We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help or advice please
redryan
Posts: 2 Newbie
I was wondering if anyone here could offer some advice that could help me deal with my debts a little bit quicker than i am at the moment because i just cannot seem to get them down.
I currently have a,
£300 overdraft with halifax (a student account)
£200 overdraft with halifax (a current account)
£1500 over draft with natwest (a graduate/student account)
£450 credit card with halifax
I tried to get a grad loan with natwest as a means to pay off all the debt and then simply pay them off but i was turned down. Is getting a loan the best idea? I want to pay off the debt but its annoying having to transfer money from here to there. My wages (around 1160) a month go into a first direct account which is joint with my g/f. My base estimated out goings are around £750 a month, thats all my bills, rent, debt payments etc.
If anyone can off some advice to make the debt repayment or cutting down easier i would be much appricated.
Thanx
I currently have a,
£300 overdraft with halifax (a student account)
£200 overdraft with halifax (a current account)
£1500 over draft with natwest (a graduate/student account)
£450 credit card with halifax
I tried to get a grad loan with natwest as a means to pay off all the debt and then simply pay them off but i was turned down. Is getting a loan the best idea? I want to pay off the debt but its annoying having to transfer money from here to there. My wages (around 1160) a month go into a first direct account which is joint with my g/f. My base estimated out goings are around £750 a month, thats all my bills, rent, debt payments etc.
If anyone can off some advice to make the debt repayment or cutting down easier i would be much appricated.
Thanx
0
Comments
-
Hi and welcome to the boards!
Someone, will post up a link to the Statement of Affairs form, which will help you work out exacly what you have left each month.
Speaking from experience, a loan is not the way to go. Best thing will be to work out the interest rates you are paying, and all your minimum payments, the idea then is that you pay the most money the the debt with the highest interest rate. Which will probably be your credit card.
But I was suggest making cut backs and paying the debts off that way. But more people will be along soon.
Good luckCurrent debt - £16,300
Debt at worst 17/03/2011 - £18,067.62:eek::eek::ANot going anywhere else, ever again :A0 -
https://www.makesenseofcards.com/soa.html
Post all your outgoings etc into this along with loan %.
I would also suggest adding the monthly cost to things that you pay yearly for e.g christmas. It will show you you're ideal SOA.
Then it can be worked on and juggled about0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards