Debt going down, happiness going up

Hi all, so this is going to try and be my debt free diary. I really should have started at the start of this year but oh well. So at the start of all this, me and my partners debt stood at approximately 15000 pounds with two loans and one parent loan. It now currently stands at £9800. The hope it to have it all paid off in 12 months. Any advice, hints and tips always welcome.
Debt at start Jan 2020 : £15000
Current level : £3934
Total paid = 74%
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Comments

  • Homegrown0
    Homegrown0 Posts: 1,280
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    Welcome to the diary club and great that you've got the debt down so far already. 

    Have you got a plan for clearing it?
    Sealed Pot Challenge 075
    Pay off by Xmas 2019 #02 - target £10,000
  • blah1234
    blah1234 Posts: 35
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    Welcome to the diary club and great that you've got the debt down so far already. 

    Have you got a plan for clearing it?
    We are overpaying one loan at the moment as it has the highest interest rate. Others are just on minimums for the moment.
    Debt at start Jan 2020 : £15000
    Current level : £3934
    Total paid = 74%
  • blah1234
    blah1234 Posts: 35
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    More overpayments means current level is now £8992.
    Debt at start Jan 2020 : £15000
    Current level : £3934
    Total paid = 74%
  • ceremony
    ceremony Posts: 241
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    Wow you're making great progress! How long until the high-interest loan is cleared?
    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
  • Wow! Well done @blah1234
  • RobM99
    RobM99 Posts: 2,492
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    We are overpaying one loan at the moment as it has the highest interest rate. Others are just on minimums for the moment.
    Sounds like the best way to me!
    Now not a gainfully employed bassist.
  • pidge04
    pidge04 Posts: 792
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    Well done to you! Your debt will be cleared in the not too distant future! 
    Store card £140 £117 - Store card £150 - Overdraft £200 - PayPal £364 - Loan 1 £5052 - Loan 2 £1733 - Credit card £2890 - Car hire purchase £3200 - Savings £0.
  • Bizzywizard
    Bizzywizard Posts: 216
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    Have you tried to see if you could get an interest free balance transfer credit card? If not have a look on the credit club tab.
    Best of luck, with your debt busing!
    Bizzy
  • blah1234
    blah1234 Posts: 35
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    Have you tried to see if you could get an interest free balance transfer credit card? If not have a look on the credit club tab.
    Best of luck, with your debt busing!
    Bizzy
    Credit cards atm have nothing on them as we foolishly used consolidation loans to pay them off. So it is just two of those and a family loan that we owe.
    Debt at start Jan 2020 : £15000
    Current level : £3934
    Total paid = 74%
  • blah1234
    blah1234 Posts: 35
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    ceremony said:
    Wow you're making great progress! How long until the high-interest loan is cleared?
    With the overpayments we are hoping for around february of next year. 

    If all holds out we aim for a debt free date of july next year.
    Debt at start Jan 2020 : £15000
    Current level : £3934
    Total paid = 74%
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