The "Pay ALL your debt off by Xmas 2012" challenge - PART 3!!!

sydneybean

well now there is no football or tennis to distract me i really need to get my bottom into gear and really start moving more of this debt. have sent off a couple of ppi claims although not hugely hopeful but will see.

got my council tax benefit award this morning..... the princely sum of....drum roll..........60 PENCE A WEEK:rotfl:

still it works out about £4 a month so am quite happy with that :T need to go to local leisure centre now as believe if you get ct benefit you get a nice little card giving you reduced prices for swimming etc, that will come in handy for dd during summer hols...

jakes-mum

Bonglecat wrote: »

Sadly I also took out one of those with profit plans for 15 years but only for £5 per month, I had paid in £900 so when it matured 2 years ago I figured money back plus profits so that would be over a grand, right? Wrong I got back £640 :eek:. When I got ready to complain I checked over the small print and I found I only get back 1/2 my payments plus the annual bonuses. In the old days of profits being sky high this would have been fantastic but these days not so much. That's the trouble with these long term plans the financial markets change so much in those 15 years as to make these worthless.

I don't want to be a "downer" and I really hope your plan is different to the one I got lumbered with, but I would warn you not to get your hopes up too much until you actually get your maturity figures.

No, No I like people to keep me grounded Mine was one that started at £20 a month and then increased by 20% every year for 5 years until you got to £40 a month then you paid that for the remainder of the term.
Now im sure I read all the bumpf (as is my nature even at the age of 19) and im sure it said you were at least guaranteed the money you paid in back :think: It was through Axa if anyone else who took one used the same company. I suppose at the end of the day I just have to wait and see what comes in the post, just hope I havent got the year wrong that I took it out as DH will not be amused if my birthday comes next year and no cheque lands on the mat :rotfl:

jakes-mum

Well after worrying myself to death about this bloomin Axa policy I decided to ring them and talk to them about it. If I cash the thing in today I would get a payment of £6900 (ive paid in approx £5520) if I leave it to run for the remaining 22 months (I was wrong it matures in 2014 ) they gave me a [STRIKE]guesstimate[/STRIKE] projection of £8450 at 4% or £9030 at 8% (whatever the heck that means )

So ive asked him to send me a letter telling me exactly how much ive paid in and the forms to surrender the policy if I want, but im now unsure what to do, do I take the guaranteed money now or hold out for a possible bit more with the understanding it could all go pear shaped :eek:

his_missus

:wave:Hello all!

Hugs to those who need them :grouphug: and well done to those of you who have paid off debts:T

Had a lovely break away but spent too much money, used the CC and have £26 to last me til payday which is a week on Friday - so much for cracking budgeting this month I will prob spend half of that on catfood too.

On a posit ve side, I don't have any more loan repayments to make so when I do get paid, I can put a sizeable amount on the CC to pay off what we've spent on it this month, plus interest plus enough to make a dent but DF by Xmas is looking less likely now

Kerfuffle

jakes-mum wrote: »

Well after worrying myself to death about this bloomin Axa policy I decided to ring them and talk to them about it. If I cash the thing in today I would get a payment of £6900 (ive paid in approx £5520) if I leave it to run for the remaining 22 months (I was wrong it matures in 2014 ) they gave me a [STRIKE]guesstimate[/STRIKE] projection of £8450 at 4% or £9030 at 8% (whatever the heck that means )

So ive asked him to send me a letter telling me exactly how much ive paid in and the forms to surrender the policy if I want, but im now unsure what to do, do I take the guaranteed money now or hold out for a possible bit more with the understanding it could all go pear shaped :eek:

Sorry that this subject is worrying you to death, I feel pretty sick in my stomach whenever the topic raises it's ugly head.

I doubt they'll tell you how much you've paid in, but you've worked that out yourself anyway, and as it stands you're in profit which is better than not. From reading other threads on this topic I think the consensus is to take the money and run and put it into a cash ISA. I don't think the 4% is guaranteed let alone the 8% that they're are projecting.

My concern when I got a surrender value last October was that I wasn't sure if the bonuses would be deducted from the surrender value I was given or not, the fact that I'm in Canada makes it difficult to sort things out, and I only had 16 months to go, so I've stuck with it.

Nobody can tell you what to do, but there's loads of threads on this site all saying much the same thing, take a look.

Sorry to Jemma et al for hijacking the thread.

Kerfuffle

his_missus wrote: »

:wave:Hello all!

Hugs to those who need them :grouphug: and well done to those of you who have paid off debts:T

Had a lovely break away but spent too much money, used the CC and have £26 to last me til payday which is a week on Friday - so much for cracking budgeting this month I will prob spend half of that on catfood too.

On a posit ve side, I don't have any more loan repayments to make so when I do get paid, I can put a sizeable amount on the CC to pay off what we've spent on it this month, plus interest plus enough to make a dent but DF by Xmas is looking less likely now

Hi his-missus,

Good to see you back, and pleased to hear that you've had a lovely break. Shame you've used the CC but needs must, and when you're away you don't want to spoil it by denying yourself something.

Just pick yourself up, plough on and tighten your belt until pay day, and you can keep me company next year too.:)

mf0u1098

Hello everyone, not been well this weekend, think I got too much sun on Saturday!

Anyway, I need your advice... It's not debt/money related though...

Basically I was feeling pretty rough on Saturday but my friend (who I've known for 15yrs) was coming up to see his folks for the weekend and so we'd planned to meet up. I haven't seen him for 6-7 months as he lives in windsor and is pretty busy (he was the one that ran the 100miler in 22hrs 45mins...) Anyway, to cut a very long story short, I was driving and we went to the Trafford Centre, ate a nice meal then played pool and had a wander around the amusements etc for a laugh. All the time he was being a bit touchy feely (more so than usual) and I tried to politely get out of these situations. However....... at the end of the night I drove him home and.... he kissed me!!! Like properly, not just a peck!!! I then drove home thinking "oh god he just kissed me, oh god he just kissed me, oh god he......". He then sent me a lovely text saying he'd tried to pluck up the courage after years of wanting to and wants to see me again. I don't want to hurt him but I've never liked him in that way. He's one of my closest friends and I really admire him a lot but there's just no spark there for me. Sometimes I guess I'm just too bl00dy picky!!! Here is a guy with no debt, great to get on with, his family are lovely and I've known him for 15 yrs...What is wrong with me that this is not enough!!!!!! I need to tell him that it's never going to happen but it's going to be so awkward...


Anyway, enough of my tale of woe... Well done Recurrent-Ostrich!!!! That is a fabulous milestone(s) to reach!
I'll do a proper update tonight (I'm not going to the running club as I still feel off today) and respond to everyone. Don't write off your chances of being debt free by Xmas yet, you can achieve anything you put your minds to! If you shoot for the moon and miss then at least you'll still end up with the stars. If you really go for it then even if you don't make it then you'll be far further on than if you resign yourself now to not achieving it. Come on peeps, dig deep!!!!

xxx

Kerfuffle

Hi Jemma,

Sorry to hear you've not been feeling too good. It seems a lot of people feel the same recently.

Just to skip to the end of your post, I'm pretty much resigned to the fact that I'll never get a decent job, and therefore am very unlikely to be able to be DFX12, but enough about me

Skipping back to the start of your post, if you're really sure that there's no chemistry between you and this guy then, in my opinion the best thing to do is be straight with him about it. Tell him you treasure his friendship, he's a great guy and that you care a lot for him, and you don't want to hurt him and all that, but that you just don't feel 'that' way about him. If the shoe was on the other foot, what would you like the guy to say to you?

Just so you know, I'm no expert on these matters as I've been with Hubby since I was 17, but there's been a couple of times when I've had unwanted attention

jakes-mum

Kerfuffle wrote: »

Sorry that this subject is worrying you to death, I feel pretty sick in my stomach whenever the topic raises it's ugly head.

I doubt they'll tell you how much you've paid in, but you've worked that out yourself anyway, and as it stands you're in profit which is better than not. From reading other threads on this topic I think the consensus is to take the money and run and put it into a cash ISA. I don't think the 4% is guaranteed let alone the 8% that they're are projecting.

My concern when I got a surrender value last October was that I wasn't sure if the bonuses would be deducted from the surrender value I was given or not, the fact that I'm in Canada makes it difficult to sort things out, and I only had 16 months to go, so I've stuck with it.

Nobody can tell you what to do, but there's loads of threads on this site all saying much the same thing, take a look.

Sorry to Jemma et al for hijacking the thread.

Ahh ty Kerfuffle, when I spoke to the bloke at Axa I asked if there was any fees to come off the figure he was quoting and he said no that was exactly how much I would get. I personally think that I would struggle to get 4% in the next 2 years anyway and when you look at what they are projecting (another £1500 if I go to term) £960 of that is what I would be paying in anyway! Have spoken to my mum and to DH and they both agree that we should just take the money and run.

I have also worked out exactly how much mum paid for me when she took the plan over when I had DS (£864) so deducting that from the money leaves us £6060 which is more than enough to get a new car for me and I can stop panicking that the things going to slip out of gear all the time .

Apologies all for the thread hyjacking, it was kind of DF related and I thought my outcome may help others on the thread who were taken in by Carole Smilie and her pearly whites

Jemma - all I can say about the friend is tell him the truth, that though you care deeply for him as a friend you really dont want to jeapordise your friendship by taking it down a romantic route

Kerfuffle

jakes-mum wrote: »

Ahh ty Kerfuffle, when I spoke to the bloke at Axa I asked if there was any fees to come off the figure he was quoting and he said no that was exactly how much I would get. I personally think that I would struggle to get 4% in the next 2 years anyway and when you look at what they are projecting (another £1500 if I go to term) £960 of that is what I would be paying in anyway! Have spoken to my mum and to DH and they both agree that we should just take the money and run.

I have also worked out exactly how much mum paid for me when she took the plan over when I had DS (£864) so deducting that from the money leaves us £6060 which is more than enough to get a new car for me and I can stop panicking that the things going to slip out of gear all the time .

Apologies all for the thread hyjacking, it was kind of DF related and I thought my outcome may help others on the thread who were taken in by Carole Smilie and her pearly whites

Jemma - all I can say about the friend is tell him the truth, that though you care deeply for him as a friend you really dont want to jeapordise your friendship by taking it down a romantic route

Hi Jakes-mum, thanks for the reply. You've make me think now, maybe I should get another surrender value and have a look at it, as I said previously I wasn't sure whether fees would be taken or not, now you've said that they say not, then I'm thinking I should put this one to bed now, and take the money and run also. I'd really like to be able to give Bank of Mum and Dad a sizeable cheque when they visit later this year.

Plus of course, Jemma will be nearer reaching her million pound goal too. :rotfl: