Overdraft Help Needed!!!

Sandgrownun

Hi,

Please don'y shout at me for being silly guys!
I have recently bought my first house, and with doing it up a bit and buying the essentials my overdraft has got up to a massive £3000 with £1000 of that being interest free until Oct 2008 (its a graduate account). What would you say would be the best way to pay it off? I can afford about £100 per month. I was thinking maybe an 0% interest credit card for £2000 of it but i'm not sure whether that will be the best option?

Please help I keep having cold sweats and worrying I'll get my house repossessed or something!!

Thanks everyone.

bank_of_slate

Hi Sand,

Don't panic, firstly we are not here to shout at, judge you, just to support & advise.
Communicate with the bank how you intend to resolve the issue and stick to it!
As long as they can see you are making efforts to tackle the situation they are often tolerant.
...Linda xx

Storm

Personally I would ask the bank to reduce the overdraft by £100 every month - that way you can see it reducing but aren't tempted (or able) to run it up again.

CLAPTON

the best thing to do is to look at your spending and see whether you can find more than 100 a month.
why not post your SOA on here and see if people can find savings.

presumably you not above your approved OD limit and being charged accordingly.
whats the APR on the OD above 2k?

and stop buying essntial things for the house until the debt comes down