New me New start, Pania's positive Progress!

pania

Ok, well I'm all confunded... went to have a quick shut eye as was tired but have so many figures swiming round my head i have given up and need to get it out on "paper" as it were so i can see where i'm going...

Had a natter with pa earlier re my welcome finance loan. i'd always though the APR was around 36%. I looked at the CA and it is actually 59%!!!:eek: :eek:

after a suprisingly mild telling off I have been offered the money to repay it and to pay them back monthly over 2 years (quicker if i had my way:D )
That would leave me free to pay the additional money each month off the blasted nationwide card i am desperate to be shot of (it's teasing me now!:o ) and with my increased commissions coming as of aprils pay I should be able to get that one gone in the space of a few months.

But heres the crux of the matter. I feel so guilty for borrowing from mum and dad. I didn't mind with the N rock loan as they weren't dipping in to any of their own money to do it. I know they have plans for things they want to do this year and the money i borrow may well prevent them from doing some of them and i so don't want that. what would you guys do?


below is alot of rambling that won't make sense it's just what is in my head so please ignore, blame the lack of a pen and paper.....
So here we go (and an upwards signature amendment is required to:o )
Settlement figure from Welcome £2240 :eek: only £600 more than i thought, hey ho
Current monthly payment £145
Total amount repayable if paid over 36 months £4556.95:eek:

settle with loan from M+D £2240,
Monthly payment over 2 years £93

surplus of £52 per month.

contractual payment on nationwide card £40 pm
current time to clear balance= 29 months
increase payments to £100
time to clear balance 11 months. (will do it in 6 if i have my way!)

payment this month £60 takes balance to £1100,
-savings from this month and bingo money = £32.83
takes balance to £1067.16

amount needed per month to clear in 6 months £177.86.

with various bits and bobs (non debt) that i am currently paying for coming to an end i will have an additional £131 by the end of april, and an extra £25 by the end of july... leaving a total of £156 to put towards my debt....
Off to the snowball calculator i think. i'm confused.....

In_Search_Of_Me

Hey there Miss P...its a no brainer if you ask me. That APR is HORRENDOUS! I would just say a huge thank you to them & show this by paying them back every month and when you're debt free send them on a wee holiday or sommat to say ta. I know my mum would help me if she could and supports me in other ways which means alot. Sounds like your mum & dad are able to help so I would take them up on it. It also leaves you free to pay off mre quickly on other things so I would just do it! I can undestand why you feel bad but beggars n all that!!
Snowball has always scared to poo out of me so have never done it! Pathetic eh! Plus with my dyslexic brain cant quite get the concept! I just worry that if I punch my cc's in it'll tell me I'm here till I've been dead 10 years! ummm
You're confused & I'm desperately sucking on a nicorette lozenge and trying to ignore the "GO AND SMOKE THOSE EMERGENCY FAGS & THEN GO & BU ANOTHER PACKET" voice that is literally screaming at me...going to be a tough few days me thinks....piggy has another layer on him & is startig to look piggyliscious!

pania

yep mine are calling me to, think i need to go envelope myself in washing up, wet hands can't lite em and this is doing my head in!! snowball is blinking scarey, is saying i should be paying £366 per month off northern rock and leaving the credit cards to laugh at me, but that ain't gonna improve my credit rating any!!! GAAAHHH!!!

pania

ok, got 2 names

aroha which means love (colour scheme.... erm... pink with little red hearts?) or
whetu which means star... in which case you could paint him as a night sky pig?

blackangeluk

It was brill, I'm around on gmail tonight and tomorrow if you fancy a catch up - put some pics on facebook too. Can't wait to go back either

Personally re WF I would snap your mum and dad's hand off, you would save a fortune and you could do what ISOM suggests and treat them when you are debt free. So pleased your relationship with your Dad has taken such an upwards turn - bet you are both so much happier now.

Off to do some work, hazard of working from home at half term :rolleyes:

BTW, afraid the cat is no more

pania

oh no!!!! poor puss, what happened!!!! can't gmail tonight hon as lots to do, need to get off me backside and do it! but am around tomorrow morning for a chatter natter as my mum would say. be there or be.. erm... not there? saw some of the FB pictures. notice you didn't get much of a sun tan:rotfl:
Can't believe how BROWN you were!!!! have to tell me all about it. xxx

Lemon_Tree

hi, i have to say i'm with the others, borrow the money from your parents and then treat them when you've finished repaying them.

Don't know if we're allowed to vote but i like the night piggie name myself.

Just thought i'd let others know (though you already know P) but i've found my shoes and they didn't require a second and third mortgage!

hypno06

Take the loan from mum and dad x

pania

dammit!!! no business there for me then!!! be considerate to your fellow dfw's next time and buy some that require third fourth and fifth mortgages!!!:rotfl: :rotfl:

fab news that you have found some that you are so happy with!:T

pania

hypno06 wrote: »

Take the loan from mum and dad x

ok I have about 4 sets of snowball figures in front of me right now, with welcome left running at the total monthly payments i am making right now and another without
with welcome running if i was paying £850 per month and again another without, need to sit downstairs with a cuppa and do some analytical analysing i think.:o