Pay off £20,000 (ish) by Xmas 2008

candyblue

I too have also made my first payment since this has started of £330, £6 more than my minimum payment! Oh well its a start

howskint?

Have just snowballed my debts and worked out that I need to pay 1047 a month to be debt free by Xmas 2008. EEK!!!

OH and I have had a good month for overtime this month and DS starts school after Xmas so that should reduce the nursery fees by half, so should be able to make a good start when we get paid just before Xmas. Getting frustrated cos I just want to get started now!

Mad_with_money

Well I'm off too, made a grand initial payment of.......£10.52!! So just £19,989.48 to go then!!!

jpwhittle - we are in pretty much the same place making the same repayments etc. Great to know there are so many others doing the seemingly impossible!

Gemmzie

I need about £550 a month extra to hit £10k but to be honest, I'd be happy with £6k which would pay the DMP for a year and clear the debts with interest.

madmich666

If its ok I would like to join you in the challenge. I know I cant pay off £20k but I will set myself a smaller target of £10k. Was thinking last week I want to get my debts under £20k by the end of next year and have worked out that I can clear at least 5 of my smaller debts by next xmas.

RoxieW

hi madmich!

looking at your sig, i hope you get the ppi back! we claimed back from lloyds a couple of years ago (before it became well known) as they'd sold employment insurance to my graduate boyf who didn't have a job d'uh! fist they tried to just give him half back but we perservered and got there in the end! good luck with the challenge!

penguin83

Im off too!

Payment of 200.00 off my loan went today. Interest of about £100.00 gets added in about 2 weeks but for now its 200 quid! x

cherry_red_2

What a challenge!!! Definitely count me in! I have about 20,000 to get rid of - would love to be debt free next xmas!

Will sort out my signature ASAP!

Pollydaydream

Hi everyone.

I thought I wouldn't be able to make a start for a while, but I'd forgotten that my rent and council tax payments include some arrears I've counted in my total - so I've made a start - £120.:)

Actually, that's the last of my rent arrears paid, so I'll have an extra £100 per month from January.

It's too scary to think how much extra I need to bring in each month. I'm just going to keep plugging away for now and hope for a big competition win or something!

Have a good day everyone.

Pollly

hypno06

The beginning of the month loan payment has come out, and I have earnt some extra money which I have paid straight off the outstanding debt, so I am pleased to amend my signature to show I have paid off over £600 :j

Keep up the good work, everyone! We will get there :T