Newbie With £5.5k Debts that need Shuffling!!

jet77

I am having my 'lightbulb' moment and was wondering if anyone can advise on how to shuffle the following:

Overdraft 18.2% £1500 (Balance)
Lloyds Visa 17.9% £207.82 (Balance), £2500 (credit limit)
Egg 0% til 01/10/06 then 15.9% £2183 (Balance), £2500(limit)
Halifax Visa 0% til 04/03/06 then 15.9% £1591.32 (Balance), £3500 (limit)
Powergen 0% £205.32

I have used the snowball calculator but was wondering if anyone can advise how to shuffle my debts to minimise interest bearing in mind that Halifax charge a BT fee:mad:

CLAPTON

its not worth being too subtle about debt repayments....basically pay as much as possible per month; pay the minimum on all debts except that which has the highest APR to which you pay as much as possible.

before commenting on your 0% cc cards....you say the 0% on the halifax runs until 04/03/06....is that a typo as its already 28/4/6?
as the APRs for egg and halifax are less than those on the overdraft and lloyds, you should make max use of egg and halifax in any case. The egg card doesn't have a lot of spare room but you could use it for spending up to the limit and ensure you pay off a corresponding amount on the higher APR cards.
do you have PPI on any of ther cards..you may wish to consider cancelling.


unless you have already done so elsewhere, your best bet to reduce your debts is to post a SoA and let people here suggest ways of reducing spending.

best wishes

jet77

Thanks Clapton - yes Halifax is a typo 0% doesn't run out til 04/03/07 - basically it's just a case of doing as the snowball calculator tells you then? In that case, DF JULY 2007 I will be!! The end is not too far away

I don't have any PPI on any of my cards and am sticking Budgeting plan and on bright yellow paper on my walls to keep me focused.:cool:

jet77

Typo's all over the above message aswell!!