how to become debt free
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ihatemyhouse
Posts: 279 Forumite
am moving house in dec/jan to a smaller house, should be at least 400 a month better off
what is the best way to be debt free and the first thinks I should be doing
do I go after the credit cards, or ask to stop them and freeze them and set up a payment plan (not that bothered about using them)
the debts I have are
OD 500
Vanquis CC 1800
Capital One CC 1500
Barclays CC 1000
Holiday 2400
this year has been a disaster finance wise, moved hosue, that cost us a fortune to run and never really recovered from it, so that's why we are moving
any ideas
what is the best way to be debt free and the first thinks I should be doing
do I go after the credit cards, or ask to stop them and freeze them and set up a payment plan (not that bothered about using them)
the debts I have are
OD 500
Vanquis CC 1800
Capital One CC 1500
Barclays CC 1000
Holiday 2400
this year has been a disaster finance wise, moved hosue, that cost us a fortune to run and never really recovered from it, so that's why we are moving
any ideas
0
Comments
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First you need to do an SOA so they people can advise better. You need to see where your money is going before you can work out how to pay things off.Squirrelling away in September No 33It's not about the money, it's about financial freedom, being in control of it and living in the natural world and not a material world0
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been looking for the budget thing on here, but cant seem to find it0
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Squirrelling away in September No 33It's not about the money, it's about financial freedom, being in control of it and living in the natural world and not a material world0
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If you have been making the minimums up until now then you won't have any defaults. If you have already missed payments or had any defaults then your credit file will be affected.
Obviously paying them off and not asking for a payment arrangement would be better if you haven't already damaged your credit file.
It depends on what you can now afford as well. Generally it's best to pay the minimums and then any spare to pay off the highest interest debt first.
dfMaking my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0
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