Help needed

millionaire_in_training

I just went onto the mortgage calculator and 30k on a mortgage over 20 years would cost you £51, 583 :eek:. Dont do it :rotfl:

Skint_but_Optimistic

Oh dont fall off the mse wagon just plug away a bit longer. x

jellybean39

Yeah i done that on the snowball after i left the interest was hurrendous so we will keep plugging ty xx

jellybean39

I wish to apologise for my typing as i read some of my threads and wonder if anyone else understands them. Typing with a splint at the mo so it worse than ever.
Just spoke to darling mum and she has said we dont have to start paying her back until after xmas so that gives us 1200 a month til then to whack off the other debts. Going to try and get Egg2. BC3 and Scc paid by then which is 3750 which is apossibility. Scc is interest free so will leave that to last but will get rid of 100 a month so can concerntrate on extra payments on the rest. Hubby just sold over 1300 worth on ebay but need to pay some in business account but will use some to pay off some of his cards. At least he with me on this now i dont feel so alone. You lot been amazing support but needed it here to. but thankyou to you all xxxxxxx Transferred the 850 to BC1 as it low transfer rates on that one low so interest is 6.9 on there.
Interst payments 504 a month ouch!!!!!!!!!!!!!!!

jellybean39

Right another question.
Mum gave us this money to pay off loans so aa loan gone and barclayloan at 13k going which leaves enough to pay our bh loan which has a year togo at 328 a month but only 7% interest.
Would it be better to pay off egg2 2600 and sscc 2500 instead with interst rates at 16.9% and keep the loan and pay that and get rid of in a year? I think so but just would like your opinions xty xxx

jellybean39

Right no brainer!!!
Have worked out the interest saved and it would be 4k so the BH loan is staying which will be paid in a year and the 2 cc going which at the payments we are making would take 4 years. At least then will look like we are making headway. Eyes gone funny from snowballing!!
feels like it gonna take forever to pay this lot off. Think hubby realises now how bad it was when you look at the interest we are paying its scary!

Skint_but_Optimistic

aww at least you have some interest free from your mum to get yourself sorted. x

gargrave50

Hi Jellybean

Any chance your Mum would adopt me :rotfl::rotfl:?

All sounding like things are moving in the right direction xx Julie

jellybean39

Dont know what we would have done without mum. She is amazing i offered interest but she dont want it, and we got until jan to start paying her back which is great. 500 a month instead of nearly 1300 a month is great difference, we can start making headway with the rest.
We could put it on our mortgage but over 5 years it would actually save us 8000 in interest. We are going to see how we get on in next few months and then if need be we will look at that but for now going to pay off as much as possible.
Been a right day today, had my 3 and 5 year old nephews over to sleep last night and we been to a local adventure place today thats a small farm they absoloutly loved it but talk about worn out i forgot how tiring little ones can be, you need eyes in the back of your head! But good though i really enjoyed it esp when they were feeding the goats i dont think they new what to make of them!

millionaire_in_training

Hi Jelly bean. Oh waht a wee whirlwind of a time you are having. So your light bulb and your OH's is shining brightly now so you can get to work on clearing the sh*t. I agree with paying off the cards with the money you have left from your mum. I'm glad you havent consolidated on your mortgage as that then makes your debt secured rather than unsecured. At the minute if you cant pay then at least you keep your house. If you consolidate and then cant pay then house could be lost. The interest you are paying is :eek:. Dont knowif you have noticed that in my signature I have a wee bit that is telling me how much my interest is reducing. It's not going down as fast as I want it to but it will happen eventually. I desperately want it under £100 per month.