Advice on where to start...

Krystal83

Hi,

Me and my husband have four credit cards between us with various balances. We also have an overdraft. We are now in a position to be able to start tackling these debts but are wondering which is the best way to go about this. Do we tackle the biggest debt, the biggest rate? Any advice welcome :beer:

cuttingbackisitfun?

Hey Krystal,

I am quite new here but did not want to read and leave so to speak.

There will be load more experienced people on here soon for you but best start is a full SOA ensuring all interest rates are listed.

Best of luck clearing these,

K x

May2013

Hi Krystal

It might be worth trying the snowball calculator, if you enter your credit card/OD balances along with interest rates and the amount you think you will be able to pay each month it will show you which debt you need to tackle first and your debt free date. I've found it a really useful tool.

http://www.whatsthecost.co.uk/snowball.aspx


As the previous poster mentioned it might also be worth posting your SOA (Statement of Affairs) so that some of the more experienced people here can give you advice on where they think you may be able to cut back on your outgoings.

http://www.makesenseofcards.com/soacalc.html

Hope this helps
Good luck
xx