my challenge

Kevicho

I use my thread as a bit of a diary, it keeps me focused, although theres not been much activity for a week or two as i havent been paid and ive been busy doing other things

It will be good to look back on when its all over and to see the struggle weve gone through and the final result

Keep up the good work!

*Just a quick note if you post the aprs of the debts (and what you will be paying) i might be able to work out a quicker way to pay stuff off on my spreadsheet *

JAMIEDODGER

hi kevicho

barclaycard 27.9% and 6.9% balance transfers
capital one 26.9%
loan 14.9%
overdraft 9.9%
computer loan 24.9%

loan is at fixed repayment of £117 per month
computer loan fixed £12 per month

i will be paying the 117 per month for the car loan and 16 for overdraft interest and £12 for the computer, these are fixed amounts. i will also be chucking between 100-120 a week off the other debts,

many thanks if you can find a quicker way for me xx

GreenFingers_2

Well done JD - you're an inspiration to everyone... hooray... :T

Kevicho

whats the limit on the barclaycard?

JAMIEDODGER

limit on barclaycard 480. can only balance transfer 95% of total limit

Kevicho

Sorry to be a pest, to confirm you have £480 a month to spend on top of the 117 and 12 quid you spend on the loans?

If thats the case i may be able to get the date down a couple of months

Another thing, with overpayments on loans are there any fees?

Jus need all the info to not get your hopes up lol

JAMIEDODGER

you are not a pest at all, i appreciate the help.

yes i have 480 plus 117 and 15 and 12 but can only pay this much feb and march.

from then on it will be about 100 per week.

i wasnt planning on overpaying the loan, but putting it in my ING account until i have accrued enough to pay off settlement (at moment as of sig). my ING is 4.5% and i am a non tax payer. or would i be better paying it into my ISA (with alliance and leicester 5.2 plus 0.7 bonus)

are you confused yet? i am lol

Kevicho

It may be worth checking out overpaying as the interest is much greater in those 2 loans, if there are no penalties it may save you in the future

I dont know about the savings, but it prob would be best in an account which pays interest at the end of each month, so you dont lose out

if you enquire about that and let me now ill post the spreadsheet ill do, the one ive done so far (at 400 per month) the last payment is in october 07 and that includes all the interest

James240

go jamiedodger !!!! u go girl!! x

bingbong_3

ha - you think an apr of 14.9% is high on a car loan do you?? :rolleyes:

Try this -

£24,000 loan with HSBC ( business banking ) for an eye watering 16.9% :eek:

Managed to talk them down to a bargain 12.9% though :eek:

Now - if there was ever a time for an :eek: then I am sure mine wins!!

Cheers Guys.