Lightbulb Moment

coxj2901

Thanks DontDoDebtKids! I've been following your thread and my long term aim is similar to yours to be able to invest some money at some point when this dreaded debt has gone.

I cycled to work today and it took me around 25mins which is not too bad. We have a shower at work so at the moment it looks a feasible option. Typical of me to start this with winter fast approaching though!

The good news is that my cheque cleared from the sale of my car so I have just phoned the bank to clear my overdraft in full and will be writing to Lloyds TSB to ask for a settlement figure.

I have also applied for an Marks & Spencers Credit card that has a 3.9% rate for the life of balance transfers which seems incredible. Will hopefully be able to shift some higher rate debt onto that if I get accepted.

Need to alter my sig now!

Rgds, John

bluezone

Thats great news cox. ;D :D:D :D:D:D

Verbatim

What a difference you have made to your situation in such a short time! I'm full of admiration. Totally impressive.:T

EagerLearner

Amazing progress and so inspiring - I am sure we've all learnt a lesson or two!

Keep up the good work and the positivity - I will bet each time you change your sig it feels grrrrreat!

coxj2901

I've just telephoned MBNA to see if I can overpay on this loan and they have said that I can make 1 overpayment during the term of the loan and they will reduce the monthly payments each month :mad:

Therefore I have made a £180 overpayment on my mortgage. These funds were from the last batch of stuff sold on ebay which hit my account today. I will keep chucking money at my mortgage until the house is sold so that I can try and clear the MBNA robbing loan sooner rather than later

Have got another 11 items ending on Sunday so should be able to pay some more off once the funds clear in my account.

I have only got £100 left in my account now until payday and this has to cover 1 more online shop next week, petrol expenses and living expenses.

Gonna edit my sig again. This is my favourtie part of keeping this blog :rotfl:

EagerLearner

Well done - at least the mortgage can slowly be eaten away at...!

Older loans are very inflexible - did you take out that one a while ago, or are MBNA just very rigid on their pay back terms? I know I was with 'MasterLoan' a division of Barclays for my 1st loan 10 years ago and it was a nightmare. All the letters were old-fashioned typewriter script and you couldn't pay anything off unless you intended to pay the full amount...

Still, at the rate you're going, you won't ever need a loan again when you are debt free!

coxj2901

Today's been a busy day on the finances front! I went into the branch to pay off the lloyds tsb loan so that has now gone :T

I have also made an overpayment of £1,000 on my mortgage as this is the maximum amount I can transfer from my bank per day.

I now have £2,600 left in my savings account from the sale of my car which will be thrown at the mortage over a 3 day period

Now it's time to buckle down to some hard work via Ebay, Online questionaires, mystery shopping, quidco etc..........................

Rgds, John

coxj2901

I've received £45.05 from Retail Eyes today and my child tax Credit of £40.91 has gone into the bank so this will give me more to throw at the mortgage over the next few weeks.

I've just paid another £1,000 off my mortgage from the funds I got from the sale of my car (I can only pay £1000 per day maximum from my Barclays Account)

We had another viewing on the house this morning so that's 3 viewings in this first 7 days of it being marketed but no offers as of yet!

Rgds, John

coxj2901

I've just paid another £1,000 off my mortgage and will pay circa £550 tomorrow and then all the money from the sale of my car will be gone :eek:

We received £40 from the sale of items on ebay over the weekend and we have listed another 18 items so hopefully they will sell aswell.

jobbingmusician

Are we going to have a party when you've paid off 10%? Well done, excellent progress!