Naughty with Credit Card debt but it had to be done

mufc689908

NPowerUser wrote: »

I will get plenty of interest written off but I expect to have to repay the debt (current balance) in time.

Dig your heels in buddy, ive got 16k written off in short settlements and am awaiting for another 6k to go on the last card :cool:

CannyJock

NPowerUser wrote: »

I think I can live with the pennies lost in interest on £170 a month. Its a debt I would have to pay regardless during the year. I just want a clear run at getting some cash together over the next 12 months.

It's the moneysaving principle that counts. Apply the same philosophy to other bills and aspects of your life and you might surprise yourself with the additional interest you can earn and put to good use (like clearing your debts). There's also the positive cashflow aspects to paying by installments which as a self-employed person I'm sure you'll appreciate.

Almost_In_The_Black

CannyJock wrote: »

It's the moneysaving principle that counts. Apply the same philosophy to other bills and aspects of your life and you might surprise yourself with the additional interest you can earn and put to good use (like clearing your debts). There's also the positive cashflow aspects to paying by installments which as a self-employed person I'm sure you'll appreciate.

NO - this is not about the moneysaving principle. Moneysaving is about getting the best and fairest deal for the consumer. This thread is all about some lowlife weasling out of his debts because he thinks he knows how to work the system and then bragging about it.

I for one hope that his lenders catch up with him and take him for all that he has. I have every sympathy for people in genuine distress, but irresponsible idiots like this fu***ng the system can only surely make the banks and other creditors less willing to be helpful which in the long run only hurts the people who truly need help and sympathy.

NPowerUser

CannyJock wrote: »

It's the moneysaving principle that counts. Apply the same philosophy to other bills and aspects of your life and you might surprise yourself with the additional interest you can earn and put to good use (like clearing your debts). There's also the positive cashflow aspects to paying by installments which as a self-employed person I'm sure you'll appreciate.

Thanks for the tip. Something to think about next year (seeing as I have already paid this years council tax).

I was hoping to get a few thousand saved this year and try and lop it off the new mortgage via overpayments. I know its only 3.99% but as I want to move in 2 years this could be my best option with whatever I manage to save.

The less I owe to my mortgage provider in the next 2 years, the less I have to pay them when it comes to redemption.

NPowerUser

Almost_In_The_Black wrote: »

This thread is all about some lowlife weasling out of his debts because he thinks he knows how to work the system and then bragging about it.

Hope to work the system but not guaranteed. Guess those people that get 0% rates on their credit cards are not getting that rate at the expense of those that do pay interest every month?

Almost_In_The_Black

NPowerUser wrote: »

Hope to work the system but not guaranteed. Guess those people that get 0% rates on their credit cards are not getting that rate at the expense of those that do pay interest every month?

People using 0%, stoozing and all of that ilk are using a service. Which yes is offered by the bank on the grounds that x% will revolve a balance once it starts earning interest making enough money to cover the loss from people who leave right away and more. But they do so by following the terms of the agreed contract.

You however are decieving the bank.

In short, you are a thief.

Yeah, you probably feel all clever and that, but the banks employ far cleverer people than you. And at some point they will work out what you're up to.