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£23,690 to clear
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@Tiredbutdetermined A LISA can only be used for a house purchase or for retirement, if you take it out for anything else you have to pay your bonuses back so unless its a dire emergency I would leave it in there.1
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Welcome back and Happy New Year.
Good luck with the debt busting, it’s so hard to get out of the spending cycle. I’ve been hanging around this forum for a long time now and still no nearer to being debt free!!Success is not final, failure is not fatal: it is the courage to continue that counts. Car loan 1 £11,174, Car loan 2 £5,532, CC 0% BT £780. Debt Free Diary to try & keep spending in check.1 -
Happy New Year sudonum-mum!🥳
It's good to see you back posting - here's hoping 2022 will be the year you bust those debts!Finally Debt Free! - July 2016 🌟
Finished Emergency Fund- £10,000 April 2017
🌟
RETIRED: MAY 2021!!!!😀🎆
My diary: “Seasidegal's Scrimpy Retirement Diary!”2 -
Absolutely, in fact, you'll actually lose your bonus plus more!!sudonum-mum said:@Tiredbutdetermined A LISA can only be used for a house purchase or for retirement, if you take it out for anything else you have to pay your bonuses back so unless its a dire emergency I would leave it in there.
Example - £4,000 + 25% = £1,000 bonus taking you to £5,000.
£5,000 less 25% penalty charge = £1,250 penalty = £3,750 withdrawn....
Sorry to hear your debt has increased rather than gone down, do you have a clear action plan as to how you intend to move forward? I mean it's 2022 now so I can feel a New Years resolution brewing
If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing1 -
@MrFrugalFever My plan of action until 28th February is to just get through without getting in to more debt or borrowing from family.
I have a rather large commitment for the next 2 months (£500+) which I definitely cannot get out of. This is just about affordable if I tighten my belt so that is what I will need to do.
Once 1st March 2022 is here it will be all steam ahead for my debts.3
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