup Forumite
    27 posts
    In regards to the pet insurance I am really reluctant to cancel this-I have 3 pets on this and over the time I have had it Ive had to use it twice and it has saved us hundreds of pounds in vet bills.

    I dont have a car I cycle everywhere with work.
    Our car was new in 2004 so it hasnt had an mot yet but is due next yr.
    The car insurance is paid yrly and was £201. Not bad and the cheapest going-tescos.

    Our rent is very cheap for the area-im in HA housing. If I went private i would be paying £850 pcm for a similar sized property. :confused:

    Our phone and broadband is a package from BT. We cant switch as our estate has no land lines-its all through underground and many providers dont cover our area.

    Think that answers posts lol. Sorry im rushed-tea time.

    Thanks for all the replys though much appriciated. xx
    Proud to be dealing with my debts
    Claimed £1657 back from lloyds.
    Have paid all my debt off with bank money
    (£1300 worth)

    Only a £400 loan left to pay now.
  • southern_chicksouthern_chick Forumite
    385 posts
    Part of the Furniture 100 Posts Name Dropper
    good luck with becoming debt free, keep posting as it will keep you motivated to see how well you are doing

    SC XX
    slowly working towards being MF one small over payment at a time :T
  • saryloupsaryloup Forumite
    27 posts
    Got a letter regarding my bank charges:
    I am sorry you are unhappy with your bank any other buisness blah blah we need to cover costs blah blah. I do hope you will see our charges are fair and thats why we are not refunding any of your charges.
    If you dont agree with this information you are welcome to call me and discuss this or seek a financial obudsman service. (who??)

    Im really scared now. What does this mean-will go look on the bank chargs forum in a sec.

    Havent spent any money today-woohoo:T

    Thats it as its easter and child to entertain xx
    Proud to be dealing with my debts
    Claimed £1657 back from lloyds.
    Have paid all my debt off with bank money
    (£1300 worth)

    Only a £400 loan left to pay now.
  • Time to issue the court summons methinks. XX
  • CrownCrown Forumite
    1.4K posts
    Hi Sarah,

    Please be careful before taking the next step with reclaiming your charges. Make sure you read MArtins Article fully and check the related forums.

    It is a good idea to set up a "parachute" account so if the bank kicks up a stink that you have taken them to court and wants to close your account you will not be left high and dry.

    Good luck
    Official DFW Nerd Club - Member no. 297 - Proud To Be Dealing With My Debts :D
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