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“Rock bottom became the solid foundation on which I rebuilt my life.”
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OH WF what an utterly wonderful bit of news! SO pleased for you - and how glad are you now that you didn't go down the loan route to get those arrears gone?! :T:T:T:T:T
Definitely the right thing to write "Rent Arrears - £0" too as that's the way it is! You are SO close to being totally DF now - it's just fantastic!
How soon will you be able ton get the name changed on the tenancy now?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Thank you EH. So glad I posted and was talked out of it
Rather than trying to find a loan then confessing here I owed X amount for a loan with ridiculous interest.
I am going down to the offices tomorrow to sign some things and I will find out how long it takes. It won't take long. It also means I should have a secure tenancy too! It was supposed to switch to a secure tenancy after 12 months but we had arrears by the point and have never been out of the arrears since 2012
x“Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”0 -
Fantastic news Wannabe. Hope you're feeling a lot calmer now xLBM in April 17 - Starting card debt £33554
Mortgage@1 June 18 - £76350
Total debt @june 18 £102311
Debt Jan 25 £8282
Mortgage £51215. Total debt now £594970 -
"have never been out of the arrears since 2012"
I hope you're giving yourself th worlds biggest pat on the back now WF! That is really one heck of an achievement.
Knowing you I imagine you're now dying to start OP'ing on the agreement for the court fees now - but I'm going to make a small suggestion, if I may? Pitching it at the lowest you could is a great idea as it gives you so much flexibility. Even paying off that £5 per week, by the end of the month the balance there will begin with a 4, so you're going to feel that there is progress there quite fast.
My suggestion is that you now save any surplus from your budget into a savings account going forwards - this will firstly give you an emergency fund - something you've not had the luxury of for so long, but secondly, you can then pay off a chunk from the court fee debt at a time, at the end of a month. So assuming perhaps that you have £50 in the EF by the end of this month, perhaps pay £25 of that as an overpayment, but don't be tempted to pay any more. For the next month whatever is left i the account treat it as a "virtual zero" - so if you end March, for example, with £110 in there, first subtract the starting balance of £25, then pay no more than 50% of the remainder as an OP. That way month on month your savings - and your financial stability and security - increase, and the debt continues to go down. Sense of achievement gained all round!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
I am thank you CT. x
Thank you EH, I felt bad asking for the lowest it could possibly be but at £5 a week the worry isn't there about paying it I mean I know I need to pay it but it's not going to be a constant worry.
EF - Something I need to sort out. I need to work out a budget with the remaining £75 and stick to it
Including budgeting for an EF. Don't know where to start on that though
x“Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”0 -
Wow wannabe this is fantastic news
Now you will have a bit more leeway with the pennies can you please please please start up a fund to buy yourself a bed as a rested mummy is a super happy mummy xxNEXT TARGET: Halifax credit card DEC 22 £0 / £4499.12POAMAYC 2011 £6378.35 POAMAYC 2012 £5000.78POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90 POAMAYC 2017 £7278.80 POAMAYC 2018 £13208.18POAMAYC 2019 £13309.28 POAMAYC 2020 £15026.050 -
I am beyond thrilled for you - and the smalls of course. Literally grinning my head off here.
And books/stuff will hopefully be on their way to you next week - project was delayed so couldn't access things until it was underway.
And yes to emergency fund and yes to bed fund
Anyway, if I could do cartwheels I would xxLD 12.25 £1600.00/£0700.00 Fn £274.00 LTFn £525 LLTFn £300
Renewal 25 £500.00/£500.00 InsH 12.25 £600/£600.00 InsP 03.26 £150/£150.00
NPt 12.25 £150.00/£051.50 Ins/TC 02.26 £550/£470.00
YX25 £1500/£0750 FD £3600/£0600
PX25 £1500/£0625 P6m £1200/£0800 PEa £100/£0600 -
Initially WF don't fret about "budgeting for" an EF - just set aside the surplus from the budget each week - that will start to build nicely. It's by far the easiest way to save - have a budget and then use any surplus to transfer to savings. On a budget as tight as yours (squeaky!) trying to set aside a particular amount at the start of each budgeting period isn't really practical.
Definitely don't feel bad about asking for the lowest amount - it's about time that budget of yours got a bit of extra slack! Not doable while you have priority debts, but you don't, any more! :T🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
A Credit Union account or an another account purely for building up savings / EF?
If you are with Nationwide you can set up a wee savings account online and manage it there BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.0 -
WannabeFree wrote: »Rent arrears Paid!
:jWannabeFree wrote: »For the first time ever I feel in control. I can see happiness in us all building from now. I know it will take a couple of weeks to be sorted fully. But today is the start of a new beginning. A total fresh start.
I'm so happy I can't even begin to tell you how much.
Fantastic news that the rent arrears are now clear, that is one brilliant birthday present :j:beer::T
You sound very happy and so positive too, which is lovely to see :A0
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