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newbie needing help
miss_m_4
Posts: 1 Newbie
hello all,
I have credit card with about 900 on it paying 0% till sept but just found out partner has a credit card with over 2000 on it and paying interest and he has another with about 300 on it and paying interest on that too. He wants to consolidate all debts i am not so sure that is the right move help.
I have credit card with about 900 on it paying 0% till sept but just found out partner has a credit card with over 2000 on it and paying interest and he has another with about 300 on it and paying interest on that too. He wants to consolidate all debts i am not so sure that is the right move help.
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Comments
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i'm sorry i can't offer you advice on your problem, someone will be along in a moment to do that, but welcome to the boards.
my personal opinion is not to consolidate them, as you may end up with more debt in your name,
best of luck though,£2 saver club 30th sept 198 £2 coins = £396(£350 banked)0 -
Move the lot to a 0% CC if possible."A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." Mark Twain0
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I can't offer help in what to do ultimately but only in the fact if you can get exact amounts and the interest rates for each this will help people to advise you on what to do. Don't worry the guys on here are great.
Keep smiling your in good hands:)Lightbulb moment 19/06/2006 £14,835
Debt currently £12,362
Reduced £2,473
Once the journey begins things can only get better0 -
Why not pop up an SOA to see if we can find you more money from your outgoings? Consolidation isnt getting debt free, its being in debt for longer
:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
hello and welcome!
when you say 'just found out' do you mean he volunteered the info, or you found out? and does he want a joint consolidation loan or just for his portion of debt? In either case, I'd advise against a consolidation loan - as lynzpower says, you end up in debt for longer, and usually pay more in the end.
onestepWhen people show you who they are, believe them the first time0 -
welcome to the boards! I would suggest that you keep a diary of your spending (& your partner does the same), post an SOA as suggested and would not consolodate - while seeming easier, the amount of interest you pay long term is invariably more than paying your credit cards off as quickly as you can. As suggested get all debt onto a 0% card if you can and if you cant pay off the onewith higher interest first..if you do a snowball calculation this will show how quickly you can do it! Good luck & well done for tackling it before debts get out of control!Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.0
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http://www.whatsthecost.com/
snowball calculation here...Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.0
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