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Debt going down, happiness going up
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blah1234
Posts: 35 Forumite
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%
Current level : £3934
Total paid = 74%
1
Comments
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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 £10,0000 -
We are overpaying one loan at the moment as it has the highest interest rate. Others are just on minimums for the moment.Homegrown0 said: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?Debt at start Jan 2020 : £15000
Current level : £3934
Total paid = 74%0 -
More overpayments means current level is now £8992.Debt at start Jan 2020 : £15000
Current level : £3934
Total paid = 74%0 -
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 - £2050 -
Wow! Well done @blah12340
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Sounds like the best way to me!We are overpaying one loan at the moment as it has the highest interest rate. Others are just on minimums for the moment.Now a gainfully employed bassist again - WooHoo!0 -
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 £0.0
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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!
Bizzy0 -
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.Bizzywizard said: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!
BizzyDebt at start Jan 2020 : £15000
Current level : £3934
Total paid = 74%0 -
With the overpayments we are hoping for around february of next year.ceremony said:Wow you're making great progress! How long until the high-interest loan is cleared?
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%0
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