Tuesday, 19 June 2007

Why I need to be out of DEBT...

Yesterday I was on my way to the Post Office in the local village to make a payment on my overdue Tax bill and my mobile started to ring. Being the the good citizen I am, I didn't answer it as I was driving. But a thought crossed my mind as to who the caller might be..... but hey that would be just my wild imagination. When I got back home I checked my phone and found that who ever called my phone was unknown but the number was a London number. Again the thought crossed my mind as to who had called and again I thought to myself don't be so silly..... it could be anyone. But no it really was a very serous sounding man from the Inland Revenue. (This is all very true and "no" I don't believe in second sight or what ever it is called).
The guy I spoke too must really hate his job - he had the worst phone manner I have heard in a very long time. But then he does work for the revenue. I advised him of my oh so resent payment and that I had had problems with bouncing cheques so had been delayed by a week or two to make said payment but he didn't feel that my payment idea was to his liking and required me to call back the following day (well it was almost 5pm by now) and give all my income and expenditure details so the IRD could decide a payment arrangement.
This I have dutifully done today and I got the same guy on the phone (I think I have his direct phone number) and after going though my SOA he has decided to accept my payment plan. (Big surprise there huh!!).
I did freak him when I said I paid no rent, mortgage, board etc - he was really not sure हाउ to deal with that and also the fact that I claimed no benefits.
Well am pleased that is over and do with - just need to get lots of regular work for the next year and a half.
But this is the reason I need to be out of debt - if I was debt free I could have paid this account off on time and not had to have had the call.

Thursday, 14 June 2007

Just what you don't need to start with....

It is only a day since I started this blog and so far things are not looking great - it is one of those "it isn't me" moments. I have checks bouncing in and out of the bank account for my wages, it is not caused by a shortage of funds in the depositors account just their bank being seriously weird! Next week I have some big direct debits going out of my account and can't afford to have a lack of funds to pay them. I should have extra money in the account but as two weeks worth of wages have been screwed up and another wage payment is due on Monday - I am not feeling so good about it.

Wednesday, 13 June 2007

Start date...

It's June and summer is sometimes almost here!

And after ten years in debt - I have decide to take the bull by the horns and get my finances in order.

Yep, ten years in debt and I have a little pile of cash books to prove it. The problem is the debt have been hovering for years just below the ten thousand pound mark but has jumped recently to just below the twenty thousand pound mark. That was quite a shock I can tell you - and to think that I could get that much credit is madness.

So this is probably the tenth time I have have really tried to get my finances into order but hopefully the time that I do.

Of my debt about £3500.00 is Taxes which I need to get cleared up asap, the taxman is not a nice guy to owe monies too, so I am hoping to make payments of between £700-£1000.00 monthly payments until it is gone. And then use that money to start clearing my two credit cards and then hit my two loans.

I am self employed and so it can be a little iffy with just how much I will be earning each month but am hoping to clear at lest £1500.00 (remember that is before tax). I am working on the principal that once I have cleared my debts I can set monies aside to pay my Taxes as soon as they become due.

My credit cards are gone - yes I have cut them up a few weeks ago telling myself that there was really no reason for them to take up space in my purse if I was not planning to use them again. It is funny how attracted you can get to something that is bad for you - it is called habitual behaviour and I had to end the relationship with my credit cards. They have left me with £6000.00 in debt.

The other culprits are my loan's - yes not one but two, and the second is a Flexiloan. How much fun is that!!!! Together they make the other half of my total debt being £4000.00 and £6000.00 respectfully.

Unlike many I don't have a mortgage and all my debt is unsecured - well I don't have anything you could secure it too. I have been basically homeless for the last seven years and stay with friends when I am not working. When working my job provides me with accommodation and meals, so it is aways pointless to share a flat and anyway I have always be trying to clear me debts.

Sorry if this is getting a bit long in the tooth now and the spelling is probably terrible (sorry dyslexic) but this the background of me - and what I want to be is debt free by October 2008.....................................

watch this space and I will try and keep you up to date with getting into the BLACK............