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

Kepp

*zippy* wrote: »

I did it today and a £250 overpayment took a month off my DFD I was really surprised :T Mines currently July 2013 so i'm a bit behind you both and need to catch up

Well done Zippy! :T

It's such a boost to see how much of a difference overpayments can make.

We should all keep challenging each other to bring those dates down!

Kepp

Don't want to get my hopes up too much, but just tried online (after finally resolving log-on problems!) and it seems Egg have let me transfer £692 from MBNA over to them, said it will take seven days to go through. Hope it does, unlike Lloyds who say yes online and then send you a letter to say no!

It's only a small amount but will help with the horrific interest being paid!

Going cleaning tonight so that will be a bit extra money.

Am also going to phone MBNA, if I can't transfer the balance away I can at least attempt to try and convince them to lower the APR - yes, I am getting desperate here!

*zippy*

Every little helps

I was wondering this morning if its worth me ringing M&S to reduce my rate its 21%. It may sound daft, but the fact the hiked my interest rate makes me mad enough to want to pay it off quickly and cancel the card so it was actually a good motivation.

Ceniza

beccie wrote: »

Ha ha, but it's easier if I give myself a little headstart!

Ok, how's about my 1st Sept we have both reduced our DFD to at least March 2013, that's one month off for you, two months off for me - and that's two paychecks to achieve it in

What do you say???? :think:

Okay, sounds like a plan. assuming you just put your new debt total into the snowball calculator, with the same monthly payment to see your new date?

I currently do £800 a month, so I just do it again on the 1st September with total and £800 a month to see what my new date is, yes?

beccie wrote: »

Don't want to get my hopes up too much, but just tried online (after finally resolving log-on problems!) and it seems Egg have let me transfer £692 from MBNA over to them, said it will take seven days to go through. Hope it does, unlike Lloyds who say yes online and then send you a letter to say no!

It's only a small amount but will help with the horrific interest being paid!

Going cleaning tonight so that will be a bit extra money.

Am also going to phone MBNA, if I can't transfer the balance away I can at least attempt to try and convince them to lower the APR - yes, I am getting desperate here!

I'm sure if you said to them that you're having financial difficulties with rent and bills and that you want to keep paying them the money you owe them, but you're struggling with the high APR you're trying to pay back too, they may freeze the interest. It's worth a shot, hey?

Kepp

Ceniza wrote: »

Okay, sounds like a plan. assuming you just put your new debt total into the snowball calculator, with the same monthly payment to see your new date?

I currently do £800 a month, so I just do it again on the 1st September with total and £800 a month to see what my new date is, yes?



I'm sure if you said to them that you're having financial difficulties with rent and bills and that you want to keep paying them the money you owe them, but you're struggling with the high APR you're trying to pay back too, they may freeze the interest. It's worth a shot, hey?

Yep, just put in new totals and just keep the assumption that the payments will remain the same.

I'm gonna try not to check my new DFD till then, although it's gonna be hard to resist the temptation

Thought it fairest to say 1st Sept as after that I am expecting a payrise and a bonus in the next paycheck. Although not sure how much either of these will be, but let's hope they make some kind of difference!

That's my theory, the worst they can say is no and then I'll still just be where I am, nothing to lose but definitely something to gain!

jtr2803

Hi Beccie! Loads of posts since I last dropped in :eek:. Sorry to hear about your late pub shift, I feel your pain with customers who won't go home, I try and be a good customer when I go to the pub now. The fight sounds nasty as well, good on you for calling the police.

And :beer: to the new flat! So glad you got something you liked and your motivation is still so strong. I have my fingers crossed that the MBNA balance transfer goes through as well.

Ceniza

beccie wrote: »

Yep, just put in new totals and just keep the assumption that the payments will remain the same.

I'm gonna try not to check my new DFD till then, although it's gonna be hard to resist the temptation

Thought it fairest to say 1st Sept as after that I am expecting a payrise and a bonus in the next paycheck. Although not sure how much either of these will be, but let's hope they make some kind of difference!

That's my theory, the worst they can say is no and then I'll still just be where I am, nothing to lose but definitely something to gain!

Snap! I have a payrise and bonus due in September too So maybe we'll have to do this 1st Sept and then again December or something

Kepp

So, I phoned MBNA last night. On a positive note they said that so long as regular payments continue then reducing the interest rate is something they can consider. On a negative note, I needed to speak to the 'interest regulation team' who go home at 7pm. And of course it was 7:05 when I called!

Got a direct line number though so will call them when I get in tonight, so everyone, fingers crossed!

Got some more cleaning money yesterday, only £12 but that's already on it's way to MBNA.

And whilst having breakfast, I once again fired off my payments of pennies to them

Plans for the weekend are - staying in tonight but treating ourselves to a McDonalds, dog walking during the day on Sat, working till close in the evening, working Sunday afternoon and then hopefully round to one of my friends to have a cup of tea and catch up. Lots of working but it all helps towards those overpayments

Ceniza

I guess that's kind of good news about the MBNA card! Good luck

Kepp

Kind of definitely being the right word, but oh well, am always keeping my hopes up until I get a definitive no Then I'll probably allow myself a bit of a strop - anyone else find the occassional strop keeps them going???? :rotfl:

On a completely random note, went round my mum's for dinner last night and she is concerned bout my older brother's level of debt. He is living back home with them (the third time he has moved out and come back home due to being unable to cope with money). He's away on holiday but due home today, hence the chat last night as to how she should tackle him. He has a very well paying job but is always in debt and just spends, spends, spends. My mum was unsure as to whether she should say anything as he is 29 years old but does feel that as he asked to move home and promised to tackle his debts and hasn't that as her and my Dad are helping him, they are entitled to have a say, which I agreed with. She doesn't want him to know she talked to me but I am very honest about my debts with her so she wanted some tips for sites to use etc. My parents aren't freaked out by debt or anything and are extremely supportive but they don't like me or my brother lying to them cause then they feel like they can't help us.
I know my reasons for overspending and why I had my LBM but just wondered if anyone else had any other pointers from why they had theirs that could maybe 'induce' an LBM in someone else? I realise that sounds really weird! Just hoping I can help in some way as I don't like the idea of my brother being in a mess and my parents being stressed out because of it.