New here

gettingout

Hi-I am new to this board but have followed it for a long time and some of the advice and stories have been really helpful. I had my lightbulb moment about 5 years ago and started a DMP with CCCS. I was told that I would be debt free by 2020 (!!) but the DMP has been fantastic in that it froze all interest charges. However, I also have a secured loan which I have been paying off. Until recently I thought I would never pay off my loans, but my luck has been turning around. I got a full time post at work (had been 70% until then) and I recently got a PPI payout from Central Trust for just under £3000 (a real surprise as they dealt with it all and did not charge me anything). Anyway, I have had a look at our finances and am now on track to pay off the secured loan by October of this year and the DMP loans by February 2015-I am so happy and just wanted to let everyone know that it is possible. On top of this I am not having to deny myself the little pleasures in life and we are looking forward to a holiday in America in October. I would love to follow this board and post how my progress is going. In February I hope to look back at this post having achieved my goal of being debt free, then I will move onto paying off our mortgage early. There is a light at the end of the tunnel!!

gettingout

DMP as of 02/04/14: £7500
Secured loan as of 02/04/14: £8000

Tixy

Hi and welcome to the forum and to unlurking

Congratulations on the new post at work. Bringing your DMP date forward by 5 years is brilliant.

NHS_worker_bee

Great news, there is a light at the end of the tunnel

gettingout

Thanks. I meant to say in my OP that our mortgage payments recently went down by over £200 per month as we took it out on a fixed deal just before interest rates went down, and the fixed deal is now over so much cheaper payments. Total income per month is now £2800 (me and hubbie), outgoings (bills, debts, utilities etc) is £1100 so we have £1700 left over to buy food and extras and the rest will go towards paying off debts (hopefully really quickly-at least £1000 per month).

LMJ10

Hi - well done on getting your date reduced
I've just started my plan and been given 6 years but want to do it in 3-4 years but hoping on settlements - did u offer anyone a full and final settlement?

gettingout

I've not started on full and final settlements yet as I have a secured debt which I am still paying interest on. Once I've paid that one (there is no interest on the DMP debts-it was all frozen) then I will start thinking about F&Fs.