£23,690 to clear

edited 2 March 2021 at 8:51AM in Debt free diaries
45 replies 4.2K views
sudonum-mumsudonum-mum Forumite
37 Posts
Part of the Furniture 10 Posts Name Dropper Combo Breaker
Forumite
edited 2 March 2021 at 8:51AM in Debt free diaries
Welcome to my new diary, I've been around years but starting afresh.
This username was an account I set up to post for support so my husband wouldn't know, I had permission in 2008 to have 2 accounts on here. I just re-read my posts from 2008 + 2009 and all the bad times came flooding back and make me feel sick.
I am finally free of my husband, I finally managed to end things and we are divorced - it wasn't smooth sailing but then life never is but if you want something badly you will keep fighting for it.

After we seperated I went a bit spendy with the finances and ran up some debt, most of the previous debt was from living with my ex and not having enough to cover bills except the bare essentials plus he had a spending problem so money was tight and it fell to me to sort things out and I relied on credit to get the family through.
But enough is enough and I am ready to get rid of the debt once and for all, I have been in debt for 22 years and that has to stop. 
I haven't used a credit card for over a year and I don't intend to unless in a dire emergency.

My debts are as follows:
Debt 1: £6911.11
Debt 2: £3027.15
Debt 3: £1850.00
Debt 4: £1076.74
Debt 5: £1823.88
Debt 6: £1515.96
Debt 7: £1850.00
Debt 8: £1094.74
Debt 9: £3940.94
Debt 10: £600.00
Total: £23690.55

All debts have no interest being charged except Debt 7 & 8. 
Debts 1 - 6 are five defaulted credit cards and a benefit overpayment from years ago, most have been sold to debt agencies and I pay £1pm to them all.
Debt 7 is a credit card which charges interest, I think its 32% but will check.
Debt 8 is my overdraft with my current bank.
Debts 9 + 10 are to family and I pay when I can.

I'll do another post about my current situation and also post a financial statement as soon as I can. 

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Replies

  • CL21CL21 Forumite
    210 Posts
    Sixth Anniversary 100 Posts Name Dropper
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    Good luck @sudonum-mum - glad you have got out of a toxic relationship. The only way is up!! Look forward to seeing your journey to debt freedom! 
    Credit Card 1 - £6249.99 £6159
    Credit Card 2 - £13,481.47 £13,314

    Total debt - £19,731.46 £19,473

    Emergency fund £530/£1000
  • MrFrugalFeverMrFrugalFever Forumite
    770 Posts
    500 Posts First Anniversary Photogenic Name Dropper
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    Hi,

    sorry to hear of your circumstance but it seems like you are poised to grab it with both hands and get shot. 
    If creditors allow, I personally would pay debt back to family and friends first as an overriding priority unless they are fully aware of your situation and have agreed for you to pay what you can when you can.

    i hope things go well....there’s always a light at the end of the tunnel no matter how dark times get.
    Save £12k in 2023 challenge

    Jan = £715 / £1,000 (13/1) Feb = £ Mar = £
    Apr = £ May = £ Jun = £
    Jul = £ Aug = £ Sept = £
    Oct = £ Nov = £ Dec = £

    Saved Total = £0 / £12,000
  • sudonum-mumsudonum-mum Forumite
    37 Posts
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Forumite
    Sounds like it’s been a long journey to get to where you are now. ( I say that with sympathy as I’m still waiting to get consent order sorted 4 years after separation). Re finances, are you able to sell eggs at the garden gate, if not for profit, then to help with the cost of feed? Hatching eggs by post as an income idea?
    Thanks for commenting Honeysucklelou2, I follow your diary with my other account. You are my hero with all you put up with from your ex.
    I do sell eggs at the gate, I can't actually keep up with demand. Obviously at the moment the chickens are not laying well but as soon as its warms up I will sell at the gate again and of course it is nearly time for the geese to start laying again and their eggs sell for a lot more.
    The money usually sits in a pot and when change is required we raid it although in October & November I did transfer money from my account to my LISA every time I sold eggs and then kept the change hidden in a drawer to use for Xmas presents so I might go back to doing that to try and boost my LISA.
    I have sold hatching eggs in the distant past but currently have no cockerels.
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