Finish Line in sight

QuietOne · 4 May 2014 at 4:12PM

I've been reading some diaries on here and they are really inspirational and this is why I decided to create my own.

There isn't much to be said really.

My goal for this year is to clear my remaining debt by September and start saving money, for what? I have no idea yet but at the moment I am working on improving my credit file.

My first objective is to get on the electoral roll, paperwork submitted last week and now waiting for it to appear.

My second objective is to clear my Capital One balance so I can use that for monthly purchases and pay off in full every month whilst paying off two small loans. Whilst I wait until my defaults drop off.

Third objective is to clear the two small loans, one I will just leave as I only have two more payments on it. The other I will try and pay off early when I get my deposit back from the flat.

Been looking through my credit file and last late payment I had was in 2010 so yay to keeping up to date with everything in four years.

So I am seeing improvement already as I managed to get two small loans for the first time since 2007 and Natwest have offered me an overdraft of £1400. Which I didn't take

I had a Barclays account with around £1200 which they offered in 2005. So I can now get an overdraft.

My last default was in August 2010 so i'm guessing it's slowly having less of an impact on my file.

That's it for now.

QuietOne · 4 May 2014 at 8:50PM

Meh, I just remembered about my O2 refresh is two separate payments, one is the loan for the handset and then the usual line rental etc.

Though it's only £20 p/m for the handset but that £20 could go to a savings account or something.

So total outstanding on handset is £300.

QuietOne · 5 May 2014 at 11:49AM

Not much going on today, tomorrow I will contact Paybreak and find out how much my outstanding balance will be if I paid in full this month.

My van needs new rear tyres so will get that sorted tomorrow too. Luckily the company I work for leased the vehicle so I don't need to pay anything.

I owe my friend £100 so I will give that back tomorrow, it's only been 15 months, oops.

I owe my mum £150 so I may try and pay that before payday, so far I'm paying an extra £50 a month rent to bring it down but I really want to get everything paid so I don't owe anyone money.

My target for this month:

Mum £150 - Pay before payday.
Friend £100 - Pay on 6/5/14
Paybreak £412.29 but will be less if I pay off early and hoping to be paid by 31/05/14 if I get my deposit back by then.

That's it for now.

QuietOne · 5 May 2014 at 9:18PM

I was really stupid. I attempted a NationWide credit card soft search, they quoted me £500 at 17.9% and I thought great, another credit card to manage. Went to the next page and bam! Rejected

I don't mind the rejection, it's the search on the credit file will be added when I'm trying to repair it.

My fault though and I will just have to move on and focus on my debts and see how things are in a year's time.

QuietOne · 19 May 2014 at 4:35PM

Well today my letting agency contacted me about my deposit and I should be getting it back this week so yay! This puts me in a position where I can clear a lot of my debt.

My first debt I am going to clear is my Paybreak one which is £412.29 but the settlement value will be £380.69 because the interest is up until December.

I'm thinking of paying off the other Paybreak too, though I wouldn't benefit much apart from getting rid of another loan. Then I am between two minds of whether to pay my handset off or use that money and hit the Credit card.

I am leaning towards the credit card so I will most likely do that. That's it for now.

QuietOne · 20 May 2014 at 4:25PM

I need to edit my signature!

as I have paid off the larger Paybreak loan. Payday Friday and hopefully be able to pay off the smaller Paybreak loan too.

Then I can focus on my credit card and get that down to zero and use it to improve my credit file. I hope everyone else is having a good day.