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

Lemon_Tree

kerri_dfw wrote: »

I'm so confused,I have money in my account that isn't going towards a pot or bill, it's just sat there singing away at me and I've no idea what to do with it. I think I need to sit down and do a meal plan, then a budget plan that I will actually stick to. Otherwise the £400 odd sat there will just get frittered away I'm sure. It's so weird not having anyone to overpay,I can't overpay my last creditor as I want to lump sum them.

kerry i had exactly the same thing this month, i know i would waste the money that i have left over in the budget so i've squirreled it away into a savings account and i've allocated it a *purpose* so that i don't dip into it. It's all mind games isn't it!

Calling14

Not a lot being paid off another 42.11. Still in the right direction
#179 1158.86/12224.35. Just seems a long way to go at the moment.

mf0u1098

I got paid today, I can't wait to work out what I can pay off this month! We're all doing brilliantly!!! xxx

karenann76

So here is a dilema for you! I have asked my OH about this and he just said whatever you want to do...very useful response!!!

We have a Lloy*s loan which is defaulted and with a collection agency (not sold on). There is no interest on it. I spoke to the agency today and they will knock it down from 6780 to 4080 as a final settlement, saving us 2700 on the debt. Because I get paid quarterly I will be able to pay that at the end of March but it will wipe me out for the next 3 months so we will have to live off the OH wage which just lately has been a PITTANCE (self employed)! It will stay on OH credit file as patially settled for 6 years but we have defaulted anyway and NO ONE would lend us any money even if I wanted it, which I don't.

So the question is, do I pay the loan and live on the breadline for 3 months till my next payment or do I make an arrangement which would be for the full amount. If I pay it we will save 2700, more than if I pay a debt which has interest being charged and it is our biggest debt and it would bring us below the 10k mark, both MAJOR psychological boosts. BUT it will stay as partially settled on the file and we will be seriously skint for 3 months.

What do you reckon?

PedroMatias

HelenPie wrote: »

Hope you're ok jakes-mum.
We'll be thinking of you. Come back soon.

I came to have a mini rant but no seems even more insignificant now....I mis-timed a payment so went £1.14 overdrawn for 1 night now got a £22 charge on the way :mad::(

Call them up and politely explain the situation. This is the sort of thing they'll waive as a 'goodwill gesture'. Worth a pop.

PedroMatias

karenann76 wrote: »

So here is a dilema for you! I have asked my OH about this and he just said whatever you want to do...very useful response!!!

We have a Lloy*s loan which is defaulted and with a collection agency (not sold on). There is no interest on it. I spoke to the agency today and they will knock it down from 6780 to 4080 as a final settlement, saving us 2700 on the debt. Because I get paid quarterly I will be able to pay that at the end of March but it will wipe me out for the next 3 months so we will have to live off the OH wage which just lately has been a PITTANCE (self employed)! It will stay on OH credit file as patially settled for 6 years but we have defaulted anyway and NO ONE would lend us any money even if I wanted it, which I don't.

So the question is, do I pay the loan and live on the breadline for 3 months till my next payment or do I make an arrangement which would be for the full amount. If I pay it we will save 2700, more than if I pay a debt which has interest being charged and it is our biggest debt and it would bring us below the 10k mark, both MAJOR psychological boosts. BUT it will stay as partially settled on the file and we will be seriously skint for 3 months.

What do you reckon?

For that saving, beg borrow or steal to get it paid at the reduced rate. Obviously don't let yourself get caught short, but I'd be bending over backwards to save £2.7k.

loubie_lou

Think most of us are having a crap few days. I certainly am. :mad:

Can't believe how everything has come at once, so many bills :eek:

I'm off to Bristol for my sisters hen weekend. It will be good but can't afford to go crazy.

Thought about raiding my savings but you can't touch it for a year, i really need it though

karenann76

Yeah, thats what I was thinking but the OH wages have been so rubbish for the last three months I have been faltering. Will prob pay it off.

[Deleted User]

Woooooo doin the pay in pay out day dance :j

Paid off this morning:-

195.00 Very
207.00 MBNA
100.00 Santander

These ones to come out by DD:-

160.00 Personal
30.00 SAAS
131.19 Hitachi

So this means my new totals are

£6,309.79/£8,531.47

:T

Dxxx

[Deleted User]

Oh & my total debt is now under £7k eeeeeeeeeeeeeeeeeeeeeeek

9 more payments until we have ZERO debt

Dxxx