Debt Free in 2009 support thread

jmf76

Hi,, Can I join in please - I aim to get the equivalent of my debt (now £5k) in savings by the end of next year (all debt is at a v low APR, so I want to start stoozing!! )

The_Dragon

jmf76 wrote: »

Hi,, Can I join in please - I aim to get the equivalent of my debt (now £5k) in savings by the end of next year (all debt is at a v low APR, so I want to start stoozing!! )

Good to see you jmf (love the Avatar BTW!), mizmir will be able to add you and GGG when she gets back at the end of the week - in the meantime debt bust away!

elantan

The_Dragon wrote: »

I hope you bright people can help me - I am near the max on my CC (limit is 2,500 and I am currently at £2,445), if they say the minimum payment is for instance £50 then I am guessing that is any interest so if I pay ANYTHING at all over this then this is off the capital and the bill goes down.

Am I right on this?

dragon as far as i know it goes something like £40 of that £50 will be interest £10 will come off the amount you owe (maybe not exactly those figures but something close) and if you pay any more on top of that it comes off the amount you owe ...so say you pay an extra £75 that month then you will have paid £85 off the total ...does that help?

The_Dragon

elantan wrote: »

dragon as far as i know it goes something like £40 of that £50 will be interest £10 will come off the amount you owe (maybe not exactly those figures but something close) and if you pay any more on top of that it comes off the amount you owe ...so say you pay an extra £75 that month then you will have paid £85 off the total ...does that help?

Thanks El, I am trying to throw at least an extra £50 per month at this and I was hoping that this meant I was clearing a decentish sum off the capital!

elantan

that will deff make a difference dragon ..

The_Dragon

elantan wrote: »

that will deff make a difference dragon ..

Thanks El!

Pips_Mum

Just put my debts into the snowball calculator.
I think I did something wrong as it came out I would be debt free in 2043 !!!!

Bit past our 2009 challenge date!!

Spurred me on to get rid of those odd pennies again so paid £14.71 off total.

Dex

Hey

Paid £35 off the credit card AND £51 off the next account.:)

sheepchick

hi, can i join please?.........not sure of my total debt that i want to clear at the moment will update later if thats ok?

The_Dragon

sheepchick wrote: »

hi, can i join please?.........not sure of my total debt that i want to clear at the moment will update later if thats ok?

Good to see you sheepchick! Mizmir will be back and able to update sometime over the weekend so that gives you a couple of days to sort things out - not everyone wants (or will be able!) to clear their whole debt but we are all planning on getting rid of as much as possible!