need some help please

Didn't think I'd ever post on here cos I thought my financial stuff was pretty much sorted but have just found out today that h has a loan I didn't know about, so am sitting trying to work things out. Maybe if I post what we have it might help.

Currently I have -

credit card - £873 (limit £4k, rate 7.9&(bt))
cahoot flexible loan - £563 (limit £5k, rate 11.9%)
Overdraft - £1200ish (limit £1500, rate 0%)

He has -

credit card - £1000ish (limit £1k, rate 0% till xmas i think)
loan - £4523 (rate not sure and has about 2 yrs to go, pymts £185pm)
overdraft - £1400ish (rate not sure, but is authorised overdraft)

Now we also have to pay our share of a new roof for our flat which is £1200 later this month. Am hoping to pay this by credit card and transfer the balance to my other card at 5.9% for the life of the balance. However, if not able to pay by card will need to add this to the cahoot loan.

We really want to get everything paid off asap so we can look at moving house and going travelling etc. Obviously the ones at 0% we will leave till last but am unsure what to do with the others. Am I right thinking the loan he has will have interest front loaded so we will pay it whether we pay it all off now or keep it going till the end of it's term? Was thinking of trying to add this to cahoot but if that's the case it seems silly to pay interest twice. I know he isn't able to make extra payments to the loan, so am thinking we might be better concentrating on clearing my ones with higher interest rates, then moving on to the others. Does anyone have any advice on what way to tackle this as am just getting myself more and more confused!
Total Debt (27th Nov 08) £16,707.03 Now £5,102.72
Debt Free Date [strike]Nov 2012[/strike] August 2011

Comments

  • i am in similar problem
    owe 3300 on a loan and 1500 on overdraft
    written off 2000 to my wife and paying 50/month to mother in law.
    thinking of getting a credit card at 0% to consolidate debts

    perhaps you could pile it all onto some 0% cards and them juggle them about, that is my aim

    jim
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