The Happy Thought Thread Part 4
24-09-2016, 10:07
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#11491
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Remoaner
Cable Forum Team
Join Date: Mar 2004
Posts: 32,279
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Osem
Well done. Did you do so earlier than you needed to?
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Not too much. Just a final payment to get rid. Because PAYE deductions are pre-tax it's better not to pay it off too early.
Quote:
I'm assuming you didn't get into further significant debt as a result of the celebrations...
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Not yet
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24-09-2016, 10:15
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#11492
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 67
Services: Premiere Collection
Posts: 42,273
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Damien
Paid off Student Loan
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Congratulations.
__________________
There is always light.
If only we’re brave enough to see it.
If only we’re brave enough to be it.
If my post is in bold and this colour, it's a Moderator Request.
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24-09-2016, 10:23
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#11493
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,316
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Damien
Not too much. Just a final payment to get rid. Because PAYE deductions are pre-tax it's better not to pay it off too early.
Not yet
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The reason I'm asking is Osem Jnr, who's still accruing his debt. Aside from a mortgage I've avoided debt like the plague but times have changed so I'm just wondering what the form is re paying this stuff off.
Presumably student loans are taken into account by lenders and will affect the amount you can borrow for a mortgage?
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24-09-2016, 11:44
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#11494
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Remoaner
Cable Forum Team
Join Date: Mar 2004
Posts: 32,279
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Osem
The reason I'm asking is Osem Jnr, who's still accruing his debt. Aside from a mortgage I've avoided debt like the plague but times have changed so I'm just wondering what the form is re paying this stuff off.
Presumably student loans are taken into account by lenders and will affect the amount you can borrow for a mortgage?
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ah ok.
Well I went before they increased the fees and changed the way you pay it back. He will have more debt and I believe they increased the interest rate as well.
However they also pay less per salary band than I did and the debt gets wiped out after 30 years I think. So a lot of people will never pay back the whole amount before it gets wiped. It's better to think of it as an additional tax rather than a debt.
As for mortgages etc. It's only considered in the sense you get less take home pay available for a mortgage. It won't appear in a credit check and it isn't considered a debt in the same way a car loan would be. You don't get debt collectors and so on.
Don't worry about this in the same way you would worry about other debt.
There was a good post from the money saving expert about this, I'll see if I can find it.
---------- Post added at 11:44 ---------- Previous post was at 11:42 ----------
Here ya go: http://www.moneysavingexpert.com/stu...n-fees-changes
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24-09-2016, 12:42
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#11495
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nashville
Join Date: Feb 2011
Location: Rutherglen. Glasgow
Services: Virgin Media
Posts: 5,185
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Re: The Happy Thought Thread Part 4
Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,
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24-09-2016, 12:45
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#11496
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Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
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Posts: 56,388
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Re: The Happy Thought Thread Part 4
So glad that you are happy with your large purchase nash.
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“The only lesson you can learn from history is that it repeats itself”
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24-09-2016, 13:04
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#11497
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Perfect Soldier
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by nashville
Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,
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Glad it exceeded your expectations Nash.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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24-09-2016, 13:20
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#11498
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Believe in yourself ...
Join Date: Dec 2013
Location: Here & there ...
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Damien
Paid off Student Loan
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__________________
A smile is a curve that sets everything straight.
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24-09-2016, 15:13
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#11499
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,316
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by nashville
Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,
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Good for you!
We had similar doubts after I ordered our 2 8ft leather sofas and I realised that'd it'd take structural alterations to get them in the house but now they're in situ we love them.
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24-09-2016, 15:45
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#11500
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nashville
Join Date: Feb 2011
Location: Rutherglen. Glasgow
Services: Virgin Media
Posts: 5,185
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Re: The Happy Thought Thread Part 4
Thanks everyone. Just need to buy a new rug, to match, as we have wooden floors,
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25-09-2016, 07:32
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#11501
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cf.mega pornstar
Join Date: Jan 2006
Posts: 18,849
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Damien
Paid off Student Loan
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Really, doesn't seem that long ago you were at uni, ugh we are all so old.
Speaking of being old, just when I was starting to feel really jaded about how selfish we'd all become it was heartening to see literally thousands of people doing the night marathon for shine, really has restored my faith but that's a minor mention considering it's raised fortunes for a great cause
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25-09-2016, 20:19
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#11502
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,316
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by Damien
ah ok.
Well I went before they increased the fees and changed the way you pay it back. He will have more debt and I believe they increased the interest rate as well.
However they also pay less per salary band than I did and the debt gets wiped out after 30 years I think. So a lot of people will never pay back the whole amount before it gets wiped. It's better to think of it as an additional tax rather than a debt.
As for mortgages etc. It's only considered in the sense you get less take home pay available for a mortgage. It won't appear in a credit check and it isn't considered a debt in the same way a car loan would be. You don't get debt collectors and so on.
Don't worry about this in the same way you would worry about other debt.
There was a good post from the money saving expert about this, I'll see if I can find it.
---------- Post added at 11:44 ---------- Previous post was at 11:42 ----------
Here ya go: http://www.moneysavingexpert.com/stu...n-fees-changes
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TVM
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26-09-2016, 14:32
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#11503
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Believe in yourself ...
Join Date: Dec 2013
Location: Here & there ...
Services: tv phone mobile broadband V6 and tivo.
Posts: 5,252
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by nashville
Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,
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Glad your happy nash
__________________
A smile is a curve that sets everything straight.
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26-09-2016, 15:54
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#11504
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nashville
Join Date: Feb 2011
Location: Rutherglen. Glasgow
Services: Virgin Media
Posts: 5,185
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Re: The Happy Thought Thread Part 4
Quote:
Originally Posted by weenie
Glad your happy nash
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Thanks Weenie ,
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26-09-2016, 16:50
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#11505
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R.I.P.
Join Date: Jun 2003
Location: Near Sandy Heath transmitter
Services: BT
Posts: 19,325
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Re: The Happy Thought Thread Part 4
.......marmite and toast again for breakfast
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