PD's £50K + DMP Debt free Quest

PlymouthDad

Just a very short post to get my Diary started. I have been inspired by many others' diaries and need something I can ramble on and on for every day, otherwise I am going to lose interest very quickly!

I have a loan/ credit cards/ and overdrafts totaling over £50k. How the hell did that happen? easy! too easily! It was living beyond our means for the first £25k then me trying to gamble my way out of it for the rest. Makes me feel sick just thinking about it.

Those days are over.I'm 33 now and will be debt free before I'm 40. I cant wait for the buzz of posting on here when I am debt free. I shall be reading everyone else's diaries hoping for inspiration (puzzcat, stressedsteph thanks already)

Speak soon. Going home now to my wife and three kiddies

Puzzcat

:j yeah, good to see you have started a diary, I shall subscribe.

Love Puzz. X

PlymouthDad

Thanks puzz. I owe you a lot already. (Always owing someone it seems haha - shouldnt joke)

So this is where i am. I did a debt remedy on stepchange before christmas and ordered the action plan but didnt go through with it. I decided i didnt need it. Ive never defaulted. And what if i get bored of saving? I could just dip into some of the credit id paid off right?

Wrong. Since then ive added to my debt and if i dont sort my finances now i'll be in debt until my parents die. Horrible thought but worse than that is the thought of wasting their hard earned inheritance on credit card debt.

Im all maxed out, some on zero per cent but im getting refused new cards now. And my credit limits are getting slashed as my balances come down. Theyre on to me!!

So i spoke with my wife and explained to her that ive done a budget. And i have 700 spare to hit my debts with.

Ive written letters using templates from Puzzcat (thanks) and sent to four of my creditors with token payments so far.
Ive cancelled direct debits.
Ive applied to open a simple cashcard account

Still lots to do. I'll list my next tasks a little later. Im rambling!!

PlymouthDad

I just cancelled my last Direct Debit concerning Loans/credit cards. Got to print out some letters now for hsbc, santander, post office and barclaycard. Oh dear the list is endless.

Enjoying_life_more

PlymouthDad wrote: »

Those days are over.I'm 33 now and will be debt free before I'm 40. I cant wait for the buzz of posting on here when I am debt free. I shall be reading everyone else's diaries hoping for inspiration (puzzcat, stressedsteph thanks already)

Speak soon. Going home now to my wife and three kiddies

You've come to the right place for support - good luck - you're only young - don't beat yourself up about why you are in the debt it's wasted energy and you can't change the past - just learn from the experience- stay positive and you will sort it - wishing you well!!:)

PlymouthDad

Enjoying_life_more wrote: »

You've come to the right place for support - good luck - you're only young - don't beat yourself up about why you are in the debt it's wasted energy and you can't change the past - just learn from the experience- stay positive and you will sort it - wishing you well!!:)

Ah thank you very much! I dont feel young though...too many stress lines! haha.

Ive printed all of my credit card letters, but i'm struggling with what addresses to send token payments to for the overdrafts and personal loan....

Is it wrong to feel excited about this? I'm basically causing a massive "£$! storm and inevitable defaults on my credit file. I'm like many others tho, I couldnt care less about a bad rating as I dont ever want credit again

Puzzcat

PlymouthDad wrote: »

Ah thank you very much! I dont feel young though...too many stress lines! haha.

Ive printed all of my credit card letters, but i'm struggling with what addresses to send token payments to for the overdrafts and personal loan....

Is it wrong to feel excited about this? I'm basically causing a massive "£$! storm and inevitable defaults on my credit file. I'm like many others tho, I couldnt care less about a bad rating as I dont ever want credit again

For my loan and overdraft i sent the letters to my branch, they all got to where they needed to be!!

shinner

Good luck on your journey. I think I will subscribe.

PlymouthDad

Cracking day here in sunny Plymouth.

Sending my remaining letters today and going to start swapping all my bill direct debits over. Or at least cancel them and make manual payments until my new basic bank account is set up.

Sorted wages out yesterday so that's good. And going to pop to Lloyd at lunch to get the forms required for changing my joint account into a ..er...non joint account. ha

I guess some of the first batch of letters will be landing soon. hope the person who opens them is feeling as upbeat as I am today!

on a separate note..someone from the office appears to have 'borrowed' my i phone charger.......grrrrrrrrr

Also on a separate separate note, are we allowed to name banks? I see some people 'd1sgu1se' them......

Puzzcat

I think people disguise them so if a person who works for say natwest searches this site using natwest it won't pick up there post. I don't bother as I am easily confused and have nothing to hide!!!! Of course there may be another reason that I don't know about......

PlymouthDad

Puzzcat wrote: »

I think people disguise them so if a person who works for say natwest searches this site using natwest it won't pick up there post. I don't bother as I am easily confused and have nothing to hide!!!! Of course there may be another reason that I don't know about......

Ahhhh I see. too much for me to think about.I'm just a man after all haha.