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My Debt Free Day
fevlo
Posts: 203 Forumite
That’s it....Today I made the final payment to my last remaining debt and I can now finally consider myself debt free.
Although I’ve spent more time reading than posting on these forums, the Debt Free Wannabe board and the amazing people on it were my main guiding hand for helping me get to the end result. So for all your help and brilliant advice, Thank you :beer:
At its height my debt was around £12,000 and I have reduced that to zero (all apart from my mortgage) in just over 2 years.
I didn’t use a debt charity or enter into a formal DMP but decided the self-managed DMP was the way to go for me.
I eventually got the overall debts down low enough that I was able to snowball them and ended up paying off the last creditor 5 months earlier than planned.
I started the DFW journey with 3 CCJ's and a credit file littered with defaults and pay day loans. Although the CCJ's and defaults are all still there they are now satisfied and the Payday loans have all been paid and closed.
To anyone still on their DFW journey or anyone starting out.....It can be done!
Knuckle down and keep the end goal in sight, your time WILL come.
I’ve posted a bit more over on the Debt Free Roll of Honour but if I had to give one piece of advice it would be not to be scared of debt or debt collectors. I used to sit in my house fearing the knock at the door or the rattle of the letter box; I used to hate the piles of debt collection letters that would arrive every day. Take control because once you control the debt you also control the collectors.
Although I’ve spent more time reading than posting on these forums, the Debt Free Wannabe board and the amazing people on it were my main guiding hand for helping me get to the end result. So for all your help and brilliant advice, Thank you :beer:
At its height my debt was around £12,000 and I have reduced that to zero (all apart from my mortgage) in just over 2 years.
I didn’t use a debt charity or enter into a formal DMP but decided the self-managed DMP was the way to go for me.
I eventually got the overall debts down low enough that I was able to snowball them and ended up paying off the last creditor 5 months earlier than planned.
I started the DFW journey with 3 CCJ's and a credit file littered with defaults and pay day loans. Although the CCJ's and defaults are all still there they are now satisfied and the Payday loans have all been paid and closed.
To anyone still on their DFW journey or anyone starting out.....It can be done!
Knuckle down and keep the end goal in sight, your time WILL come.
I’ve posted a bit more over on the Debt Free Roll of Honour but if I had to give one piece of advice it would be not to be scared of debt or debt collectors. I used to sit in my house fearing the knock at the door or the rattle of the letter box; I used to hate the piles of debt collection letters that would arrive every day. Take control because once you control the debt you also control the collectors.
[STRIKE]DFD - 24th October 2015[/STRIKE] [STRIKE]DFD - 24th March 2015 [/STRIKE]
DEBT FREE 24.03.15
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Comments
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Well done you must be so happy :-)Debt free by XMAS 2015 #027Barclaycard: £0.00Divorce: £0.00 :jKitchen: £0.00 :j0
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Fabulous, i bet that feels good!!
Just out of interest how much money has being debt free freed up for you monthly??£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
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andyfromotley wrote: »Fabulous, i bet that feels good!!
Just out of interest how much money has being debt free freed up for you monthly??
Its a little complex because of the way I have self managed but it will free up aprox £300 per month as well as allowing me to save for some upcoming house expenses
[STRIKE]DFD - 24th October 2015[/STRIKE] [STRIKE]DFD - 24th March 2015 [/STRIKE]
DEBT FREE 24.03.15
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Ditto!!!
Congrads fevlo!!!! :beer:Debt free 24/03/2015./ On Dave Ramsey's Baby Step 3./Full Emergency Fund 2500/6000./ Got mortgage on the 28/08/15./ 2015 MFW #117 1242.89/20000 -
:TWell done fevlo - it's great to hear the good news.0
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Brilliant news well done. I started with about 13K 60% paid off but seems a long journey, love reading posts like this to inspire me.
What will you do now with the spare cash ?LBM 13039 1.1.13 Now £0 Finally Debt FreeMortgage free Oct 2019:)EFund/savings £25000 10/11/220 -
Awesome! Always good to see someone succeed at sticking up two fingers to the debt monster!Original Total: £34200.78 / Current Total: £24017.00 (July 2017) -29.88%!
DMP started March 2014. DFD: November 20250 -
so you must happy and go on for next project0
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Brilliant news well done. I started with about 13K 60% paid off but seems a long journey, love reading posts like this to inspire me.
What will you do now with the spare cash ?
For the time being the "Spare Cash" will be finding its way straight into my ISA to keep building up a good savings pot.
The DFW process might be over but its taught be an entire new financial life.
[STRIKE]DFD - 24th October 2015[/STRIKE] [STRIKE]DFD - 24th March 2015 [/STRIKE]
DEBT FREE 24.03.15
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Fevlo, so pleased and happy for you. You must be feeling a range of emotions today!0
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