Advice please!

Dolly86

Hi!

Please be gentle this is my first post!

I've not long moved into my first flat & got a bit carried away decorating etc!

Basically i have £2400 on a credit card, £1500 of an overdraft & £1000 with Next directory,

I am managing to pay these off every month just fine, but it's annoying getting charged interest on all 3...

Can anyone suggest any solutions?

Thanks

Joanne123

I'm afraid not - but my first post was last night and loads of people have offered help so I'm sure someone will be along to help you.
I'm off to National debtline now so just really dropped in to wish you luck and let you know you've not posted into the abyss

Joanne

unimaginative_user_name

You might be able to transfer some of the credit card debt to a 0% card. There would be a balance transfer fee of around 3% but that's better than typical APR on a credit card so you would save a lot in interest payments.

Do you know what the APR is on these accounts? To minimise interest payments the best thing to do if you can't balance transfer is pay as much as you can each month on the one charging the most interest and the minimum on the other account.

The only other thing to bear in mind is that your bank can recall your overdraft at any time whereas providing your are meeting your minimum payments on credit accounts your creditors will be happy.

If you post your Statement of Affairs people might be able to give you more specific advice for saving on your expenses to free up more money to pay of debts.