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Business overdraft repayment
ANGELB
Posts: 40 Forumite
In a nutshell. Ceased trading Oct 2010 self employed parcel delivery.
Luckily OH managed to obtain another delivery job as an employed driver. The business overdraft is now £11000. I work full time but my salary £1282 monthly is totally used to pay all the mortgage, utilities, life ins, council tax, mortgage ins/life ins,tv licence, house phone/broadband and 2 mobile phones £100 credit card (£4000 outstanding at 0% until Oct 2012 and £230 off the business overdraft. My OH's weekly salary £292.00 net is used to pay our weekly fuel for 2 cars (no public transport where we work) and their running costs, shopping and contributing £60 per week to the account my salary is paid into to go towards the outgoings. My OH has a 0% creditcard with no balance on it. To bring the business overdraft down by a large sum would anyone recommend using the max £5k on this card? The business overdraft interest is going on each quarter at around £175. We are in the process of selling our static caravan in the lakes and a camper to help clear these debts. Any advice much appreciated.
Luckily OH managed to obtain another delivery job as an employed driver. The business overdraft is now £11000. I work full time but my salary £1282 monthly is totally used to pay all the mortgage, utilities, life ins, council tax, mortgage ins/life ins,tv licence, house phone/broadband and 2 mobile phones £100 credit card (£4000 outstanding at 0% until Oct 2012 and £230 off the business overdraft. My OH's weekly salary £292.00 net is used to pay our weekly fuel for 2 cars (no public transport where we work) and their running costs, shopping and contributing £60 per week to the account my salary is paid into to go towards the outgoings. My OH has a 0% creditcard with no balance on it. To bring the business overdraft down by a large sum would anyone recommend using the max £5k on this card? The business overdraft interest is going on each quarter at around £175. We are in the process of selling our static caravan in the lakes and a camper to help clear these debts. Any advice much appreciated.
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