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DMP - Is the end in sight!

peteuk
peteuk Posts: 1,617 Forumite
1,000 Posts PPI Party Pooper Combo Breaker First Anniversary
in Debt-free wannabe
I think we are turning a corner....heading for the home straight.

Back in 2005, my son was born and we had all sorts of debts. Step change (CCCS) helped us out and put us on a DMP. At the time we had 12 debts totalling just under £45K?

So as we start 2013! we have three left, totallying just over £15K. By Nov of this year it will be down to one. By the end of 2014 we will be debt free!!!

Obviously I would love to bring that down sooner, who knows!

Anyone else facing being debt free soon?
Proud to have dealt with our debts
Starting debt 2005 £65.7K.
Current debt ZERO.
DEBT FREE

Comments

  • antonic
    antonic Posts: 1,977 Forumite
    Part of the Furniture Debt-free and Proud! First Post Photogenic
    June 2nd 2013 for me.

    90 months to clear to approx £23,500.00

    Cant wait !
  • katy_ann
    katy_ann Posts: 1,088 Forumite
    Part of the Furniture Name Dropper 1,000 Posts Debt-free and Proud!
    Amazing news, good luck to you on the home straight!
    Debt free once - Back again | Current debt: £3002.96 - January 2023 | Currently repaying £50 a month - Estimated DFD Jan 2028 | Make £2023 in 2023 #51 - £33.75/£2023
  • Delree
    Delree Posts: 540 Forumite
    First Post Part of the Furniture Debt-free and Proud! Combo Breaker
    I got there on my xmas pay packet after two and a half years, it's a wonderful feeling and the education you pick up in terms of budgeting and thrift stands you in good stead.
  • Ellieseleven
    Ellieseleven Posts: 2,118 Forumite
    First Post Debt-free and Proud! Combo Breaker
    Fabulous news! We are looking at March 2017 but hoping to knock at least 1 year off that
    Debt Free 1st March 2017

    My diary: http://forums.moneysavingexpert.com/showthread.php?t=2599257&page=36
  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579 Forumite
    Debt-free and Proud! Mortgage-free Glee! First Post First Anniversary
    Yes, hopefully July this year or sooner if I have my way. Taken me 5 years to clear £30k of debt.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
  • Mort
    Mort Posts: 552 Forumite
    Debt-free and Proud! PPI Party Pooper Combo Breaker First Anniversary
    Good luck to you all.:)
    Proud to have dealt with my debts, became debt free on 03/11/2011. Repaid £54,723.41 LBM May 2006.
    Debt Free Roll Of Honour #504
    Mortgage Free from October 2019
  • peteuk
    peteuk Posts: 1,617 Forumite
    1,000 Posts PPI Party Pooper Combo Breaker First Anniversary
    Hi Guys,

    I second Mort! Good luck to you all.......

    Its been a rocky road, with the DMP payments going up and down depending on personell circumstances. Im sure that im not the only one who has felt it would never end.....

    With just three to pay, who knows. Every cloud though has a silver lining, but this silver lining comes with a cloud. We move in July and that means my wife will be unemployed (again) but hopefully not for long. I think the longest period shes been without work is 2 months....might be different this time.

    Thanks again for sharing your goals, I hope we all reachour targets.

    Pete
    Proud to have dealt with our debts
    Starting debt 2005 £65.7K.
    Current debt ZERO.
    DEBT FREE
  • beth3735
    beth3735 Posts: 499 Forumite
    Debt-free and Proud! First Anniversary Combo Breaker First Post
    Well done for paying such a huge chunk and yes the end is near for you :) Good luck for the last 3 creditors.

    I started my DMP with Step Change in Dec 2006, oweing little under £17k. After lloyds had put on over £1.5k of debt it meant i owed around £18k It seemed like i would be paying it off for years. But these past 6 yrs have flown.

    I am due to end my DMP in Oct 2013. I am hoping to pay it by the latest of end of July 2013 before my 30th birthday :)
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