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What a mess...

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  • allthe7s
    allthe7s Posts: 187 Forumite
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    Wow that was a quick one to read! Brilliant reductions you agreed to!

    Very inspiring
    Preparing to go bankrupt April 2020
  • stvn1
    stvn1 Posts: 141 Forumite
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    allthe7s wrote: »
    Wow that was a quick one to read! Brilliant reductions you agreed to!

    Very inspiring

    Thank you very much. I'm not quite there yet, I still have a bit to go. The encouragement from people here has been great.
    LBM 26/10/17
    Total debt at LBM - £15421.47
    NOW DEBT FREE AS OF 30/07/19
  • stvn1
    stvn1 Posts: 141 Forumite
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    It's almost the end of May. My debt currently stands at £3556.54. I feel like I've hit a bit of a wall in terms of reducing my debt but I know that I've reduced it significantly and that it's at a level now where I just need to stay focused and make the payments.
    LBM 26/10/17
    Total debt at LBM - £15421.47
    NOW DEBT FREE AS OF 30/07/19
  • wishingthemortgaheaway
    wishingthemortgaheaway Posts: 2,536 Forumite
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    stvn1 wrote: »
    It's almost the end of May. My debt currently stands at £3556.54. I feel like I've hit a bit of a wall in terms of reducing my debt but I know that I've reduced it significantly and that it's at a level now where I just need to stay focused and make the payments.

    You had so many wins early on with companies agreeing to payment plans and some compensation. Now though is the real test of that lightbulb and your debt free future. Maybe you need little targets to count the small wins, % decrease, or next hundred/thousand's barrier, another debt paid etc.
    You will get there, if you focus during the lulls.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • Jox
    Jox Posts: 1,651 Forumite
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    Maybe make a payment of £56.54 so you have a nice round number left!
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,732 Ambassador
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    Yep I would tidy up some of those numbers too.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • RhiBi
    RhiBi Posts: 703 Forumite
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    Getting into the next hundreds bracket always gives me a boost and it's a personal monthly target of mine!
    Virtual Sealed Pot No.07
  • stvn1
    stvn1 Posts: 141 Forumite
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    Thanks all for the encouragement and tips.

    I've decided that targets motivate me despite saying earlier that I wasn't going to set any more. I think I might start setting targets for the next 100, etc.

    I'm actually down below £3500 now as I made a payment to Shoosmiths today of £157.00. I'll update my running total as that motivates me. I'm really keen to get Shoosmiths cleared as there is only £117.00 left. I would pay it but need to be aware of budget for the rest of the month. I think my target for June will be to raise the funds to clear this before the end of the month without breaking into my budget.

    SLL £ 960.00 : £ 0.00
    ACI £1386.60 : £ 0.00
    Moorcroft £ 690.47 : £ 0.00
    Rob Way £2191.00 : £ 0.00

    Lowell £ 829.31 : £ 310.00
    Lowell £1348.19 : £ 772.72
    CRS £ 773.12 : £ 541.15
    Shoosmiths £ 719.48 : £ 117.00
    Barclays £1039.00 : £796.23
    Cabot £1327.32 : £ 903.31
    LBM 26/10/17
    Total debt at LBM - £15421.47
    NOW DEBT FREE AS OF 30/07/19
  • stvn1
    stvn1 Posts: 141 Forumite
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    Also, I think £2164.49 will be a big deal for me as that will be exactly £10000 less owed than at my LBM on October 17.
    LBM 26/10/17
    Total debt at LBM - £15421.47
    NOW DEBT FREE AS OF 30/07/19
  • stvn1
    stvn1 Posts: 141 Forumite
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    Another one bites the dust.

    I've just cleared the Shoosmiths debt with a payment of £99.15.

    Current debt now stands at £3313.41.

    Next debt to focus on is the £305 I owe to Lowell.
    LBM 26/10/17
    Total debt at LBM - £15421.47
    NOW DEBT FREE AS OF 30/07/19
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