Back again

shellslife

We used CC2 and 4 So refund will go back on to them. We will then ask for the difference from them. 

Never thought about paying the loan off early but when I have looked this would save us £500 in interest. Thanks for the suggestion 😀
Will just have to see how long it takes before we actually get the refund back. Reading reviews some people are still waiting from March yet other people have said a week. 

shellslife

Had refund back for the car park. This has been refunded straight to CC2. It is so nice seeing the balances reduce 😀

enthusiasticsaver

Good work on getting the car park refund back quickly. Hope the holiday refund comes back soon. 

shellslife

The insurance premium I was getting back has been refunded and the BT has gone through. This takes CC2 down to £1161.62 and CC4 stands at £2181. As soon as holiday refund is in these will both be gone so no more interest, especially if we are clearing the loan as well 😀 There is light at the end of the tunnel.

shellslife

Just checked my payslip for the extra I did last week and I’m getting paid £111.12 so more money that I can pay off CC4 tomorrow.  

I think once the holiday refund has come through and we only have the 3 cards on 0% I need to split the direct debit amounts that we are currently paying 4 ways. 3 to pay towards the cards and the 4th into a savings pot. Our emergency fund pot is currently standing at £727 at the minute.
I know DH feels awful that I’m working 50 plus hour weeks but his company doesn’t allow overtime. But I am determined to get this debt gone and maybe then start overpaying the mortgage. We have a pretty good deal fixed for 5 years so would be great if I could have the mortgage finished by then as well. We currently have 9 years remaining.

enthusiasticsaver

That would be brilliant if CC2 and CC4 repaid by holiday refund.  Then as you say you can focus on the loan and then only CC1 and CC3 to go.  That would be wonderful to focus on the mortgage once the cards are gone.  You have really turned this around quickly. 

shellslife

We also have CC6 now which was the BT from CC2. 

The plan is to use holiday refund (approx 10k) to clear balance on CC2 and 4 (approx 3.5k). Ask for settlement figure for loan which will be around 4K and clear that. The rest of the holiday refund will be my dads share of the holiday. 

That will then leave (all approx figures)
CC1 6.2k 
CC3 4.7K
CC6 4.3K
All are 0% until 2022. 

So that’s 15.2k to try and clear in 23 months. We have been paying about £500 a month for everything without me doing extras. Plus we also still have the 3 months mortgage holiday so I know I should be able to do it. I do have the dates the 0% offers end so will make sure to concentrate on the closest end date first.
If it is looking like that I can’t get it all paid I will keep an eye on offers for BT card closer to the time but that will be a last resort. DHs CC2 often has offers so will keep this one open. Will use it for a shop or fuel and pay in full if they send a letter saying they will close the account.
The advice and support I have had has been so helpful 😀

enthusiasticsaver

Sounds like you have a really good plan then and hopefully the debt will be gone by 2022.

shellslife

Back from a long day in work so I’m shattered today but just wanted to post that I have paid another £111 off CC4. I’m also back in work tomorrow doing an early shift as an extra so that will be another £60ish that I can pay next week.
Told manager that my holiday has been cancelled and that I now won’t have anything to do for 3 weeks so fingers crossed that some extras come up for me to do when I’m on AL in a couple of weeks. 

Probably by the time the holiday refund money gets returned I will have cleared most of CC2&4 lol but if that happens then I think the extra I will put in a savings account.
Well I think I best get off to bed before I fall asleep on the iPad. Goodnight all x

shellslife

Hi. Just got a couple of questions I’m hoping someone will be able to answer.
When we get the refund back on to the 2 cards how do we then go about getting the excess balance returned to us and would we incur any charges?

How much monthly interest would we be incurring on CC4 which has a balance of £2280ish and apr is 29.9%?

Reading through forums on being refunded for our holiday some people have been waiting 4 months so wondering if it would be cheaper moving that balance to CC2 which has a 0% BT offer on at 2.4%.