please help with my situation! details provided.

angelicmary85

train fare's an interesting thought, and one i will look into!


I came across the video of it randomly...I tihnk it was on youtube!! It takes a bit more time but could save you a fortune apparently (I say apparently as I've never had to do it but if Martin says it then you have to believe it!! )


And perhaps now the sun is shining, I could buy a bike!


Should you really be spending??? :rotfl:

cryforadvice

angelicmary85 wrote: »

And perhaps now the sun is shining, I could buy a bike!


Should you really be spending??? :rotfl:

hahahahahahahaha!!

angelicmary85

Walking is free...although it takes more time and alot more effort!!

cryforadvice

What is the reason for not consolidating loans though please?

8000 consolidated, vs 10000 separaelt, must be appealing?

angelicmary85

I'm not sure of the offical reason (but will go and have a look to see if I can find out)...just don't do it!!

angelicmary85

cryforadvice wrote: »

What is the reason for not consolidating loans though please?

8000 consolidated, vs 10000 separaelt, must be appealing?

O.k I had a little look (someone please correct me if I'm wrong!) but it looks like you don't get a consolidation loan as the APR can be much higher meaning you pay back more.

Fire_Fox

cryforadvice wrote: »

well my utilites are £200 per month, so I randomly put £50 into each of 4 separate utilities on the form. They are pretty much fixed as I share services with others and that's my contribution.

Which leads me to the only point I'm still stumped on, which is why it wouldn't be better to consolidate my two loans?! Is this a rule of thumb?

Is your name on the utility bills? If so you can easily look into switching supplier. Whilst your council tax payments look reasonable for a shared house, your other bills are very high. If possible you should be looking at who is using all that energy/ making all the phone calls (do you really need a landline and mobile phone?)! For comparison I pay £17 a month for my electricity - two person household - no gas or oil in property.

Consolidation almost always leads to the debts building back up again, read round this board and you will see many SoAs with several loans and cards. People end up opening new cards to pay off other cards or meet monthly repayments ....

Twinkles08

Hi try not to get a loan to consolidate,seems like a great idea at the time but it really isn't unless you have tons of willpower and will close your credit card accounts down and chop cards up etc.I had full intentions of only using my cards for emergency (just in case etc!)when I took out my loan to clear my cards.But before long I had a £3000 loan (closer to £5200 with int and ppi)and 2 maxed out credit cards ekkk.I would say 80% of people start spending again 'cos they haven't learnt to stop spending-if that makes sense?Sorry for the rambling!

RAS

Hi

Although the APR and monthly payments is lower in thw short term, since they are over a fixed period, you often, in fact usually, end up paying more than you would to repay the CC.

Play with snowball here http://www.whatsthecost.com/snowball.aspx

When do your loan expire?

The otehr thing is that people tend to take out the loan and then rack up for CC debt, then consolidate at a worse rate, then start usign the equity in the house, then , then and end up in a real fix.

natsplatnat

DONT DO IT!!! I too took out a consolidation loan - "to put all my debts in one place, nice and easy to repay!!" But that was for £10,000 and now my total debt stands at £19,000 (including £6,500 left on the loan!!)

Unless you have amazing will-power (and without sounding horrible, would you be in debt if you did!?) you are going to carry on spending and end up in more debt!! There seems to be plenty of us who prove this theory!! lol

Good luck on your quest, definitely have a look at the train tickets.... you might find it cheaper to buy a return ticket for the zone outside London and then a return for the zone in London.... or even more single tickets!!

Nats x