Loose the credit card debt!

skintchick

BUT....once you've posted your SOA we might find more cash to snowball with, which might make a bigger difference, so post that SOA and see!

VX_Foxy

Look who's cracking the whip! :T

I'm appreciating the support!

Bestthingsinlifearefree

.....yep you are still kidding yourself........

you are not solving or dealing with your debt or what caused the debt by taking out a new loan / new debt.

If over the last few years you have not been living within your means consolidating your debt WILL NOT help as you will STILL not be living with in your means or addressed the cause of your current debt.

as most people have said consolidation is usually more denial and the road to more debt.

Do you want to be back here in 2 years saying I have a 19K consolidation loan PLUS lots of fresh new debts gained since I took out the consolidation loan.

Why take out a 7.5% loan when for example you maybe able to balance transfer some of your debt onto a 0% CC or sell some stuf on e-bay and pay of some of that debt straight away.

Post your full SOA. Then people can advise you.

Sorry to be direct but we want to help you.

Good luck !!

Little_Miss_Winner

Does that make sense or am I still kidding myself?

A: Still kidding yourself!!!

Would hate to see you back in a years time with a c/loan of £15k, and newly run up credit cards of another £10k !.......See it all the time on these boards, you will be lulled into thinking wahey I have no debt (cc wise), we will get one just for ""Emergencies""....New Baby, beautiful prams, accessories, nursery things, clothes etc.............................Been there done it, i'm afraid!

pot
xx

Little_Miss_Winner

OOOh ..... SNAP best things.

Great minds think alike!!!

in*the*red_6

VX_Foxy wrote:

I can see that the SB route would be massively better than a long term consolidation loan but given the marginal difference between SB and the 5yr loan I'm thinking that the loan could be a better option as it would require less discipline on my part!

Does that make sense or am I still kidding myself?

Hi Foxy

Trying to get out of debt requires a lot of discipline I'm afraid. There's no magic solution and as others have said, if you don't change your spending habits and start analysing every penny you spend then you're very likely to end up in even more debt. You need to know the APRs on your debts, exactly what you owe to whom, have spreadsheets detailing your payments and your monthly spending and know how much you can make available each month to start bringing the balances down. Shuffle your cards around to get them on the best rates possible and then target the debt with the highest APR first while keeping up with the minimums on the others and you will start to make inroads.

Good luck

ITR

VX_Foxy

Bestthingsinlifearefree wrote:

Sorry to be direct but we want to help you.

No need to apologise! I know I'm gonna need a firm hand to get me into shape

VX_Foxy

potogold wrote:

.............................Been there done it, i'm afraid!

Me too! More than once :rolleyes: ...but I (hopefully) have someone else to think about now! :cool:

Bestthingsinlifearefree

VX_Foxy wrote:

Me too! More than once :rolleyes: ...but I (hopefully) have someone else to think about now! :cool:

This is the point why we need the SOA.

ie will maternity leave change your levels of income. If you are struggling now how will a salary reduction helps things etc etc.

Congrats on the pregnancy, the little un is all the motivation you and your OH need to start getting the family finances in order.

The time for positive action is now.

1)start a spending diary with your OH
2)Post a full SOA.