Pay off £20,000 (ish) by Xmas 2008

andan

Thanks pandapaws, usually i'm quite a timid person and would probably have just let it go, seeing as i won it and didn't really loose anything, but thanks to this challenge it made me more determined to do it.

That's my key area of faffing, i will start something, such as the bingo and matched betting, then don't have time to do and know i have money sitting in loads of different accounts, its just getting round to doing something about taking the money out or playing it through. However am finally getting round to it and requested £300 i've had sitting in one account for the past six months, this will go straight into the savings account for when the credit card bills are due.

Brindle_2

Hi

just wanted to say good luck to everyone. I did look at this post earlier in the year and thought can I do it.

At the start of january I had £815.40 left on last credit card which i have now cleared. i have now only 1 loan which was £18,869.17 at the start of January which is now at £18,201.63. If I repayed at the minimum amounts I would be debt free in 17 years!!!

I am working 70 hours a week in 2 jobs to do this and only spending £2-£5 per week on food! I can eat at my 2nd job so don't have to spend too much. Its very hard for me but I have a target at minimum of Jun next year to be debt free. Which for me personally is massive as I had £28k at the start of last year. I belive that I could do it by feb so not technically £20k by xmas but I will be close. if I do £15k i will still be proud of myself.

I would love to do this by Jan 2009 but realistically its not possible. I have no spare cash and work enough as it is.

I am more of a taker than a giver on this site and I apologise for that but i just wanted to say that there are so many good people on this site that do soooo much for people in need and I would like to thank them for enabling me to be in this position to do this.

I don't know why i'm waffaling but just good luck to everyone and keep up the good work.

I am glad to see everone dealing with there debts!!!

GOOD LUCK and LONG MAY IT CONITNUE.

alimac23

Thanks for the virtual hug unixgirl!

Car didn't need any work so it was £149 total. Put it on my visa but paid £70 to it immediately and hubby is going to transfrer me the rest so its effectively not on credit. Although I won't be able to make any more overpayments this month, at least the debt hasn't increased like I thought xxx

andan

Brindle, well done on paying so much off, please post again, its words of encouragement that keep us all going, as much as it is advice from others. I know when I'm having an off day and can't be bothered with all this dfw, feeling it will never amount to anything, i come on here and read messages from other people and it makes me feel valued and inspired. Good luck with your challenge.

taxi73

WOW once again everyone is doing fantastic!!!!...and...every little helps...I too know I won't hit £20k by christmas now as I'm having all my windows and doors replaced...so thats about £4k out of the equation but as long as I pay the CC off in full by christmas plus all payments on my 3 loans plus £100 per week away for my tax and my holiday money put away each week £65 and my widows and everything done then that will be a massive achievement as I have just remortgaged and brought my term down from 18 years to 10 years costing me an extra £150 p/m...
So at the end of the day a lot of the background stuff counts as well as what comes off the debt..so I will hear of nobody being disheartened....it's just a challenge to ourselves where we can all get help and support when needed..
Brindle please join in you have already got a nice amount to add to your sig as paid off ..well done!!!

hypno06

Taxi, I refuse to accept your statement that you will not pay off £20k. I for one believe that you will....even with windows and doors.

As for everyone else - you WILL achieve big things this year debt wise. Regardless of whether you pay off £1000, £10000 or £20000+, if you are REDUCING the amount of debt you are in, then you are a success!!

Keep going xxx

Amberamber80

Hi everyone! I was recommended to this "challenge" and VERY new to all this! The other half wants to pay off all our debt in a year (I didn't think it realistically possible) it's just under 18K but that includes our Loan which has another 2 years on it so I am not too worried about that. We just want to clear our CC's and overdrafts! I am actively cutting back and trying to get him on board, he's getting there. January was SO difficult and this month will be too but once we get this week over us I plan to put any "extra" monies towards our CC's.

I need support guys as other half things Im daft on this but understands I cope with things differently than him (so is supportive) and well since I am the one kinda in control of where all our wages go I have to get in control!!! *shakes head* God I feel like screaming and crying all at once!

Amber

penguin83

Hi everyone - time for an update from me!

Debt as of 01/01/08 - 43,782.64

Debt as of today - 42,378.81

Paid off so far - 1403.83

Not doing too bad just under 10% of the 15k paid off so far. I have just had a vets bill in for my horse which was just under 200.00 and I am reducing my hours at work so my income will drop slightly but I think I am still on target.

Glad to see everyone else is doing really well.

Hugs for those that need them and big hellos to any newbies x x

hypno06

Amber, I am glad you found your way over here! Read through the thread and get lots of ideas.

Scream and cry all you need.......but also have a laugh. You can beat this debt down nicely over the next few months

taxi73

Welcome to all the newbies ..this is a great challenge and as Hypno says as long as debt is down we are a success...and..it's been the hardest month of the year..we all have different things crop up at different times of the year and different incomes so all pay at different rates ..we are well om our way to becoming debt free and thats what counts.
Rant, cry or rejoice we are all here however you feel...take care xx