It's all fun and games until ...........

You are faced with the possibility of losing your job:( Having lost count of the LBMs and diaries started its probably best to start with a quick recap using my guide of How to Get Yourself in Debt

Step 1 - deny deny deny
The main bulk of our debt was racked up years ago when we were earning ok but not fabulous money - but boy did we live the fabulous life style- dinners out, great holidays, gadgets - basically we denied ourselves nothing- never worried about the debt we had - life was good tomorrow would never come

Step 2 - realisation, panic face the problem
We moved house massively increasing our mortgage then it suddenly became a bit trickier to meet all the cc repayments so I did the sensible thing ..... Had a baby and went on mat leave for 12 months ( half of which was paid, let's not mention the other half). Then realised we couldn't meet card payments and pay normal bills and basically we were in the poo. This time I did face up to it - cut down on loads of house hold bills, food shopping,started living on a tight budget etc and started being able to make overpayment to some of the debts

Step 3 - sod this it's too hard
We now had both had decent pay rises which meant that we could services all the debt ok and still live well - and well I could alwaysmake an overpayment next month anyway ........

Follow the above easy steps and you too could find yourself in debt to the tune of £43k :eek::eek:

So now faced with a very real prospect of not being in my current job this time next year and the thought of any package I do get going ALL on paying off debt breaks my heart ..... It's time to put on the big girl pants and face this properly paying off as much debt as I can within the next yr which means any package can be a proper buffer till I get another job or go towards something useful - if I'm very lucky and stay in my job then double bonus

My next post will be a shameful listing of all current debts,........
CC debt Aug 2018 £50.2K
CC debt Nov 2018 £48.6K
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Comments

  • scotdebs
    scotdebs Posts: 566 Forumite
    Deep breath here goes............. this makes for a very sorry read


    Card Balance % rate
    Capital 1 87 31%
    RBS Gold 256 6%
    turnkey card 256 14%
    Barclaycard (his) 282 28%
    Next 563 24%
    Very 720 0% all on buy now pay in 12 month and I am paying off the right
    M&S reserve 950 18%
    fraser card 959 30%
    M&S Charge card 1095 24%
    RBS him 1400 22%
    his BOS IF 2 200 0%
    my Bcard IN free 3629 0%
    mine BOS Master 5326 0% mostly 0% except $1k
    MBNA mine IF 6202 0%
    his MBNA 6911 0% and 14% part interest free and part interest
    Black Card 12193 14%




    Seeing it all in black and white like that is very disturbing - I may need wine
    CC debt Aug 2018 £50.2K
    CC debt Nov 2018 £48.6K
  • Kitten868
    Kitten868 Posts: 1,785
    First Anniversary First Post
    Forumite
    Hello,

    I'm here after my first LBM and I'm past the quick successes and into the long slog but still going :)
    You've got lots of easy wins on there! Enough to keep you going certainly! You're back and that's important. Here's to the first bit and some easy wins! X
    Loan 1 £5200/£8000
    Loan 2 £300/£5800
    Total £5500/£13800
  • scotdebs
    scotdebs Posts: 566 Forumite
    Thanks kitten - the quick successes should hopefully be taken care of by no council tax payments for the next 2 months and a works bonus next month AND...... Was browsing the topcashback website and spotted a 40 month interest free offer with Halifax (&£20 cash back) both OH and I were accepted and so have managed to shift £6600 onto 40 month interest free woo hoo with £49 cash back in the pipeline - don't have the energy to update the list of shame just now will do after payday when I clear some of the easy successes and hopefully the balance transfers are taking place - just need to keep taking positive steps in the right direction- look forward to seeing your debt signature come down too :T
    CC debt Aug 2018 £50.2K
    CC debt Nov 2018 £48.6K
  • Kitten868
    Kitten868 Posts: 1,785
    First Anniversary First Post
    Forumite
    Keep posting the list of yucky debts. It'll make it feel better :) pay day tomorrow so yes can't wait to update lol x
    Loan 1 £5200/£8000
    Loan 2 £300/£5800
    Total £5500/£13800
  • chevalier
    chevalier Posts: 7,937
    First Anniversary Combo Breaker
    Forumite
    Well done on those easy wins. Don't forget to check your utilities and insurances to make sure you are getting those the cheapest too
    I want a job that is less than an hour driving away from my house! Are you listening universe?
  • scotdebs
    scotdebs Posts: 566 Forumite
    Not so patiently awaiting pay day next week when capital one, next, fraser card and his barclaycard should be history which will feel so good to clear out 4 debts in one go - got to love the months you don't have to pay council tax ..........
    CC debt Aug 2018 £50.2K
    CC debt Nov 2018 £48.6K
  • Good luck! I still have another week until payday too and this month is tight. You sound determined :D
    Stick with the diary - it'll keep you on the straight and narrow. And join in with challenges.
  • scotdebs
    scotdebs Posts: 566 Forumite
    Happy Friday diary! Just had a txt message from barclaycard to say they have increased my limit which means I was able to take advantage of their 2yr 0% balance transfer off - a nice productive feeling whilst waiting for pay day:T

    One piece of advice I would give to anyone that is struggling is to make paying your credit card payments on time a real priority. A couple of years ago we we were really in the poo (see stage 2 of How to Get Yourself into debt) we had been late with a lot of payments not massively a few days or a week but as a result we could not get 0% balance deal for love nor money- now more that half of our debt is sitting on 0%

    Anyway nearly wine o'clock time:beer:
    CC debt Aug 2018 £50.2K
    CC debt Nov 2018 £48.6K
  • scotdebs
    scotdebs Posts: 566 Forumite
    And it's pay day - hurrah time to update the list of shame for some items paid off and all the reshuffling to take advantage of 0% offers

    Rbs gold 256 6%
    Turnkey 256 14%
    Next 363 24%
    Very 720 0%
    Ms reserve £950 18%
    Fraser card 959 30%
    MS card 1095 24%
    Barclaycard 5029 0%
    bOS 5326 0%
    Mbna me 6202 0%
    Mbna him 4011 0%
    Halifax 6600 0%
    Black card 8493 14 %

    Debt at start £43k debt now £42.5k 1.3% paid off

    OHs pay day in couple of weeks time which will mean good riddance to the next account and the fraser card:T

    Now need to resist the usual "been paid" temptation to have a bit of a blow out...... And keep my fingers crossed that my company announces we are getting bonus this year
    CC debt Aug 2018 £50.2K
    CC debt Nov 2018 £48.6K
  • Yay! Long may it continue for you - that's brilliant that you've gotten down by 1.3% already :j
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