Beating My Debt

LP121

Hello All - Short and sweet, creating a diary to keep track of debts following some very helpful advise in the Debt Free Wannabe section.

Current Debt:
PayPal Credit - £5780
Family - £4986
Lendable - £1445
Finio - £1312
118118 - £1285
Tech Finance - £700
Salary Finance - £564
Drafty - £545
Total - £16,617. Lord help me.

Advise received is to stick to a budget, start with the highest %APR and work my way through. Tough road ahead, but this needs cracking, finally.

LP121

I sent a complaint email to Drafty so maybe in 8 weeks time I'll be entitled to some money back. This is the one I'll be tackling first as it's a silly high %APR. Finio have put my account on hold for 1 month, and Lendable have reduced my payment for 3 months. This gives me enough time to get rid of Drafty completely. I'll probably post bi-weekly updates to see the amount of debt slowly go down. 

Banksy_2

Good luck @LP121 - have you got on to the bank switching bus?

LP121

Banksy_2 said:

Good luck @LP121 - have you got on to the bank switching bus?

@Banksy_2 I think as my credit score is so bad, I won't get accepted to switch to any unfortunately

Banksy_2

Fair enough - good luck with bringing them totals down however you manage to do it. You'll get there!

LP121

Well, I have been paid and now my debt is as follows:

Current Debt:
PayPal Credit - £5650
Family - £4396
Lendable - £1445
Finio - £1312
118118 - £1199
Tech Finance - £600
Salary Finance - £470
Drafty - £500
Total - £15,572

Looks like I should be knocking off about one thousand per month. Priority is still going to be, finish Drafty ASAP. I should be able to close this one out when I get paid end of September. Sticking to my budget this month, I should be absolutely fine. Next month may be a different story, but one step at a time.