Time to get clean!

D1rtyD38t

So for some background info see my debt free wanna be post. The start of a long shower to get clean! 

https://forums.moneysavingexpert.com/discussion/6364222/ashamed/p1

As of today 15/06/2022:

Tesco CC £11,816.42

Virgin Money CC (0% ends August)
£7,852.22

PayPal Credit £1,444.13

Next Credit Account £81.48

Studio Credit Account £37.41

I also have 2 PayPal pay in 3 totalling £40.60 that I am clearing this month.

At the moment it’s minimum payments only on everything. But I am planning on paying off Studio next month. 

Wish me luck!

Andyjflet

How quickly can you get the Next account paid off too, do you have things around the home you can sell? What subscriptions can you cancel?

D1rtyD38t

Hi @Andyjflet

I have looked at my subscriptions and got rid of any I can. I’ve even contacted my mobile phone provider to see what cheaper options I have but they don’t have anything cheaper for me right now. 

Once my studio is clear next month then I will tackle my next account. 

I currently have some items on eBay, have sent some gold off to sell too. After that I have nothing left to sell. Unless I can sell anything through my sewing- that’s hard because people want something for nothing!

I am also completing paid surveys on Swagbucks, Inbox pounds and life points. I’ve also been completing tasks on Cash Back but finding this har as you often have to pay out to complete! 

Andyjflet

Have you looked at Matched Betting? you can earn a lot initially from all the sign up offers, have a look at Profit Accumulator and their initial videos. I enjoy the experience and the spreadsheets etc, small wins can build up, I did £750 in my first 4 months then stopped. c

abaka

I would be focusing on doing what I can to hopefully get a 0% offer on that virgin card. But it may be difficult with such a high balance.

Are you paying interest on the Tesco card??

if you can focus on clearing the Next and Studio accounts those payments can go elsewhere but if there’s interest on those remaining balances and you’re only paying minimum there’s a chance you will fall into persistent debt and they might want you to start paying more!

have you done a SOA or consulted with any of the debt charities?

D1rtyD38t

abaka said:

I would be focusing on doing what I can to hopefully get a 0% offer on that virgin card. But it may be difficult with such a high balance.

Are you paying interest on the Tesco card??

if you can focus on clearing the Next and Studio accounts those payments can go elsewhere but if there’s interest on those remaining balances and you’re only paying minimum there’s a chance you will fall into persistent debt and they might want you to start paying more!

have you done a SOA or consulted with any of the debt charities?

Yeah I’m paying £150+ interest on the Tesco card at the moment. The virgin is 0% until August then I’m expecting that to shoot up too. The interest I’m paying on studio and next is minimal. Studio should be clear by the end of July then I’m going to get Next cleared hopefully by the end of August. 

I consulted with step change and they suggested the DMP but I’m trying to stay away from that if I can as the joint loan, car finance and mortgage will get included. They all come out of the joint account I have with my husband and the set amount I contribute covers them no problem. The joint loan comes to an end in February. So that will be one notch off my credit file. I’m going to try my best to avoid the DMP or any kind of thing like that as much as possible. For now I have a clear plan and I’m quite focused on it. 

I did an SOA and it wasn’t pretty reading. Again it included my joint responsibilities which I’m really trying to keep out of the mess I have made in my name as long as I can. 

If I can get on top of this as much as I can I might then have the courage to tell my husband. 

D1rtyD38t

Well I feel quite deflated. Sent some gold off to sell but didn’t read the small print apparently it’s a minimum of 10g they accept. I didn’t see that and sent off what I had. I wasn’t expecting to make thousands or anything. As a gesture of goodwill they have offered me £50 or I pay £15 admin fee and to have it returned to me. I feel quite foolish now. 

I’m also now left thinking should I have paid the admin fee and have it returned to me. I’m no expert in these things though and I’m part thinking now would the stones have been worth anything or would they just be coloured glass set in 9ct gold? 

I just saw £ infront of my eyes and extra money to pay off my debt. 

Suppose it’s £50 I can use to reduce my debt.

Lesson learnt. Learning a lot at the moment!