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The quicker you pay off debts* (starting with the highest cost ones) the bigger the bang for your buck. If this means chipping away at them by making accelerated capital repayments rather than waiting until you have the full amount to clear them then do it. If making accelerated capital repayments in additional to the normal scheduled repayments on a loan then make sure to agree things in writing with the lender to avoid any confusion and to avoid the additional amounts not being paid off capital immediately. You shouldn't be so blasé about the credit card - you should clear it ASAP as it's most likely your most expensive debt by far.
* Assuming that they are not fixed rate debts in which case penalties may apply.
Why not clear it now and cut the interest charges if you have the money now!?[FONT="]Its not that i am ignoring the credit card, sorry i didnt mean it to come across that way but i have it in the little black book that next pay day its getting cleared and cancelled[/FONT]
What rate is your CC charging? What rate is the TSB loan? Deal with the most expensive first.[FONT="]I am going to call TSB first thing tomorrow and tell them that we will be putting more than the agreed amount of the loan every month and get them to send something out[/FONT]
Swapping from Tesco to Tesco?[FONT="]Would swapping the loan to tesco be woth while or is there a catch to it, because it seems to easy to be true?
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Swapping from Tesco to Tesco?
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