Wobbling my way out of debt

Lookafterthepennies2020

Brilliant news you managed to avoid the car crisis!!!  I would also say option 2 pay off the loan x 

ohdearhowdidthathappen

I'd also say option 2

DancingInTheRain

Another vote for option 2 🙋

findingthisdifficult

Thanks for your helpful advice as always!  

So, I've moved some money around and rounded the payment up to £2k.

Here's a random mid month exciting numbers update for you:

Loan is now £1.4k and the amount paid off is now 87%. On the 3rd August, my loan will drop below the £1k bracket!

kindofagilr

Option 2 vote here too  

findingthisdifficult

This has really started something, I'm thinking minimum payments to the CC for the next couple of months and overpay on the loan, can't believe I didn't think of this sooner, I've paid £900 off my CC in the last few months, I'm so stupid!! 
All being well, I'll be starting 2021 with just a mortgage...this does not feel real! 

IrishSean

Well done Mrs! I cast a vote for option 2. I'm the same, constantly rethinking the paydown. I'm now in the 'some saving can wait' camp: I had a horrible epiphany on hols about holding debt on two 0% cards come Aug & decided to pay off instead...

More details on my In Need of Encouragement... 

You're hammering your totals now: WTG!!
💪😊

findingthisdifficult

So just pondering life without interest accruing debt and the what next in financial life...stumbled in to my experian credit report which still shows my loan at £3.9k...I wish they would update quicker

I have

• 1 CC in my name (the one with the £2k on it which I'm hoping to clear in the next few months)
• the joint loan which will hopefully be gone in the next couple of months

Mr FTD has:

• the joint loan (As above)
• creation finance (for a sofa, this was paid off this month although hasn't been updated since March so still showing over £100 owing)
• 2 CC's with 0 balance

Questions for you clever people if you will:

1. Should we close the CC's with 0 balance?
2. This is probably like how long is a piece of string but how long before these blemishes (outstanding) balances get updated?

I want to get our credit score (I know the numbers mean nothing but overall I'd like it to look the best it can) in to the best possible shape before getting the house on the market.

Thanks in advance.

Sarahwithlove

When we sold our house it took about 8 weeks for my loan to come off my credit score but my mortgage broker did say it can take up to 12.

Lookafterthepennies2020

Not sure I'm the best person to give advice but personally I would keep the cc at 0 balances until the rest of the loans etc update on your credit file as you will have a lower credit utilisation if your not using them x