OK, help me think this one through

Snaggles

lynzpower wrote:

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

Don't you just love Bank of Mum and Dad Plc! Mine have just offered me a £3k interest free loan to buy a caravan (so we can actually have a holiday at some point during the next decade!). I normally would have snapped their hands off (free money - woohoo!!), but the little DFW voice at the back of my brain said 'Don't do it - it's still debt', and for once (possibly the first time ever!) I listened. But I love the competitive interest rates and flexible payment options they offer! :rotfl:

jellycat40

What a lovely thing to manage to do, get your payments back. Defintely pay off the sofas if you can. Is it interest free for a year then pay or suffer the high APR?

Def get rid of Barclaycard as it is such a small amount it will be great to be one debt gone and then throw the rest at your highest debt.

Just a suggestion but why don't you keep the £60 to have as a buffer somewhere to offset an unexpected bill or something.

Louise

Mirtos

well done lynz - i've just filed my judgement thingy on moneyclaim as lloyds didn't bother to enter a defence, so hopefully I'll be getting some oney back soon too. I don't have much to add really, other than a hello :wave: and to agree with what everyone else has said - high interest first.xxx

postingalwaysposting

well done lynz, i would pay off b/c and the sofas definatly , sorry i am a bit late in adding my opinion

apples101

just a thought.

i was at one of those timeshare presentations the other week and they mentioned buying it using 0% credit. but they highlight a loophole. before the account is due to incurr interest pay all off but leave just over one payment in. then a few weeks later ask them for a settlement figure this will now be bassed on the ammount outstanding not the full previous ammount.

worth checking in my book!!!!

Verbatim

Lynz,

Well done on the bank charges. Fantastic news! I agree with everyone who's said keep the sofa money back and clear the next highest cc in snowballing fashion.