New Life Pending.....

enthusiasticsaver

Iwantanewlife wrote: »

Just throwing out a quick question in case anyone knows the answer, CC1 and CC2 are capital one and vanquis (both owned overall by capital one) do you think it would be worth calling them up to see if i could transfer the balance on to one card and see if they can do anything with the interest? i dont know any thing about credit cards so dont even know if this is possible! due to my credit rating i know it wont be possible to find a 0% so thought this could be the next best thing?!

It is always worth asking so long as it does not register as a default. Sometimes they come up with low LOB interest rates on request. Nothing ventured, nothing gained.

I think your plan sounds great to prioritise that loan and minimums to everything else. I still think you should put £50 a month towards emergency savings. Can you get an airport coach rather than car parking? Is that feasible or possible if it is a lot cheaper?

mark55man

its always worth asking. :-)

Iwantanewlife

enthusiasticsaver wrote: »

It is always worth asking so long as it does not register as a default. Sometimes they come up with low LOB interest rates on request. Nothing ventured, nothing gained.

I think your plan sounds great to prioritise that loan and minimums to everything else. I still think you should put £50 a month towards emergency savings. Can you get an airport coach rather than car parking? Is that feasible or possible if it is a lot cheaper?

£50 per month is still scheduled to emergency savings, ive been also putting the food money ive been saving into it £91 in there now. Ive realised that with a child especially, i need to have that cushion and without it im going to end up in the same situation! I actually do have £3.5k in savings, but i lent it to a family member when they were going through a tough time. I will be getting this back soon once the sale of the house completes. When that is back in my account, i think i wont feel as worried, although im really determined to keep up with the savings.

As to the coach, its a good idea, but out flight is at 5am flying out, and 1am flying back, i think that actually i would rather pay the extra money, rather than trying to drag a 6 year old around at that time of night with suitcases:eek:! but i appreciate the suggestion.

Iwantanewlife

mark88man wrote: »

its always worth asking. :-)

That's what i was thinking!

I've just read your diary, keep up the good work, you seem to be making some way too! You are right about the benefits of the diary, it really does keep you accountable and motivated!

Moneywhizz

Your plan to pay minimums to the credit cards and everything else to the loan is definitely the way ahead. Once you have a bit of a buffer in your emergency savings you may want to consider paying even more to the loan to make sure you get it paid off with the least amount of interest. You may as well ask about combining the credit cards and reducing the interest. You don't have anything to lose unless it is recorded as default which you don't really want on your credit file. If you do get the £3500 money back fairly soon, you could also overpay the loan with the money you are currently saving for emergencies. You really have got a grip on this debt situation now. Looking forward to seeing it all paid off.

girlatplay

Just a thought but if you are due to get the loaned money (£3.5k) back soon then you could pay off the 89% loan once you get it and still have money left over for savings. Having £2k in an EF is far better than having £3.5k and a loan with that rate. You can still plod along with the other balances and they won't take long to go.

You'll be paid up in no time

janb5

Kitten868 wrote: »

Welcome aboard!

I can't believe such a small loan could cost so much! That's not me judging you. It's me 100% judging them. Does sound like theres absolutely no issue overpaying penalty free though. Now is definitely the time to attack your house and sell everything you can. A great win is ziffit or webuybooks - just load up all your books, games and DVDs and scan them and post them off for quick cash. Before submitting check for a 10% bonus code online. We did it and then sold the units we kept it all on.

Hi, I went on Ziffit following everyone`s recommendations but they dont take all books and some they only offer 20p a book so a lot of energy for little return....

Iwantanewlife

Moneywhizz wrote: »

Your plan to pay minimums to the credit cards and everything else to the loan is definitely the way ahead. Once you have a bit of a buffer in your emergency savings you may want to consider paying even more to the loan to make sure you get it paid off with the least amount of interest. You may as well ask about combining the credit cards and reducing the interest. You don't have anything to lose unless it is recorded as default which you don't really want on your credit file. If you do get the £3500 money back fairly soon, you could also overpay the loan with the money you are currently saving for emergencies. You really have got a grip on this debt situation now. Looking forward to seeing it all paid off.

girlatplay wrote: »

Just a thought but if you are due to get the loaned money (£3.5k) back soon then you could pay off the 89% loan once you get it and still have money left over for savings. Having £2k in an EF is far better than having £3.5k and a loan with that rate. You can still plod along with the other balances and they won't take long to go.

You'll be paid up in no time

Yes thats what i think i will do, however, i cant guarentee when that will be paid back to me. Therefore at the moment i think im just going to plan as if i havnt got it coming. Knowing me it will give me an excuse to be a bit more lapsed about the whole thing!!

Iwantanewlife

janb5 wrote: »

Kitten868 wrote: »

Welcome aboard!

I can't believe such a small loan could cost so much! That's not me judging you. It's me 100% judging them. Does sound like theres absolutely no issue overpaying penalty free though. Now is definitely the time to attack your house and sell everything you can. A great win is ziffit or webuybooks - just load up all your books, games and DVDs and scan them and post them off for quick cash. Before submitting check for a 10% bonus code online. We did it and then sold the units we kept it all on.

Hi, I went on Ziffit following everyone`s recommendations but they dont take all books and some they only offer 20p a book so a lot of energy for little return....

I havnt tried Ziffit yet to be honest. although i did sell some dvds to music magpie and they were about 10p to a £1 depending on what the title is. To be fair to the companies although it is a low price, they do make it as hassle free as possible, and i was quite pleased for the clear out! you will definitly not make big money from it though!

Iwantanewlife

So money wise its been another successful day. I am just about to leave the office to go pick up the boy from holiday club. Total spend for the day was £18.50 and this was for flowers for the funeral. This came out of my emergency fund now standing at £69.16. Its nice to know a little bit of money is there to cover these costs that you wouldn't be able to predict.

Going to head home and start food prepping - spag bol and chicken stir fry. these then double up for my lunch too.

Hope you all have a lovely evening.