£31k of debt to go in 18 months.

Jamesyb123

flapflop said:

@Jamesyb123 I did look at that but I cant get money transfers, only balance and I think I would need a money transfer to pay that. Question though, I do have loads of 0% balance transfer offers, can I do a balance transfer to clear a loan? I guessed it would have to be a money transfer because the loan doesn't have an account number or card number. Does that make sense?

Yeah it makes sense some credit cards will allow you to transfer amounts to your bank account but not sure if that goes down as a cash withdrawal and has charges as well as negative effect on credit file. Other option though you could ask the loan company if you are allowed to pay off the balance with a credit card some companies will allow payments on credit cards some won’t allow you to pay debt with debt.

flapflop

Jamesyb123 said:

flapflop said:

@Jamesyb123 I did look at that but I cant get money transfers, only balance and I think I would need a money transfer to pay that. Question though, I do have loads of 0% balance transfer offers, can I do a balance transfer to clear a loan? I guessed it would have to be a money transfer because the loan doesn't have an account number or card number. Does that make sense?

Yeah it makes sense some credit cards will allow you to transfer amounts to your bank account but not sure if that goes down as a cash withdrawal and has charges as well as negative effect on credit file. Other option though you could ask the loan company if you are allowed to pay off the balance with a credit card some companies will allow payments on credit cards some won’t allow you to pay debt with debt.

There's no harm in asking I suppose? Would save me a lot of interest. 

Jamesyb123

flapflop said:

Jamesyb123 said:

flapflop said:

@Jamesyb123 I did look at that but I cant get money transfers, only balance and I think I would need a money transfer to pay that. Question though, I do have loads of 0% balance transfer offers, can I do a balance transfer to clear a loan? I guessed it would have to be a money transfer because the loan doesn't have an account number or card number. Does that make sense?

Yeah it makes sense some credit cards will allow you to transfer amounts to your bank account but not sure if that goes down as a cash withdrawal and has charges as well as negative effect on credit file. Other option though you could ask the loan company if you are allowed to pay off the balance with a credit card some companies will allow payments on credit cards some won’t allow you to pay debt with debt.

There's no harm in asking I suppose? Would save me a lot of interest. 

Yeah definitely if you’re paying interest it’s a no brainer but then also check with credit company that it would count as purchase and not cash withdrawal 

MrFrugalFever

I think at your current rate PayPal will be gone very soon and then you’re just left with the big 4. It will then be a self-disciplined game of time. As you break the back of the highest interest debt, it will feel like a massive weight lifted.

there is one possibility of paying the loans with a credit card if say tesco or virgin where to offer you a purchase promotional rate, with the use of a Curve card, however!!! It all depends on the merchant codes and whether tesco / virgin will class it as a cash advance. This is something more complex that I could explain much further down the line should you become interested.

flapflop

@MrFrugalFever best to keep it simple for me  

MrFrugalFever

Hehe, no problem. 

I couldn’t find the latest selling fees on eBay when I had a quick look last night, they used to take a % of your sale once buyer confirmed?

flapflop

@MrFrugalFever I believe it is 10% of the total amount (selling and p&p)

Jamesyb123

@flapflop that’s what I was trying to explain what has been said above check that there won’t be a ‘cash advance’ also make sure that it’s included in any 0% promos

Shopaholic_no_more

flapflop said:

@OLaney thank you for your support. Are you keeping a diary too?

Evening!

No I’m not keeping a diary but I am also on the frugal living forum as well and am getting a lot of tips from there too! I will post on here as to where I am on my journey so we can all travel down the road together. 

I keep getting a request through eBay to give them my bank details so I can bypass PayPal as well....however, I am not overly keen to do this as I don’t find them to be the most secure site unless you change your password every week. Only say this because my partners eBay account got hacked into twice with suspicious activity happening because of the hack. He consequently closed his account in the end. So this kind of puts me off a bit. I have currently kept my PayPal account active on there but also a bit miffed that I’m effectively paying commission twice 🤷‍♀️. 

Shopaholic_no_more

Tightpants24 said:

Hi.  I am a lurker and thankfully don't have much debt.  But my income has been significantly reduced due to impact of lockdown.  I have been looking for ways to be frugal and am so inspired by your approach.  You are a selling ninja 
I have now started going through the house to see what I can list.  Thanks for the inspiration!

Hi
Head on over to the frugal living forum 2021 on here. Lots of people with lots of great money saving ideas. Also, I totally recommend giving Frugal Jo a watch on YT for money saving inspiration....she is very unique.