Looking for debt advice

Hi All
Long time reader first time poster.
Im finally addressing the rising credit card debt I seem to have built up. Its currently

2300 barclaycard 11.9% (limit 5200)
730 egg 18.9% (limit 2250)
3000 virgin 1.9% (as of november will become 18.9%, limit 4200)

Ive decided to stop spending on all cards and become a cash only kind of guy paying off the minimum on all plus £100 at the start of the month plus any excess at the end of the month.

Obviously ill be paying the egg off first then virgin then barclaycard.
I know the perils of taking out a consolidation loan for these but the majority of the debt is still around after my student days which were followed by 2 years in a low paid job (18k) in which it steadily grew as I was spending £40 a week on fuel to even get to work.

Anyway im now 24 on £26k and hoping to become a qualified accountant in March 2010 (I know the irony). I was thinking of a loan from Zopa which I can overpay each month if I want with no charges but I think it'll be around 10%.

The alternative is juggling things around to take advantage of the various BTs I get offered.
Any ideas



  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 25 August 2010 at 2:29PM
    I'm giggling at this.
    Long time reader first time poster.
    Posts: 5
    hoping to become a qualified accountant in March 2010

    You are going to be one hell of an accountant ;) !

    (By the way, while there's logic to your plans, I'd suggest visiting the Debt-free Wannabe part of the forum. That will really help you to prioritise your debts and eventually get rid of them. Then you will really be able to enjoy your life as your income rises).
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