Pay ALL your debt off by Xmas 2020

muppets

Betharooni said:

#015 settled car finance in full so £11,978.16/11,978.16 paid!! 

Congrats 🎉

muppets

lynneee said:

Number 7 checking in to say I've done it!! I've cleared 100% 😊
The only debt I have now is my mortgage so am planning on getting that paid off sooner rather than later. 
Thank you to everyone on here for ideas and motivation! 
Good luck everyone, keep going, it can be done 👍

Wahoo Congrats 🎉

muppets

CreditCardJunkie said:

058 - I have paid off my £1600 🎉
However we have joint debts of £2334 which is my new target by December payday! 
Well done to everyone so far!

Well done on paying off your debt  🎉 I'm sure you will clear the joint debt by December

muppets

truebluemummy said:

Hi everyone 

I have been following for a while but not done anything about it. So I have 3cc and they total to £9235. I dont expect them to be written off by Christmas but I hope to have paid some money off them. It was £11728 this morning but we got our refund back from tui today so knocked 1 cc down to £835 which I do hope to be paid off by the end of the summer if sooner 🤔.  I need to check in with my mortgage as that is currently on a standard rate now. Does anyone consolidate your debt to one payment is it worth it?  Any help support or advice would be greatly appreciated please. Stay safe everyone xxx

I made the mistake of consolidating my debts into one. Not including my mortgage. What I didn't do was cut up all my credit cards and close them. I then racked up more debt on those cards so then had them plus the CONsolidation loan to pay off.

They only way I would ever consolidate the debts would be in they are on a lower rate / same rate as the lowest now. And then cut them up, close them and swear to never take them out again, otherwise there really isn't much point. Consolidating makes you feel like you have done something when you have just moved them.  xx

muppets

TrushTush said:

Just moved money around from a few different accounts, cleared the Xmas savings and CLEARED THE LAST DEBT!!! (£2500 of the Sains CC) 

This challenge- seriously - on Jan 1st we had just under £10k of debt.
As of 5 minutes ago we are DEBT FREE!!

Love you guys!

Wahoo Congrats 🎉

muppets

Tabitha_ said:

095

January 2020 I had £7600 of debt (all credit cards!)
I battled with this debt for years and it just kept mounting up. Last year I had spent £900 on interest alone... wow that hurt.
I am now debt-free!

Cut up all my cards! Now working on saving for a deposit on a house. Will never use a credit card again.

I wish everyone the best in doing the same. Stopped seeing it as a chore or something really difficult...  instead, I just put myself out of the 'need to spend' mindset and needing stuff constantly... placing so much enjoyment and value on things like overpriced coffee... I feel so silly that I was that way for so long. I know that a daily lunch at pret won't feel as good as being debt-free. Lockdown really helped me to evaluate how I live and quit my mindless spending when socialising or out and about.

Wahoo Congrats 🎉

muppets

Bizzywizard said:

My Muppets welcome back. 030 here.
I’ve just checked the front page and my debt says £19k ish (It was in May last year). However, it was initially £7406.44  in (January page 6) then increased to £10,033.44 as I added in my DH 0% virgin cc. Sorry to be a pain.
My current debt is £5576.29/£10,033.44

Glad you are back!

Thanks you 😘 and thanks for holding the fort while I was AWOL it didn't go unnoticed 👀

muppets

Page 1 has been updated 🙌

If there are any errors just posted what it should be and i'll catch them with the next update 😜

Blackberrycurved

THANKS Muppets glad you are back

BudgetBertie

#54
Thanks muppets, I can't believe how much we've paid off, well done everyone!!
I've changed my totals to Paid/Target to be paid .. I think I've got it right...! Also managed to make some savings to pay another bit off of CC1 as I am determined to cleared it by 31/7/2020
Paid £162 to CC1 = £4204.04/£4600
CC2 =£508.84/£4000