'don't put if off another day' diary

Moneytroubles_2

Hi homegrown life!

Whats the interest rate on your current overdraft? maybe ask them to freeze the interest and open up a new account, and then just pay off the overdraft until it reaches 0?

xxx

homegrown_life

Moneytroubles wrote: »

Hi homegrown life!

Whats the interest rate on your current overdraft? maybe ask them to freeze the interest and open up a new account, and then just pay off the overdraft until it reaches 0?

xxx

thanks, the interest rate at the moment is something like 19.5% which for me works out at around £25 a month and would have got less as my o/d was paid off. But they're changing it to a flat rate of £1 per day which will mean that if my o/d was £100 then I'd get charged the same as if it was £2000.

I assume that if I asked them to freeze the interest I'd end up with defaults and stuff on our name which we've been through before and although was the right decision at the time isn't what we want to do now. I so want my own house one day, I just want a squeaky clean credit file!!

I've been number crunching though and it would still be better for us to pay the CC's off first than the o/d so at least that's no different. It's annoying though :mad:

I'm going to ring them up tomorrow and see if we can get a reward account where they pay us £5 a month for having £1000 or more paid in, and maybe ask about switching it to a 0% card. That would be the best plan, but I'll not hold my breath!!!

Moneytroubles_2

Ah well you seem pretty sussed on things, so good luck! it is hard have more than one debt you just dont know which to tackle first!

homegrown_life

dunno about pretty sussed!! But thanks anyway

Payment from amazon from a dvd sale came through today so I paid it straight off the CC1. Makes me feel like I've done something :rolleyes: Going to request money from paypal just now so I can eventually pay that off too.

Not sure what other debt busting things I can do today, but planning a NSD and hopefully can pick up a housing benefit form today too. Wish me luck, it's a hell of a form and I need to take half my life as proof of things too :rolleyes: That's why I gave up on it last time I think!

Hoping to get the debt total below £6k by the end of this month. Small goals to start off with!

homegrown_life

success - managed to get about £20 refunded to my vodafone account. Prob won't take affect till next month as this months bill has already been generated, but means that next month should be effectively free. Then that phone will be cancelled anyway. :j

Put figures in again for housing benefit as I think I got mixed up somewhere and it's showing we wouldn't be entitled. Never mind, glad I checked as it will save me spending ages filling the forms out.

Still not phoned halifax. Been putting it off.

Have made bread to save going to the shops later and made up some powdered milk that was in the cupboard for emergencies (and will go out of date next month) to stretch what we have left. Hoping for a NSD today :cool:

Moneytroubles_2

Homegrown life, get halifax phoned up (that was a gentle kick up the bum) good luck on getting the debt down! Im going to aim to get rid of very before new year it's £800 tho so may be abit hard! we'll see though....

homegrown_life

Thanks for the gentle kick up the bum, I need a bigger one though!! Shall try and phone up tomorrow though. Really need to try something with that account.

Really pleased. I've got a couple of payments going to hit my account soon, virgin bingo, paypal (from ebay sales) and then another paypal in a bit. When I pay it off the Credit Card 1 it will be under £1000!!! Also will bring total debt to under £6k too

Think I've met my make £5 a day total so far, will have to have a calculation when my ebay sales have been posted.

All in all quite good.

Moneytroubles_2

Well done homegrown life you sound like your doing ace xxxx

penguin83

Hi Homegrown, just read through your diary. You have made a great start and I am sure you will cut that debt free date.

x x x

homegrown_life

Thanks for the comments guys Really nice to know you're not alone.