Back again, this time to win the race

LexieLouLexieLou Forumite
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Hey, So I'm back again, having previously done so well I now need a genuine kick up the behind. I've done the budget calculator and I actually have a spare £441 a month that I can throw a debt. I've got £340 in my savings account. Technically, if i actually got a proper shimmy on I could have my debt cleared in 2 years. That is totally unrealistic as every month there is some drama that means I have to dip into my savings account.
My daughter is at uni so I need to keep a spare few £££ for any emergencies - genuine ones, not the 'I've no money for a new coat / boots / pint' dramas that Students sometimes ask for.

I've recently joined the credit union, and have been saving there. As my credit rating is 'average' but I have a big red mark against me as I cannot get my debt reduced I cant apply for a loan to actually make some decent headway in the mountain I currently hold. The credit union will let you apply for a loan which is 3 times your savings, so in theory I could save £3,000 and apply for a loan with them, and actually have my debt paid off in 4-5 years. Paying them what I am paying in min debt payments every month. I pay just over £240 a month in debt repayments....plus at the end of the 4/5 years I still have the £3k in savings and have made interest on it....
I've only an ickle bit of debt left

Replies

  • Didn't want to read and run. Well done on getting up another head of steam to tackle the debt. Have you done a SOA this time around so that you know you have budgeted for everything?

    good luck
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
  • LexieLouLexieLou Forumite
    705 Posts
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    Hey Chev, yes i have done it, that's how I know how much extra I have a month :T

    Thanks for popping by and i hope you will motivate me on my journey...

    LL xx
    I've only an ickle bit of debt left
  • LexieLouLexieLou Forumite
    705 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
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    So, just had a lady reverse into my car in a car park, while I was in it and then ask me where the damage was....the side panel is dented and the paint is scraped. She is neither bothered nor worried, charming lady altogether. I on the other hand am actually in tears as I write this as I cant actually believe its happened. Why can I not get a break with anything?

    I had been in the shop and actually stopped the man who owns it to comment to him about how good one of his staff had been the day before helping an elderly customer to her car with her groceries. I thought it was a really nice gesture and then i come out to that and her yappy hostile mate.

    So now I have to faff about with quotes to get the damage fixed. Great, another thing to take up precious time. And she'll challenge all quotes, guaranteed. Why me? Why do I continue to have bad luck?:(
    I've only an ickle bit of debt left
  • :grouphug:Oh no lexie lounge that is such a pain. There really are some quite unleasant people out there. Dodgy looking hugs coming your way hun.
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  • LittleMissDeterminedLittleMissDetermined Forumite
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    Hi Lexie

    Just wanted to pop a note to wish you luck on you debt-fee-journey, I too made inroads a few years back and then spectacularly fell off the DFW wagon...:mad:

    I'm back with new found ferociousness and determination to clear my debt, like you, I want my life back.

    Really feel for you with the car bump, some people are just awful. I had a bump that wasn't my fault last year and my insurers put me onto a claims company, they took care of everything for me and then just claimed from the other driver's insurance, could you look into something like that? I didn't even have to pay my excess.

    Lots of luck in getting it sorted anyway, keep us posted on how you're doing.

    LMD x
    Life gets in the way...PADding is addictive... Saving's better than spending...
    My debt free diary - Third time's the charm
    2023 1p challenge #11 | SPC #017 | DFBXMAS23 #12 £785/£4713
    CC#1 £0 | CC#2 £0 | CC#3 £0 | CC#4 £0 | CC#5 £0 | CC#6 £0 | CC#7 £3928 (0%) ...TOTAL £42361 £3928
    Target debt free date: 26 May 2023...117 days to go!
  • LexieLouLexieLou Forumite
    705 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
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    Thanks Lincs and LMD, I'll call the insurers in the morning, I'm just worried about the age of my car and they might decide to write it off instead of fix it. The lady who bumped me said she doesnt want to put it through her insurance, so I'll get quotes and go from there. It's just the hassle and faff and general bad luck. I think that's whats annoying me the most, I'm trying really hard and getting nowhere...:(

    I'm of to pick up some money from CEX as I left stuff in earlier, I'm hoping for £90 which would be lovely :T

    Talk soon

    Me xxx
    I've only an ickle bit of debt left
  • LexieLouLexieLou Forumite
    705 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
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    OK, back from CEX and ended up with £42 and 3 returned items. So off to the recycling yard for those. But £42 is better than nothing, so can't complain. I'm away to make dinner and then settle down with a few loads of ironing and Downtown. Night xx
    I've only an ickle bit of debt left
  • LittleMissDeterminedLittleMissDetermined Forumite
    5.7K Posts
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    LexieLou wrote: »
    OK, back from CEX and ended up with £42 and 3 returned items. So off to the recycling yard for those.

    Don't discard them just yet, CEX rejected one of my old phones saying it was 'water damaged' but it wasn't and I ended up getting £120 for it by trading it in to EE... I believe it was just that CEX already had lots in stock and had no use for more.

    Try somewhere else? Game, O2 do a recycling service or maybe music magpie?

    Not sure what it is that you're trying to sell but a little investigation might get you the other £48?

    Fingers crossed for you

    LMD x
    Life gets in the way...PADding is addictive... Saving's better than spending...
    My debt free diary - Third time's the charm
    2023 1p challenge #11 | SPC #017 | DFBXMAS23 #12 £785/£4713
    CC#1 £0 | CC#2 £0 | CC#3 £0 | CC#4 £0 | CC#5 £0 | CC#6 £0 | CC#7 £3928 (0%) ...TOTAL £42361 £3928
    Target debt free date: 26 May 2023...117 days to go!
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