Looking for advise

phil999_2

looking i actually have one of these http://www.moneysupermarket.com/Cards/PreApply.asp?CardID=775&d=1with a 7k limit although the card was destroyed i wonder if the 4.9% would still stand?? If so would that be a better option?

phil999_2

another option...

A family member might loan me 5k so with this would it be better to somehow use the following

My 7k BA amex card (which i believe will do the 4.9% lifetime balance card)
a 0% halifax card for 6 months which my mortage provider has promised me if i want it.

Is there some sort of calculator to work out what the payments would be???

Any advise would be greatfully appreicated.

UPDATE:

I have just spoken to AMEX and my card was cancelled i only get statments due to having a plus balance of £2 and also the minimum payment on 10k would be 3% £300 which would put me in a worse situtation so i am better off adding the 10k mortage

skintchick

Try https://www.whatsthecost.com/snowball.aspx to work out payments.

phil999_2

OK i thought i would update everyone on the progress

Added 11k onto my mortage, also my good finance manager managed to wipe 9 months off my payments as well

Cleared First direct overdraft of 1k and withdrew it.
Cleared work's diners card £600
Cleared 3k first direct visa card
I am now left with 13k on mbna and 11.7K in my bank account
So i am now roughly 1.3k on my mbna card (i dont know the exact amount until the 11.7k clears my account and i pay it to mbna) i then have applied for and been granted a 3.5 halifax card 0% for 12 months which i will transfer the 1.3k onto.

I have already earnt £140 from quidco i will get over the next couple of months and i am now setting up as self employed to earn extra to pay off the remainder on the hailfax card.

phew...

So this will leave me

£1300 on halifax at 0%
£89k on my mortage which is fine for 22years.
£17k left on a first direct loan at 6.9% it was over 7 years but now finishes dec 2010. £299 a month.

Now my question is this

I am now looking at the FD loan. Would it be advisable to borrow the 2.2k from the halifax and take it off my loan?? or would swapping the loan to a different provider help? what are the chances of getting a better rate than 6.9%? I should add this was a 20k loan and has approx 17.6k left the total payale back on the orginal 20k was 25 i believe.


Payments

In doing this i have reduced my payments from

£229 to mbna
£85 to FD visa
£50 FD overdraft
£489 mortage

to
£555 to abbey for MOrtage


Thanks as always for any advice without this site i would probably not been able to do it..


ps in addition to the above i have reduced my tescos bill and earnt over 4000 clubcard points

phil999_2

So i thought it was time i updated everyone on my progress

I have no cleared and cancelled all cards except for 2200 which i transferred to 0% on hailfax and am trying to clear although not too successfully.

I now i my father a few K but i have setup my own company to give me some more income it has made a loss for the first 3 months but is about to turn a profit which is good and any profit will goto debts.

I got a loan settlement figure for the 25k loan which expires in dec 2010 and was pleased there is only 15k left on it.

for the last 3 months i have not gone more into debt which is the best news for me. In addition to this i have about £500 in clubcard vouchers. ;)

Thanks to Martin for the site and everyone's advice and help.

Phil