Current Debt Level Advice

OsborneSaint

Hi,

Please bare with me as i'm a newbie to this site. I'm not sure if this is the correct place to post but here goes.

My current situation is as follows and I wondered if anyone had any advice as to get my debt level down or whether i'm already on the right track.

I have a personal loan (£20k over 7 years with halifax) that I have had for a year now paying £390 a month.

I also have some credit card debt as follows: £1500 on a 0% interest halifax credit card paying the minimum, £6000 on an old now 0% interest for 9 months halifax credit card paying the minimum.

Now here is the tricky bit, my partner and I are getting married next year and i have around £12,500 in shares that are about to come in. I planned to use the shares to pay for the wedding but should i do something different with this money? Do i pay off debt and then use credit again when i need it for the wedding?

I ultimately want to get my debt repayments down as they are currently at £450 ish in total. Any ideas on what's best?

Thank you very much in advance.

MFWannabe

Hi
Welcome to the board. You need to pay off as much debt as possible and have a cheaper wedding. Why would you get into debt to pay for a wedding? Do you really want to start married life with a load of debt hanging over you? Does your partner also have debts?

Yum

FREEZ wrote: »

Hi
Welcome to the board. You need to pay off as much debt as possible and have a cheaper wedding. Why would you get into debt to pay for a wedding? Do you really want to start married life with a load of debt hanging over you? Does your partner also have debts?

agree with this, although its prob not what you want to hear OP