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£31k of debt to go in 18 months.
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Thanks @MrFrugalFever. That was the intention but they make it so hard to make extra payments that I found myself trying to save the money to make lump payments to them, it being almost impossible to do that and then I was spending the money so I decided it was best to go towards some debt than no debt at all. You're right though. I could pay mum a little and have the interest bearing loan paid back in 3 months.
Total debt at peak 2021 = £38931
Debt at start of diary £31,073.95
Current debt = £25402.41
Paid off = 33.22%
Next - £278.30/ £0.00
Simply Be £62.95/ £0.00
Very £617.09/ £0.00
Paypal £1974.00/ £0.00
Mum £5800/ £5000
Yorkshire bank £7,000/ £2037.12
Tesco credit card 0% £9000/ £8800
Virgin CC 0% £10,000/ £9220.380 -
I find it so bizarre that you can literally sit on your mobile banking app any time of day morning noon and night transferring anything from a penny upwards to the banks limit as many times as you wish to a credit card balance yet on a loan it doesn’t allow?!I know each lender is different but surely in the interest of HELPING people to pay, with being fair and consistent across the regulated board, one would expect a omni-channel payment option!If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing1 -
@MrFrugalFever if I were being sceptical, I would suggest that the banks don't want you to repay early. Of course that can't be true!Total debt at peak 2021 = £38931
Debt at start of diary £31,073.95
Current debt = £25402.41
Paid off = 33.22%
Next - £278.30/ £0.00
Simply Be £62.95/ £0.00
Very £617.09/ £0.00
Paypal £1974.00/ £0.00
Mum £5800/ £5000
Yorkshire bank £7,000/ £2037.12
Tesco credit card 0% £9000/ £8800
Virgin CC 0% £10,000/ £9220.380 -
I share your scepticism.Enjoy rest of your bank holiday weekend. I am now starting a no spend month due to an unexpected expense.If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing0 -
I agree about the loans. I can overpay mine as I bank with the same bank that has the loan, but I have to log in on the website and jump a few hoops. It won’t allow it from the app (which I use every day). I’ve never attempted the other one (yet), they don’t make it easy to work out how!Not all who wander are lost - J.R.R.Tolkien
🌊 A smooth sea never made a skilled sailor 🌊
My WW and friends diary is here 😁 …
https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p10 -
@flapflop really hope you can make a return and update on your progress! HNY
If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing0
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