Hi everyone, here goes...!

Silky_Racing

1234567890

Merlot

mmm, you don't have much to trim off your SOA, the good news is that you have only 5 more payments before one of the loans end and it means you have an extra £400+ per month towards the other debts.

You have got to stop all unneccessary spending as from today, start a spending diary for things like, erm, lAftershave etc.


Merlot.x.

welshgirl78

Think he's a guy!!!

Merlot

welshgirl78 wrote: »

Think he's a guy!!!

I noticed that after re-reading the first post, I blame the wine:D or maybe I need a trip to specsavers:rolleyes: ..

Merlot.x.

GeorgeUK

Have you had a look at your credit file? You can do this free at experian (If you cancel within 30 days). I suggest you have a look to see how many credit checks you've had in the last 6 months. Have you had any late payments or defaults?

I think the best thing right now is to turn you into a tart
But there may ve some extra room to manouver depending on the answers to the above.

Silky_Racing

1234567890

GeorgeUK

Remember you don't want too many credit checks at the one time and may require a 0% card around February. I would definately try the 0% BT rather than a loan.

Might be worth putting your details into the snowball calculator
https://www.whatsthecost.com/snowball.aspx

I'd go for the virgin money card as this is for 15 months and minimum payment from 2nd-15th month is £25. Do Cap1 have any offers like that? Even if you can't get the amount you want as a credit limit, you just need to clear one of the cards to try tarting. After you clear a card and have a nil balance on it, you may be offerred a 0% or Life of balance (LOB - low APR) deal to keep the card open. This will allow you to transfer money and pay less interest. As you are an existing customer - there usually isn't a credit check done.

Then you do the usual, pay minimum to all then throw everything remaining at the debt with the highest interest.

Silky_Racing

1234567890

GeorgeUK

I wouldn't try for a loan - usually false economy to consolidate. You shouldn't really pay credit with credit, but as it's about 6% with a LOB card and hopefully you can get 0% then even after the transfer fees you are saving. Just remember to do only a couple of applications at most. Also try to be subtle when trying to get other incentives. Instead of just asking, you caould ask to close the card - if they ask why, "i've got other cards that i need to clear". If they don't offer an incentive then you can ask if there are any promotions running that they can offer. If they still put you through to close your account, you can hang up and try again later.

When you get around to dealing with the loans, you should try to get a card that will do a super balance transfer (free money transfer (which virgin and MBNA can do)), so that you can not only do a BT to another creditcard, but also to your current account. Then you can use the cash to pay off the loan.

Remember - if you miss a payment on the 0% card then you will lose the promotional rate. Make sure the first payment goes through and set up a SO or DD so that the monthly payments are made on time. Also NEVER spend on a 0% or LOB card. Your payments will clear the lowest APR debt first and your purchases will keep getting charged interest at the standard rate until everything else is cleared.

Ames

Just a point on your soa, there's petrol down but not tax, insurance or maintenance.

A loan's not really a good idea as others have said, a lot of people on here, myself included, have taken out loans, cleared credit cards and then run them back up.

And welcome from a fellow Yorkshire person!