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Am I doing the right thing?

StartingAgainKayla70 · 2005-11-13 20:23:43

Hi I shall come straight to the point as I need to ask advice whether or not I am doing the right thing. Loan of 10k Credit card 0% 6K Totalling to a monthly payment of £267.00, which we cant afford. We are thinking of taking out a loan of 16k over 15 years, is this the best way, or is there another alternative. I would…

Comments

fatbelly Posts: 23,744 Forumite

14 November 2005 at 8:47PM

Michaela - just noticed your thread. Lots of good advice here. But I thought I'd point out that the main problem with your proposal is that it looks like you would be moving unsecured debt to secured debt and that's (almost) never a good idea. Keep us posted on how the moneysaving progresses. Best wishes.

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