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Oveerdraft Advice please
get_me_debt_free
Posts: 311 Forumite
Hello Every One,I just need to ask a question.. I currently have a Overdraft (HSBC)of 590, Can anyone give me some advise on how to get this down.. I mean shall I transfer it to my Tesco Card at 0% till june 09, or just pay it off. (they charge 3% to BT, if they do it to a current account or virgin at 0% till jan 09) or as i have just opened a A&L Account shall I put it over to that account? as thats 0%.
any help ?
:cool:
any help ?
:cool:
BR on 21st December 2009.. life begins!
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Bumping need adviceBR on 21st December 2009.. life begins!0
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You may get a better / quicker response if you post in the Credit Card forum, click hereClick here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
That would depend on the amount of interest being charged on the overdraft and how long you think it would take to pay it all off.
The problem with doing a BT to an overdraft though is that most cards see this as a cash advance or money transfer. This would incurr interest as it is not a straight forward balance transfer and would probably not get the 0%. You would need to be sure it was a "super balance transfer" where the money transfer would be treated the same as a BT and get the 0% promotional rate.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
thanks x
no nearer to know what to do tho!BR on 21st December 2009.. life begins!0 -
Are you being charged interest on the o/d?
Do you have a virgin card? I believe if this is a new card then it will allow a SBT - not sure about for existing customers.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110
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