DireDebts

downsizer3

Good attitude - do you have a spreadsheet for keeping account of what you've paid off / interest rates etc?
Do you want to put a list up for us?Maybe we can make some suggestions?

Igamogam

DireDebts wrote: »

Yesterday I sold my first gadget on Ebay site and money will go to pay a debt as soon as it is in my bank account, Ebay and Pay Pal tells me this will be a while. I don't really understand this and need advice so will call a number today.

Good luck with that one - ring them 3 times and you will get 3 different answers. Do you have a new account with Ebay/PP maybe thats the delay otherwise PP should only take 2 hours to transfer the money

DireDebts

I have read here that I must pay my higher interest debts first and do the snow ball calculation. I have a lot of space available on no interest credit cards so I plan to fill this with interest debt charging. My Excel spreadsheet tells me this will leave £37895.23 charging the interest. I hope the sale of the car will pay a large sum of this amount, my friend thinks perhaps £27000. I am selling the gadgets to make more money to reduce the charged debt.

I read here all the time and am learning more than I thought possible. This site is the best

DireDebts

Yes my Ebay and Pay Pal account is new and now I think I understand that they hold the money until they see I am honest. The advisor thinks if someone gives me the feed back, I get the money sooner, I think perhaps two weeks. I will sell some more gadgets and get the feed back then the money comes to pay the interest charged debts

Adoremouse

You're doing really well already! Best of luck with it

alldownhill_2

Yes, E-bay, or rather pay-pal will 'hold' your payment until a satisfactory feedback is recieved or if not a time spell has passed. It gets quicker the more you sell so sort all those boys toys out & get them on Also with e-bay watch out for those little charges you don't realise like 3 day auction or reserve price, you still have to pay these charges sale or no sale so don't go silly & look out for their free insertion fee's weekends

Oh, almost forgot, hello & welcome to MSE

ps: have you got a bank account linked up with pay-pal, if not do it now, transfers take min 3 working days.

googler

Remember that eBay doesn't just charge you the insertion fee that shows up when you list the item. There's the 'final value' fee based on the selling price of the item to come.... and the Paypal fee, but that gets automatically deducted before Paypal pays you

DireDebts

I have sold another gadget on Ebay and some people are coming to see the car at this weekend, I am hoping for no rain so it looks good and shiny.

I think I have worked out the costs that the Ebay and Pay Pal charge and I estimate it at an approximate 12.5%, does that appear to be a correct calculating?

A big thank you for even more help and advice, you are very kind people indeed.

Colderado

Hi
As a regular ebay seller, I tend to say the rule of thumb is ebay will take 10%, paypal then takes 20p plus 3.4% - the ebay fee will vary from catergory to catergory.
Type in to google ebay and paypal calculator, plenty of free ones out there that will give you a good idea
Best Wishes

DireDebts

I have found the calculator now and have saved it to my folder. I am going to make the calculation as 15% costs so a £100 gadget sold will make a £85 difference to a debt.

A big thank you for your kind help