A little guidance please?

floridadreamin

Hello, I have been lurking around this board for a considerable time now and wondered if anyone could please point me in the right direction.

I/we currently owe the following:

£2880 Northern Rock loan 6.9% until Aug 09. This is a flexible loan with min repayments of £69.00 First payment is due in Aug 06. If I over pay it does not change the min payment just reduces the term.
£1796.07 Halifax 0% until Feb 07 then 15.9% Min payment £40.00
£1729.35 A&L 0% until Jan 07 then 15.9% Min Payment £40.00
£4699.50 Halifax(Hubby) 4.95% LOB Min payment 2% of balance. I have been throwing any extra at this as it appears each month.

I have approx £320.00 to throw at this debt each month, yesterday however I noticed that Mint are offering 0% on BT until May 07, 15.9% after. In addition they are giving 0% bonus offer until 1 Jan 08 on new balances transferred in Jul 07. There is a BT fee of 2% payable on each transfer.

I wondered if one of you wonderful people could point me in the right direction as I believe that it would be worth transfering some of the loan balance in order to keep the interest down but I'm not altogther sure how to go about it. Should I split the loan over the 2 periods as I'm not sure that I would be able to complete the £2880 in approx 9 months?

Many thanks in advance for any suggestions.

in*the*red_6

Hi florida dreamin, I can't really advise on whether to split the amounts, but have you checked whether Mint are willing to do a super balance transfer i.e. pay the money into your bank account, so that you can settle the loan?

floridadreamin

Thanks in the red that's not something I'd thought about. I will have a look on line at the T&C to see if it's somthing that they may do.

in*the*red_6

If they don't, there is a way you can do it by getting an intermediary (sp?) card - Martin has an article about it. That's what I'm doing to transfer some of my cahoot loan.

floridadreamin

In the red, is the article in his book or on this site? I'm not too sure what you are talking about.

in*the*red_6

Have a read of this page. Depends on whether you want to go to the trouble of tranferring the balance via another card i.e. egg money (although I've found it quite straightforward and I'm now using the egg money card for all my monthly spending money as I think it's a great card!!)
Sorry have probably totally confused you now but once you've read the article it should become clear(ish!)