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Just thought if I started a thread, I could update as and when, and make sure we keep ourselves on track in getting shot of our debts, and post up results.
Compared to many, we don't really have a lot of outstanding debt, but still seem to have been worse off than ever, the last 3 or 4 months. I really think we are a bit old to keep having to borrow from the parents in order to get through every month!
We are both in full time work, and as many of you know, I do a second job in a bookies as well, and I'm peed off with working 50+ hours a week and having sod all to show for it.
Our debts are
Mortgage 95k. £608 per month. All up to date.
Car Finance. £145.99 per month. All up to date. (more on this later)
Council Tax £200, paying £40 per month Up to date, 5 instalments left.
Moorcroft £257, paying £40 per month Missed this month, trying to sort out (Moorcroft being gits but nothing major lol)
Barclayard £1200, min payment/month No arrears
No outstanding charges/PPI - got all those back ages ago
We also owe OH's parents about £500, and my sister £250. But that's it.
Plan is to sell the car, and settle the finance. Thus freeing up that money, which we will then use partly to live on and partly to repay family.
When Moorcroft and the Council Tax arrears are finished, I intend to up our mortgage payments by £50 per month, to get it paid off quicker. As it stands atm I'l be 68 by the time it's finished!
And will increase the payments on the Barclaycard and get that paid off, as that is a higher interest rate.
The money borrowed from OH's parents hasn't really got "come back" on it, but we are going to pay it all back. At the moment he is just sort of starting a business, buying cars, doing up, selling on,so we borrow a bit to buy, then pay them back out of the profits, then borrow it back again to buy the next car. As this gets better there will be more profit and less paying back. Plan is, once it's in profit and we don't need to borrow from them, then all th profits to be saved, and every time we've got a spare £500 or so, pay it as a lump sum onto the mortgage.
However, we are going on holiday in June. Flights are paid for, but still need to find the money for the apartment, and spending money. So until July, the master plan probably won't have much effect.
Thanks for reading.
Compared to many, we don't really have a lot of outstanding debt, but still seem to have been worse off than ever, the last 3 or 4 months. I really think we are a bit old to keep having to borrow from the parents in order to get through every month!
We are both in full time work, and as many of you know, I do a second job in a bookies as well, and I'm peed off with working 50+ hours a week and having sod all to show for it.
Our debts are
Mortgage 95k. £608 per month. All up to date.
Car Finance. £145.99 per month. All up to date. (more on this later)
Council Tax £200, paying £40 per month Up to date, 5 instalments left.
Moorcroft £257, paying £40 per month Missed this month, trying to sort out (Moorcroft being gits but nothing major lol)
Barclayard £1200, min payment/month No arrears
No outstanding charges/PPI - got all those back ages ago
We also owe OH's parents about £500, and my sister £250. But that's it.
Plan is to sell the car, and settle the finance. Thus freeing up that money, which we will then use partly to live on and partly to repay family.
When Moorcroft and the Council Tax arrears are finished, I intend to up our mortgage payments by £50 per month, to get it paid off quicker. As it stands atm I'l be 68 by the time it's finished!
And will increase the payments on the Barclaycard and get that paid off, as that is a higher interest rate.
The money borrowed from OH's parents hasn't really got "come back" on it, but we are going to pay it all back. At the moment he is just sort of starting a business, buying cars, doing up, selling on,so we borrow a bit to buy, then pay them back out of the profits, then borrow it back again to buy the next car. As this gets better there will be more profit and less paying back. Plan is, once it's in profit and we don't need to borrow from them, then all th profits to be saved, and every time we've got a spare £500 or so, pay it as a lump sum onto the mortgage.
However, we are going on holiday in June. Flights are paid for, but still need to find the money for the apartment, and spending money. So until July, the master plan probably won't have much effect.
Thanks for reading.
I have actually done one, I'll send it to you when I get chance. 
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