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  • FIRST POST
    • booksandbacon
    • By booksandbacon 11th Jul 18, 8:19 PM
    • 30Posts
    • 89Thanks
    booksandbacon
    Debt Be Gone
    • #1
    • 11th Jul 18, 8:19 PM
    Debt Be Gone 11th Jul 18 at 8:19 PM
    Here it is. No more excuses, no more hiding. I'm getting rid of this debt.

    36,294

    THREE SIX TWO NINE FOUR.

    I could travel for years on that.

    And that's what really gets me, I always put it off because "oh I couldn't afford it yet". Well apparently I could but I'd rather spend the money on utter nonsense. 36,294 later and nothing to show for it. This is less of a light bulb moment, and more of an all the lightbulbs smashing at once like in a horror movie, leaving me standing amongst all the broken glass facing some sort of Debt Hydra.

    I'm...FUUUUMING.

    Credit cards, personal loans, overdraft and payday loans - yes, payday loans plural. And it's all just gone on stuff and things that I don't even care about it. It's gotten beyond our control, nothing getting paid off properly the money just moves around in a spiral gradually getting bigger and bigger. Sometimes there's a good month, sometimes a bad month, most of the time a barely-scraping-by-but-not-really month. I don't want to live like that, it's utter sh...erm, rubbish.

    Well get ready for some debt vanquishing!

    Balance: 36,294
    Creditors: 14
    Debt Fighters: 2
    Savings: 0

    DMPLand, here we come...

    Edit: Starting debt is actually 36,323.37
    Last edited by booksandbacon; 21-07-2018 at 5:33 PM.
Page 1
    • doingitanyway
    • By doingitanyway 11th Jul 18, 8:21 PM
    • 3,304 Posts
    • 17,777 Thanks
    doingitanyway
    • #2
    • 11th Jul 18, 8:21 PM
    • #2
    • 11th Jul 18, 8:21 PM
    You've faced up to it. Well done and good luck.
    Emergency fund 500/1000
    If not now then when?
    • Starmummy
    • By Starmummy 11th Jul 18, 8:42 PM
    • 221 Posts
    • 1,014 Thanks
    Starmummy
    • #3
    • 11th Jul 18, 8:42 PM
    • #3
    • 11th Jul 18, 8:42 PM
    Good luck and happy new diary
    Total debt at LBM c.19k
    debt consolidated 16/8/18 12,618.12/12,618.12 Total savings 450
  • archived user
    • #4
    • 11th Jul 18, 10:07 PM
    • #4
    • 11th Jul 18, 10:07 PM
    Go get it done! Good luck on your journey xxx
    • newatc
    • By newatc 11th Jul 18, 10:12 PM
    • 289 Posts
    • 335 Thanks
    newatc
    • #5
    • 11th Jul 18, 10:12 PM
    • #5
    • 11th Jul 18, 10:12 PM
    Probably going to be a long journey but well done in starting it and all the best in getting there.
    • UncannyScot
    • By UncannyScot 11th Jul 18, 10:23 PM
    • 1,653 Posts
    • 8,993 Thanks
    UncannyScot
    • #6
    • 11th Jul 18, 10:23 PM
    • #6
    • 11th Jul 18, 10:23 PM
    Hello and welcome

    If you need any advice or info just post up and one of your friendly neighbourhood DFW's (Debt Free Wannabes) will be along to help.
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • jwil
    • By jwil 12th Jul 18, 12:19 PM
    • 9,001 Posts
    • 28,385 Thanks
    jwil
    • #7
    • 12th Jul 18, 12:19 PM
    • #7
    • 12th Jul 18, 12:19 PM
    Good luck
    "If you can dream it, you can do it". Walt Disney
    • motivated
    • By motivated 12th Jul 18, 8:55 PM
    • 2,281 Posts
    • 4,639 Thanks
    motivated
    • #8
    • 12th Jul 18, 8:55 PM
    • #8
    • 12th Jul 18, 8:55 PM
    Hi booksand bacon

    I've popped over to your diary to cheer you along and wish you luck on your journey. Ask lots of questions and read, read and read some more. It's what has got me to the point I am at now, still a long way from the finish line but certainly heading in the right direction

    You will too

    Good luck
    M
    • scoobysnax40
    • By scoobysnax40 13th Jul 18, 1:47 PM
    • 20 Posts
    • 46 Thanks
    scoobysnax40
    • #9
    • 13th Jul 18, 1:47 PM
    • #9
    • 13th Jul 18, 1:47 PM
    Just discovered your diary.

    Subscribing. Good luck on your diary
    LBM: March 2018, Aiming for a DFD of August 2019

    1 debt vs 100 days chapter 29
    7,050.57 / 7,401.57
    • Robin09
    • By Robin09 13th Jul 18, 8:04 PM
    • 90 Posts
    • 371 Thanks
    Robin09
    Hi booksandbacon,

    Hope all goes smoothly setting up your DMP. We had a similar level of debt when we started our DMP, going down in the right direction now.

    Good luck on your journey.

    Robin.
    • GlendaSugarbean
    • By GlendaSugarbean 13th Jul 18, 8:35 PM
    • 157 Posts
    • 964 Thanks
    GlendaSugarbean
    Good luck!

    I like your priorities as set out in your username, may I suggest adding cheese to the list?

    • doingitanyway
    • By doingitanyway 13th Jul 18, 10:37 PM
    • 3,304 Posts
    • 17,777 Thanks
    doingitanyway
    Love the username. Good luck with your debt journey.
    Emergency fund 500/1000
    If not now then when?
    • booksandbacon
    • By booksandbacon 14th Jul 18, 2:30 PM
    • 30 Posts
    • 89 Thanks
    booksandbacon
    Dear Diary,

    No going back now - the letters went out to all the creditors last weekend and now we play the waiting game

    I've already heard back from two of the creditors who have both agreed to freeze interest for a period of 30 days while we get the budget and offers sorted. I was amazed that the first creditor to get back to me was a payday lender but then I did contact them online. All this post and stamp business feels very old school and I have some anxiety that the letters won't reach the right place. I'm already thinking of sending some follow-up letters to some of them to make sure they get to the right department quickly.

    OH is fully on board with the plan, but I can sense his hesitation/anxiety sometimes, particularly around initially making token payments and setting up an emergency fund, I am too - I've never done anything like this before, but we can't carry on as we are, we can't cope. He does like the idea of multiple savings funds/pots though and keeps trying to add more in.

    I've been reading diaries on here all week - they're like miniseries on TV but seriously though they are really keeping me going, knowing other people are going through the same thing and are both willing and able to help makes this feel possible.

    Happy weekend everyone!
    Self-Managed DMP using NEDCAB, MSE Forums and True Grit
    Debt Balance: 36,527.98
    Savings: EF 2.94 I Car SF 0 I Gift SF 0 I F&F 0
    • booksandbacon
    • By booksandbacon 14th Jul 18, 2:31 PM
    • 30 Posts
    • 89 Thanks
    booksandbacon
    Good luck!

    I like your priorities as set out in your username, may I suggest adding cheese to the list?

    Originally posted by GlendaSugarbean
    Dammit, if only I could change my MSE username, how could I forget cheese?!
    Self-Managed DMP using NEDCAB, MSE Forums and True Grit
    Debt Balance: 36,527.98
    Savings: EF 2.94 I Car SF 0 I Gift SF 0 I F&F 0
    • booksandbacon
    • By booksandbacon 14th Jul 18, 2:32 PM
    • 30 Posts
    • 89 Thanks
    booksandbacon
    Thank you to all the well-wishers, I can't believe how supportive this community has been in such a short amount of time!
    Self-Managed DMP using NEDCAB, MSE Forums and True Grit
    Debt Balance: 36,527.98
    Savings: EF 2.94 I Car SF 0 I Gift SF 0 I F&F 0
    • Scott Chegg
    • By Scott Chegg 14th Jul 18, 2:59 PM
    • 31 Posts
    • 54 Thanks
    Scott Chegg
    Just discovered your diary and am subscribing. I wish you good luck on your journey to reduce your debt
    • Lydia42
    • By Lydia42 14th Jul 18, 3:49 PM
    • 86 Posts
    • 269 Thanks
    Lydia42
    Welcome on board - good luck xx
    Total Debt August 2018: 19, 271
    • booksandbacon
    • By booksandbacon 15th Jul 18, 8:04 PM
    • 30 Posts
    • 89 Thanks
    booksandbacon
    Trying not to freak out.

    OH and I have just done our first ever budget with help from SC and NEDCAB. I know weve deliberately overestimated parts of it but it still leaves barely anything for the debt.

    According to our plan, our DFD is May 2037

    I know that this is just a start, and that once we get stuck in well be able to properly evaluate what we spend so we can overpay or put aside for F&Fs.

    I feel positive that were doing something about it, but I also feel that its come to this, that this is how irresponsible weve been.
    Self-Managed DMP using NEDCAB, MSE Forums and True Grit
    Debt Balance: 36,527.98
    Savings: EF 2.94 I Car SF 0 I Gift SF 0 I F&F 0
    • SavingAFuture
    • By SavingAFuture 15th Jul 18, 9:01 PM
    • 75 Posts
    • 145 Thanks
    SavingAFuture
    Good luck on your journey!
    Proudly on my debt free journey
    CC1: 0/2120.60 CC2: 1500/3239.99
    • booksandbacon
    • By booksandbacon 16th Jul 18, 6:14 PM
    • 30 Posts
    • 89 Thanks
    booksandbacon
    Dear Diary,

    I!!!8217;ve been feeling sick and anxious all day long.

    I!!!8217;ve been logging into NEDCAB and looking at the budget, the plan, and I feel awful. Really evaluating all those numbers has hit me hard.

    I know it!!!8217;s just a start, I know it is. But I just want this debt GONE. I want to be responsible with money. I never, EVER want to be in debt again. I don!!!8217;t want to owe anything, EVER AGAIN.

    In my original post I talked about travelling, having something to show for all those years of spending. But all I want is to be able to look after myself.

    I hate this debt. I hate it.

    Self-Managed DMP using NEDCAB, MSE Forums and True Grit
    Debt Balance: 36,527.98
    Savings: EF 2.94 I Car SF 0 I Gift SF 0 I F&F 0
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