A Payment A Day - The 2012 Challenge!

downnotout

Morning all, another £3.50 for me today. day 6/100 its going slowly.

Erme

Yesterday's total was a modest £376.58 but still...small beginnings :j

I don't know what to pad? My ebay monies or my loan monies? Ebay monies cleared yesterday but one cancels the other out (IYSWIM) cos like ebay monies goes on OD but yet loan comes out of OD...

Pending no returns on ebay I have a new debt free date of 10th July :money:

Anyone any idea how many weeks that is?

E

downnotout

5 weeks 3 days

dankosheemo

£1 for me today please, Erme!

A question... are banks allowed to 'cancel' your overdraft facilities, charge you 20%APR a month on the now old facility you are using and then change your account to a normal one...? I can't afford 20%APR Anyone have any suggestions with what I can do with it? Muchos appreciated you amazing MSE savy peoples. Love danko xx

P.S. sashanut, I have left my voice at Shedingley! :rotfl:

Frodobaggins

£2.00 PAD for me today please Erme.

Siouxsie32

£1.82 from me today please Erme

sashanut

Hi all :j

Popping in to PAD - £2 coin to VW campervan moneybox plz Erme - tkyou!!

dankosheemo wrote: »

P.S. sashanut, I have left my voice at Shedingley! :rotfl:

LOL Danko we didn't half enjoy this one on the telly!!! Awesome result !!!

Eager_Elephant

dankosheemo wrote: »

£1 for me today please, Erme!

A question... are banks allowed to 'cancel' your overdraft facilities, charge you 20%APR a month on the now old facility you are using and then change your account to a normal one...? I can't afford 20%APR Anyone have any suggestions with what I can do with it? Muchos appreciated you amazing MSE savy peoples. Love danko xx

Unfortunately Danko banks are allowed to cancel your overdraft - it's in the terms and conditions.

Have you tried to speak to them about it? Some banks will let you reduce by a set figure per week until you are at £0 thus preventing lots of fees/interest.

Is the 20% APR per month because it is a set fee per day and your overdraft is quite small or are they really charging 20% APR every month?

How much is your overdraft? Which bank are you with? Is there anything you can sell to clear it quicker?

Eager_Elephant

Sorry have not been on in ages.

Thanks for the replies about Barclays.

In the post the next day we got a letter to say that DH's account had been terminated.

DH quit his job and has another one paying slightly less (less hours) so he agreed to a self-run DMP for himself. Last month we withdrew all money from his overdrawn account and put it in to his new account.

I sent off all the letters to his debts including the o/d and then 2 weeks later we realised he was due some more money from employer :eek: and they were unlikely to pay into a new account as he had left on bad terms :mad:

Went to bank with DH to do 'first right of appropriation' and I have to say that Barclays were fantastic :T- they let us withdraw all of DH's wages on the day they went in so it meant the bills were paid :T

Hope to be back on board soon as now DH is only paying token payments he can afford to cover his outgoings without me having to pay for everything and have no money for PADing :j

dankosheemo

Eager_Elephant wrote: »

Unfortunately Danko banks are allowed to cancel your overdraft - it's in the terms and conditions.

Have you tried to speak to them about it? Some banks will let you reduce by a set figure per week until you are at £0 thus preventing lots of fees/interest.

Is the 20% APR per month because it is a set fee per day and your overdraft is quite small or are they really charging 20% APR every month?

How much is your overdraft? Which bank are you with? Is there anything you can sell to clear it quicker?

Thanks EE My account's with HSBC and what I found out when I spoke to a lovely man yesterday was that my graduate account is expiring (I get 2 years) hence the reason for the cancellation of the OD facility. Can't do anything for me unless I want to upgrade my account fot £12 a month which would reduce the interest rate to 17.9% - didn't see the point myself at £12 pcm... It's a £2k OD facility and I live in it, literally to the penny as I use any spare money to pay off other debts. I have a loan finish next month so that'll free up some cash but just feel like it never ends!! I've also got a signed Bon Jovi shirt I could sell at a push... but not much else. Lottery win any time SOON would be most welcome!! :rotfl:

Anyhow, a whole £1 for me please, Erme.

Hope you all enjoy the long bank 'oliday weekend! Love danko xx