were next for debt

befree

has anyone any idea whats best to do just keep being a card tart! ? i have tried to get a loan unsecured with a few companys but they say i owe too much on cards ggggrrrrr i cant make em see this would be a consolidation they take all card payments into account then say i wouldnt be able to afford it!!!! most people on here are suggesting just stick with the way i am already any ideas?

Me_Myself_2

Consolidating loans is not usually a good idea. This is because most loans add the interest payable in advance, so even if you want to pay it off in full very early in the loan, you still have to pay almost all of the intrest.

You need to compare the APR's and the T&Cs.

E.g. Can you pay your loan off early if you get extra money? Not usually
Do the loan company you are interested in pre-load the interest? Probably
Can you pay your credit card off early? Yes of course.

You need to look at all of these things before you can come to a decision.

The usual advice you will get here, is to try and use the cards you have to reduce the interest rates you are paying. I.e. move your debt around and then once you have a card that is clear of debt (Double check that it is)haggle with that card company for a reduced rate (maybe even 0% for a whole or a Life of Balance rate).

Hope this helps.

:xmassign: :xmastree: :xmassign:

befree

thanks what you have said makes alot of sense i have a few to play with and so will try and percivere thanks again ill sleep better 2 nite lol