Never Again. Rose's Escape.

doingitanyway

Well done! A great MSE day.

mrosie

doingitanyway said:

Well done! A great MSE day.

thank you!
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Budget all sorted and everything now in place. Full situation:

Halifax overdraft was £500
Paid off and removed with a money transfer so I can keep my Halifax current account in DMP

Halifax CC was £5.1k

Paid off and removed with a money transfer so I can keep my Halifax current account in DMP

DMP Debt

M&S Loan: £10822.50

Tesco CC: £7344.87

Santander CC: £5054.68

M&S CC: £2649.70

Capital One CC: £978.16
TOTAL: £26849.91

Mortgage: £154,088.67
Emergency Fund: £400.37 (energy rebate and this months payment)

Credit rating (about to nosedive):

Experian: 999/999

Equifax: 1000/1000

Monthly budget for family of four (me and 3 schoolchildren):

Income: £2380.62

Expenses: £2273.56

Leftover: £107.06 (for emergency fund)

Budget includes every single annual expense I can think of. Mortgage is now on mortgage charter support for 6 months and I have an SMI govt loan in process to help towards the interest so I can build up a larger savings pot for the DMP period.

I'd love to be debt-free and have my whole credit record cleared by the last day of 2031 - 6 years and 9 months away.

Feels good to have a 100% clear picture of where I am.

birdsfoottrefoil

Not to read and dash, it sounds like you have a plan and good luck!!