Tag Archives: loans

Debt update

Hi all

I thought it was good timing to bring you an update on my current debt situation.  We have spoken often about what has  happened but I have never produced my results.  For anyone else in severe debt who has been following this debt, my hope is that it will serve as an inspiration.

What you need to remember is that however much pressure you are under, from fear and creditors, it is important to still pay what you can.  I have managed to do this all year, even if it meant a week of eating beans on toast!  Anyway, I digress, here below is the progress report.

Debt/Loan         Start of 2014                  End of 2014

Car loan            £3800                             £1700

Personal Loan  £1000                             £150

Personal Loan  £1200                             £740

Tax Debt           £39,400                         £3850  (this is non company tax debt, as in not what was written off)

H/owner Loan   £1800                            £0

Total cleared this year: £39,780

I think you will agree that is a superb effort, and it has left me with hardly anything but I am confident that 2015 will see me debt free.  Obviously I had to give up and go insolvent for the company debt, which is a separate £24,000 but I cannot take credit for clearing that.

Added on the debt is £1700, which is the amount left to pay for the insolvency.  This is not a debt currently, more of a bill to pay within the next 2 months.

When I read my own figures, it pleases me.  It is a hell of a struggle, getting out of debt.  It involves tears, stress, discipline, admin, shame etc.   The point is, I will get there.   I hope you all will too.

Advertisements

Odd but apt horoscope

Need to make something very clear right off the bat, I rarely read horoscopes as I think they are too generic.  However, I happened to log into yahoo and this was on the home page.  I am a Gemini, but how specific and apt is this????

Horoscopes Yahoo Celebrity

·         Gemini

21/5-21/6

It will be difficult to get a loan or additional line of credit. You’ll have to do the best you can with existing funds. Saving money will take time, so be patient. Fortunately, there are some exciting career opportunities ahead. By pursuing a high profile position, you’ll be able to earn the money for a hefty deposit. Working in a glamorous industry will bring out the best in you. You’ll enjoy all the creative challenges such a job affords.

Thought it was amazing that it mentioned loans, credit and savings and a good job.  Like I said, I don’t follow horoscopes but this was worth sharing.  Of course it is only apt to me, to most other people it would mean nothing.  Shows you how you read into things.

For me, getting a loan or credit is not just difficult but impossible!  My credit history is shot to pieces but that is a blessing in disguise as I don’t want any loans.  I am doing well to clear my debt, managed to pay off another £600 this month.  Soon I will be back to zero and start again.  I say soon, about 2 years I think.

That will be a good day, the day I am ‘debt free’!