The long haul supporters thread...

In_Search_Of_Me

lol HPTGDF...I assume you mean 2011....will you last as long as 2911?!! now that would be depressing....
hugs re cocked up figures KP...nothing worse...

Happytogetdebtfree

Morning morning here i am trowling through the spreadsheet where i keep all my figures with intrest so here goes

Egg credit card 27% owing £975.71
Halifax Credit card 21% owing £1742.07
Virgin credit card 15% owing £1545.44
Partners Halifax credit card 24% owing £5102.17
Partners virgin credit card 27% owing £4731.45
Barcaly card 15% owing £1133.47
Mint credit card 14% owing £2270.05

Now they are just the credit cards and sub total to ...£17500.36

the loan that is the killer for us is the home owner loan which is £23313.23... he intrest is loan but because they only let us take it over 25 years cheeky !! its only paying 86.67 per month on the actual figure i give you when the loan payment is 218.28 !! this loan is robbing us of 1579.32 p a year in intrest...now thats less that what the credit cards together are doing but still i wonder if i should accumu,ate savings to clear this or if its wiser to clear the credit cards this has a fixed intrest rate till spet 2012 then it can change hence the worry to clear it so hastily hope you guys can show me workings out for the cost in intret much appreciated x

In_Search_Of_Me

Hi there HTGDF...will investigate...I cant work it out myself but I know a girl who can..! Have you checked the loan on whether you can overpay the homeowner loan? Re paying off it is a good idea to get rid of the highest interest cards first and then work your way down...I dont know how much you earn as it makes a huge difference to what you can pay each month but I do wonder whether its worth you talking to cccs about whether its worth doing a DMP? I know thats scary but I worry for you that you are paying off what you can but with the interest that its a huge mountain to climb for you...You are going great guns though! Keep it up and will be back asap with calcs...unless someone else manages it before me!!

Happytogetdebtfree

hi love we bring 4k a month home we are paying 1000 on wedding at the mo so when that's done we can overpay by 1k amonth on top of minimum payments x so on that note I don't think they would like to give me a dmp haha but thanks for the advice x

Happytogetdebtfree

sorry forgot to say I earn 23k otherhalf earns 30k. On our monthly outlay it's 2600 we don't always make 4k but we make enough to have a 1000 excess so don't worry too much about us we will feel better when we are chunking at the debt rather than the wedding x

Keeping_Positive

Have you used the snowball calulator here http://www.whatsthecost.com/snowball.aspx ?

Bahamas

Hi, can I join in too. I'm in the for the looooong haul and would love to be part of this. Grateful for a number too.

DMP Start Date 01/06/09
DFD date 01/03/2014:eek:

Happytogetdebtfree

Hi bahamas someone willbe along to give you a number post an soa we can have a looksie ... keeping positive ive looked ta snowballing if we pay just minimum its 96 months with 16 thousand intrest if we overpay by 1 k its 24 months and 4k intrest go figure so yay to wedding been paid for and yay togetting debt free woo woo ..... its hard keeping up the positive out look all the time lol :P xx

In_Search_Of_Me

bahamas (164)

There you go and welcome. For all the new people amongst us its nice to know a bit about you so share what you feel happy to!!
HTGDF at least you have a good income and with work should crack it...the main reason I got into debt was that I thought "fab I earn good money...lets shop" and it wasnt till too late that I realised that its the interest that gets you. The interest on one loan alone is 8000 which is a gut wrenching amount I wish I'd thought more of when I signed the papers...

Happytogetdebtfree

evening love x do you earn a good salary? well when your signing papers for quick cash we dont read the small print we live and learn hey you have less than 10 k of debt on your signiture you are almost at the journey end we can do this its just a ball ache when you wake up and smell the coffee ooooo i intend to keep thos credit companys out of business :P because now i will save when i need new its like the old fashioned way my friend x just heading to la nest feeling tired, its ok having a good job you are angry that excessis eaten up on past times rather than building a future but cest la vie x