Pay ALL your debt off by Xmas 2014!

bilko89

minicooper272 wrote: »

Gosh you've all been very busy! I turn my back for a few days...

Hi Bilko89 - thanks for your patience, you're number 176!

kirstydriver, thanks for waiting too! You're number 177. \hope you get your head around the percentages, but if you're still confused let us know!

Hi xacesx , you're number 178 - good luck!

Roguey - totals updated! Well done on clearing the overdraft!

Missu - well done- you broke the 50% mark!!!

1DatAAT - glad things are going well, totals updated

Bailey25 - I'll be poised and ready with the debt free roll of honour for you! How exciting!

I still have a whole week until pay day, and I'm very jealous of everyone who has been paid so far!

After 7 whole months of pestering people, I have finally been advised my promotion has been signed off and pay rise (don't know how much) will take effect from the 1st of April!

Thanks looking forward to my first load of payments tomorrow!

Deere

Well done Bailey 25
Another two payments made this morning. I've passed the 20% mark :j
#117: 2,080/10,600

Farmer-Giles

Just to a reply to encourage and support everyone doing this, it can really make a difference. Setting realistic targets and working towards them is a great help.

15 years ago I got divorced, work income had flat-lined and I suddenly had settlement figures to pay out of an increased mortgage (chose to stick with the house) etc. etc.
A simple single spread-sheet with Jan-Dec lengthways across the top and a list of all accounts: mortgage / savings / loans / debt / credit agreement down the side.
A simple sum total at the bottom of each column.
The trick is not just to fill it in each month, but in a lighter colour, put in where you realistically expect to be for every box for every account for every future month, then update each month column around the same day each successive month.
Maybe even do a projected sheet for the next year too.

It might make depressing reading at a glance and a few projections might have to be changed as the year goes on, but I did it for 10 years, not only clearing my debt, but paying the mortgage off 5 years early too.
I now use the same sheet for where I want my savings and investments to get to by the end of each year.

Good luck to everyone,

angelbob

I haven't updated for a while as had to save some money for my car, it's in for repairs and MOT today, grr also needs taxing. Hoping it's not tooooooooooo expensive as want to pay some more debts off, so for now my total is:
#63 £630.43/£5202.67

redbooties

I checked my bank account this morning as I do every morning to make sure no random payments have gone out and I find that nearly £1600 has been paid in!! It says it's a ppi and interest refund but I claimed for a ppi refund about 2 years ago and received the refund a few weeks after??

I'm not sure what to do I was £1400 overdrawn so I could leave it there and so my overdraft is completely paid off and then if it is a mistake and the bank wants the money back, I've got out of paying any interest for the length of time it's there.

Or do I ring the bank straight away and let them take the money back now.

Bailey25

I've done it!

DFBX2014 challenge #052 £1900/£1900

Debt free :money:

Mat_Lock

Wooohoo well done Bailey

milky1991

Hi
Can I join this thread please ( I know I'm a bit late but I've just found it )

I started the year owing £12217 and so far have paid off £1187 so nearly 10%

I don't think I will be able to do it all this year but aiming to be debt free next year

FinanciallyUnsavvy

Hi guys

Another late joiner here. I put my serious debt-busting cap on in January and since then I've got rid of 20% of it (see my signature for details). Today I've decided to tighten the straps a bit more as I know I can be debt-free before Christmas.

So... here I am, ready and raring to go!

Currently I'm at:
£1,174/£5,718

redbooties

I rung the bank to see what the payment was for and they told me it wasn't a mistake and it was a refund of a ppi claim that went back to 2012 and that there is a letter being sent out to explain it. I checked through my bank statements and I was paid £1400 in 2012 for a ppi refund so I don't understand why they've given me more, I'm not complaining though lol. I've used it to pay off some of my credit card and my overdraft so at the moment I owe about £700 I will know the exact figure once the payments have gone through.

#084 £2925.79/£3625.79