Avoiding a return to debt

Miz_Demeanor

Evening Forum,

I've been really stupid in the past with my money. In short, lots of student debt, and lots of consolidation with my bank amounting to £12k which I struggled to pay back.

Last year I went debt free for the first time in 10 years

Unfortunately a new problem has now arose...
I'm getting married in a couple of weeks, which as many moneysavers will agree, it's not the cheapest of times. I haven't been checking my balance, and yes, I'm way over my overdraft (£700) and getting myself into debt once again.

What I want to ask is - would it be wise to get a 0% interest credit card to pay off the overdraft and avoid the charges and have something to rely on for the wedding and honeymoon?

I know I have money coming my way. and should be able to pay off minimum payments no problem.

I'm arranging to see my bank tomorrow for a chat about my finances.

Advice welcome -please!

Stressed Bride to be.

DizzleUK

Depends how long you have been over your limit. If it is long enough for the bank to have reported the fact to the credit reference agencies then that may throw a spanner in the works when applying for a card.

Your next step is to check your credit files with experian and equifax (both offer 30 day free trials) and see if there is anything nasty on there. Have a chat with your bank and see if they will increase your limit so that you are not paying unauthorised overdraft fees and try and minimise the damage.

Oh and if you can only budget for minimum payments, think hard before borrowing. It is paying the bare minimum each month that gets so many people into trouble.