can you help me with my master plan?

worto03

Hi,

I'm new here so thanks for any advice. I'm trying to help my girlfriend out. We are happy with the trust side of things as we have rented together for 5 years & have just brought a house (well mortgage obviously) 6 months ago.

Is it OK to post personal financial information on here as long as me & my girlfriend don't mind.

I'm asking because I don't think you will be able t offer any advice without knowing our wages & approximate outgoings.

Just checking before I go into details, I don't want to upset anybody.

Cheers,
worto.

worto03

I've had a better look around now & other people are in thier posts so here goes.

This is our financial situation :-

I take home about (my wages vary a bit due to oncall money)
wages outgoings
1500 200 (paying off debt)
280 (into joint account for bills etc)
500 (mortgage)
50 (insurances)
30 (car insurance)

Now I owe 4000 on an interst free card which is what my first outgoing 200 a month pays off & anything left at the end of the month

My girlfriend takes home
wages outgoings
1070 280 (joint account for bills ect)
21.64 (car insurance)

My girlfriend owes £16500 which is the problem.

this is spread over 2 loans & a few creditcards who are all charging a lot of interest & the amount is only going down by about 1-2 thousand a year.

She can happily pay off £500 a month which would clear the whole lot in 3 years (at 5.5%)if she borrows nothing else but should we apply in her name or mine?

I earn more but have recently got the house in my own name so thought that the lenders wouldn't like me trying to borrow another 16500 already. She has more spare cash without all of the payments going out but I wasn't sure if she would get the 5.5% rate with the amount she owes compared to her wages?

Thanks in advance for any ideas\help.
worto.

Little_Miss_Winner

Hiya, Think this may be best placed in the *debt-free wannabe* as there would be a lot more views over there, I havent got a clue how to move ya, but perhaps someone may be a long in a little mo....................In the meantime I will get my thinking cap on for you!

pot

worto03

sorry - I put it in loans because it's a loan we need really but if it's better to be moved for more views can a mod please move my thread.

debt free is certainly the aim.

Cheers,
worto.

Little_Miss_Winner

Perhaps if you just copy and paste it, and move it over it will be quicker..................see ya in debt-fee wannabe land :hello:

Little_Miss_Winner

Where have u gone?

worto03

:doh:

LOL - doing it now - I was waiting to see if a mod moved it. does my head in when you end up with 2 posts saying the same with diferent people replying all over the place!

Cheers,
worto.