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Debt Free Day/Year
greytdog_2
Posts: 288 Forumite
probably a silly question but how do you all work this out? - I am on a debt management plan via the CAB and at no point has there been any talk of an end date. I know mine is going to be a loooooonnnggg time away and at the moment i am too ashamed to admit publically what we owe but it would be nice to when roughly the light at the end of the tunnel might be visable!
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Comments
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Try the snowball at https://www.whatsthecost.com - put in your debts with aprs, minimum payments & the amount you can pay each month and it will work it out for you - only problem is that if you're on a DMP you might not know how much is going to each creditor every month, and because they'll be splitting it by percentage rather than paying off the highest apr first it could take you longer.Total Debt 13th Sept 2006 (exc student loan): £6240.06 :eek:
O/D 1 [strike]£1250 [/strike]O/D 2 [strike]£100[/strike] Next a/c [strike]£313.55[/strike]@ 26.49% Mum [strike]£130[/strike] HSBC [strike]£4446.51[/strike]@15.75%[STRIKE]M&S £580.15@ 4.9%[/STRIKE]
Total Debt 30th April 2008: £0 100% paid off!
PROUD TO [STRIKE]BE DEALING [/STRIKE] HAVE DEALT WITH MY DEBT
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the DMP im on means that interest for the time being has stopped so dont think APR applies - I know they can change this though. Will it work if i put in my total debt and divide it by how much i pay a month? Or at least be a rough guide?0
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