Advice required - consolodating loan

Woody619 · 22 June 2007 at 12:44PM

Not a good idea consolodating loan, only I had know what I know now 1 1/2 years ago.

lynzpower · 22 June 2007 at 12:58PM

davep1982 wrote: »

My income at the moment is about 17.5k a year.
When I move home I will have 2 new jobs, one fill-time and one part-time so this should go to around 20k.

Im applying to join the police as well so that would help :-)

heres a tip from someone who has been burned many a time

NEVER base your finances on what COULD happen in the future. Its a recipe for purte disaster.

Just pay off your debts as clapton says, and use the snowball calculator to see how much interest you would be paying.

davep1982 · 22 June 2007 at 1:26PM

Thanks guys.

Ive now decided against the new loan since I found the snowball calculator - I have prinited out my plan using it and I should be debt free within 21 months hoefully less!!)

I had no idea the thing existed its great!

Everyone I have spoken to and the opinions on here has made my decision about a consolodation loan.....its probably not the best idea!

Ive set up standing orders for my credit card payments for the fixed amounts the snowball calculator came out with so they come striaght off when I get paid.

Thanks for your help guys so far, and i'll be sticking around for motivation and to read some of the other stories on here!

Lucy1982_2 · 22 June 2007 at 1:38PM

Well Done.

Sometime we just need to see things in black and white don't we. But good luck with your journey and let us know how you are getting on.

lynzpower · 22 June 2007 at 1:53PM

davep1982 wrote: »

Thanks guys.

Ive now decided against the new loan since I found the snowball calculator - I have prinited out my plan using it and I should be debt free within 21 months hoefully less!!)

I had no idea the thing existed its great!

Everyone I have spoken to and the opinions on here has made my decision about a consolodation loan.....its probably not the best idea!

Ive set up standing orders for my credit card payments for the fixed amounts the snowball calculator came out with so they come striaght off when I get paid.

Thanks for your help guys so far, and i'll be sticking around for motivation and to read some of the other stories on here!

:T :T brilliant!

Now if you want - join in with some of the oneymaking challenges we do on here too - selling some stuff on ebay, making extra money here and there

Soon enough, if you slice back what you spend, and make more on top, youll have so much money you wont know what to do with it

like me

Advice required - consolodating loan

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