IA's back on the tracks diary.

immoral_angeluk

Snaggles wrote: »

What would the APR be?

Typical is 9.9% :rolleyes: Not sure til I apply and the online quote thing won't work.

Is the APR fixed for the life of the loan? Sometimes flexible loans have a variable interest rate, which means they might be charging 8.9% now, but they can just 'decide' to put it up to 24.9% whenever it suits them.

I can't see anything that says...

Would you actually save money overall (what is the total charge for credit (interest + any fees), and the total amount you would pay)?

Not sure without knowing the APR. Got to be cheaper than paying 19.% on Ste's card, 18.9 on mine,24.1% on the car and potentially 37.9%+ on the tv if we don't pay it off..

How confident are you that Ste wont use his credit card? He is used to having that bit of 'flexibility' again now....might be difficult for him to be strict with himself again (oooh, that sounds a bit kinky ).

If we did this his life wouldn't be worth living if it got ran up again.

immoral_angeluk

Toto wrote: »

I think if you were to go down the consolidation route you would have to close all credit accounts at the same time. I know from painful experience how hard that is to do, I always kept one for 'emergencies'. I was the typical nobhead who remortgaged and cleared all of the debts, only to go and start the business and rack up 60k again on the cards and the egg loan. Ok, we survived it and cleared it all but I would hate to see you in that position sar after all of your hard work.

I know... which is why I'm seriously mulling it over instead of listening to Ste who just said 'do it'...

immoral_angeluk

Pros -
would be easier to manage having it in one place
Would save money in interest depending on rate given.
No early repayment charges or set up fees
They do loans to suits budgets rather than set payments
Can deal with it online
would be forced to stop spending on unneccesary stuff.
Car would be ours, so could sell on if need be.
able to increase payments/reduce loan term if need be

Cons -
Risk of cards being run up again (*ahem, Ste!), would have to be very controlled.
Not guaranteed to get it
Not sure of exact APR.
Debt would all be in my name...
Interest may not be fixed.



Hmmmmmmm

beanielou

Why dont you get a wee quote from Egg & find out what APR would be then you can go over your pro's and con's again?

immoral_angeluk

beanielou wrote: »

Why dont you get a wee quote from Egg & find out what APR would be then you can go over your pro's and con's again?

I've been trying but the website won't work. Trying calling only to be referred back to the quote thing on the website... which doesn't work... so have sent them a message.

daphne_descends

Hi IA, I can see why you're considering consolidating it, but I'll tell you why I wouldn't - your debt is manageable, and to a degree, is fluid - it might go up or down depending on the needs of your family or extra money you have - I think the flexibility of this outweighs the pro's of just one payment to worry about etc.

immoral_angeluk

Morning everyone. Tc day today so the savings are now up to £320.66. The paypal money also went into the bills account today and just waiting for one last DD to go out when we'll have about £18ish spare in the account to move over to savings Also got more TC than was expecting, £150 odd instead of £142.... hmmm.. Oh well I'm not complaining!

I *may* be having my last sitting tonight. Booked it on monday and she's going to try and squeeze me in at 5pm. If they can't fit me in they're going to call me later this morning when they open about 11ish. Touch wood!

Other than that not much to report. Was supposed to be having a party tonight but having to rearrange it because of possibly having my tat. Also waiting to hear back from a girl who's party I've got booked for friday but she never returns my messages.. :rolleyes:

Went running with the Dster again last night and we got caught out in a storm :eek:. Now.. I've never mentioned it... but I HATE lightning with a passion... ESPECIALLY when caught out in the open... and where were we? In a storm, out on cannock chase in the open. _pale_ Needless to say I sprinted back to the car thinking I was about to die.... not a good way to get exercise!!! :eek:

oh... and apparently my sig was advertising? Eh????

System

Hi I-A glad to see you are still running. When I was young I was literally inches from a lightning bolt; I literally saw hit the ground through a power grid thing behind a fence thingymijig. It shocked me (no pun intended )

immoral_angeluk

lennymfo wrote: »

Hi I-A glad to see you are still running. When I was young I was literally inches from a lightning bolt; I literally saw hit the ground through a power grid thing behind a fence thingymijig. It shocked me (no pun intended )

:eek: :eek: :eek: :eek:

sammy115

IA - just read about the consoliation bit and wondered if I could add my bit of thought!

and my thought was.......................hang on will come back to me in a minute>

Oh yeah! at the minute you are building up quite a good credit record by paying and overpaying your credit cards. Would it not be a good idea to carry on in that way to keep building up a good credit history. For no other reason than one day you could be the next Martin.......you might want a mortgage or another 0% card to tart with....you know what I mean...