PP but cleared one debt!

[MrsGlam]

Pointless post but wanted to put it somewhere..
I am trying slowly to clear my and Hs debts and today I paid off one of my debts and it feels so good! It was only a small debt I was paying £5 a month too but I got it down to £13 which I could make the final payment on today!
It feels amazing to have cleared one that I can put an extra £5 on to another debt to help clear it sooner!

Good for you OP!

Well done! I've been paying off a credit card - only £36 to go! Then will start on the other one!

Not 'pointless' at all.

Well done.

Gin well done it's amazing when you call up and they close the account!
Good luck with this one and the next.
Thanks everyone else

Fabulous, well done you! Living for the day I can say something similar

Congratulations, it's a great feeling to be able to tick one of the list and then watch the another go down faster as a result.

You'll get there, Mum4.

Keep going Mum4 I never thought I would make a dent in any of mine but got a credit card down from over 700 to just under 300! It's coming down slowly but it's coming down :)!
You will get there!

Well done.
Are you using the standing order trick as well as snowballing - the results really start to kick in once the first debt is gone.

That's brilliant! Yay! Still remember the date my default got removed from my credit file- wonderful feeling!

What is the standing order trick?
I am just doing direct debits?

Hi MrsGlam
The spreadsheets are here
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc
But the basic principle is ....

however much you paid this month eg £22.45 .... pay that every month, rather than letting the card company reduce your amount each month

just those little amounts will RAPIDLY start cutting into the capital
and the repayment time drops
from
16 years
to
2 years

Well done OP , not at all pointless posting about it.

congrats 😁

Oh that's fab will have a good look at it when I get on the PC later hopefully!