For the first time in a few months here in all its glory is an updated overview of my debt. I mentioned recently that I would now include my partners debt in the total which will throw out any previous updates. However it will make things a lot easier in the future so it will be worth it.
The total debt is £50,538.93. Yes that is how much is needed to solve this debt problem once and for all. The target to repay this massive debt I hear you ask? Well just over 6 years. Ouch. However if it is at all possible everything will be thrown at it so hopefully maybe we can get the repayments down to around 5 years. 4 if I am dreaming.
Debt Target Number 1
Seeing as though I haven’t managed to completely clear any of my debts this year I am aiming to settle one of them. It is only a small one at around £160 and it is the debt owed to a company called Wageday Advance.
Projected Repayment for the end of September
The planned repayment for September is £643.06 towards the debt. Which makes a small dent in a massive balance but every little helps. Savings wise the plan is to try and maybe get an extra £50 from driving more efficiently and shopping more wisely but we will see about that. The extra £50 will go towards the Wage Day Advance Debt.
The Ads on this site which help pay for the running costs may also help out a little with the way things have gone so far this month. I will need to remember to store some of the extra earnings away though ready for the tax man.
Debts Changing Hands
Some of my debts have move around a bit which is why I wrote a post about What to do when your debt is transferred. The debt to Orange has gone back to Orange from Westminsters Solicitors so I will no doubt be finding out who has bought it. I am guessing Lowell Portfolio. In fact I hope it is them as they are pretty easy to deal with.
My Natwest Debt left Wescot Credit Services and has gone to Triton Credit Services who I think are Natwest’s in house collectors. They were actually pretty decent to deal with on the phone and agreed to my repayment plan once I gave them an overview of my income and expenditure.
My Partners MBNA debt has moved from Wescot Credit Services but as yet we don’t know who has the debt. Arrow Global purchased this account late last year so no doubt someone else will be collecting it soon. We have sent an e-mail to Arrow Global to find out what’s going on.
My partners Debt with O2 has moved away from Buchanan Clark and Wells. As yet we have no idea who has it. I am guessing again that Lowell Portfolio will be buying the debt and collecting it. We will see.
And finally, my Barclays Bank debt has been recalled to their in house collections team from Buchanan Clark and wells. A plan is in place to repay the debt so things should be fine.
That’s an update on the goings on for this month. As I promised recently I will provide another update next month on where we are with the debt. Let me know about your debts and how you are doing.