anyone trying to clear more than £30k debt

Ben75

I have £40k + to clear and won't be able to finish it until April '22. A couple of creditors have told me they are willing to accept 10% discounts as F&F offers but otherwise I just have to accept I am in for the long haul. Curiously one of my debts doesn't have a CCA so I am currently pondering ...

PaceThePixie

Afternoon,

My OH has similar amount of debt too. He has been carrying it around with him for 15 years!! :eek:

One thing you'll realise is you're not alone.

I too have had similar debts in the past

Keep smiling, we're all here to help.

1974nicola

That's why I stopped payments. cCA's seem to be scarce. I'm waiting on proof.... (And during the wait I'm saving up the payments I was making so I can offer f+f) it's a plan....

scotdebs

It's a relief to see I'm not alone and that some of you have done so well in getting rid or reducing it. - my wee diary is here - feel free to drop by to support or provide kicks up the bum as needed :hello:

I'll be sure to check those of you have have diaries for inspiration and to keep me on the straight and narrow

https://forums.moneysavingexpert.com/discussion/5397082

scotdebs

carol1963 wrote: »

Morning, I've got £40K'ish. Like you I feel it's a slog but I'll get there some day. I haven't got a diary but love to read all the other lovely ones that people do scribe too.


I would also love, love, love an emergency fund (but never seem to get one), have managed to squirrel £100 this month but the Van is due it's MOT tomorrow and I know for a fact that it is going to cost more than that so back to square one.

I know exactly where you are coming from - I know the hardcore MSE'ers say that all spare cash should go to debt but a lot of our debt was incurred for things we hadn't saved for MoT, road tax, Xmas ,birthdays etc - so I now do have a wee pot which means I never put anything on the ccs these days

Sadmonkey

Yup, see my sig. £53k now, was £62k at highest, so slowly getting there.

Sadmonkey

scotdebs wrote: »

I know exactly where you are coming from - I know the hardcore MSE'ers say that all spare cash should go to debt but a lot of our debt was incurred for things we hadn't saved for MoT, road tax, Xmas ,birthdays etc - so I now do have a wee pot which means I never put anything on the ccs these days

This has been our problem, never having the cash for anything that came up. Years of crappy cars costing us a bomb every MOT time, not putting money by for new white goods, insurance etc. Part of my new budget includes putting some money into an emergency fund, so hopefully we'll learn and not have to put everything onto plastic.

Historybuff

Hi there. Mine was more than 56k at the start, but now I'm down to just over 34k. Reduced payments to tiny amounts for nearly two years and now trying to get rid of the debt pile with p and f offers. I'm keeping a diary to make sure I stay on the straight and narrow until all the debt is gone. Then I'm hoping to make mincemeat of the mortgage.
I just wish I'd had my light bulb moment twenty years ago!

somuchindebt

Hello, I have 54.5k, not sure how I will get rid of it. But so inspiring seeing other people going through it and doing well! I wish I could save some big lump sum for full and final settlements, will try...

kindofagilr

scotdebs wrote: »

hello all just started my dairy on trying to clear my £43k of cc debt - anyone else with a similar large amount to tackle as it does feel a bit overwhelming. I know what seems like a large or small debt is totally dependent on individual circumstances but if any of you have a mountain of similar size and also have a diary going with would be great to follow your progress.....

Yup, we have just shy of £47k to clear, I have a diary (link is in my signature) I'm feeling very positive about it all because we have managed to get most of it onto 0% whereas last year they were all on high interest cards, it did feel overwhelming in the beginning but now it's on 0% and I'm good at budgeting now, I'm positive about it, I'm not doing a dmp xx