Personal creditors

Published on January 8th, 2011 | by Pete

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Who are the creditors?

Again, in the spirit of disclosure, and because we’ve all been getting on so well, I thought I would break down exactly what my individual debts are, and who I owe the money to.  So, in the last instalment of my story, I told you that I owe a total of £25,823.76. This is who that debt is owed to, and what my monthly payments are:

Barclaycard (Credit Card) £5,457.41 Variable monthly repayment of around £125
Father (Loan) £2,048.00 Monthly repayment of £110
Nationwide (Loan) £7,176.95 Monthly repayment of £136.98
Nationwide (Overdraft) £2,000 No monthly repayment
Student Loans Company (Student Loan) £9,141.40 Monthly payment taken from my employer

So, there we have it; the whole sorry mess. As you can see, I lose around £372 a month before I pay the mortgage and other bills, so cash flow is a bit of a problem.  Still, I remain upbeat and positive about making 2011 the year to put some serious money saving steps in place, and also to stick to my weekly and monthly budgets! I shall keep you posted monthly on my debt, as well as steps I am taking to save money, and boost my cashflow. Please feel free to share your thoughts…

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