Credit Card or Loan?!?

jodilye

Okay.
I have a loan with lloyds for £1700 (not sure about interest right now but can get it). I'm paying this for another 2 years at £81 a month (incuding payment protection). I looked to Zopa to get a loan for £2300, this would pay off my current loan, £500 for my credit card and a little extra for xmas, all for £77 a month (36 months). My application was rejected though, and nw I'm not sure to look at other loans or 0% Credit cards. Or, the horrible alternative, buy not a single xmas present and pay the slow way. Please help, I don't expect huge savings but just enough to buy some presents and enjoy christmas!

[Deleted User]

my honest advice? Dont go into more debt to pay for xmas pressies,just buy small gifts for close family and let the rest go without,this time next year will be better(it always is if you dont get into more debt for this xmas)

michael1983l

You should never go into debt to buy people presents. Presents should only be bought with money you have.

vaporate

I agree with the above posters.

This will sound coy but, wouldn't the best present this year be setting the road foundations to being debt-free. :money:

jodilye

I completely understand what you're all saying, I know I should not be spending more when I have so little! I don't intend to spend too much on presents, but I am concerned that even if I spend as little as possiblte, after my running costs of getting to work I will be stuck with nothing for the rest of the month. Maybe I'll wait until I am at that point and then worry about it. Thank you