My Debt-Free-Wannabe Diary

DontDoDebtKids

Got my M&S card and paperwork through in the post this morning with a limit of.......£7000!!! :eek:

That's a lot.

That's really a lot.

I rang them up and balance transfered the whole £7k onto my Capital One card, meaning that Capital One now owe me £5,080.94. That means I am only short of £1,481.24 to pay off my Egg loan and I have just been paid so might just be able to manage it!

It takes up to 10 days to get to the other card so I will wait until the 23rd October then ring Capital One to close the card and ask for a cheque settling the balance.

I've asked Egg for a settlement amount to see exactly how short I will be - these last for a few weeks I think so should still be accurate when I get the money from Capital One.

Once all these shenanigans are sorted it could mean that my most expensive debt is at 4.9% -

My debts could look like this when I get the money off Capital One and pay off my loan using my current account balance:

Capital One - closed
Egg - closed
M&S - £7000 (@3.9%)
Amex - £5862.22 (@4.9%)
Lloyds - £1919.06 (@3.9%)

Total - £14,781.28

DontDoDebtKids

I've just been playing with snowballs on https://www.whatsthecost.com and am getting very excited that my debts are so much cheaper now. I only save £30 in interest by paying them off in the snowball order!

I would love to figure out how much interest I will save by moving my debt from 7.9% to 3.9% but I'm too excited at this moment.

In other news, Capital One sent me more credit card cheques in the post yesterday - can't wait to get shot of that lot of debt pushers! An idea did occur to me, which was to use a credit card cheque to pay myself the balance quicker, but that would invoke a 2.5% fee and 22.9% interest and all those horrible horrible things that credit card cheques should be banned for so that thought quickly passed from my mind.

DontDoDebtKids

Just signed up for the Capital One internet banking website so I can check the balance online. Will now check it every day until I see the balance transfer has registered then I will phone them up to cancel the card.

Slick!

DontDoDebtKids

Shredded those damn credit card cheques!

Grrrr :mad:

Quite a satisfying experience.

DontDoDebtKids

Just saw crawley_girl's post that AQA was recruiting so have quickly sent them an email along with some drivel about how I'd be good at "ending question marks". Hopefully no worse than other people's answers!

DontDoDebtKids

Direct Debit of £147 gone to Amex, so debt totals are now:

Debt Totals

Egg: £6562.18
Capital One: £1901.88
Lloyds: £1919.06
Amex: £5715.22

Total: £16,098.34

DontDoDebtKids

Just checked and Capital One hasn't yet been credited with the £7k balance transfer.

Going to be great fun to cut up another credit card!

DontDoDebtKids

Actually, it's going to be more fun to ring up Egg to repay my loan!

DontDoDebtKids

OK, here goes:

Spending Diary

£6.66 Lunches at work
£23.90 Meeting friend for lunch
£13.30 Business Expenses (not counted as to be refunded)
£23.64 Christmas Presents
£23.00 2006 Diary
£229.40 New Computer Monitor

Total £306.60

I'm starting to regret getting the monitor now...

crawley_girl

DontDoDebtKids wrote:

Just saw crawley_girl's post that AQA was recruiting so have quickly sent them an email along with some drivel about how I'd be good at "ending question marks". Hopefully no worse than other people's answers!

Snap! Me too... nice to get a mention in someone's debt diary thread

Great job you are doing at hammering down those debts

:heartpuls CG :heartpuls