We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Prioritising Debts
Blue_Lou
Posts: 165 Forumite
Stepdad has a
15.9% Credit Card for £3000 (0% on purchases expiring this month, 0% BT through to September). £1120 has been spent on purchases, the rest is from balance transfers.
12.9% Loan for 8000.
The big question is which would you try and attack (pay off) first and why?
He has just been rejected for an egg loan, we appealed and got rejected again.
15.9% Credit Card for £3000 (0% on purchases expiring this month, 0% BT through to September). £1120 has been spent on purchases, the rest is from balance transfers.
12.9% Loan for 8000.
The big question is which would you try and attack (pay off) first and why?
He has just been rejected for an egg loan, we appealed and got rejected again.
0
Comments
-
0
-
Hi
Even though you've got 0% at the moment on the credit card, there's only a couple of months left. It's the highest APR, so I would tackle that one first.
Also, you could put the figures into the snowball calculator at https://www.whatsthecost.com and that will tell you the best order to do it whilst paying the least interest in the shortest amount of time, depending on how much you can pay each month.
Hope that helps.Back on the DFW Wagon:
CC - £3,300 on 0% til 04/2020
CC - £4,500 on 0% til 02/2019
Loan - £12,063.84 as at 4/1/180
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards