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    • Rochdale_Guy
    • By Rochdale_Guy 16th Nov 04, 10:07 PM
    • 1,682Posts
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    Rochdale_Guy
    Cash ISA - once withdrawn you CAN'T add funds?
    • #1
    • 16th Nov 04, 10:07 PM
    Cash ISA - once withdrawn you CAN'T add funds? 16th Nov 04 at 10:07 PM
    Can someone please help me here ASAP ?

    I think I've really f*****d things up now I'm debt free ! :'(

    Courtesy of my EGG card and them lending me 3,400 at 0% until 1/1/2005, I put all of the 3,000 in to an "iF" !Mini Cash ISA. The other 400 into an ING a/c.

    EGG wanted about 65 per month minimum repayment back, which they took out my current bank account via Direct Debit.

    I then transferred 65 each month from the "iF" ISA to my current bank account to replace the EGG monthly D/D... follow me so far.

    Well, this has meant 400 has come out of the ISA into my bank account.

    This 65 tit-for-tat would have continued until say 2 weeks before EGG wanted there 3,400 back (minus the 65 monthly repayments made) in January 2005.

    Any interest received was pure PROFIT for me on this "borrowed" amount, fair enough.

    Problem is I only have 2,400 in the ISA now, and this is reducing by 65 each month remember.

    Can I pay back 600 from my current account (or other source) to top the ISA back upto to the 3,000 limit or have I blown it for this year 2004-2005 ?

    Please reply. I think I've screwed up badly !:-[
    Thankyou,Rochdale_Guy

    P.S. Just suppose some fool I know (!) also transferred a further 1,900 from the ISA into an ING direct account 'cos he was receiving more monthly interest on his larger 10k+ ING balance than with the "iF" ISA - depsite he was paying tax on the ING account.... leaving now just 500 in the "if" ISA. Is he totally screwed now ?

    HELP PLEASE !!!!!

    Remember, I only had the borrowed 3,400 from EGG until 1st January 2005 anyway, so I can't have lost that much in interest can I ?

    Oh yeah, purpose of this post is my other half wants to see what savings I have, hence asking if I can add to the lowly 500 "iF" ISA balance.

    Sorry for any shrouds of secrecy here !:-X :-[
Page 2
    • tru
    • By tru 18th Nov 04, 12:48 PM
    • 8,811 Posts
    • 47,430 Thanks
    tru
    Re: Cash ISA - once withdrawn you CAN'T add funds?
    Seems to me RG your most important concern is keeping your wife. In your place and in your circumstances I would consider trying to con her with figures, dont admit anything other than you dont have any problems, after all you seemed to have confused a few on here with the way you explained it.
    What ever you do dont lose your wife because of the banks, bend the truth a little, they do.
    As Martin says in a little time you'll be home and dry, and a little wiser.
    Don't try to con your wife, she'll know (we women have a great 6th sense ) She probably asked for the info in the first place because she knew something wasn't quite right.
    And keep the mother in law out of your personal business.
    Big YES to that
    • Rochdale_Guy
    • By Rochdale_Guy 18th Nov 04, 11:45 PM
    • 1,682 Posts
    • 1,293 Thanks
    Rochdale_Guy
    Re: Cash ISA - once withdrawn you CAN'T add funds?
    [glow=yellow,2,300]OUCH ! [/glow] :'( :-/
  • deemy2004
    Re: Cash ISA - once withdrawn you CAN'T add funds?

    Don't try to con your wife, she'll know (we women have a great 6th sense ) !She probably asked for the info in the first place because she knew something wasn't quite right.
    Big YES to that
    Yes but the secret is we men have a seventh sense
    We know that you know so we counter it with the guilt trip

    Show her the saving isa first
    Then fess up the MBNA with the 0%
    Then give her the ING savings account.

    If we can barely make out your actual debt, I'm pretty sure she'l be totally lost, and leave it up to you with your new found expertise in finance
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