Hypno's cheaper than therapy debt diary.

Seaxwyn

£1300 paid off in a month?! Go Hypno!

Keeping_Motivated

Just popping in to say thats really amazing how much you have paid already.. especially as you have not really been earning as such this month. Like you say when this debt is cleared you will definately have a healthly bank balance if you can achieve this in a month.

I wish you lots of luck with this. After you have finally got through it you will have even more skills to achieve even more beyond your debt free life. Hope that makes sense.... I know what I mean

hypno06

It is not that spectacular really - you have to remember that we HAVE to make minimum repayments of £1350 a month, just so that we don't default! So, I am only doing the minimum, not much more at the moment!

Oh to be debt free and to have that £1350 to ourselves, or to go towards the mortgage! How fab would THAT be!!

When I am earning properly, things will hopefully settle down - may that day come very soon, please Santa, please!!

Snaggles

Morning Hypno! Your sig IS looking pretty amazing! :T

My new years resolution is going to be (taking inspiration from you) to put my no-holds-barred debt into my sig and start attacking it. It will be quite scary to see it there, but that's the idea, isn't it, lol!

This is probably a silly question considering how long I've been a DFW, but how to you work out your outstanding loan amounts? Do you just add up how many payments you have left and times by the monthly amount, or do you get an actual settlement figure, or....something else....

Keeping_Motivated

hypno06 wrote: »

It is not that spectacular really - you have to remember that we HAVE to make minimum repayments of £1350 a month, just so that we don't default! So, I am only doing the minimum, not much more at the moment!

Oh to be debt free and to have that £1350 to ourselves, or to go towards the mortgage! How fab would THAT be!!

When I am earning properly, things will hopefully settle down - may that day come very soon, please Santa, please!!

Yes but to be able to make that size of minumu payments when you are not on 'proper' wages at the moment is still a big deal... So well done for that.

Savvy_sewing

Morning Hypno and everyone else. Just when I though I was sorted HM Customs have decided I defaulted on something in 2006 and are charging me for it? Even though I am bankrupt. Letter this morning depressing me!! Good to see your challenges, cos it makes me determind to sort it out some how. My eldest daughter has arrived to visit so she is going to take me to sainsburys for the bits that Mr T missed on my delivery. Imagine no loo Rolls, surely they could have substituted them???? Cant have christmas without a supply of loo rolls.!!!!!
Have a good day everyone. xx

hypno06

No Loo Rolls :eek: Would have to use Christmas cards.......all that glitter :eek: :eek:

Snaggles, my loan repayments are based on settlement figures - all my loans are available to look at online, so it is quite easy to see what is outstanding. Some have interest added on a daily basis and are flexible so it makes more sense to just have in my signature what is required to "pay it off" rather than the total amount of monthly payments.

If I DID put in the total amount of monthly payments, the amount in my sig would be even more scary, but I suppose it would come down quicker too! I think the way I have done it is ok - to do it any other way wouldn't work for the credit cards etc because the APR fluctuates and monthly payments vary so much.

Get that scary sig in, Mrs S - you know it makes sense!!

Snaggles

I'll ring the bank in a bit and get an up to date settlement figure then! :eek:

I can't view it online, annoyingly (although i do work for the company it's with, so better not complain too much, lol!).

hypno06

Perhaps you could put it in a repayment table, then you would have an idea what remains outstanding each month without the need to ring the bank every few weeks?

Seaxwyn

Hi there. Snaggles, I calculate my loan total differently - I just multiply the payment amount by the number of payments to go. That way it comes down by £391.63 every month, which is very satisfying! I don't know how the settlement figure is calculated, so this way is easier for me. Just do what works for you.

Hypno those min payments are punishing. But just think when you have that much every month for your mortgage or yourself! You could go on holiday every month.