Anybody got £35k?

hueygeorge

Good Evening
At least you are making positive steps towards sorting your debt problems out which is more than what I am doing tonight! I am currently enjoying some wine - its been a long week at work - and I'm dreaming about how I'm going to spend the £100 million I'm going to win on the Euro-Millions tomorrow night! I am trying to sort my debt out but I've given myself a night off and I'm hugging the ticket that I've bought with expectant glee!!!

I'm not saying that this is the way to sort your problems out, and I'm sorry that I haven't given you any solid advice. I suppose I'm just saying that 'Yes, I'm in debt but for one night - so what! If I do happen to win then the drinks are on me tomorrow night!

Anyway, Good Luck - I hope you get something sorted out and try not to worry about it - easy for me to say with my wine-goggles on I know!

Anyway, gambling is a fools game I know but for £1.50 give the Euro-Millions a go - you've got to be in it to win it!

Karren

mountainofdebt

Skinted wrote:

We're paying well over the minimum repayments on most of the cards and with the exception of the £15k and £3.5k debts are well within out credit limits on all of our cards - unfortunately we haven't got any life of balance deals available to us to transfer these debts otherwise we would. This is why we've applied for the Amex card.

I know Martin says never to pay the minimum payment if you can help it but would you not be better off by paying minimum payments on all your other debts and then puting the difference to the debt with the highest APR (ie your £15K debt) to get rid of that first???

Once this has been paid off I would then tackle the debt with the next highest debt (ie the £3.5K debt)

This is commonly known as snowballing and will reduce the overall amount of interest that you pay back.

I've also found that keeping the payments the same each month a faster way of reducing the debt. As mentioned on another thread what I have done is say one month my minimum payment is £70 and the next month it falls to £67, I have put the extra £3 towards my debt with the highest APR.

Another tip (to make you more attractive to LOBT/0% deals) is to reduce your limits on your credit cards. y doing this you will reduce the amount of credit available to you and companies won't be so nervous about accepting you - provided you keep up the payments etc!

matey

Skinted wrote:

We currently have two extras that we need to cut down on and that is Sky and my mobile phone. Our Sky service is needed because we can't get a decent TV picture where we are, but we have had movies on for the Christmas period and I've not had chance to switch it off yet.

Can I suggest that you go to www.digitalspy.co.uk a forum for all telly talk. The guys there will be able to help you in diagnosing your reception problem.

Then ditch the Sky and go Freeview. There is an alternative to sky FreeSat but they will be able to help I'm sure.

inmypocketnottheirs

Might be a risky strategy but how about phoning your exisitng credit card companies and asking them for a settlement balance as you have been offered a 4.9% (or whatever) life of balance card. It might encourage them to reduce their rates a bit.

Thefunkygibbons

Good start but still work throwing a statement of income and expenses up here as we may be able to spot other opportunities for you

Then we can work out a debt free date and that gives you a target to work towards

arrowsmith

matey wrote:

Can I suggest that you go to www.digitalspy.co.uk a forum for all telly talk. The guys there will be able to help you in diagnosing your reception problem.

Then ditch the Sky and go Freeview. There is an alternative to sky FreeSat but they will be able to help I'm sure.

Don't need to go freeview, just cancel your sky subscription and use the skybox to watch all the free channels.