The long haul supporters thread...

In_Search_Of_Me

I think you just pay more off - phone and check...!

Happytogetdebtfree

i do all my payments online with egg, i wondered if you had seen an online option to overpay...... il phone them nearer the time lol! i prefer net payments :d cant do with chatting to the companies i am paying i cant say i am over keen on egg but we learn

ltm07

In_Search_Of_Me wrote: »

aww hugs poorbabe - at least youve bitten the bullett and added up and can now more on fully informed, hopefully with some lessons learned along the way? If its any consolation mine is still double yours!! (not a nah nah na nah na fact to be happy with but hope you feel better for it!). Ltm please think long and hard about consoladating - at least with a cc the fact that it is a cc makes you pay it off quicker while with a loan theres no incentive (unless like egg loan you can overpay?)...just very aware that its loans that got me where I was financially and just wish I'd paid stuff off as never did - just spent again...know its hard though but a kicking myself now - the interest on one loan alone is 8000!!!!! Could have got a brand new car with that!

I know what you mean ISOM! The thing that tempts us into consolidating is the fact that we could clear everything in 7 years, but the budget would have to tighten up again, which as we all know some months are nigh on impossible to tighten up. So for the time being at least, we will carry on regardless & some months will be great & some months not so great. We do work very hard, like most of you good people, but the only way to start to get these debts down much quicker is to work even harder. It ain't fun, but if we say to ourselves that we will have a few treats now & then, then the extra hours we put in won't seem as bad. I was thinking the other day about the things that I have wanted in the past & how I worked my butt off to get them & the feeling of sowing the fruits of my labour so to speak & we both are getting into the same frame of mind where we want to work as hard as possible to clear these debts IYKWIM. I remember before I met OH & working 11-12hr shifts 6-7 days a week to save £1,500 to put a deposit down on my first house & I also remember doing the same thing a few years ago to save £2,000 to go & see my Brother in Australia. If I could work that hard for those things, then there's no reason why I can't do it again to become DF! So we know what our goal is, it is to be DF & we are going to work harder than ever to get there!

ltm07

Happytogetdebtfree wrote: »

i do all my payments online with egg, i wondered if you had seen an online option to overpay...... il phone them nearer the time lol! i prefer net payments :d cant do with chatting to the companies i am paying i cant say i am over keen on egg but we learn

I think Egg are quite crafty. I remember clearing an Egg Loan with another loan(the days of going aound in circles:rolleyes: ) & rang them up to clear it. They said that I could have done it online & I said that I couldn't find the option to do that. She said that she would set it up for me to pay it online! So she set it up & I paid it all off. Makes you wonder if they do this on purpose!

Happytogetdebtfree

Morning all just woke up nights must have caught up with me hehe ....anyway im taking it easy today simply because i can hahaha.... great idea itm07ive got a few months of a lot of unsocial hours im going to see what that does to my wage if its eaten by the tax man il be happy not to do them and do something else

poorbabe

Earlier this year I thought about consolidating, yet again, but decided against it. Fortunately it would have been more expensive than my current method of regular loan plus chipping away at the c cards :rolleyes: .

I'm praying that I get a bonus next year so I can use it to reduce the cards, on top of the regular payments and small overpayments that I currently make.

Maybe it's just as well the winter has arrived so my moneysaving efforts aren't too onerous . Mind you I've already started calculating my rent and council tax increase for next year!

ltm07

Hi all! Well not been around for a few days through one reason or another. Been switching finances around to get as much of our OD as possible off that shocking 19.5% AER. Got it down to around £1,500. Sig looks very scary but only because I haven't updated whatsthecost website IYKWIM. Will update tomorrow when wages go in. All the best!!

MargB

Hmmmmm, with all the turmoil on the markets this week, I'm mulling over an 8 year plan to clear all my outstanding debts. I classify my mortgage as a debt as well.

Thinking along the following ....

Years 1-5
rejig mortgage to all parts over the same time period remaining (currently 15 years and 8 years) and reduce the end date to 10 years away. Take out fixed rate for 5 years (prefer fixed rates as I know exactly what to budget for).
Pay off loan over 5 years (already sorted this one out and is now underway).

Years 6-8
Loan will be gone so that money can then be swung into additional mortgage payments, which means I may be able to shave another 2 years off end date. WOuld be able to calculate this as would be due for another fixed rate and can look at it then.

Means my DFM could be April 2016 instead of April 2023. Its certainly something to think about.

I can still enjoy a good quality of life during this time, as long as I cut out buying the rubbish and stuff I don't need. Next year I want to have a bit of a de-clutter of the house and start using ebay to sell stuff. I want to put this money away in a seperate BS account, so I can then use it for something really worthwhile that I'll cherish, such as a really nice holiday somewhere.

Still makes me a long hauler tho' :j and I love it !!!

In_Search_Of_Me

lovely that youre so positive Marg...feeling less so tbh so can you send some my way?!!

MargB

!!!!!!!!!!!! send positive vibes to everyone }}}}}}

To tell the truth, its only been this past week that I've started to feel a bit more positive about life. Some of you may recall that I'm currently signed off work with stress and depression (work-caused). However, I'm looking to start back to work on a phased plan at the end of this month.

I've used the time over the past week or so to have a good trawl through my finanaces (and the house) and I've been absolutely shocked :eek: at the amount of rubbish and unnecessary stuff I've bought over the last few years. I've wasted more money than I dare think about.

But there is nowt I can do about changing the past, so I'm looking to the future. Payng off all my debts before 2023 is a real incentive for me. Even if my 8 year plan doesn't work out exactly, at least I hope to make inroads into things.

Hang on in ther all. I know we are going to get there in the end. You all have given me so much hope and strength to face up to things and get them sorted that I know we can succeeed.