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  • FIRST POST
    • adam89p
    • By adam89p 9th Jan 18, 3:48 PM
    • 10Posts
    • 6Thanks
    adam89p
    Debt Advice needed
    • #1
    • 9th Jan 18, 3:48 PM
    Debt Advice needed 9th Jan 18 at 3:48 PM
    Hi all,


    Was hoping for some advice as to whether or not I would be able to do the following:


    First off, I have two main debts that I want to amalgamate into one. Credit card & overdraft.


    I was planning on doing the following:


    1) Balance transfer the existing CC debt onto a 0% balance transfer CC
    2) Money transfer the existing OD debt onto a 0% money transfer CC


    I was wondering if it would then be possible to transfer the balance on the 0% money transfer card onto the 0% balance transfer card so that it's all on one card and then I have the one monthly payment??


    Any help and advice is appreciated.


    Thanks all
Page 1
    • Arleen
    • By Arleen 9th Jan 18, 3:56 PM
    • 1,101 Posts
    • 824 Thanks
    Arleen
    • #2
    • 9th Jan 18, 3:56 PM
    • #2
    • 9th Jan 18, 3:56 PM
    Sure, if you can get two cards with big enough limits that and you are okay with the fees you will have to pay for each transaction.
    • adam89p
    • By adam89p 9th Jan 18, 4:24 PM
    • 10 Posts
    • 6 Thanks
    adam89p
    • #3
    • 9th Jan 18, 4:24 PM
    • #3
    • 9th Jan 18, 4:24 PM
    So it's possible, in a round about way, to put this all on the one card and then cancel the money transfer credit card?
    • enjoyyourshoes
    • By enjoyyourshoes 9th Jan 18, 4:38 PM
    • 920 Posts
    • 1,141 Thanks
    enjoyyourshoes
    • #4
    • 9th Jan 18, 4:38 PM
    • #4
    • 9th Jan 18, 4:38 PM
    The key is to set up DD for the amount required to pay off the card before the end of the 0% term.

    If not then you have not solved the problem, high interest rates will apply, and you will be in an even worse position than you rein now.

    Just read some of the post !

    So, can you afford this ? can you reduce your overspending? can you identify why you are overspending and nullify this?
    Debt is a symptom, solve the problem.
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