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

phoebesmum2105

Finally made a start xxxx payment off first debt, and got stuff on e-bay which ahs bids, yeh xxx sorry as well got my total wrong, not £6,500.00 actually £6,700.21



Sealed pot challenge ??
£1.00 for 365 days £5.00/£365.00
# 207 - Debt Free by Christmas 2012

£34.21/£6,700.21

CW2

Hi all and a Happy New Year's Eve,

Loan repayment direct debits have cleared today so paid another £227 off the debt:

#003 £4227/£12,459

Have a good night everyone - here's to 2012 :beer:

loubie_lou

Happy new year everybody!

Who is staying in? I am as I am working away, just going to have a few glasses of wine with my client and watch a bit of tele :j:j

Loves xxxxxxxxxxxx

CoupsRus

i would like to join, can you please add me in?


Dh and I have loads of debt and can't pay it off in one year but would like to try for £5,000.

I have a question though, say your minimum payment is £250 of which £100 is interest, are we including that amount in paying off debt or only the £150 that actually lowers the balance?

Thanks for starting this challenge

DorsetGirl_2

CoupsRus wrote: »

i would like to join, can you please add me in?


Dh and I have loads of debt and can't pay it off in one year but would like to try for £5,000.

I have a question though, say your minimum payment is £250 of which £100 is interest, are we including that amount in paying off debt or only the £150 that actually lowers the balance?

Thanks for starting this challenge

Welcome to the challenge :wave:. I always use the amount I have paid off the debt.

rictus123

Wow im 5.27% paid off before the end of the year....fantastic!!! Hopefully get above 25% mark by the end of Febuary....

CoupsRus

DorsetGirl wrote: »

Welcome to the challenge :wave:. I always use the amount I have paid off the debt.

Thanks, I think that is what I will do too.

recurrent-ostrich

DorsetGirl wrote: »

Welcome to the challenge :wave:. I always use the amount I have paid off the debt.

I use actual balances, so the amount that's taken off the balance after interest, so if I pay £250 but £100 is interest, then I only count £150 in my total.

camuk81

I has the same problem when I started, I have an excel sheet which works out the amount of intrest and each month I can see how much I have paid and how much the intrest is each month. Very very geeky

Pie

Hi everyone,

BIG thank-you to Jemma for starting this new thread, it's ace and will keep us all on track for 2012! :j

Well done to everyone who has made payments over the last couple of weeks, I'm going to see if I can make more next week after my January DDs have cleared.

Hope you all have a great NYE, staying in with the OH (and being very MSE :rotfl:) due to sniffles so hope some of you have a wilder time!
Here's to an amazing, debt-busting 2012 :beer: