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Credit Card Payment Protection

user051105
user051105 Posts: 652 Forumite
in Debt-free wannabe
I am in a stable job, (hopefully Royal Mail). Is paying £27 a month in payment protection on my £3000 credit card bill worth the expense. At the moment I can afford to make payments of £125 a month but £67 of this is PPI and interest. So without ppi I would be paying more of the debt each month.

Any suggestions.
Debt Free Wannabee - Updated 13/08/2007
Barclaycard - [strike]£3002[/strike] now £1712 Mortgage - £84,393 - Paid in 340 months time.

Comments

  • AGB863
    AGB863 Posts: 521 Forumite
    Part of the Furniture 100 Posts
    You have answered your own question.

    A lot of PPI are not worth the paper they are written on - so I would cancel it.
    I am a debt counsellor working in the voluntary sector - we don't charge our clients for the work we do!
  • $17mma
    $17mma Posts: 2,623 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I would say no it is not worth it.

    Take a look in the CC board/loans there are loads of threads relating to PPI.
    MFWB
    Mortgage when started: £232,000
    Current mortgage Sept 2024: £232,000
    Mortgage free day: Sept 2029

    Saving: £12k 2025
This discussion has been closed.
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