What should i pay off first

jackal28

Hi guys decided to bite the biscuit and pay off my debts , its not a huge amount and ive been comfortably paying them off for years , im just fed up of not having the extra cash free .... as it is i owe

hsbc £8000
nationwide £3400
Hsbs credit card £2500

i am paying around £500 a month in repayments and i have managed to scrape £4000 together to pay one off . now do i either

Take a loan for £4000 and add my 4k too it and pay off the biggy hsbc one leaving me instantly £200 better off a month and enabling me too pay more a month off my credit card and save to pay off the nationwide

pay off the credit card

or the nationwide

now the way i see it , i can always pay extra into the credit card and pay it off at my discretion and iam reducing my credit limit every month so it is whitling down slowly But with a loan i dont have the luxery of paying dribs and drabs and want to get rid off the big hsbc one as its been hanging over me the longest

any tips ...

Tixy

What are the APRs on all the existing debts?

Are the HSBC and nationwide debts loans or cards? if loans do they allow overpayments?

MrsTinks

Tixy has really asked the important bits... APRs and how flexible are some of the loans etc... I have an Egg loan forexample which I can overpay anytime I want without penalty... I've put the odd £1000 in to overpay when I've had it But ONLY because my other debts are all 0% cards hehehe So my Egg loan is the highest APR... otherwise I'd have been paying it off my other debts.