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Slaying my final Debt Dragon: The Capital One Card.
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sparks_2023
Posts: 186 Forumite
So, here I am. The last pernicious debt.
Background :
Years and years of debt problems coming to an end with this diary.
Notable mentions go to the "wonderful" debt providers - some bust, some claimed against for unaffordable lending, some still draining blood from others.
From memory ( probably more ) : Wonga, Lending Stream, QuickQuid, Mr Lender, Uncle Buck, ToothFairy, Swift Sterling, Pixie, Feratum, Fernovo, Fund Ourselves, Likely Loans, CashAsap, CashFloat, My Finance Club, SafetyNet Credit, PoundsToPocket, 247 MoneyBox, TrustedQuid, Cash4UNow, Payday Express, PaydayUK, Satsuma, Bamboo, Peachy, MyJar, MoneyBoat, MoneyBarn, 118118, Zopa Card, Aqua Card, NatWest overdraft.. I forget the rest....
And now the last one... The Capital One Credit Card.
Situation : The Card is "in order". Blocked from use by Capital One. To be paid off as normal, no Arrangement to Pay. Capital One have decided the card will be closed when the balance is zero. I've no complaint about that.
Defaults : 4 on my Credit File - no chance of getting a zero interest card to transfer the debt to.
Live and Learn : I should have defaulted this card in 2022. Too late now as I don't want the 6 year default clock to reset.
Balance : £446.10
APR : 26.4%
Monthly direct debit will be : £30
Additional ad hoc payments will be made as and when.
This is day 1. It'll be interesting to see how many days it'll take to pay off from now.
Background :
Years and years of debt problems coming to an end with this diary.
Notable mentions go to the "wonderful" debt providers - some bust, some claimed against for unaffordable lending, some still draining blood from others.
From memory ( probably more ) : Wonga, Lending Stream, QuickQuid, Mr Lender, Uncle Buck, ToothFairy, Swift Sterling, Pixie, Feratum, Fernovo, Fund Ourselves, Likely Loans, CashAsap, CashFloat, My Finance Club, SafetyNet Credit, PoundsToPocket, 247 MoneyBox, TrustedQuid, Cash4UNow, Payday Express, PaydayUK, Satsuma, Bamboo, Peachy, MyJar, MoneyBoat, MoneyBarn, 118118, Zopa Card, Aqua Card, NatWest overdraft.. I forget the rest....
And now the last one... The Capital One Credit Card.
Situation : The Card is "in order". Blocked from use by Capital One. To be paid off as normal, no Arrangement to Pay. Capital One have decided the card will be closed when the balance is zero. I've no complaint about that.
Defaults : 4 on my Credit File - no chance of getting a zero interest card to transfer the debt to.
Live and Learn : I should have defaulted this card in 2022. Too late now as I don't want the 6 year default clock to reset.
Balance : £446.10
APR : 26.4%
Monthly direct debit will be : £30
Additional ad hoc payments will be made as and when.
This is day 1. It'll be interesting to see how many days it'll take to pay off from now.
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/2023
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/2023
3
Comments
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An ad hoc payment to start on the way.
Day 2 :
Payment : £1.10
Remaining debt : £445
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20232 -
A non planned spur of the moment payment.
Day 3 :
Payment : £3.61
Remaining debt : £441.39
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20231 -
This was never meant to be Payment A Day, but another £4.65 paid.
Day 4 :
Payment : £4.65
Remaining debt : £436.74
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20231 -
Every payment makes the interest slightly less. Roll with it and see how you go. End is in sight. Good luck!Jan 18 Joint debts 35,213
Mortgage Jan 18- 77224 May 25- just under 65k
June 25 Debts in my name only £5170. DH can't keep track...1 -
Rounded down current account to nearest £10. £3.60 paid. £30 direct debit payment in the next few days.
Day 5 :
Payment : £3.60
Remaining debt : £433.14
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20231 -
Day 8 :
Payment : £30 direct debit
Remaining debt : £403.14
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20230 -
Day 8 :
Payment : £4.14 paid
Remaining debt : £399
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20232 -
these round up amounts soon add up!Sept 24 : £32000
May 25 : £14000
June 25 : £13000
July 25 : £120001 -
Day 9 :
Payment : £10.33 paid
Remaining debt : £388.67
Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
Legacy Default dates :
Mr Lender - 31/10/2022
Fund Ourselves - 22/12/2022
Bamboo - 30/3/2023
Likely Loans - 14/4/20232 -
You are flying through thisMortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 12st determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge.1
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