Finally a debt free date!!!!!!!

iwantasmallholding

hiya

i just wanted to share the fact that i finally have a debt free date, I started off with a huge amount of debt, and no way to move it to get good deals,(credit rating and the amount of credit) following advice on here I found a credit union, and they agreed to lend me 15.5k thats enough to pay off all of my credit cards (which are now cancelled) and an overdraft. The loan is at 10% which is half that of my credit cards and will finish in 72 months. I know its a long time, but the interest is calculated daily, and in 24 months I will have cleared another loan so will be able to over pay. So in July 2015 I will be debt free!!! As soon as I had a target date a massive weight was lifted, I am now already overpaying a little, and it feels amazing. My credit union is online as well so I can just log on and overpay and because the interest is daily I can see the diffence.

Thanks to everyone, and now I am just gonna try and pay it off early! Its boosted my credit rating already as before cancelling the credit cards there had already extended my limits, and offered me new customer rates!.

I would recomend to everyone credit unions, and i would also recomend getting a debt free date, as when you have a target you set yourself the challenge, with out it you can't better it, and you cant tell everyone how good you are doing.


So virtual beers all round :beer: and orange juice for the drivers!!

gargrave50

Congratulations - something to aim for is wonderful. You sound like you have managed your debt really well, found and plan and pulled it off. Well done - roll on 2015! Keep up the overpayments.

mum1022

I am applying for a loan with the credit union next week and my and my partner have a joint income on £25440, is this anywhere near your income as I am wondering how much to apply for as I would like to clear off all my debt.

westiedog

I have an old loan with my works credit union. Its really good because whatever I have left at the end of the month I save - transferred over phone via debit card. Each month they send you a statement and interest is going down and you also get a yearly dividend paid into your account as ours is a non profit making credit union.- dont know if they all are? Also my savings are a little bit more difficult to get to so that can only be a good thing.

:T