The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

rdchick

Thank Jemma! I will give them a call and see what they say! xxx

HelenPie

mf0u1098 wrote: »

Oooooooh sneaky, I like it!

So if I pay my loan off today when there is still 26 months left then if I left all but the last DD payment to come out then will they just take that next month and my loan is over...? xxx

mf0u1098 wrote: »

oh actually I've just remembered that in the small print it says that I cannot overpay my loan, if I want to pay it off then it must be paid off in full...

I think that's how it used to work but that's a shame if you're not allowed. It may be worth asking - sometimes there are ways around the small print if you ask nicely

rdchick wrote: »

Ok so what you're saying is (sorry my brain is like mush today) that I can pay off my loan early but there might be a charge of 2 months interest... so that's like £40 yah? It is indeed a downward scale one, ie all the interest was piled on top... I took out the loan for £3500 in 2010, the current balance is £3323.47 so do I take that as the figure I am going to be paying off (ie: 7x £500) or should I ask the bank what it would be if I was to pay off all my loan by August/September? so I can work out how long it will take to pay off? xxx

I would try using the snowball calculator http://www.whatsthecost.com/snowball.aspx to get an approximation - just look at the interest payments in the two following months and add it to the outstanding balanced expected when you want to pay off, if you know what I mean. It will only be an approximation but better than a guess

jakes-mum

OMG im so excited :j :j my loan payment has gone out today so my total left is £901 :eek: we have had a loan since we moved in together 11 years ago and have always either renewed it with out 'new' debts or paid it off when we moved house with money out of the sale and then just racked it all back up we have never actually finished a loan I feel like im really getting somewhere!

New Total is: #16 £2385.81 / £8806.89 27.09% :T:T:T:T

oh and always one to go against the grain, I work my % out as 100 / total debt * total paid :rotfl:

mf0u1098

HelenPie wrote: »

I think that's how it used to work but that's a shame if you're not allowed. It may be worth asking - sometimes there are ways around the small print if you ask nicely

Speak to them nicely?! Me and HBSC have a long and unfriendly relationship where I have told them on numerous occasions the great delight I would take in closing my account at the first possible opportunity as I hate the blood sucking crettins for always kicking me when I'm down and being utterly imcompetent!!! They'd think I'd been possessed or had been abducted by aliens if I was suddenly nice to them!!! :rotfl:

mf0u1098

jakes-mum wrote: »

OMG im so excited :j :j my loan payment has gone out today so my total left is £901 :eek: we have had a loan since we moved in together 11 years ago and have always either renewed it with out 'new' debts or paid it off when we moved house with money out of the sale and then just racked it all back up we have never actually finished a loan I feel like im really getting somewhere!

New Total is: #16 £2385.81 / £8806.89 27.09% :T:T:T:T

oh and always one to go against the grain, I work my % out as 100 / total debt * total paid :rotfl:

THERE'S ALWAYS ONE!!!! :rotfl::rotfl::rotfl:


Terrific news on your loan by the way!!! xxx

mf0u1098

Oh forgot to tell you the great news... I've lost 2.5lbs in 4 days!!! I've been a good little girl and eaten salads and healthy stuff. Big difference is that I've not eaten any bread so will try and keep this up. I'm super happy as I can actually tell the difference with my clothes even though it's a relatively small amount so it's given me huge motivation to continue.

I really hope it doesn't go pear shaped over the weekend though as I struggle soooooo much not eating rubbish food...

HelenPie

mf0u1098 wrote: »

Speak to them nicely?! Me and HBSC have a long and unfriendly relationship where I have told them on numerous occasions the great delight I would take in closing my account at the first possible opportunity as I hate the blood sucking crettins for always kicking me when I'm down and being utterly imcompetent!!! They'd think I'd been possessed or had been abducted by aliens if I was suddenly nice to them!!! :rotfl:

OK, I had no idea it was HSBC! They are horrid. They used to call me up and have me in tears many a day after I graduated. Horrid horrid people. Best pay back asap and give them as little interest as possible

jakes-mum wrote: »

OMG im so excited :j :j my loan payment has gone out today so my total left is £901 :eek: we have had a loan since we moved in together 11 years ago and have always either renewed it with out 'new' debts or paid it off when we moved house with money out of the sale and then just racked it all back up we have never actually finished a loan I feel like im really getting somewhere!

New Total is: #16 £2385.81 / £8806.89 27.09% :T:T:T:T

oh and always one to go against the grain, I work my % out as 100 / total debt * total paid :rotfl:

Amazing news!! Well done :j:j:T

HelenPie

mf0u1098 wrote: »

Oh forgot to tell you the great news... I've lost 2.5lbs in 4 days!!! I've been a good little girl and eaten salads and healthy stuff. Big difference is that I've not eaten any bread so will try and keep this up. I'm super happy as I can actually tell the difference with my clothes even though it's a relatively small amount so it's given me huge motivation to continue.

I really hope it doesn't go pear shaped over the weekend though as I struggle soooooo much not eating rubbish food...

Another well done is in order then :T:T Everyone seems to be on a roll at the moment :A

jakes-mum

OOoooo well done Mf0u!! forgot to mention I have claimed another £5 amaz*n voucher from swagb*cks and am 200 points toward the next love it when I qualify for the surveys

mf0u1098

HelenPie wrote: »

OK, I had no idea it was HSBC! They are horrid. They used to call me up and have me in tears many a day after I graduated. Horrid horrid people. Best pay back asap and give them as little interest as possible

I HATE THEM!!!! The only reason I still have an account with them is because of my graduate loan... The day that is paid off will be without a doubt the happiest day EVER!!! Instead of ending in Aug 2014 then I'm hoping for it to be gone by October this year at the latest as I still have £8k to pay off yet so need to really ramp up the savings!

HelenPie wrote: »

Another well done is in order then :T:T Everyone seems to be on a roll at the moment :A

You've just reminded me that I have a mini-chocolate roll in my drawer. Drat! :rotfl: