Thank God The BBL Is Now Sorted!

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Paul Kelly ICHYB

Paul Kelly ICHYB

Moderator
    • Jan 21, 2008
    10,097
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    icanhelpyourbusiness.co.uk
  • #1
    Well, the last payment of my BLL was made yesterday.

    Whilst it wasn't a massive monthly payment, it was enough to make a difference on an annual basis.

    The question is now, what do I spend the extra wonga on?

    Anyone else finishing their repayments?

    BTW, I wanted to post this to let outsiders see that not all businesses try to dodge their liabilities by closing their business (but I am lucky my business is relatively stable, indeed, growing a little).
     
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    Karimbo

    Free Member
    • Nov 5, 2011
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  • #2
    Bbl you mean?

    I used the money when it was interest free. Then I aggressively repaid iit when interest was due, because im a cheapskate and hate paying things I dont need to.

    I think I paid it off fully in one year (into year 2 of the loan)
     
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    Ozzy

    Ozzy

    Founder of UKBF
    UKBF Staff
    • Feb 9, 2003
    8,378
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    Northampton, UK
    bdgroup.co.uk
  • #3
    We had a CBIL; our bank practically insisted we take it even though we didn't need it. Our account manager from the bank advising me we won't find money as cheap as this again to take it while it's hot.
    We earned more income interest from it than the repayment interest on the loan, eventually, but we repaid it (250k) just over a year ago, as we didn't like it sitting there and having to report a liability.
     
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    fisicx

    fisicx

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    Sep 12, 2006
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  • #4
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    Paul Kelly ICHYB

    Paul Kelly ICHYB

    Moderator
    • Jan 21, 2008
    10,097
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    London
    icanhelpyourbusiness.co.uk
  • #6
    • Haha
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    WaveJumper

    WaveJumper

    Free Member
    • Business Listing
    Aug 26, 2013
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  • #7
    Paul Kelly ICHYB said:
    You only live once!!
    Click to expand...
    Yep this ain't no rehearsal although that may depend on what your beliefs are. On a more serious note though having lost some very close friends over the years it's certainly made me think what the hell am I procrastinating over that new boat..... just buy it and I've never regretted it
     
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