More than the Minimum Repayment or Pay "Buy Now, Pay Later" Items

confusedforsure

Can anybody advise please?!

I have run up a rather large debt with a catalogue.

While I am ok paying just over the minimum repayments at the moment, I have a big problem....there are quite a few "Buy now, Pay laters" coming up (pretty much one a month from Feb to Aug next year). I can't afford to pay these off so I know they're going to slap the interest on and minimum repayements increase. That's a problem I'll have to sort out when I get to it.

Anyway, for the next couple of months I'd just like to know what's the best thing to do - do I pay more than the minimum repayment and pay nothing on the BNPLs or do I pay exactly the minimum repayment and pay as much off the BNPL to avoid interest on that (by the way the APR is 44.9%!!!) or does it make no difference whatsoever?

Hope this makes sense and any help/advice will be gratefully rec'd.

Thanks
Confusedfor sure

Linda32

Hi,

"I think" that the amount that you send them, whether its the minimum amount or more, is applied to each outstanding amount which the catalogue company decide.

I don't think you can choose which you pay off sooner. But I'm assuming it will help to pay of as much as you can, to reduce whats owed.

Someone will be along soon who knows.