payment breaks

servalan

Hi all

I am currently just looking at the best way to clear my debt have previously posted my soa and got some great help. just been onto the snowball calculator and come up with a idea but don't know if its good or bad . As one or two of my credit cards are high APr detailed below and i also have two loans with lower apr . ONe of the loans i can def take a three month repaynment break and the other waiting for them to get back to me now if i took these breaks i would put it onto one of the credit cards . i am aware that my loan will be extended longer but paying it of a higher apr . details below. hope this makes sense .


cc 1 APR 15.95% balance £3351.41
cc 2 Apr 18.9% balance £318.57
cc 3 APR 9.8 % BAlance £2852.99
LOan 1 APR 7.7% Balance 4994.91 finish 01/12/09 monthly payment £135.64
Loan 2 APR 5.8% Balance 5940.06 Finish 3/10/09 monthly payment £163.27

Thanks guys you've helped me loads

Emmzi

so a break would let you pay off cc2?

I'd be tempted just for the psychological benefit, but where's Kevicho and his big calculator??

Are the loans flexible i.e.could you pay extra to them each month when you have finished paying cards?

servalan

loan one is flexible can pay more without any penelties at any time still waiting to here back from loan 2