Originally Posted by Thrush
Originally Posted by pau1rs
there always a way out....
i was in over £25k debt a year ago....
but i realised that cars are not the be all and end all,, and cars were the reason for my debts...
so sold the cars i had at the time... s1 amd zetec s....
i may now drive a t reg ka but i`ve got a light at the end of the tunnel..
through workin a good deal of OT and looking after my money i`ve managed to cut my debt to £15k in about 8 months,,
also now got the littlen on the way sorting this out was mega important...
now after putting this in 1 loan i will be debt free in 4 years,,,
a big relief now.. and so much to look forward to now!!!!
First off, fair play - thats a considerable acheivement there pal
But I am confused - if you paid off over £10k in 8 months, why go for an option where it will take your 4yrs to pay off the remaining £15k?
If you carried on how you were doing, you would clear the remaining £15k in 12-ish months? Call it 2yrs if you like.
Surely thats better than 4yrs?
most of it was due to selling the cars... about 7k
BUT i had to cut my monthly payments so that we can look at renting a property in the next few months before the babys due
this way ( been working it out today) i`m paying about £415 a month instead of the £ 700 odd i`ve been paying out a month..
i`d ive love to carry on the way i have, but i wanted to make sure i can afford to rent aswell as pay of my debts...
i so wish i`d done this years ago, as i`d be able to look at a mortgage and be in so much a better permission.. but needs must now and this is the best way for me, the g/f and the bump...