What To Pay Off Next - Help Needed

Keithmo_007

Hi,

We have gradually built our debts up and up for various reasons but without going into too muc details as to the reasons for this, our current debts are;

Current Acc 1 - £700 overdrawn (standard interest rate)
Current Acc 2 - £1000 overdrawn (standard interest rate)
Current Acc 3 - £1500 overdrawn (standard interest rate)

Barclaycard - £1300 (0% until July)
Egg Card - £700 (0% until July)
MasterCard - £1900 (18% apr)

I have received a gift of £1000 from a family member so I would like to know how best to make use of this to improve our situation. Any help very much appreciated!

Thanks

Catslovelycats

I think it's the balance with the highest interest you'd want to pay off first, isn't it?
On the other hand, do you need to clear a current account OD so that you have some funds??
I'm not sure!
But there'll be people along who can help you soon.
All the best

Debt_free_by_2012

Pay off whatever charges the most. Some overdrafts have pretty hefty charges, if that is the case with yours then pay that off first.
All the best.

MrWillyWonka

Use the snowball calculator which will give you the quickest way to pay off your debts.