New Life, My DFW Diary!

spud30

I think it does give a psychological boost to pay a debt off, so concentrating on one makes good sense.

We're on a DMP, but I am trying to pay off my overdraft as soon as possible because the bank keep reducing the agreed amount. This time a year ago, the agreed amount was £2250, it then went to £1400 and I've just had a letter saying they are reducing it again to £550.

I'm sure they're trying to catch us out so they can charge us, but I wont let that happen - the balance is £450 overdrawn at the moment

Hopefully September will be a better month for all of us

Lucy1982_2

I'll drink to that!

I guess the fact that everything takes time is hard to, I just want it all paid off now, but that's not going to happen!

Well done on the OD, mine just seems to get bigger and bigger. Oh well will just need to cut down on my spending a little wont I.

spud30

My OD would've carried on getting bigger and bigger, but I opened a new current account, with no overdraft just before my DMP started.

I've only paid this much because my old employer paid my holiday pay into there - I changed banks after I changed employer and didnt give them my new details. As it happens, it was for the best because the bank started messing around reducing the agreed balance.

The agreed balance reduces to £550 next week, but I've already brought it under that. I'm pretty sure their next move will be to remove it altogether, so I need to pay it off quick to prevent being charged.

Fingers crossed for some overtime

Lucy1982_2

When I graduated my OD was at £2500 so it's much better than it was. The limit is now £650 which Lloyds are reducing by £50 each month. Although I hope to clear it before then.

The only reason I have the A and L OD was to take advantage of the 0% interest, only problem was I ran up the Lloyds one again (:mad: stupid, stupid me!!:mad: ) But we live and learn.

I keep trying to remember that what will be will be and I will pay it all off eventually. I've not failed by getting into debt (even though I sometimes feel that way) and I know Mum is really proud at the commitment I've made to paying it off the hard way and not trying to consolidate it.

Just wish I got the budgeting thing! But I have a new note book which I am going to trial a few moneysaving/budgeting ideas in. I think that perhaps I am to strict with myself and rebel against the levels I set, if that makes sense.

Shineyhappy

That isnt fair! Lloyds wouldnt reduce my OD by fifty pounds a month!! They were most unhelpful when I asked them to do that!

Ohps sorry to but in!

If you dont want to have a spending diary, what about just withdrawing an allowed amount of cash at the begining of the month and when its gone its gone?

spud30

Consolidating never works - I've tried it a few times and just ended up in more debt.

I'm convinced you have to go through these tough times while paying it back in order to learn from your mistakes. Thats what I keep telling myself anyway

Lucy1982_2

I went in and saw them one day when my card had been declined (:eek: ) it was their error, but while I was there I had a chat to one of the account managers who suggested consolidate. I just explained that I didn't want to do that, but was trying to sort myself out. She then suggested that they reduce the OD limit by £50 a month.

She was really nice and didn't push the loan (I was amazed!) so that is the plan, but I would love to clear it on my own, if that makes sense.

Have you tried having a chat to them?

Lucy1982_2

spud30 wrote: »

Consolidating never works - I've tried it a few times and just ended up in more debt.

I'm convinced you have to go through these tough times while paying it back in order to learn from your mistakes. Thats what I keep telling myself anyway

I agree totally. I tried consolidation (see my big loan) which obivously didn't work!

I've decided the hard way is the right way for me, and it's teaching me to never get into this state again. A very good lesson I feel.

spud30

No hun, they've been awful with us.

We have a credit card debt as well as the OD with them and they have been our worst creditor by far - even to the extent of lying to the courts in order to get a charging order on our house for the CC debt. They told the courts we had missed paymments, but we hadnt and CCCS have confirmed we've never missed a payment.

We'll get there on our own, without asking for their help, as I'm sure they wouldnt offer any anyway

Shineyhappy

I decided I wanted my OD gone or at least shrunk, way before my LBM and I thought well fifty quid a month, I wont miss that. I was living at home and had a lot of spare cash, which I frittered on god knows what! I should have reduced it by five hundred a month :mad: but being pre LBM I thought it would have been a waste :rolleyes: Anyway, I asked Lloyds and they said they couldnt do that and instead of reducing it on a one off by 500 or so I just left it.

I might go and ask again next time I go to the bank, if they wont do that I will ask them to reduce by 500 anyway, although I am a bit worried that they will want the lot back if I try that:o

Banks not pushing loans? What is the world coming too?:rotfl: