Pay ALL your debt off by Xmas 2015!

My_Own_Little_House

Hey everyone, sorry I've not been around for a while. I think I pummeled it too hard in the first 2 weeks of January and have been absolutely skint ever since so no more payments yet I'm afraid. Also my interest has been added on after my statement date so my debt will have gone up

I also pulled my back out just before Christmas and am still seeing a Chiropractor twice a week (dropped down to once a week from now on thankfully) plus my Pilates weekly 1:1 session so it's been costing me a fortune. I finally feel as though I'm getting somewhere now and I can feel myself getting more flexible! :T

Speaking of which, I have a date coming up!!! :rotfl: Luckily due to work schedules (he's a pilot :heartpuls) then we can't actually meet up until mid March but at least that gives me 4-5 weeks to lose a stone and tone up (plus get my hair done obviously!) :rotfl: We've been out before years and years ago and he's lovely but I'm so nervous! He's 6 yrs younger than me and has a body like a Greek God... Maybe I should just ask him not to wear his contact lenses... :rotfl:

Hope everyone is well, I'll update my total next week once all my usual DD's have been taken xxx

starnac

Oooh good luck IvyandEleanor on your date. How fab to have such a long notice period to "prepare" too

ali_bf

nolongerindenial wrote: »

Keep your Chin up! Sorry if im teaching a duck to quack with the below

First thing first, if I was you that saving of £258 a month, its not a saving at all, if you are managing now continue to manage and that £258 a month accelerates payments of your other debts.

If your credit rating is rated as "your in so much poo your in the sewer" like mine, change your attitude with money and only live off what you earn... open a fresh account, get all your payments paid into that account, then one by one prioritise your outgoing payments and transfer the direct debits to that account ensuring write to the bank and request they freeze charges as you are in financial difficulty and to put a hold on. I wish I had done this it would have saved me a fortune!

Thanks for your advice. I've set up a 2nd bank account and when I asked the bank to freeze my charges due to financial problems, the answer was a resounding no. It would save me an absolute fortune if they would do this.As for the credit rating, you've hit the nail on the head lol

dktreesea

Paid off another £614 just now, so totals are:


122 £3285.08/£30,113 10.91%

Still a bit behind where i wanted to be. I figured to pay it all off by the end of the year I would need to pay of £83 a day. Somehow didn't sound as overwhelming as £30k. But I'm barely into the year and have already fallen behind. Not giving up just yet though. :-)

Good luck to everyone on this journey. Wouldn't it be great if we could all get medals by the end of the year!

Kittycat1981

Hey all x

Great to see so many people still on the wagon.

Ive had some fantastic news. I GOT THE JOB! I had two interviews in 4 days and got both jobs. I took the second job offer.

Its a secondment for a year, full time with a payrise. After tax, NI and Pension i will be £560 a month better off Im over the moon.

April will be the first payday with the higher salary - so looking forward to paying it towards the debt.

Ive worked out i should be debt free by November if i stick to my spreadsheet and also have enough to pay for our holiday outright for this year and next.

SavingForTravelling2012

Hi

I know it's almost mid Feb but is it still possible to join this challenge? I have to get rid of approx. £4,000 of debt this year. Thanks.

rubywhatashmoo

Kittycat1981 wrote: »

Hey all x

Great to see so many people still on the wagon.

Ive had some fantastic news. I GOT THE JOB! I had two interviews in 4 days and got both jobs. I took the second job offer.

Its a secondment for a year, full time with a payrise. After tax, NI and Pension i will be £560 a month better off Im over the moon.

April will be the first payday with the higher salary - so looking forward to paying it towards the debt.

Ive worked out i should be debt free by November if i stick to my spreadsheet and also have enough to pay for our holiday outright for this year and next.

WOW that is quite a payrise! Congratulations :T:T:THope you did something to celebrate :beer: (something MSE of course! :money:

Ccarter

Cleared my kitchen loan yipppeeee!

New total is:

#0027 £1784.11/£4535.13

nolongerindenial

ali_bf wrote: »

Thanks for your advice. I've set up a 2nd bank account and when I asked the bank to freeze my charges due to financial problems, the answer was a resounding no. It would save me an absolute fortune if they would do this.As for the credit rating, you've hit the nail on the head lol

Ive had the resounding no's a number of times, the key to persuading them to change there mind is cost them more than the charges they are receiving.

I did this (in a immaturely annoying way) by wording an appeal letter to there decision and sending it in again and again every time they said no. If I recall correctly it mentioned the Financial conduct authority and how they were in breach of its guidelines, but it was 6 years ago.

The purpose of the second bank account, get everything paid into that account, and only essential payments out of that account.

One thing I did and I would not suggestit unless you are in serious trouble and your credit record is already shot and you no longer care about it like I didnt (At my worst I was 28 days away from being kicked out of my house for missed payments on my mortgage), in previous years we had bailliffs knocking because we couldnt pay, which only through a bit of luck and knowledge of the system did I know that they couldnt touch me as only one debt went through the court.

At this point I took a very harsh decision to cancel every single direct debit and negotiate to pay them monthly by card, with only essential (Mortgage, Council Tax, Gas and Electric and Water) going through Direct Debit. I did this because some months I could have £300+ in charges, the highest month was £575, and this removed all this part of the spiral.. but destroyed my credit file completely.

starnac

I've been paid some money I was owed so off the loan it went. :j

#87 £1,109.64/£4,827.56 or 22.98%