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Can we avoid a DMP?
Comments
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This is fantastic to hear! You’ll be done in no time, and then the funds you’re putting to paying off the debt / interest will be able to go to something else!
great that you’re working through it together as well - added motivation0 -
Well done so far.ChillyP said:Hi, Just thought I would update everyone on how we are getting on. After a shaky start we have managed to clear 6K since May. It's been a challenge but it's now becoming a way of life. I have picked up some additional work and we are massively overhauled our spending habits - one cheap takeaway a week and no costa coffees etc!
Trying to clear another 6k before December
Hopefully, you've cleared Aqua and are knocking 7 bells out of the Barclaycard 3 debt, as those were the ones with the highest APRs? Have you closed Aqua?
Might also be worth reading up on the 0% transfer deals in the latest newsletter and doing a soft check?
If you've have not made a mistake, you've made nothing1 -
Well done on making such a great start. Keep going and good you have started to see where you were wasting money before.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Save £12k in 2026 Challenge £12000/£2000
365 day 1p Challenge 2026 £667.95/£165
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php0 -
Brilliant news well done. Great progress keep it up !Jan 18 Joint debts 35,213
Mortgage Jan 18- 77224 Jan 26- just under 64k
June 25 Debts in my name were £5170. Now 5178 (Jan 26)
DH debts ?? at a guess £15k0 -
That's great progress - well done!
As you have now been living with your budget for a while and making some steady progress on paying things down, I'd suggest that now might be a good time to take a look at something like the (free) MSE Credit Club to see if there is any chance of shifting some of the debt across to 0%. You've got nothing to lose by applying if there is a possibility, and if you get turned down this time then just make a diary note to try again in three months when you will have improved your position a little more.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
Hi and happy new year. We’ve enjoyed a debt free Christmas for the first time that I can remember! I’ll make an effort to post more in the new year7
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Happy New Year - that's great to hear, well done!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0
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