Pay ALL your debt off by Xmas 2015!

parsniphead

Fantastic nolongerindenial.:j

kirstydriver

nolongerindenial wrote: »

Well, today I've had the shock of my life, £1133.78 refund I got denied in 2009 when applying for a ppi refund 5 years ago :shock:

Cheque should be here in 28 days :th:

That will be a large chunk of my debt paid off :money:

Well done! This makes me want to reapply! Thanks!

SpagBol

nolongerindenial wrote: »

Well, today I've had the shock of my life, £1133.78 refund I got denied in 2009 when applying for a ppi refund 5 years ago :shock:

Cheque should be here in 28 days :th:

That will be a large chunk of my debt paid off :money:

Wow that's brilliant well done!

Did you have to reapply or complain to the ombudsman or did you just hear out of the blue?

minmac

Feb so far £692 paid. Still have a few more bits to pay.
Will update total/sig etc at end of the month when its all in.

Who uses the whatsthecost snowball?? Been using it the past few months and find it really useful. I'm trying to stick to the plan too. I selected the pay off highest interest rate option. Working well so far!

If only I didnt have soooo many creditors, hmmmmm

amr547

Hooray, just checked the letter and this month is my last payment! So we'll be down to just the car. Need to find out if I can make overpayments and if it'll count towards the final payment??

Pablosammy

I'm having a bit of a dilemma. I've been saving money instead of overpaying, and then offsetting them to get my debt total. The idea was to have a decent amount in my current account in case I decided to buy a house in a year or so.

I'm tempted just to keep a bit aside as an emergency fund and start overpaying. Benefits - no temptation to spend it, no illusion of having loads of money, cheaper in the long term. Downside - will have to wait a bit longer before buying a house.

Any advice or encouragement appreciated.

amr547

Pablosammy wrote: »

I'm having a bit of a dilemma. I've been saving money instead of overpaying, and then offsetting them to get my debt total. The idea was to have a decent amount in my current account in case I decided to buy a house in a year or so.

I'm tempted just to keep a bit aside as an emergency fund and start overpaying. Benefits - no temptation to spend it, no illusion of having loads of money, cheaper in the long term. Downside - will have to wait a bit longer before buying a house.

Any advice or encouragement appreciated.

I'm int he same position, I have enough money to pay off my total debt now but because we want to move its really hard to actually use it. It would take longer to re save than it would to pay it off, I think! So it's hard, I jnow people say you are better off paying the debt but argh.

chocoholicqueen

Loan payment has been paid plus a small skim of my account, i'm so close to my 10% but things are really tight at the moment, so i'm going to have to wait.

#055 £988.21/£10,000

Rachiedabbler70

Pablosammy wrote: »

DRUMROLL PLEASE...

£117,819.50

:T:T:T:T:T:T:T

That's almost exactly what was paid last year - just £27.09 between them! January has a reputation as being long and tough, but the DFBXmas payments typically crash in February for whatever reason. So this is a call to KEEP IT UP! You're all doing brilliantly!

That's a fantastic amount - I've been AWOL for 2 weeks so just catching up on all the posts - not read February yet, but January very positive - well done all. I did miss updating for the last week of Jan so I am now at


#058 £1,713.14/£10,400 (16.47% paid)


Doing my bit to prevent the February dip.:)

Rachiedabbler70

Pablosammy wrote: »

I'm having a bit of a dilemma. I've been saving money instead of overpaying, and then offsetting them to get my debt total. The idea was to have a decent amount in my current account in case I decided to buy a house in a year or so.

I'm tempted just to keep a bit aside as an emergency fund and start overpaying. Benefits - no temptation to spend it, no illusion of having loads of money, cheaper in the long term. Downside - will have to wait a bit longer before buying a house.

Any advice or encouragement appreciated.

Hi Pablosammy - difficult one - personally I would pay everything else off before thinking about saving for a house just because I think mortgage lenders like it when you have no other debt and you might get a better interest rate. If you have debts with interest rates as well you will also save money by paying early subject to any early repayment charges. I don't have any money set aside I just decided to hit the debt and get rid of it once and for all, but I know it is a risky strategy. Good luck deciding.:)