The "Pay ALL your debt off by Xmas 2012" challenge

mf0u1098

idristhedragon wrote: »

hello again-n im so slack but Im a sneaking on to tell you I just paid £17.83 off Very and now the balance is zero!!!
YEAH, MAN, I feeeeeellll goooooodddddddd

:T:T:TOoooooh does this mean I can update your total then...? If so, what have you paid off so far then?

xxx

louisa_84

cripes, i forgot very, i have another £700 on buy now pay later with them

mf0u1098

beccie wrote: »

Hi, haven't had chance to read the whole thread yet but can I join too please?

I need to pay off £12,234

My DFD is currently Nov 2012 but I have to hit some very ambitious targets to achieve this so this challenge sounds like exactly what I need!

Welcome to the team Beccie!:j Looks like you've paid a huge amount off in the last 18months so well done.

p.s. Don't worry about not managing to read all the thread yet, I have trouble keeping up with it myself! I cannot believe how quickly this challenge has taken off. There is such energy and enthusiasm on here that I know we cannot fail! I'll add your name and amount to the 2nd post xxx

mf0u1098

louisa_84 wrote: »

cripes, i forgot very, i have another £700 on buy now pay later with them

Doh!!! Better to find out now though than when you think you've finished! Don't worry you can debt bust this amount too. I've updated your total xxx

idristhedragon

Right I think my proper LBM has finally arrived!! I feel a bit tearful TBH- I have just opened my Cap One statement and the interest is HORRIFIC> I have been ostriching it for the last 2 years or so and the balance is £1760.10 as of October. the interest alone is £50+ a month. I am thinking of cancelling the DD for the £88 which goes out each month and setting up a standing order for £150 instead? My Vanquis is £382 and creeping up. I think that is my priority TBH and I am aiming to pay off the whole thing by the end of Jan. Starting with £100 next week,I was going to split it 50/50 with Cap one so £50 each but Vanquis needs to be £0 ASAP.
I owe £72.62 to Simply Be, £89 to Littlewoods (lowest priority due to 0%) so all in all its £2,303.72
Tbh I could actually cry at this second BUT I am thinking positive and it is 23 £100's, or 46 £50's :j
I may try and tackle it £50 at a time and cross the off.

I must admit I am very excited at the thought of all my incomings going on getting rid of this bloody millstone, Far more exciting than a trip to Primark for more scarves/jeans.

edited to say the total was £2321.54 but I paid of 17.82 this am

mf0u1098

idristhedragon wrote: »

Right I think my proper LBM has finally arrived!! I feel a bit tearful TBH- I have just opened my Cap One statement and the interest is HORRIFIC> I have been ostriching it for the last 2 years or so and the balance is £1760.10 as of October. the interest alone is £50+ a month. I am thinking of cancelling the DD for the £88 which goes out each month and setting up a standing order for £150 instead? My Vanquis is £382 and creeping up. I think that is my priority TBH and I am aiming to pay off the whole thing by the end of Jan. Starting with £100 next week,I was going to split it 50/50 with Cap one so £50 each but Vanquis needs to be £0 ASAP.
I owe £72.62 to Simply Be, £89 to Littlewoods (lowest priority due to 0%) so all in all its £2,303.72
Tbh I could actually cry at this second BUT I am thinking positive and it is 23 £100's, or 46 £50's :j
I may try and tackle it £50 at a time and cross the off.

I must admit I am very excited at the thought of all my incomings going on getting rid of this bloody millstone, Far more exciting than a trip to Primark for more scarves/jeans.

edited to say the total was £2321.54 but I paid of 17.82 this am

Oh Idris I am giving you such a big hug right now!!! Not just because you feel like crying but also because you've stayed so positive and already thought of the best way to tackle this. I'm so proud of you. You will definitely be able to get rid of this debt, I have NO DOUBT!!! If you don't mind me asking, is the interest rate the same on CAP ONE as Vanquis? xxx

kerri_dfw

idristhedragon wrote: »

Right I think my proper LBM has finally arrived!! I feel a bit tearful TBH- I have just opened my Cap One statement and the interest is HORRIFIC> I have been ostriching it for the last 2 years or so and the balance is £1760.10 as of October. the interest alone is £50+ a month. I am thinking of cancelling the DD for the £88 which goes out each month and setting up a standing order for £150 instead? My Vanquis is £382 and creeping up. I think that is my priority TBH and I am aiming to pay off the whole thing by the end of Jan. Starting with £100 next week,I was going to split it 50/50 with Cap one so £50 each but Vanquis needs to be £0 ASAP.
I owe £72.62 to Simply Be, £89 to Littlewoods (lowest priority due to 0%) so all in all its £2,303.72
Tbh I could actually cry at this second BUT I am thinking positive and it is 23 £100's, or 46 £50's :j
I may try and tackle it £50 at a time and cross the off.

I must admit I am very excited at the thought of all my incomings going on getting rid of this bloody millstone, Far more exciting than a trip to Primark for more scarves/jeans.

edited to say the total was £2321.54 but I paid of 17.82 this am

Take a deep breathe Idris it's only scary for the first few seconds, you've done really well in wanting to tackle it.

I'm not sure if it would help, but because my vanquis only charges me interest if I don't pay it off in full each month I'm paying freemans, wescott and my grocery spend using that instead. It means I have to wait a few days from payday for the money to go on there, then I can pay the bills. Is this something you could do to stop the interest there? I'm assuming your interest is about £20 like mine?

Keep being positive that's great you can get the jeans when you're debt free whoop whoop

idristhedragon

Oh thanks guys! I love the support of you guys- we dont even know each others names,genders, races, lifestyles, jobs but the support is so heartfelt and cmonforting *wells up*
I am armed with a marmite sarnie, a diet coke and some ready salted crisps and feel a lot better (sarnie on white soft sliced "plastic" bread too- bad for diet but soooooo good for comfort)
TBH Im a bit Maths phobic and dont really understand the interest etc *shame*
I will have a look at the statement and see if I can work it out. Can you explain it for idiots for me please. I need to ring my manager with my (pitiful) figures for the week now so will be back in half hour or so.
Oh, and I can see the top of my desk now so my sorting is coming along....albeit slowly

kerri_dfw

idristhedragon wrote: »

Oh thanks guys! I love the support of you guys- we dont even know each others names,genders, races, lifestyles, jobs but the support is so heartfelt and cmonforting *wells up*
I am armed with a marmite sarnie, a diet coke and some ready salted crisps and feel a lot better (sarnie on white soft sliced "plastic" bread too- bad for diet but soooooo good for comfort)
TBH Im a bit Maths phobic and dont really understand the interest etc *shame*
I will have a look at the statement and see if I can work it out. Can you explain it for idiots for me please. I need to ring my manager with my (pitiful) figures for the week now so will be back in half hour or so.
Oh, and I can see the top of my desk now so my sorting is coming along....albeit slowly

The basic maths for c/c's is that if you pay them in full each month then you don't get charged interest. It's only if you leave debts on them that you get charged interest. Soooo if you have bills that accept c/c's without charging you for their use, then whack that on the c/c, especially high interest things like catalogues.
The only problem comes if you ring up balances on the c/c that you can't clear.

My Example:
£500 c/c limit
£250 grocery/ me money
£50 freemans
£90 wescott
£90 car tax

I just have to remember to go the extra 3 days it takes to pay vanquis from my payday and not use my debit card in between for grocery/me money.

Hope that helps.

idristhedragon

But Id need to clear the existing balance or Id never be able to pay it off in full. Or does it mean for example Ive spent about £130 on my Capital One in the last 2 weeks so if I pay off THAT 130 I wont get charged for that? Im sorry Im so dense- maths really makesme want to cry