A Pretty Good Day!

Hello - I've never done a dairy before so this might be an interesting experiment  ;)

I'm 52, married with two DS, one still at home, the other moved in with his girlfriend about 15 months ago but we see them regularly.

My husband and I both work full time, my business of 18 years failed during the pandemic leaving me with large debts, but I am happily employed in a great company and I'm enjoying the security of a regular income. My DS at home is working part time as he's found it hard to find a job during the pandemic, he was the school year that never got to sit their A levels and he was just suddenly out of school and out of work.

I have embarked on my debt free journey by cancelling my DD's, and writing my holding letters. I will send them to coincide with the missed payments. I would like to be debt free at the same time the defaults fall off my credit report, so about 6 and a half years from now. I know this will be hard work but I want to enjoy my retirement and hopefully there will be some grandchildren along the way  <3

I'm not sure what else to post but will aim to keep this little diary updated along my journey, you never know who you are helping by telling your story!
CC’s - £40,252/£39,684

EF - £2285/£1600

Planned DFD - July 2028 🤞

Comments

  • doingitanyway
    doingitanyway Posts: 8,611
    First Anniversary Name Dropper First Post Mortgage-free Glee!
    Forumite
    Welcome. Good luck with your goals  :)
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.

    Solicitor/survey savings 300/1700
    Emergency fund 0/1000
    Buffer fund 0/200
  • Welcome I look forward to reading your diary and will be cheering you on.
  • Good luck, I am starting on a similar journey and my kids are of a similar age- i will be following and looking forward to comparing notes :)
  • Good luck, I am starting on a similar journey and my kids are of a similar age- i will be following and looking forward to comparing notes :)
    Good luck @flyingscotsman67! Nothing to report yet but I haven’t technically missed a payment yet, first missed one will be Thursday so I’ll wait and see what happens then 😱
    CC’s - £40,252/£39,684

    EF - £2285/£1600

    Planned DFD - July 2028 🤞
  • FootyFanDan
    FootyFanDan Posts: 1,341
    First Anniversary First Post Name Dropper
    Forumite
    Welcome and good luck with  your journey to debt freedom
  • So today I failed to make 2 payments. I contacted both lenders and my accounts are now on hold for 30 days. Nothing scary or horrible to report, all very matter of fact and no guilt tripping. It’s the first teeny tiny step on a long road but just taking control is a huge relief 🥲 
    CC’s - £40,252/£39,684

    EF - £2285/£1600

    Planned DFD - July 2028 🤞
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