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

mf0u1098

I wonder if the more loan savvy can advise me... I have £7k left to pay on my loan which I cannot overpay unless I pay off in full. I have a 0% credit card on purchases. Can I pay the loan off with the credit card without incurring charges? xxx

mrsyallop

I have made a very small payment today to make my amount owed £5000. Seemed nice to make it a nice round number.

#238 mrsyallop 3327.54 / 8327.54

jakes-mum

starnac wrote: »

Jakes-mum (do you know my tablet keeps auto changing your DS's name to James? How rude!!!!!!)

Anyway I agree with you. We paid all our little debts off first for the "yay I've paid off another debt" factor but now we're stuck with the biggest one and I get so p'd off as I feel I'm not getting anywhere anymore

James?? How rude :eek: :rotfl: maybe I should change my name to not_james_mum :think:

mf0u1098 wrote: »

I wonder if the more loan savvy can advise me... I have £7k left to pay on my loan which I cannot overpay unless I pay off in full. I have a 0% credit card on purchases. Can I pay the loan off with the credit card without incurring charges? xxx

I think this might depend on how you pay it :think: if you can go online with your loan provider and make a payment it could be viewed as a purchase, if you ring the card company it would be viewed as a balance transfer :think: Think this is one you need to check with your card provider as they are all different with their terms

mf0u1098

jakes-mum wrote: »

I think this might depend on how you pay it :think: if you can go online with your loan provider and make a payment it could be viewed as a purchase, if you ring the card company it would be viewed as a balance transfer :think: Think this is one you need to check with your card provider as they are all different with their terms

Ok now worries, thanks hun! xxx

mf0u1098

I thought I was doing really well on my budget until I've had to pay out sponsorship money this morning to 2 people! Good causes but it's still money I don't really have. Maybe I should have put sponsorship name as HSBC...

My friend is back from Afghan (:j:j:j) I am sooooo glad he's safe and well. Anyway, he's being posted out to Germany for a couple of years so he's having a hello :wave:and goodbye:( weekend in Liverpool. I'm going to go down on Sunday but was wondering whether to just drive there and back or book a hotel :eek: Anyway, he's offered to get a twin room for the weekend so I can stay :j (I've offered to pay half which will still be about £40) but to keep costs down then I'm only going on Sunday as I need to think about food and drink plus my fuel. Hopefully the weekend shouldn't cost more than £70 but that's blown my budget for the week. It is a special trip though especially as he's off to Germany and his girlfriend has just dumped him so he's gutted. I'll just have to get my finger out and ebay like crazy to make up for it or go without towards the end of the month! :eek:

I'm off out tonight after work for tea at a 2 for 1 pub so it'll be relatively cheap. I went on the treadmill last night, only ran 1k but I didn't want to push it and my calves felt quite tight so did some stretching afterwards. I'm hoping that it'll still be light enough to go for a walk after the meal tonight so I've brought my walking stuff and my ipod!

antonia1

mf0u1098 wrote: »

I wonder if the more loan savvy can advise me... I have £7k left to pay on my loan which I cannot overpay unless I pay off in full. I have a 0% credit card on purchases. Can I pay the loan off with the credit card without incurring charges? xxx

Probs depends on the bank. My CC counted loan repayment as a balance transfer. Defo speak to the bank tho, they might consider payment of the loan as a purchase or as a cash withdrawal. Could you use they credit card for all purchases and put the money into savings until you can pay off the loan in full? Tho I suppose with £7k that would take a while.

camuk81

Can the loan company accept credit card payments?

mf0u1098

antonia1 wrote: »

Probs depends on the bank. My CC counted loan repayment as a balance transfer. Defo speak to the bank tho, they might consider payment of the loan as a purchase or as a cash withdrawal. Could you use they credit card for all purchases and put the money into savings until you can pay off the loan in full? Tho I suppose with £7k that would take a while.

I should be able to save up enough to pay it off in full by end of August/September but trying to work out how much better off I'd be if I could just whack the remaining balance on a credit card (taking into account any fees) now rather than wait... If my CC counted the loan as a balance transfer then with the very best deal available of 1.9% then that would cost £133 so wouldn't be worth moving it...

camuk81 wrote: »

Can the loan company accept credit card payments?

Not a clue yet, I'll have to speak to them. I'm just trying to figure out what the saving would be paying it off 4 months earlier than planned. I think my interest portion is about £45 (according to whatsthecost.com) so it could save me an extra £180 ish I think but not sure!

floridafairy

OH God, Trying to save some money decided to colour my own hair today, I am now sitting here with bright orange roots :eek:

choclover

Done a couple of things today, reviewed my spreadsheet as something wasn't quite right and it was bugging me and I finally found out where I was going wrong!

Also made an over payment to barclaycard for £50, I was going to make one next week for £100 but as my statement is due in the next couple of days I thought I would pay some off now so that it covers the interest and I don't get charged an over limit fee (due to the purchase of the carpet on it last week:eek:). DD is due out next week for £14ish (was £64 but was I made a £50 payment last week they reduced the DD amount :mad:). Hopefully they'll still take the DD as maybe its now too late for them to change their minds again, and will make another overpayment next week for the remaining £50!

On another note, received my cap1 statement this morning and totally forgot about the £10 bonus I was due to receive for opening my account :beer:

So have a new total, which is slightly less than what I posted yesterday due to said carpet, but on a positive note, my spreadsheet indicates that I'll meet my target by 121.51% if I manage to stick to it of course!:o

#304 £1,665.88/£5210.12 (31.97%)