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New year new me and stuff!
Mamma_hen
Posts: 3 Newbie
Hello all
I did have a diary on here previously but can no longer find it so here I am back with a new username and more debt!
I would like to say there is a valid reason for the increase in debt, but no there's not. Yes, we have had a few big changes , buying a car, moving home and redundancy, but not to warrant the debt levels. I'm unsure of the current total. Around 25k but will be back with up to date figures.
The way I'm planning to tackle this debt is in bite sized chucks. Smallest debt first. I find this to be the most manageable and least overwhelming way. I'm a very good ostrich and have excellent head in sand skills!
Living off of the cards whilst I was redundant and then also working month in hand was hard but I have been paid now so should be able to get things back on an even keel and less scary.
New job pros and cons
Pros
Excellent money (over double take home pay of last job)
Location (less than 5 mins travel)
Hours (sort of flexi timeish, can please myself in a way)
I enjoy the work
Cons
Very stressful
Longer hours than last job (finding if difficult to juggle work/home balance)
No paid holidays/sick pay
NOT PERMANENT! (That's the biggie)
So the pressure is on to clear the debt before my contract ends.
So why now? I never used to mind being in debt and once had a ccj, I considered it a way of life! But having my DD almost 6 years ago things changed and I became a responsible adult!
I began paying everything on time, got some bad credit credit cards and changed my ways.
Today the problem is that I have too much debt, too many credit accounts that I can't get any more, as I des covered when natwest declined my cc balance transfer request this morning.
So no more shuffling I have to do it myself.
Ok debts
I have a secured loan I think about 11k
Unsecured loan 9k
Cc1 1.8k
Cc2 1.5k
Cc3 1.6k
Cc4 400.00
Car 4k
Catalogue???( I know I have 200.00 to pay before 21st February)
Ins about 800.00. Have a letter shoved somewhere I need to find
Dad 500.00
:eek:
Bit hairy when you look at it all like that and more than 25k!, but no one else will pay it and it won't go away on its own.
When I receive redundancy money that will pay my car off, car is due to finish being paid on August 2016
Plan of action
Dad
Cc4 ( then close)
Ins
Catalogue
Cc1 (then close)
Cc2 (then close)
Cc3 but keep for emergency as lowest rate and mainstream card (others are from when I got bad credit credit cards to sort myself out!)
Charges on secured loan
Over pay unsecured loan till finished
Finish secured loan early (due to finish jan 2018)
Well wish me luck
I did have a diary on here previously but can no longer find it so here I am back with a new username and more debt!
I would like to say there is a valid reason for the increase in debt, but no there's not. Yes, we have had a few big changes , buying a car, moving home and redundancy, but not to warrant the debt levels. I'm unsure of the current total. Around 25k but will be back with up to date figures.
The way I'm planning to tackle this debt is in bite sized chucks. Smallest debt first. I find this to be the most manageable and least overwhelming way. I'm a very good ostrich and have excellent head in sand skills!
Living off of the cards whilst I was redundant and then also working month in hand was hard but I have been paid now so should be able to get things back on an even keel and less scary.
New job pros and cons
Pros
Excellent money (over double take home pay of last job)
Location (less than 5 mins travel)
Hours (sort of flexi timeish, can please myself in a way)
I enjoy the work
Cons
Very stressful
Longer hours than last job (finding if difficult to juggle work/home balance)
No paid holidays/sick pay
NOT PERMANENT! (That's the biggie)
So the pressure is on to clear the debt before my contract ends.
So why now? I never used to mind being in debt and once had a ccj, I considered it a way of life! But having my DD almost 6 years ago things changed and I became a responsible adult!
I began paying everything on time, got some bad credit credit cards and changed my ways.
Today the problem is that I have too much debt, too many credit accounts that I can't get any more, as I des covered when natwest declined my cc balance transfer request this morning.
So no more shuffling I have to do it myself.
Ok debts
I have a secured loan I think about 11k
Unsecured loan 9k
Cc1 1.8k
Cc2 1.5k
Cc3 1.6k
Cc4 400.00
Car 4k
Catalogue???( I know I have 200.00 to pay before 21st February)
Ins about 800.00. Have a letter shoved somewhere I need to find
Dad 500.00
:eek:
Bit hairy when you look at it all like that and more than 25k!, but no one else will pay it and it won't go away on its own.
When I receive redundancy money that will pay my car off, car is due to finish being paid on August 2016
Plan of action
Dad
Cc4 ( then close)
Ins
Catalogue
Cc1 (then close)
Cc2 (then close)
Cc3 but keep for emergency as lowest rate and mainstream card (others are from when I got bad credit credit cards to sort myself out!)
Charges on secured loan
Over pay unsecured loan till finished
Finish secured loan early (due to finish jan 2018)
Well wish me luck
0
Comments
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Saving for exact figs0
-
Saving this too!0
-
Just thought I would say Hello Mamma Hen! You sound like you have a good plan, and I'm sure you'll get the debt busted!!
I have just started a new diary too, and for the first time ever I did a SOA - it wasn't as bad as I thought, although my debt total was more that I would like it to be!
Will subscribe to your diary and hopefully we can keep each other motivated!
Mrs S x1st Jan 2014 £20,600 / 1st Jan 2015 £15,572.90**Feeling Hopeful that 2015 will be our Debt Free Year**0
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