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Ive done it!!!
MoneyMum
Posts: 38 Forumite
:j:j
I'm so please ive finally cleared all of my debt! Im so happy my debts wasn't huge compared to some but as a single parent on a low charity wage it was a big stress for me.
Now the question is do i cancel all of of the credit cards, accounts and catalogs that i ran up debt with? I would like to cancel them all in one go, i have 2 defaults and my credit rating is rock bottom anyway so im not worried about that really. Do I write to each?
TIA
I'm so please ive finally cleared all of my debt! Im so happy my debts wasn't huge compared to some but as a single parent on a low charity wage it was a big stress for me.
Now the question is do i cancel all of of the credit cards, accounts and catalogs that i ran up debt with? I would like to cancel them all in one go, i have 2 defaults and my credit rating is rock bottom anyway so im not worried about that really. Do I write to each?
TIA
LBM: 6th January 2012
DMP Start date: 31st January 2012
DFD: June 2014 :j
Total Debt: £5463.65 :eek: - All gone with Payplan!! 100% gone forever:T
DMP Start date: 31st January 2012
DFD: June 2014 :j
Total Debt: £5463.65 :eek: - All gone with Payplan!! 100% gone forever:T
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Comments
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Congratulations! I am very impressed that youhave don so well.I am still dreaming of the day when I can say the same. Thinkingabout your question, I would write and cancel everything and give myself a fresh start. Well done again!!Member 116 2 pound savers club:) 167 virtual sealed pot challenge:j0
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Consider keeping one (the lowest APR credit card) for any genuine future emergencies if you don't yet have savings to fall back on. You could always request a lower credit limit on it if you'd prefer? Hopefully you will never need to use it again but it's good to plan for the worst case scenario and hope for the best
(and it would be easier than applying for new credit if you have a poor credit rating) Total debt March 2014: £11,194. Now £4,198.
0% CC1: [STRIKE]£2,240[/STRIKE] £0. 0% CC2: [STRIKE]£1,934[/STRIKE] £0.
0% CC3: £0 0% CC4: £4,198.
12.9% Loan: [STRIKE]£3,000[/STRIKE] £0
14.9% HP: [STRIKE]£1,103[/STRIKE] £00 -
Well done you! Fantastic!Debt free once - Back again | Current debt: £2479.50 - January 2025 | Make £2025 in 2025 #11 - £41/£20250
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well done enjoy your Debt Free life! Hopefully I'm not too far behind you!Debt at LBM October 2013 - £11,145 :mad:
Debt as of November 2016 - £1,5820 -
Congrats.
Now close all those accounts and start to build up your emergency fund so you don't need to use a credit card.Dave Ramsey Fan[/COLOR]0 -
NHS_worker_bee wrote: »Consider keeping one (the lowest APR credit card) for any genuine future emergencies if you don't yet have savings to fall back on. You could always request a lower credit limit on it if you'd prefer? Hopefully you will never need to use it again but it's good to plan for the worst case scenario and hope for the best (and it would be easier than applying for new credit if you have a poor credit rating)
I agree. Judicious use of your one remaining credit card will help you to build your credit rating back up.0 -
Well done MoneyMum! Good work!I realised I was a debt free wannabe in January 2014..:o
Staying positive..:oPlugging away every month..:o
Will be debt free by February 2015!
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