Facebook Twitter Instagram
    • Home
    • About
    • Blog
    • Contact
    Trending
    • E-Commerce Mastery: Tiny Tricks That Make A Ton Of Money
    • Secure the Long-Term Success of Your Restaurant Business with these Tips
    • How to Build a Diverse Crypto Portfolio for Long-Term Success
    • Navigating the Car-Pawn Financing Process in Today’s Market
    • Budgeting Hard for Your Road TriP
    • Steps for Creating a Budget
    • Helping Loved Ones with Elder Debt
    • Precious Metals or Crypto: Which is the Smarter Investment?
    Facebook Twitter RSS
    Disease called Debt
    Contact Me
    • About
      • Debt Story
      • Our Debt Progress
      • eBooks
        • 101 Ways to Earn Money From Home
        • Debt eBook
    • Start Here
    • Debt
      • Paying Off Debt
      • Debt Elimination Tips
      • Debt Success Stories
      • Debt Help Articles
      • The Gift of Debt
    • Money
      • Making Money
      • Saving Money
      • Budgeting
      • Investing
      • Life, Money & Relationships
      • Work
      • Frugal Recipes
      • Fun Stuff
    • Blogging
      • Start a Money Making Blog
      • Blogging and Link Ups
      • Blogroll
    • Disclaimer
    • Cookies/Privacy
    • Contact
      • Advertise
      • Hire Me
    Disease called Debt
    Home»Debt total»Debt Free at Last: Our Debt of £41K Has Been Paid Off!
    Debt total

    Debt Free at Last: Our Debt of £41K Has Been Paid Off!

    HayleyBy HayleyOctober 15, 201473 Comments5 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Debt Free at Last!That’s right, we’ve managed to completely clear our debt! We started out with just over £41,000 of credit card and loan debt ($65,000) and it’s now been eliminated.

    I can barely contain my happiness as I write this post, because for such a long time, I thought we would always have to live under the heavy burden of debt.

    We’ve experienced rock bottom twice at the hands of debt. Over the years, we’ve been sad, angry, hopeless, depressed and even ashamed at times about our level of debt. There didn’t seem to be a way out for many years even though we tried so often to pay off debt here and there. We considered bankruptcy before entering into a debt management plan because our debts were totally out of control. Things were incredibly stressful back then.

    Then luckily in January 2013, something changed in us, this blog was born and we were able knuckle down and undertake the necessary steps to get ourselves out of debt for good! It’s been a tough journey, emotionally and financially. We’ve had bad months and good months. But there you have it – after 15 years of being in debt, we are finally debt free!

    So how did we go from £13,073.74 in August to debt free now?

    In August’s debt repayment update, I explained how our last debt was a front loaded loan, where all the interest was added on at the start. The figure of £13,073.74 was the amount with interest included across the full term of the loan. To settle early, we were told that we’d be given an interest rebate which would bring the amount to pay down to £11,305.51.

    Since April, when we had a breakthrough with the other debts that we had, we’ve been saving every penny and taking on extra work to bring in more money including doing new side hustles like eBook launches and making Tour de France memorabilia. We’ve even been scraping around for loose change behind the sofa and in the car. Basically we’ve been doing everything we could to raise enough money to clear our last remaining debt.

    There came a point a couple of weeks ago, where we realised that if we also included the money we had saved in our emergency fund, we’d have enough money to clear our debts. We decided to go ahead with this decision to empty the emergency fund (actually it’s not quite empty, there’s still £200 left in there) and so we used it to be rid of our debts for good.

    We called our creditor, got the final settlement in writing and have been waiting on tenterhooks to get the letter through the post. One thing I’ve learned about dealing with creditors is to get everything in writing, even if it means waiting impatiently for two weeks. Finally, it came through, we phoned the creditor again with joy in our hearts to make this final wretched payment and… guess what happened…?

    The payment declined! After an initial panic, we found out that our bank was being cautious and they’d stopped the payment in case it was being fraudulently taken, with it being such a lot of money. So instead, we made the payment online and watched the money disappear from our account. After a phone call again to check it had been received, we could finally allow ourselves to rest in the knowledge that our debts were gone. Have we celebrated? Strangely, no… not yet!

    However, words can’t describe the relief that we’re feeling, to know that we’ve dealt with our debts. Our relationship and marriage is stronger than ever, we’re better educated about money and we’re looking forward to a bright future, free from debt! (Note – we do have a mortgage on a rental property, but I’ll write more about our plans on that another day).

    What now for Disease Called Debt?

    This blog was created out of despair and frustration, at a time when I personally felt alone and swamped by the pressure of what was happening to us. This blog was my outlet for venting my thoughts. I didn’t expect to find a supportive community of like minded people who have inspired me and in turn have helped me to inspire others. I didn’t know that I would learn about budgeting, emergency funds, frugal living and tons of ways to make extra money. I definitely didn’t expect anything positive to come from being in debt.

    So although this blog has served its purpose – to allow me to document our journey to debt freedom – Disease Called Debt will still go on. I will still write about debt because I want to help others who are facing the same problems as we did. In the coming weeks, I’ll be writing our own debt success story and also about the new goals we’ll be setting for ourselves in order to start building wealth for the first time.

    Thank you

    Thank you to all of you for reading this blog and for motivating me to keep on writing. Without you reading this, I genuinely don’t know if we’d be debt free right now. I don’t know whether the hubby and I would have been able to stay the course without having you, through this blog, keeping us accountable.

    Please keep on reading this blog – it really does mean the world to me. 

    Subscribe by email and receive a free ebook!
    'The Gift of Debt' ebook will be delivered to your inbox within minutes.

    By subscribing, you'll receive new blog updates by email and occasionally I might email you with any exciting news. I promise not to spam you and your details will never be passed on.

    Becoming debt free
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Hayley
    • Website

    Related Posts

    How To Get Rid Of Debt Faster

    July 18, 2024

    7 Costly Checking Account Mistakes You Should Avoid

    January 16, 2020

    August 2014 Debt Repayment Update

    September 3, 2014

    73 Comments

    1. Michelle on October 15, 2014 12:35 pm

      A HUGE congratulations on paying off all your debt!!! This is my favorite type of post to read in the pf blogosphere!!

      Reply
      • Hayley on October 15, 2014 7:57 pm

        Thanks Michelle for your kind words and support! 🙂

        Reply
    2. Mrs. PoP on October 15, 2014 12:45 pm

      well done! Now to rebuild that emergency fund so debt doesn’t happen again. =)
      Mrs. PoP recently posted…When To DIY And When To OutsourceMy Profile

      Reply
      • Hayley on October 15, 2014 7:57 pm

        Definitely! The emergency fund is top of the list, we need to get some money into that well before Christmas! Thanks Mrs PoP!

        Reply
    3. Amanda @ Passionately Simple Life on October 15, 2014 12:54 pm

      Congrats on finally being debt free! That is such a big hurdle and I’m so happy to hear you can start using your money for everything you want!
      Amanda @ Passionately Simple Life recently posted…And Then It Was Fall…My Profile

      Reply
      • Hayley on October 15, 2014 7:56 pm

        Thanks Amanda! We don’t really want to spend any money now even though the debts are gone – that’s a good thing though! 🙂

        Reply
    4. Tonya@Budget and the Beach on October 15, 2014 1:01 pm

      Whoo hoo! Congratulations Hayley! That’s huge!

      Reply
      • Hayley on October 15, 2014 7:54 pm

        Thank you Tonya – and for your encouragement every step of the way! 🙂

        Reply
    5. Kate@GoodnightDebt on October 15, 2014 1:16 pm

      Congratulations Hayley! How silly that the payment was initially declined!

      What a weight off your shoulders! Now to build up your emergency fund!
      Kate@GoodnightDebt recently posted…A lesson in the value of money.My Profile

      Reply
      • Hayley on October 15, 2014 7:53 pm

        Thanks Kate! Yes indeed, the emergency fund is the priority now – I’m kind of on edge about that in case something goes wrong, but I’m sure it won’t take long to build up. I just had to pay those debts off at the first opportunity.

        Reply
    6. Brian @ Debt Discipline on October 15, 2014 1:37 pm

      Congrats!!!! What a great feeling to finally be out from under your debt! Best of luck on the next part of your journey Hayley!
      Brian @ Debt Discipline recently posted…Help a Reader: How do I get back on my feet without declaring Bankruptcy?My Profile

      Reply
      • Hayley on October 15, 2014 7:52 pm

        Thanks so much Brian for your support! 🙂

        Reply
    7. Ms. Mintly @ MintlyBlog on October 15, 2014 3:08 pm

      That’s AMAZING! Congratulations! I have heard that the transition from in debt to debt-free can actually be a little trickier than some people anticipate (being overwhelmed by possibilities for saving/investing, etc., etc.), and it sounds like you guys are stepping back to let it soak in, which I think is a great idea. Congrats again!
      Ms. Mintly @ MintlyBlog recently posted…What Would You Do with $8,000?My Profile

      Reply
      • Hayley on October 15, 2014 7:52 pm

        Thank you Ms. Mintly! We’re just going to concentrate on our emergency fund for now with a view to getting that built back up. Step no. 2 will be retirement planning and step no.3 will be saving for a house. The finer details will follow when we’ve worked them out but frugal living is still high up on our list of priorities!

        Reply
    8. Michelle on October 15, 2014 4:01 pm

      Congrats! You did amazingly well! 🙂
      Michelle recently posted…6 Ways Being Cheap Can Cost You MoneyMy Profile

      Reply
      • Hayley on October 15, 2014 7:50 pm

        Thanks Michelle and for your support all the way through our journey! 🙂

        Reply
    9. Erin @ Journey to Saving on October 15, 2014 4:02 pm

      Congratulations!! I’m so happy for you, Hayley. You’ve worked incredibly hard to make this happen, and I’m glad it’s finally over for you. I’m also glad to hear you’ll be continuing on with the blog!
      Erin @ Journey to Saving recently posted…How I Overcame an Unexpected ExpenseMy Profile

      Reply
      • Hayley on October 15, 2014 7:50 pm

        Thank you Erin, we really do feel like a huge weight has been lifted from our shoulders at last! No more worrying about creditors!

        Reply
    10. Shannon @ Financially Blonde on October 15, 2014 4:22 pm

      Congratulations Hayley!!! I am so happy that your focus and hard work has paid off!!
      Shannon @ Financially Blonde recently posted…Commitment is KeyMy Profile

      Reply
      • Hayley on October 15, 2014 7:48 pm

        Thanks Shannon for your kind words, it means a lot to me!

        Reply
    11. Even Steven on October 15, 2014 6:13 pm

      Congrats! I can hear the excitement in your writing about being debt free. I love that you hustled and kept at it, the ebook and selling memorabilia shows how bad you wanted it out of your life. As a non-medical professional, I would like to declare you are cured of your disease, please do regular checkups to make sure it does not come back;)
      Even Steven recently posted…How a Guy Selling Hot Dogs Retired EarlyMy Profile

      Reply
      • Hayley on October 15, 2014 7:48 pm

        Ha ha! Well that is a relief to think that we’re cured at last from the debt disease! May the cure spread like wildfire for other people too! Thanks Steven. 🙂

        Reply
    12. Ciel Belle on October 15, 2014 6:57 pm

      CONGRATULATIONS!!! Super happy for you guys!
      Ciel Belle recently posted…Week 19 : Long weekendsMy Profile

      Reply
      • Hayley on October 15, 2014 7:47 pm

        Thanks Ciel, really appreciate your support!

        Reply
    13. Aldo @ Million Dollar Ninja on October 15, 2014 7:18 pm

      Congratulations!!! This is so awesome, I’m so happy for you.

      I’m still trying to get out of debt (student loans), but I should pay it all off by the end of April 2015. 6 more months!
      Aldo @ Million Dollar Ninja recently posted…Living On Campus Costs More than Off Campus (Infographic)My Profile

      Reply
      • Hayley on October 15, 2014 7:47 pm

        Thank you Aldo! 6 months isn’t long to wait, you’re doing great and it will fly by!

        Reply
    14. Morgaine on October 15, 2014 7:28 pm

      Wow, Congrats Hayley, this is wonderful news! 😀
      Morgaine recently posted…Pregnancy ShoppingMy Profile

      Reply
      • Hayley on October 15, 2014 7:46 pm

        Thanks so much Morgaine! 🙂

        Reply
    15. Melanie @ Dear Debt on October 15, 2014 8:21 pm

      So excited for you! Glad you were able to clear it out. I’d also raid my EF if I knew I was that close. You are freeeeeeeee! Celebrate! Rejoice! I can’t wait to follow in your footsteps.
      Melanie @ Dear Debt recently posted…How My Blog Changed My Life: Stefanie from the Broke and Beautiful LifeMy Profile

      Reply
      • Hayley on October 16, 2014 11:26 am

        Thanks Melanie for your support! It won’t be long now before I’ll be writing a similar message on your victory post! 🙂

        Reply
    16. Shannon @ The Heavy Purse on October 15, 2014 8:27 pm

      Congratulations, Hayley! I’m sure it feels wonderful to have the debt monkey off your shoulders!! I know it’s been a long journey but you kicked debt to curb and I couldn’t be prouder of you. The world is truly your oyster now and I can’t wait to see what you do next, my friend.
      Shannon @ The Heavy Purse recently posted…Debunking 3 Popular Myths That Keep You in DebtMy Profile

      Reply
      • Hayley on October 16, 2014 11:25 am

        That really means a lot me Shannon. You’ve supported me all the way and your encouragement has really spurred me on to keep going – so thank you Shannon! 🙂

        Reply
    17. Victoria @thefrugaltrial on October 15, 2014 8:45 pm

      No way!! That’s amazing, I am very jealous! I would have done the same as you and empty the emergency fund (if I had one).
      Victoria @thefrugaltrial recently posted…TEN QUICK STEPS TO PAY OFF DEBTMy Profile

      Reply
      • Hayley on October 16, 2014 11:24 am

        Glad to know you’d have done the same Victoria – it got to the point where those debts just had to go and the EF provided me with an opportunity to make it happen! Keep going with your debts – you’ll be debt free before you know it!

        Reply
    18. Nicola on October 15, 2014 9:40 pm

      Congratulations! That’s fantastic news 🙂
      Nicola recently posted…Is A Buy-To-Let A Good Investment?My Profile

      Reply
      • Hayley on October 16, 2014 11:23 am

        Thanks so much Nicola! 🙂

        Reply
    19. Alicia on October 15, 2014 10:47 pm

      Oh my gosh, many congratulations! What a great ending… Build up that emergency fund and you’re golden 🙂
      Alicia recently posted…Happy (Canadian) Thanksgiving!My Profile

      Reply
      • Hayley on October 16, 2014 11:23 am

        Thanks Alicia! Definitely – the EF is top of my list – hopefully before Christmas, it’ll be topped up to a reasonable level.

        Reply
    20. Bex Smith on October 15, 2014 11:05 pm

      I am so, so happy for you! This is so inspiring for those of us who still have debt – no matter how big or small it is – and I am looking forward to reading your success story!

      I am so glad you are going to continue blogging too – one of the best blogs out there!
      Bex Smith recently posted…Saving Money As A ParentMy Profile

      Reply
      • Hayley on October 16, 2014 11:22 am

        Thanks so much Bex for your support and for your kind words about this blog!

        Reply
    21. Brittany on October 16, 2014 1:17 am

      Woooooooo!!! Congratulations 🙂
      Brittany recently posted…Weekend Survival Guide for the Girl on a BudgetMy Profile

      Reply
      • Hayley on October 16, 2014 11:21 am

        Thanks Brittany! 🙂

        Reply
    22. Kalen Bruce on October 16, 2014 1:01 pm

      I knew it was coming soon! Now you’ve gone from being an example of how to stay disciplined to an inspiration of how you finally did it! I’ll keep reading…but you probably knew that already. 🙂
      Kalen Bruce recently posted…What’s Stealing Your Time? Here’s How to Take ControlMy Profile

      Reply
      • Hayley on October 17, 2014 11:57 am

        Thanks Kalen! I was tempted to tell you the other day when we emailed about your recent guest post! 🙂 Thanks as always for your support!

        Reply
    23. Jason on October 16, 2014 3:48 pm

      Long time reader, first time poster and all I can say is a huge CONGRATULATIONS!!! You are an inspiration and just inspired me to put an extra payment on my debt! WOO HOO!

      Reply
      • Hayley on October 17, 2014 11:56 am

        Hi Jason, thank you for commenting! I’m so glad I’ve inspired you to make an extra payment on your debt, that’s great! Keep it up – will visit your blog shortly! 🙂

        Reply
    24. Wendy on October 16, 2014 9:34 pm

      Hayley I am SO PROUD of you and your family!!! 🙂 Congratulations for reaching the debt free finish line. I can’t wait to see you guys when I get there. 😉

      Reply
      • Hayley on October 17, 2014 11:54 am

        GMD!!!!!! 🙂 Thank you so much for commenting on this, I did think of you when I wrote this post and wondered how you’re getting on. You know you have inspired me so much with getting our debts paid off. Have missed seeing you around the blogosphere – it’s not the same without you! I hope things are well with you and that your own debt journey is still going really well. xo

        Reply
    25. Natalya@CottageRetreatist on October 16, 2014 11:29 pm

      Hayley!

      What amazing news! Debt free and before Christmas as well! So pleased for you and can’t wait to join you (hopefully soon) in debt freedom! You did so amazingly to pay off your debt! An inspiration!

      Yay!
      Natalya @ Cottage Retreatist xx

      Reply
      • Hayley on October 17, 2014 11:49 am

        Thank you Natalya! Good luck with getting your debt paid off – hope it’s really soon! 🙂 xx

        Reply
    26. debt debs on October 17, 2014 1:19 pm

      So proud of you guys, Hayley. You set a great example of how to face your fears, bad habits and uncertainties head on. You’ve been a great inspiration to me. Thanks for sharing your story and helping others who are also ready to get their head out of time sand and get real! xoxo
      debt debs recently posted…7 Financial Lessons Learned from My Parents’ DebtMy Profile

      Reply
      • Hayley on October 22, 2014 10:53 am

        Thank you Debs for your kind words – that really means a lot to me. One thing I always wanted (and still want) to do with this blog was to help others get out of debt by inspiring them to make a change in their lives. I’m so happy that I somehow inspired you – rest assured you are doing the same for others with your own blog! 🙂

        Reply
    27. dojo on October 17, 2014 6:36 pm

      Now this is a terrific news. I AM SO HAPPY for you. I know how finally being debt free feels like, do enjoy it, you deserve this 😉
      dojo recently posted…10 Purchases That Prevent You from Saving MoneyMy Profile

      Reply
      • Hayley on October 22, 2014 10:54 am

        Thank you Dojo for your support and encouragement! Hope all is well with you? 🙂

        Reply
    28. Kayla @ Shoeaholicnomore on October 17, 2014 10:24 pm

      Congrats! Can’t wait to see what you have in store for your future now 🙂
      Kayla @ Shoeaholicnomore recently posted…I’ve Been Bad – Clothes I Bought this Year (so far)My Profile

      Reply
      • Hayley on October 22, 2014 10:55 am

        Me too lol! I’ll be posting an update on our future goals very soon. 🙂

        Reply
    29. Charles@gettingarichlife on October 18, 2014 2:16 am

      Congrats hayley on the payoff. Doesn’t things just seems so much better without that hanging over your head.
      Charles@gettingarichlife recently posted…Pay Your Past To Save Your FutureMy Profile

      Reply
      • Hayley on October 22, 2014 10:49 am

        It really does Charles. Such a sense of relief! Hope all is well with you and your family? 🙂

        Reply
    30. Jayson @ Monster Piggy Bank on October 19, 2014 12:58 am

      Amazing! That’s really something to be grateful for. Congratulations! New beginnings I guess.
      Jayson @ Monster Piggy Bank recently posted…WTF Toys for KidsMy Profile

      Reply
      • Hayley on October 22, 2014 10:48 am

        Definitely! Starting afresh now.

        Reply
    31. Debtgirl on October 19, 2014 5:02 pm

      Congrats!!!! Woo hoo! You did it!!!!! Xoxo
      Debtgirl recently posted…Pumpkin Patch 2014My Profile

      Reply
      • Hayley on October 22, 2014 10:48 am

        Thank you so much your support! 🙂 xo

        Reply
    32. Kathy @ SMART Living 365.com on October 21, 2014 8:34 pm

      Wow! Congratulations Hayley! This is such an important milestone in your life and although it took a tremendous amount of work on your part it is something that will stick with you for your entire life. There is certainly a lot more to say and everything you continue to write will help others out there that are looking for inspiration. Again–CONGRATULATIONS! ~Kathy
      Kathy @ SMART Living 365.com recently posted…Money SMART At Any AgeMy Profile

      Reply
      • Hayley on October 22, 2014 10:43 am

        Thanks so much Kathy! It was totally worth all the lifestyle changes and sacrifices we had to make – I feel as though I’ve got something very positive out of being in debt for so long! 🙂

        Reply
    33. Lisa on October 31, 2014 5:11 pm

      I AM SO HAPPY FOR YOU!!!
      Lisa recently posted…Links Lisa Likes – Engagement Party RecoveryMy Profile

      Reply
      • Hayley on November 2, 2014 9:30 am

        Thank you Lisa! I really appreciate your support! 🙂

        Reply

    Leave A Reply Cancel Reply

    CommentLuv badgeShow more posts

    E-Commerce Mastery: Tiny Tricks That Make A Ton Of Money

    May 6, 2025

    Secure the Long-Term Success of Your Restaurant Business with these Tips

    February 7, 2025

    How to Build a Diverse Crypto Portfolio for Long-Term Success

    January 2, 2025

    Navigating the Car-Pawn Financing Process in Today’s Market

    November 28, 2024

    Budgeting Hard for Your Road TriP

    November 23, 2024

    Steps for Creating a Budget

    October 3, 2024
    Disclaimer
    Any views and opinions expressed on this site are either my own or from unqualified sources. I hope you find the articles here helpful but please note that these should not be taken as any form of professional financial advice. If you need financial advice, please consult a professional.
    Popular Posts






    Recent Comments
    • Abigail @ipickuppennies on 5 Reasons to Apply for a Small Business Loan
    • Jax on Innovative Ways to Fight Your Debt
    • Syed on 5 Ways to Add Value to Your Property
    • Jax on 5 Ways to Add Value to Your Property
    • Kelly on What to Expect from a Career in Finance
    Search Disease Called Debt
    Categories
    Archives
    Facebook Twitter
    Blog Highlights
    Business

    E-Commerce Mastery: Tiny Tricks That Make A Ton Of Money

    By JennieMay 6, 20250

    If you want success in e-commerce, it isn’t always about spending more on ads and…

    Secure the Long-Term Success of Your Restaurant Business with these Tips

    February 7, 2025

    How to Build a Diverse Crypto Portfolio for Long-Term Success

    January 2, 2025
    Latest Posts

    E-Commerce Mastery: Tiny Tricks That Make A Ton Of Money

    May 6, 2025

    Secure the Long-Term Success of Your Restaurant Business with these Tips

    February 7, 2025

    How to Build a Diverse Crypto Portfolio for Long-Term Success

    January 2, 2025

    Navigating the Car-Pawn Financing Process in Today’s Market

    November 28, 2024

    Budgeting Hard for Your Road TriP

    November 23, 2024
    Facebook Twitter RSS
    • Home
    • About
    • Blog
    • Contact
    © Copyright 2025, Disease Called Debt

    Type above and press Enter to search. Press Esc to cancel.