Soa help

Verbatim

And if the unsecured debts are added to the mortgage they become secured against your home. If you lost your job through illness or redundancy your home would be at risk. keep the mortgage as manageable as poss.

Deep_In_Debt

Agree with Verbatim - generally not a good idea to turn unsecured debts into secured debts and the secured will be over a longer term too.

I'd go down the frugal living and re-shuffling route and be debt free sooner. Make sure that you don't add additonal spending on the 0% card.

[Deleted User]

As advised above, do a spending diary if you don't actually have the surplus at the end of the month....

In general your SOA looks very good - do your arrears payments to gas and electric end anytime soon? This could be a bit extra cash when they're paid.

If you do have the extra £503.......

Pay this monthly surplus on your Capitol 1 card - this will then be gone in 3 months (then cut up the card - once debts are paid only keep one for emergencies)

Then overpay the Barclaycard - If you can transfer some of this to an interest free card then do that as this one and the Capitol 1 card have the highest interest rates

Then pay of the remaining debts in order begining with the highest intesest rates - the snowball calculator suggested above should help with that.

Just keep an eye for when the 0% periods run out.

Good luck, and 2 years will fly by in nearly no time at all

WOWICANDOIT

My gas and elec d/d will reduce in Dec so will be £50 extra. On closer inspection on my accounts I have found that I have underestimated some expenditure. I repy the IR tax credits £40 a month. I also saved for a new car so that is where the surplus money has been going. I am used to saving so instead will use it to pay the debts now and will be debt free before I know it, cant wait. Thanks for the replies any further help appreciated.
Julie