Bleachbird's twitterings!

lunar

Hi Bleachbird.

Ihave about the same amount of debt as you and i have found this site really helpful in givin me a focus. i lurked for ages before i joined, it was only then that i really felt motivared to reduce the debt.

If you worked out a SOA then people would be able to make suggestions where you could save money and it would help you see where you are financially.

SarahNeedle1872

Hi Bleachbird, welcome to MSE/DFW....
I'd echo what Unixgirl said, have a look at some of the challenges, they definately help to keep me focused!

Sarah x

Bleachbird

Hi Lunar,

Thanks for the advice re: SOA. I will do one once I have paid off my overdraft ( by the end of September- is currently £1000) so then I will be able to see alot clearly what to focus on next. It has to be that pesky cahoot flexible loan. what a pain that is! currently at £8700.

You are soooo right about the motivation thing though. It is quite remarkable.
I do feel fully accountable now finally and it is giving me a strange warped buzz to know that i will eventually get rid of this debt!

bb

Little_Pickle

Hey BB!!!

Welcome and good luck!!!

squeezes,
LP
xox

FrugalJo

Hi BB
Found you on Lunars diary, similar amount as you and Lunar including a nasty Cahoot loan and OD, wish I'd never bothered with the damn thing, nothing to show for it.

Like you I had an emergency £5 in my purse this week, was attempting a no spend week, hasn't quite happened but will try again this week.

Will read your twitterings with interest

Bleachbird

Hi guys,

Thanks for the support. I think my brain has clicked into another phase now I am signed up on here.
I think my first step is to get rid of the OD. HSBC are so kind charging me every month!!! claimed £650 back earlier this year and will have to wait till the outcome of the test case next year before I can put another claim in. So will have chopped the OD down to £1000 from £1600 this month by payday. It will be amazing when that is gone. I know it is not much, but it is a start. Then that Cahoot will get £1000 thrown at it a month and anything else extra I can earn from AQA, Ebay, quidco, cashback sites etc. 8 months max to clear that one- but trying for 6!. Then the biggie. all the rest is credit cards. cut them up ages ago. so not had temptation for a bit.Thankfully have a decent permanent job so the money is coming in and a hubbie who pays the mortgage etc so got a bit more to play with.
also in the process of getting a heavily subsidised lease car from work. £90 a month form brand new vw tdi. all tax, insurance, servicing, breakdown cover etc included. am paying £133 a month at mo for an old x reg vw plus insurance, tax and servicing on top. have worked out tax implications and am still going to be better off. so roll on that. talk about 'fur coat and no knickers'!!!
Oh well, expenses go in £272 on the 31st. Then AQA £80 on the 6th, pay £1900 on the 15th and extre ebay stuff . and it all begins again!
Going on a cheap shopping trip on saturday at outlet village to get some stock in to sell on ebay. will be raiding the next to nothing shop and any charity shops on route. max spend £50. should double my money if i buy cheaply.
and i did spend £10 yesterday but on ebay packaging from the post office. but £7 of that was from a nasty necklace i took back so not that bad......

bb

Karmacat

Hi Bleachbird

Wow, you sound really organised already - great stuff. Can I make one suggestion tho? Those credit cards you've cut up - you probably also want to cancel them. You sound like you're the organised sort of person who could get a loan out of the way by transferring it onto a 0%credit card - but you can only get one of those if the *available* credit you have is line with their (admittedly weirdo) expectations. Just a thought, hope it helps.

And, also for the future, since this is a fairly long term diary, you might want to make a note on here of the way that you've "trimmed lots of wastage off already", i.e. the details of that - it will help you see how far you've come. The victory dance will be all the sweeter!

Bleachbird

Hi Karmcat,

Thanks. I have balances on all of the credit cards. so when could i cancel them? sorry i don't understand. i did try to get a mint 0% credt card about 9 months ago and they said that as responsible lenders they wouldn't lend. there is 1 card i could close though capital one. closed egg card after a struggle about 2 months ago. i had to demand about 4 times before they did it.
the 'card tart' concept didn't quite work for me as i spent instead of transferred!!
bb

Karmacat

Hi again Bleachbird

Sorry, didn't realise there were still balances on the ones you've cut up. You've done all you can on that particular bit, then. Again, you're a focussed person - keeping going at closing the egg card. If you close that capital one card now, in a few months time your "credit rating" (big discussion on here recently about what a load of rubbish that is) will start to improve. Have you considered phoning the cc lenders up and asking for a reduction in the rate of interest? Some people on here have done that. I'd recomend a search of the forum first, as I'm not sure if sometimes they don't act punitively and *up* the rate of interest in revenge!

Bleachbird

HI Karmacat,

My credit rating is 'good' with a score of 961 out of 1000 according to Experian. I have never missed any payments. I have read the info re: credit scoring and realise that it is probably a marketing tool to gat £5.99 out of me each time!! Don't really need to bother with the score probably.
Am a bit reluctant to telephone the lenders asking for a reduction. I don't want them to assume that I am having difficulty paying it off as I'm not. I just thought that i should start getting the level of debt down and then try for a 0% card and transfer over and close the other account.
bb