get out of debt

I haven’t managed to increase my repayments due to the fact that I’m about to start maternity leave. However, I now know what is left and have worked out that at the current repayments, I will have cleared it all by January 2009, which sounds like ages away, but is only 2 1/2 years. My H has offered to pay it all off now for me but I refused (probably regret that at a later date!) This was my foolishness, my debt from before I met him and it’s not fair that he should pay it off for me. I’m determined to do this.

I increased my repayments over the weekend, to £200 per month. I plan to see how this goes. If we manage to save the rest of our house deposit quickly enough, I’ll increase it again before Christmas.

I got into debt after graduating, whilst I was working in London. I wasn’t earning enough for even the most basic of lifestyles in London so ended up using my overdraft and getting a graduate loan. I then moved to Newcastle and got a second loan for a car. By September 2001, I was making payments but not managing to do much else. I reached an agreement with the two lenders and am now paying off what I can afford every month. They have been kind enough to waive the interest. I’ve now paid back about half the money and now the wedding is over and done with, I plan to increase the repayments again and get it cleared.