How much have you lowered your debt in the last year?

Little_Pickle

Hi guys...

I have been trying to pay off my debts for approx 1 year now.

When I started and before I found the site, I was around £6,000.00 in debt.
I have now got this down to £1,885.00.
That means that I have cut my debt by about 2 thirds in 1 year.

Hopefully, now I am more focused and have learned so many lessons and tips from all the great people here, I will be debt free by April next year – although I am hoping it will be a lot sooner than that if I push hard for the next couple of months.

So, in the last year, how much have you managed to knock off your debt and what was the biggest thing you did in order to do this?

LP
xox

November 2006 - £6,000.00 (approx)
November 2007 - £1,885.00
Paid off in one year: £4,155.00

dearbarbie

Well done. I've not been sorting mine out for long, none of it is urgent. I have a £1500k post-Uni overdraft, that I will be able to fully pay-off in January. I cannot wait to permanently see my account in credit, I haven't done that since 2000.

Broken_hearted

Mines gone up so not doing too well

betti911

I've reduced my debt by £5519. It now stands at aprox £12,328. It ironically took applying for a mortgage to change my bad attitude towards money. I realised that I could not live the life I wanted to cause my debts kept dragging me down. I've still got a long way to go but at least I've made a start this year.

(Land_of)_Maz

I was £10,400 (Holy shooot!!!) this time last year... made up of.....
Cap one £1200
Egg £3300
HBOS unauth OD £1200
Welcome Car Finance £3500
New Look £150
Dorothy P's £550
Next £500

Now it is £3450
Cap One £300
Next £350
Dotty P's £400
Welcome Finance £2400

Paid off £6950! Whey hey!!!

some of it was pure good luck, HBOS called me up and said the balance of my OD was made up of charges and that i had actually paid more in than the original amount so they wrote it off.... Nice one and completely out of the blue!

Others were pure hard work and concerted efforts to pay a sizeable chunk each month, £250 to Egg, for example.

Some stinking ones left through, altho i hate Welcome Finance, i just consider it a bill as opposed to a real debt... but it's on here none the less. Wouldn't want to lose sight of my goal....

Hope to be debt free by summertime!

immoral_angeluk

Debt as of 14th October 2006 when we joined - £11,100
Debt now - £5883.14 earning interest and £1430.48 @ 0%

Total debt now - £7314.12 so we've reduced our debt by approx 45% in a year.

(Land_of)_Maz

Well done IA!!! Looks great on screen eh?!

Check you with your interest rates n everything! Swot!!


(PS, you finished with that Shaun Slater yet?!The boy must be exhausted?! Is it my turn yet?!?)

Broken_hearted

WOW well done makes me feel guilty for failing so badly. Last year I paid nearly £5,000 off this year £100 on. Still it could have been worse.

Little_Pickle

wow! wow! wow!

you guys really rock! I know it's been blinkin' hard.. but look how far we've all come!

*does a little dance*

immoral_angeluk

Maz3374 wrote: »

Well done IA!!! Looks great on screen eh?!

Check you with your interest rates n everything! Swot!!


(PS, you finished with that Shaun Slater yet?!The boy must be exhausted?! Is it my turn yet?!?)

:rotfl: :rotfl: it's just having it split into interest and 0% makes it look better and makes up for the fact that we'd have about £1400 less if we hadn't spent on the cards lol.

edit.. oh and no I'm not quite done yet.,, :rotfl:

(Land_of)_Maz

Of course you will notice that Next and Dotty P's haven't gone down much in a year!!!

What's a girl to do?! You've got to have shoes.... and jeans.. and hand bags....