Pay ALL your debt off by Xmas 2015!

rubywhatashmoo

pinkgiraffe2014 wrote: »

Have just made another payment to the nxt account. This is now paid off in full!!! Can't quite believe it tbh. :j:j:j

So #115 = £607.94/4229

Yay well done!! And still so early in the year! :beer: Don't they have a pretty horrendous interest rate on them?

rubywhatashmoo

cutiepieabf wrote: »

well the minimum payment on cc at moment is £230. The monthly payment on loan would be £160 - but that doesnt cover my whole cc balance - i would still have to pay min payment on rest of balance on cc (or min payment on cc if i balance transfer). so potentially it may not save me anything per month, but the cc will be gone in 5 years through the loan.
the APR does seem very high though. i think i will look out for a better loan or perhaps a 0% interest cc that will give me a limit that will cover my whole cc balance.
does that sound better? i am also partaking in the 'Make £10 a day' challenge, making and selling items through ebay, etsy, etc, and all profits from this will be going straight towards cc, instead of only paying minimum each month, so hopefully it will chip away a bit better in the meantime.
Not a got a great credit score which doesnt help.

thank you all for your help :T

The APR on that loan is unbelievable! I would definitely advise against taking it out at that rate. Do you only pay the minimum from your CC now as that's all you can afford or you've just not been trying to pay it down as such? It might be worth posting an SOA or at least playing with your figures in the snowball calculator and see if anything from those makes things a bit clearer

pinkgiraffe2014

rubywhatashmoo wrote: »

Yay well done!! And still so early in the year! :beer: Don't they have a pretty horrendous interest rate on them?

Yes they do. Not sure what it is off the top of my head though. I've had the account at least 10 years and I think I've only ever cleared it once before. That's bad isn't it!

I hope I can continue with this enthusiasm for the next 6 months or so and I could be debt free. I won't have quite as much free money some months but hopefully enough to make a dent in my figures!

I'm looking forward to payday now, especially after today's extra debt payment!

rubywhatashmoo

I think I've only been out of my overdraft once in the last 10 years and it wasn't for very long so am very much looking forward to seeing the back of that!

IrishRose12

Not been on much but still trying my best to get this debt shifted. Have paid another £40 off since I was last on, my pay yesterday wasn't as good as I was expecting, so need to sort that out when I get back to work next week.

As of today I stand at: #066 - £140/£1700

mossy

Congratulations Mat Lock!! :T

I've made my regular monthly payment of £80 and sold something so I'm paying an extra £15 off the card too.

New balance: £100/£2000 5%

GunWharf

No Lottery win tonight so still working to paying the debts off!

Update here from #174

£2669 / £19,376

Hope you are all ok out there. Been lucky this month as invoices have cleared so it looks a fantastic month but money is coming in from catches in December.

samcornfield

#136 £100 paid off today. Only £7900 to go!

SpagBol

Well done everyone, keep it up! We are SO skint until payday, weds this week I think.


A DD has come out:


£506/£44,000


Over 1% paid woo :j :j

amr547

My payday is Tuesday but oh got paid on Friday so luckily I'm not too skint. I am actually going food shopping by myself as oh is terrible for chucking extras in the trolley, much easier without him there!!

So, this month we have to save aside as much as poss....The Mot, car insurance and tax will all be at the end of February so although we still have one more payday it's a big chunk and need to offset the impact as muchc as possible! On the bright side it will be done for another year :-) then we can tackle the car payment.....