Back For Good

YORKSHIRELASS

BrandNewStart wrote: »

The biggest battle will be with my tendency to do ostrich behaviour. I get quite scared by it all sometimes and don't want to face things - which of course is exactly why I am in this situation.

Any advice / support greatly appreciated. Hope to chip in with same for others too.

Cheers

BNS

Hi, you need to kind of think - OK I have got debts, I cant change that - what I can change is how I deal with it. I had to make myself set up spreadsheets to keep track of my finances and update these spreadsheets every day. Seeing it in black and white is the only way that I stop myself slipping back into bad habits.

If its any consolation at all my debts are around double yours and we are looking at 4 or 5 years to pay it off but most of the time it doesn't worry me. What matters is that I have a plan, I know what my budget is and once you are in control it doesn't seem so bad.

Oh but of course you will have bad days, and you will have days when you give in to temptation and fall off the wagon but thats all part of the process. I wish you lots of luck!

fatbelly

BrandNewStart wrote: »

Evening all (if anyone is on here on NYE??)

I wanted to post a progress update and ask a question or two. I struggle to find the time to post on here but I like coming here when I do.

My SOA would not appear to be that much further on than it was this time last year. However,CAP originally miscalculated things and I owed more than I thought. So I have been paying about £879 off every month. So I must have paid off a fair amount by now. I know that my current debt stands at £11310.64. So it should be paid off by the end of January 2016 I think.

I got a default notice from Santander today. My overdraft with them is being paid off by CAP so I don't understand why they have sent me them. I am just trying not to get too stressed out.

In other news, home alone on NYE! My depression is not too bad so long as I take my pills - I may not be jumping for joy all the time but so long as I take my pills it keeps me on a level. I really struggle still with isolating myself. I worry a lot about all of this every day. Sometimes I think I should sell all my stuff just to speed it up. I could probably raise half of it by selling my car and other bits.

Happy New Year to everyone. I know this is not forever and I will get there one day. Just doesn't seem like it now.

Wishing you all all the best for 2015.

BNS

£879 x 8 months is £7032.

Adding to 11310 gives 18342, a bit different to the figure of 13705 you said in post 1.

But, yes, provided they've frozen interest and charges, you should be debt--free in 13 months

Default notices come with the territory and mean that the entry will drop off your credit file in 6 years.

If you did raise a lump sum you could finish these off with full & final settlement offers but you would be unlikely to get spectacular deals being on such a short timescale dmp.

How much are you paying CAP each month?

BrandNewStart

Hi everyone. I've not been on here for a LONG time!

I am a bit embarrassed at the tone of some of my posts. What a victim!

Financially I am really getting there now! I now owe £5850.13. My last payment, touch wood, should be in February. I am starting to feel positive about my financial future again, which is amazing. I am mostly surviving fairly well on my budget and keeping it ticking over.

So the end is in sight, so long as things stay the same. Just got to hang in there now. I have learned a lot and my attitude to money has changed quite a bit....

Thanks to the posters above, some really lovely replies there.

enthusiasticsaver

Just read your thread BNS and wanted to say well done for sticking to the plan and great that the end is in sight and you have done so well in learning to budget. Changing your attitude to money is actually one of the best things to come out of this. Just think how much better off you will be next year after the debt is gone. Probably one reason for the tone of some of your posts is due to depression and the fact that you are coping with it on your own. Best of luck for the rest of your plan.

BrandNewStart

Thanks ES You're right, I really want to be OK financially from now on and hopefully keep moving forward. My next target after becoming debt-free is to pay down the mortgage on my flat and then get rid of it, which would be fantastic. Then hopefully build up some savings! However I don't want to get ahead of myself, the main thing is getting the debt paid off and ensuring it never happens again.

I am working on the character traits that got me here in the first place. I still tend to do ostrich behaviour sometimes, particularly with looking at my balance, but it is no way near as bad as it used to be. And I have learned that even if I haven't got money I can survive and it's OK.

I so can't wait for that moment when I am debt-free. I guess I will have to look at restoring my credit rating then.... if I want to get another mortgage one day.

BrandNewStart

Hello all. Just an update. Have been through three days with £0 available! So hoping my rent goes into my account tomorrow morning. Still keeping on keeping on. My relationship broke up today. Been trying to keep busy and not isolate so much.

My current debt stands at 4,764.30. Looking back through this thread and trying to pin down what I actually owed to begin with. I've been paying £870 a month for at least 18 months now, so circa £15,500. Which would add up to significantly more than my original post says. I will have to give CAP a ring and find out what the original figure was. I think that will be good for morale!

I hope everyone on here is doing well and making progress.

Cheers

BNS

Bobarella

Morning
Sorry to hear about your relationship. You have paid off a whole lot since you starter the thread.
Well done for being focused and motivated. Really hope you can get it all sorted very soon.
Bob

BrandNewStart

I just got off the phone with CAP.

At one point (around Feb 2014) I owed £19,999.

I now owe 4,278.13

Not there yet but it's starting to feel good!!

BNS

Deep_In_Debt

Keep going BNS - you're doing really well.

It's great to see how much has been paid off every money and debts reducing. Very motivating even if it is just a small amount - the debts are going down and that's what counts.

There is a light shining brightly at the end of that tunnel.

Good luck.

BrandNewStart

A belated thanks for that, DiD. I got my statement through from CAP today. I'm down to £3,491.23 now. It's getting closer... Just got to keep on keeping on!