As of March 2026, my total debt sits at just under £40,000.
Most of this debt is now being repaid through a self-managed Debt Management Plan, where I make monthly payments directly to creditors or the debt collection agencies managing the accounts.
Here is a full breakdown of the debts I am currently repaying.
Current Debt Overview
| Creditor | Managed By | Balance | Monthly Payment |
|---|---|---|---|
| BetterBorrow | Credit Security | £5,783.76 | £56.02 |
| Carmoola | Carmoola | £5,589.00 | £243.00 |
| Capital One | Capital One | £678.92 | £50.00 |
| Lendable | Lendable | £16,770.69 | £351.25 |
| LikelyLoans | ACI | £2,352.73 | £41.14 |
| Lloyds Bank | Link Financial | £1,490.30 | £21.70 |
| O2 | O2 | £3,216.14 | £230.60 |
| Onmo | Onmo | £1,737.62 | £50.00 |
| Sky Laptop | Sky | £671.64 | £32.58 |
| Vanquis | Vanquis | £447.58 | £14.00 |
| Virgin Credit Card | Moorcroft | £990.77 | £9.30 |
Total debt: £39,729.15
Total monthly payments: £1,099.59
After my February payments, the balance reduces to £38,629.56.
How Long Will It Take to Repay?
Based on current payments and assuming nothing changes, the estimated repayment timeline looks like this:
| Creditor | Months Remaining | Years Remaining |
|---|---|---|
| BetterBorrow | 102 | 8.5 years |
| Carmoola | 22 | 1.8 years |
| Capital One | 13 | 1 year |
| Lendable | 47 | 3.9 years |
| LikelyLoans | 56 | 4.7 years |
| Lloyds | 68 | 5.6 years |
| O2 | 13 | 1.1 years |
| Onmo | 34 | 2.8 years |
| Sky Laptop | 20 | 1.6 years |
| Vanquis | 31 | 2.6 years |
| Virgin Credit Card | 106 | 8.8 years |
If everything continued exactly as it is today, my overall debt repayment time would be roughly 9 years.
In reality, that timeline will likely change as smaller debts are cleared and payments are redirected toward larger balances.
The Biggest Debts
Three accounts make up the majority of the total:
| Creditor | Balance |
|---|---|
| Lendable | £16,770.69 |
| BetterBorrow | £5,783.76 |
| Carmoola | £5,589.00 |
Together these three debts account for over £28,000, which is more than two-thirds of the total balance.
Debts That Will Be Cleared Soonest
The first debts expected to disappear are:
- Capital One – around 1 year remaining
- O2 – around 1 year remaining
- Sky Laptop – roughly 1.5 years remaining
Once these are repaid, the monthly payments can be redirected toward other balances, which should help accelerate the overall repayment process.
The Reality of Debt Repayment
Looking at the numbers written down like this makes one thing very clear.
Debt repayment is slow.
There is no dramatic moment where everything suddenly improves. Instead, it’s a steady process of making payments month after month and watching the balances gradually shrink.
The important thing is that the direction is now the right one.
Each month the total balance reduces, and over time that progress adds up.
