Whats the best option to pay it all off???

tweacledum

Hi - I've got about £10000 in debt amongst 5 credit cards and 2 personal loans. I'm paying about 450 p/m between everything and the balances on the cards is hardly moving. I'm thinking about taking out a loan for £10k to pay it all off over 5 years at about £200p/m. What I'm trying to find out is are there any loans out there where you dont pay off the interest first so that if in a years time I have the funds to pay off the balance I dont have to pay more than the initial loan amount. The loans I have at the moment are the type where after you've paid for a year you still owe more than the initial amount as ytou pay the interest first. Help, please!!!

CLAPTON

No loans pay off the interest first and no loans require you to pay more than the initial loan.
If however you take out PPI or similar insurances then obviously you need to pay for these.

However if you can get a 10k over 5 year at 200 per month the take it.

otherwise provide full details of income , spending, debts, assets etc
see http://www.makesenseofcards.com/soacalc.html