Pay ALL your debt off by Xmas 2019

cybertortoise

Can I join please?


My target is £4000 but my total debt is £13,389.66.


Thank you.

tearsandrain

Hi Muppets,

Please may I join, I have been a lurker last year and with the help of the thread this year I cleared my Halifax overdraft and catalogue debt.

I have around £1000 worth of debt left but with interest it will be around £1300 (unfortunately due to bad credit I can’t get a 0% card but pleased I have just one debtor now). Not sure I will be able to pay it all off but I am going to give it a good go!

I would like to set my target at £1300 please.

I don’t have a number but if possible could I have a number assigned to me that is a multiple of three please. No worries if not.

Looking forward to getting started.

Tears xx

B17c

£600 paid to Aqua card :j

#126
£600/£12526

Choccygirl123

Morning muppets

Could I join please? My target is £7500 which is regular loan payments and all of our 0% credit card which is currently at £3523.73.

Going to be difficult as I'm on long term sick pay, probably losing my job in next month or so and hubby is repaying a £1200 overpayment from work because his hr manager messed up months and months of claims.

mark55man

Hi ChoccyGirl123 - sorry if I'm stating the obvious but as you are paying a 0% card off - you could build a lump sum of £3000 by doing a regular saver with £250 a month and get 5% interest (eg at Nationwide) then at the end of the year you will have made your minimum payments plus £250*12=£3000 plus about £90 in interest which is a lot of money for not much bother and that would see you clear or thereabouts

mummy2threeboys

mark88man wrote: »

Hi ChoccyGirl123 - sorry if I'm stating the obvious but as you are paying a 0% card off - you could build a lump sum of £3000 by doing a regular saver with £250 a month and get 5% interest (eg at Nationwide) then at the end of the year you will have made your minimum payments plus £250*12=£3000 plus about £90 in interest which is a lot of money for not much bother and that would see you clear or thereabouts

:beer: I hadn't thought of that, very good idea. I'm also looking to see if there is any rewards for bank swapping. I'd like to leave my Od as a debt rather than a main account I find it hard to figure out and clear it.

mark55man

if you swap to Nationwide (I Know they do regular savers at 5%) then you can get a referral you get £100 and your referrer gets a £100. Then you could do it to your OH and both get £100 - assuming you meet all the fine print. To get the £100 you do have to properly switch accounts so O/D may be a problem - I don't know. I found the NW online banking a bit old fashioned but very easy to use

If that all worked you would have £6480 instead of £6000 at the end of the year. (2x12x250 = £6K + £180 interest + £300 swapping)

Buffythedebtslayer

mark88man wrote: »

if you swap to Nationwide (I Know they do regular savers at 5%) then you can get a referral you get £100 and your referrer gets a £100. Then you could do it to your OH and both get £100 - assuming you meet all the fine print. To get the £100 you do have to properly switch accounts so O/D may be a problem - I don't know. I found the NW online banking a bit old fashioned but very easy to use

If that all worked you would have £6480 instead of £6000 at the end of the year. (2x12x250 = £6K + £180 interest + £300 swapping)

That is proper MSE! I've not read anything that clever in ages

Mind you I haven't been remotely focused in a while either!

[Deleted User]

Can i join with a target of £5000? I started the challenge last year but lost track, so not sure what my number was thanks! x

Choccygirl123

That's a fab idea Mark 88, but I think I'll lose the benefit of the regular saving as my 0% deal finishes on the 1st dec. with not getting much money paid in first 3minths I think I'd loose the benefit by having to pay the interest on the credit card whilst waiting for my saver to mature. I wished I posted sooner because it could have worked really well!

I will look at swapping bank accounts though, we moved around a year ago to first direct for the bonus.

With hubby paying back the overpayment if expenses in jan, feb and March I know £250 over regular payments is a pipe dream.

To be honest as things stand my target of £7500 appears more wishful thinking than achievable. I'm at a great believing in aim high. It's better to have missed the Targart, than fail to try!