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overdraft charges v new loan
danielleindebt
Posts: 201 Forumite
i know consolodation is bad bad but ... i have an overdraft of 6k which i am currently paying £100.00 a month off but am getting charged 80 -90 a month interest. ( so getting no where fast)
my o/h has offered to get a loan or 0% c.card in his name that would be my responasbility to pay etc. (he has no denbts and good credit rating where mine is trashed)
do you think this is a good idea? im sure in the long run i'd be paying less in interest if i did this? Just wanting another opinion!
thanx
my o/h has offered to get a loan or 0% c.card in his name that would be my responasbility to pay etc. (he has no denbts and good credit rating where mine is trashed)
do you think this is a good idea? im sure in the long run i'd be paying less in interest if i did this? Just wanting another opinion!
thanx
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Comments
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It would only be a good idea if you could guarentee not to run it up again.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
And if relationship is very very strong . One point is I don,t think you can get a % card to pay someone elses overdraft .0
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the only credit card i know that will pay a current account is egg so he could request a credit card and balance transfer to his account and then transfer to you ..... i dont know how much they would give him but any amounts a help AmyxThe loans will pay themselves the credit cards need a kicking :money: DFW Long haulers supporter 132!!:T0
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