OK, help me think this one through

little_miss_thrifty

Hi, i would, as suggested before, pay off barclaycard and the sofa, and with your leftovers, put towards either student loan or tsb balance

LMT x

WestonDave

Here's my theory (for what its worth)

Leave the student loan - from what you've said elsewhere if your income doesn't rise you may never have to pay this off. If you do get enough income to start paying it 2.4% is hardly crippling.

Clear the Barclaycard as its one less thing to think about and its high interest.

At that point until October the only thing you are paying interest on is the LTSB overdraft - might be worth sheltering £500 in there at least temporarily to save interest on that.

You still have enough left to clear the sofas when they arise, so far you've used £1350 so have £200 left to use.

By the looks of it you have £700 of unused 0% overdrafts to live on so that should be fine - I'm guessing some of the flat selling costs will come out of the proceeds?

I would therefore put the £200 plus the sofa money somewhere gaining interest, until October, at which point you need to start building for the £1600 left on the egg card when it comes off interest free - unless of course you sell at which point you will have funds to clear it.

(probably missed the point somewhere but hope this helps!)

Imelda

how about putting the old TSB overdraft on the smile account (or will you need this?)
So, if you get £1560
pay 800 off the sofas (leave in high interest account until you need it)
pay 51.28 off the barclaycard
remaining: 708.72 I would put £500 in TSB to cover the overdraft but not close the account so you can utilise the overdraft to pay off egg if needs be (and if it's a lower interest rate than the egg card)
the final 208.72 I would put in the highest interest paying savings account to help offset the interest accruing on the student loan while it is deferred and also to give yourself something to put towards paying off the egg card if you are unable to BT. Or depending on how things go, you can put this towards your moving plans.

Imelda

sorry, cross posted yet again! I type too slow

Thefunkygibbons

Be careful with the overdraft, you don't want the bank doing the dirty when the money arrives and removing the limit

or am I being cynical?

sanfrancisco

I would do sofas, BC and then....I would do the Lloyds od. That should leave 150, which I would put in A&L, can you trust yourself soing this?

My reasons...as above re sofa and bc, and then...od's are terribly terribly difficult to get out of, much more so than a positive balance on a cc. You will also halve the number of debts you have, down to three. FANTASTIC!!! You will have 1cc, a sl, and a small od. YIPPEE!! I know you are ill at the mo, so try not to worry about sl, and any spare pennies you have should go to Egg.

Don't forget to shut the Lloyds ac and the sofa and BC. Make sure you get letters off of all the !!!!!!s. They are notoriously bad at not closing them.

meerustar

I agree with the above ... but also save just a little for yourself for a nice bottle of wine, dvd and take away of your choice as you've earnt it.

Congrats on getting your charges back!

lynzpower

OK

So many options

1560-
800 sofas ( imperitive)

=760
-overdraft tsb 500

260- barclaycard
210- student loans

My credit rating is quite good, and I dont have any problems getting cards or otherwise.

Im loath to tinker with the smile account, it ticks over, and causes me no probls with the bills in and out and I aim to be in a situation fairly soon where we have enough money going into that account monthly, to reduce the need for the cahoot account

For selling the flat Ive got a new credit card @ 0%, no balance on that yet, as it hasnt arrived.

lynzpower

My reasons...as above re sofa and bc, and then...od's are terribly terribly difficult to get out of, much more so than a positive balance on a cc. You will also halve the number of debts you have, down to three. FANTASTIC!!! You will have 1cc, a sl, and a small od. YIPPEE!! I know you are ill at the mo, so try not to worry about sl, and any spare pennies you have should go to Egg.

Oh no I still owe my parents loads still as well, but they cant remember how much it is, but theres nothing to worry about there, its 0% and they are happy for me not to pay them back at all, theyve suspended payments for me at the mo until Im back in earning capacity

Queen.Bess

Well Done Lynz on getting so much back! Its inspired me to have a go - it's only £130 ish in charges but it all helps!

Personally I would pay off barclaycard, sofa and student loan, then that's 3 whole outstanding debts gone and wiped off your list!