Advice

kiwimel123

Hi ya,

Just wondered if anyone had any suggestions?

My fiance and I are getting married next year. we are desperate to start saving. Problem is that we have a £2300 debt owing on our Virgin credit card.

We have gone over the 0% interest time and was wondering what you would recommend?

We both live at home with his parents. I have a bit of a dodgy credit history - rememnants from a previous relationship but it dates back around 4 years ago. No CCj's or anything but 2 defaults of around £340 that have both since been settled.

I dont want my OH to take care of this because believe it or not - I am probably better at sorting money then he is. We are sensible but he just finds finances overwhelming when he tries to sort things out. I was thinking of applying for a loa - but we dont own a house and I would be embarrassed to ask someone to go as guarantor. Or maybe a credit card? I have been desperately trying to rebuild my credit score - I have a Capital One card with £180 owing, a Barclaycard with £70 owing and a Next Account with a sparkling £1000 credit allowance and nothing owed. I make sure I pay something every month in order to show I am worthy.

I am on the electoral role and have been for 18 months at my OH's parents house. I have a contract mobile phone that I never miss a payment for.

MY biggest fear is having search "footprints" all over my account. I dont want to pay it off all at once, I would rather do it over 12 months so that I can continue to put money aside for my wedding as well.

Reccomendations? Sorry if I waffled LOL

CLAPTON

without knowing your income and spending and the full debt details its a little difficult to understand your situation
but you seem to be in debt to the tune of 3,600 ish

for two people living at home with parents this doesn't seem a huge sum but without your full details it not possible to judge
post up an SOA so we can see the full facts
http://www.makesenseofcards.com/soacalc.html

how much are you planning to spend on the wedding?

kiwimel123

Hi Clapton,

Thanks ever so much for your response. I'm not panicking - It's not even that much debt! I think it works out to be £2500. And your absolutely right. Its not a lot for two people living at home. Its just that we would rather cut the interest rate down (Now that it is out of the 0%) and make smaller payments which will enable us to pay for wedding bits allong the way rather then bricking ourselves for the next 3 months while we pay it off that nothing for the wedding is being organised!

Is this a really backwards way of thinking? Please tell me if I am just getting myself in a fluster!

Dabooka

To me it sounds like other the advice given, your best bet would be to pay it off monthly as soon as possible (including anything you'd rather save for the wedding!) and then when it's clear you can start saving including the money you no longer need to pay off. It'll probably save you unless you can get another 0% deal, which might be hard.

If you're serious about getting married, you'll have to throw every bit of money into it anyway; trust me! And the last thing you want to do is start married life with a debt.