Advice from those who have done it?

lynzpower

Ive got tescos unlimited broadband offer which is 17.99 a month ( plus cc point ) but im fairly sure there is cheaper

nadnad

ok thats brilliant - you've done so much - you're obviously very motivated!

now could you check a couple of things - i was doing another snowball for you and i know cahoot's minimum payment is 2% - but what is your capital 1 card - some of them are 5%, some 3% - I'm hoping yours is 3% (i would say by the payments you mentioned previously that it is 3% but just double check) cos that will be a lot easier for you.

re broadband - tiscali is 14.99 a month i think.

MerseyLad

Currently looking into Tiscali @ 14.99 GBP per month.

My only concern is there reputation on the adslguide website, they get a right slating.

nadnad

alrighty then like I said before you get paid 4 weekly but debts are monthly so things look worse than they are.

your monthly wage is 985 per month (4 weekly 910). your total outgoings the way things stand now would be £854. leaving you £131 per month.

now if you go to the snowball calculator and put in all the aprs and balances etc - it shows you what you should be paying each month. Now if you could pay £676 in total off your debts (you were previously paying about £593) that would leave you with about £100 per month to do what you like and you would be paid off everything in 41 months - which is already 9 months more quickly than earlier today! so with a few phonecalls you wiped off 9 months - obviously any further better apr deals will bring this down even further - also if you make more money you can pay off quicker - but my advice would be to take a look at the snowball calculator you can play around with the numbers and work out how much to pay yourself - you'll also know how much exactly to pay each month to keep yourself on track.
let us know what you think of it.

nadnad

a few other thoughts - the loan at 4% any chance of putting the loan at 9.5 onto this lower rate one? if you can do this you need to first check that you can pay the 9.5 one off without penalty.

also did you ask capital one if they could increase your credit because then you could transfer the cahoot cc onto that lower rate.

if you were able to do these two things - you would reduce debt free date by another month.

- it just shows you what savings you can make with very little effort or thought!! :beer:

MerseyLad

Hi Nadnad.....

I cannot convery the other loan to the 4.5% as it is a percentage of our annual wage that we can have at Base Rate and I have already got this.

I did ask Capital One to raise my limit, they said they dont do it over the phone and so are unable to do this at present, but if i can, they will write to me to advise in the future.

I like the sound of the snowball calculator.....9 months in half a day!!

nadnad

good int it!!

well you're on the right path - did you check out that snowball calc. it'll keep you right as to how much you should be paying off each debt in order to minimise interest.

anyhow i gotta go - i only came up here to take my mind off the Arsenal - i'm a nervous wreck and my heart's pounding - i'm sure you don't care cos you must be what, a Liverpool supporter?

LookingAhead

Hey there - just wanted to say HI and welcome (especially to another Liverpool fan ) and WELL DONE on your progress so far! Think you've really taken the bull by the horns and got stuck in...I'm well impressed.

Would just like to say I use PlusNet for broadband. It is £14.99 per month - reduced by 50 per month for every referral you make that goes live. So I am paying £14.49 as we got BF's parents to sign up!

I think it is unlimited and also they are upgrading people from 2mb link to up to 8mb link (depending on what your exchange can carry).

I can recommend PlusNet as a good service provider anyway.

Good luck and you will get on with SouthernScouser, he is a mad Liverpool fan as well! :T

nadnad

nadnad wrote:

good int it!!

anyhow i gotta go - i only came up here to take my mind off the Arsenal - i'm a nervous wreck and my heart's pounding - i'm sure you don't care cos you must be what, a Liverpool supporter?

am gutted.

MerseyLad

nadnad wrote:

am gutted.

Yeah, the referee did you no favours there last night mate. Ruined what should have been a great game.