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old_hat · 20 October 2016 at 12:14PM

May 2014 - total debt £31,900 over 7 credit cards

* Took out a debt consolidation loan with Natwest of £25000. I know that these are not for everyone and we will have paid back £31k in total on this loan - but it worked for us. We also took out a credit card of £6900 to cover the remaining debt.

We have paid £871 off the loan for the last nearly 30 months and tried to pay the credit card off but have been using this more wisely for unforeseen bills etc.

*October 2016
Total debt - £5789 loan remaining (6 payments to go)
Credit Card £3100 (6 payments of 600 to pay this off)

Debt free by May (and subsequently - apart from mortgage debt - never again!)

lazer-zxr · 20 October 2016 at 12:18PM

Great progress, well done.
Nice to see someone else benefit from a consolidation loan. We've also used this method and had great success from it (see signature).
Not long to go now for you .... what will be next ?

Will you go for your mortgage? Pension? Or just relax for a little while

Six months to go ....race you to the end?

old_hat · 20 October 2016 at 12:23PM

lazer-zxr wrote: »

Great progress, well done.
Nice to see someone else benefit from a consolidation loan. We've also used this method and had great success from it (see signature).
Not long to go now for you .... what will be next ?

Will you go for your mortgage? Pension? Or just relax for a little while

Six months to go ....race you to the end?

We are in the process of trying to sell our flat to move into a new property that will be a more permanent home so the money could help pay for a house on an increased mortgage - we are in the South East where it is expensive

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