Shifting a 24K debt in a year?????

Kepp

That's the same account no and sort code they gave me for setting up a standing order, just tried again to do it as a payment and got this

1506406 : We're sorry, but you can't designate a Lloyds TSB Personal Loan as a beneficiary. Please correct this and try again.

Whatever that means!

Will try again in branch at lunch time.

Thanks though Adam

Kepp

Some more calculations - DFD down to May 2013 from Jul 2013! :T

Dec 2012 here I come!

Woowoo

Thats excellent news, you will definitely get it down to Dec 2012, if not even sooner x

Ceniza

I notice your OD fund. Do you have an over draft too? Do you include that in your total figure?

Woowoo

I have a £2900 overdraft with Lloyds, this is included in my total figure and is next on the hit list after the Lloyds CC.

It is a platinum account so costs me an additional £17 every month. I asked about down grading the account but they said the interest rate on my overdraft would go up and would end up costing me more than the £17 account fee. In hindsight I'm not sure I should of just taken them at their word and accepted their calculations....

Kepp

Ceniza wrote: »

I notice your OD fund. Do you have an over draft too? Do you include that in your total figure?

I did have 3!

I paid off the two Lloyds ones with the loan as they were both 19% :eek:

The Santander one is 0% until August 2011 so I decided not to pay that one off yet. It reverts to 12.9% after this, which means it would have been one of my last debts to snowball.

I figured that if I could save an extra £5 a day on top of all my other payments so that I just pay this straight away when the 0% runs out I could potentially knock another 2 months off my DFD. It will be a challenge but I'm gonna go for it!

I always included all three in my debt total cause I wanted to be OD free too by the end of this all.

Do you have ODs you don't include?

Kepp

Woowoo wrote: »

I have a £2900 overdraft with Lloyds, this is included in my total figure and is next on the hit list after the Lloyds CC.

It is a platinum account so costs me an additional £17 every month. I asked about down grading the account but they said the interest rate on my overdraft would go up and would end up costing me more than the £17 account fee. In hindsight I'm not sure I should of just taken them at their word and accepted their calculations....

I think with Lloyds ability to add up it might be worth checking those figures yourself...:rotfl:

Woowoo

My maths is as bad as theirs though lol!

I might ring up and get the interest rates and then maybe you guys could help me figure it out?

Kepp

Woowoo wrote: »

My maths is as bad as theirs though lol!

I might ring up and get the interest rates and then maybe you guys could help me figure it out?

I think that's a good idea. We could all add up and see what we all come up with?

Might be interesting to see if we all calculate things the same as well

Woowoo

Ok, I have no clue how to figure this out, help please!!!

I have a Platinum Account, the interest rate on this is 0.97% per month (12.3% per annum).

If I switched to a Classic Account, the interest rate on this is 1.48% per month (19.3% per annum).

My overdraft is £2898.00.

Basically will it cost me more or less than £17 per month to switch? (£17 is the fee for a Platinum Account).

I asked the Lloyds woman to calculate it and she couldn't!!!