Build a new life in 3 yrs.

Smithfield

Its just annoying me paying £16 a month that goes to nothing. Double that and it would be no debt in two years.

Capital one is progressing pretty well, nearly half paid off.

Smithfield

Considering making a full and final to capital one now its at £580, would this make my credit rating even worse, if marked "partially settled" or better to pay off in full over longer period??

I could pay it off in full over the 2 years or have a very tight october and pay £350-400 and clear it. Then clear HSBC CC with a secured loan from the credit union next month.

I just want to get things cleared up and get building up credit again. I could buy a house near me for £300 a month, so annoying I got myself into that mess with cards while a student/on benefits

This would mean I could have cleared both the defaulted cards before christmas and be left with only my current account overdraft.

On another hugely annoying note hsbc have marked my statement with a late fee this month, I paid £16 on the sept 27th and wasn't due until 1st! So lunchtime I will be straight round to the bank. bloody grrr!

Smithfield

I just checked the hsbc payment was £16.13 and I paid £16.00 so I've been charged a £12 late fee for 13p.

GRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

Smithfield

phoned up hsbc got the 12 back and hopefully latepayment off credit rating.

Was meant to do test today, but instructor getting married friday and loads of messing about with lesson times have put it off to next month. meh.

Been a bit better cash wise atm, making packed lunches, had chili I made past few nights etc.

plan is if I can get £300 in credit union this month and £350 next month I can get a secured loan on £650 on that amount and pay off hsbc card over two years at far far less interest! Meanwhile keep saving towards deposit.

Need to look at properly spread sheeting finances again per month, so not wasting money, work lunches and food costs need cut, back to shopping list and online delivery. Its my birthday next week and have a job interview on 29th so see what happens. I'm so bored with office job, fed up in rented house I hate and still havent passed test. No use in moaning, If I can get myself free of credit card debt by christmas and the ball rolling with savings that'll be me moving in right direction at least.

Smithfield

Moderate success with lunches, kept to a budget of a pound a day for lunches and been cycling in. Saves maybe 5-6 pounds a day.

Ordered tesco shop there so back to more homecooking value orientated stuff and bits frozen for spare dinners

I've a friend coming over from scotland mid month and still decorating gf's so will be a challenge to eat well, save and still live. As much as new job annoys me at least I don't have the stress of being behind in debt anymore or feeling bad about signing on.

Smithfield

ok...

So target was to pay off all debt by Christmas. Driving has eaten up so much cash the few months its made that a bit tougher, I think I let things slip a bit with new job, but maybe a few nights out, anniversary etc was needed after JSA for that long.

So.. plan is..

£1000 by 2014 in credit union account. Then £650 of that as secured loan to pay off HSBC by early Dec, Capital one will be at £460ish by Christmas and should be paid off in 12 months regardless at 0%.

I've a £600 overdraft, but its £3.90 a month interest at the minute so not hugely focused on it, I'd be worried it would only get reduced if I paid it off .

Tough time of year for this kind of saving, but if I stay focused and have a goal hopefully it'll happen.

Smithfield

Capital one 36.10 paid - total = £544.54
HSBC £17 Paid - total = £623
TV Licence paid 12.50
Oil Paid £114
Electric paid £58.
Internet 17.50
Rent - £200
£45.50 for driving test paid.

Big bill month as most of these are quarterly (shared bills). Need to go through Bank account next and budget for food etc to see what i can save to credit union.

Smithfield

2014 update.

doing a full and final letter to capital one...

ok so I had £970 referred to Fredricksons and have a current balance of £472.12 after paying £36.10pm. I would like to clear this, this month with a final payment of £300. This would be 80% of the original amount referred by capital one. (from other F+F thread)

still have 600 on hsbc, minimum payment is £15.66 a month.

Have to start paying off budgeting loan of £506 this month £34pm, I'm hoping I can get capital one paid off (nearly £1000 of debt cleared!) which would leave me paying £55 a month all in (£5 overdraft interest) with the budgeting loan cleared in 18 months.

Going to look at maybe credit union loan for hsbc once I get capital one sorted this month.

beanielou

Great idea on the credit card loan.
Hope creditor accepts F & F.

Smithfield

Mixed bag this week.

Tried Noodle last night for credit rating and to monitor progress.

Mixed bag, turns out hsbc havent defaulted me with credit reference agency and it shows I've made an on time payment every month since july. Also that I paid off a loan in full to hsbc.

Now the annoying news despite the fact I have made every payment on time to fredricksons for over the past year, my account for capital one shows default and non payment every month!

So sent letter to Fredricksons, offering £300 f+f for fully settled. To be honest if it takes me to clear the lot by feb I want rid of that debt.

Hsbc is an odd one now, if its not showing as a default, it gives me a cheap enough means of making an on time payment to build up credit score. I'm thinking of borrowing maybe £400 from credit union, clearing that off balance and then just paying minimum payment every month to HSBC on remaining £200. This would have advantage of building up lending profile for banks and credit union over time.

Just feeling a bit fed up, driving test this month, bills and paying off capital one means another bloody lean month. My sister left uni course last week and I've to go to my best friends dads funeral on friday.

I'm really trying to get my life on track but it's proving a lot harder to undo the mess I got myself into.

I just feel like I need a lucky break, really fed up with where my life is at the minute. Gotta focus on getting myself sorted bit more every day and hopefully life will get better.