HELP!! Need advice what to pay please?

dustybin1970

Hi All,

State of play - I will receive £2,500 inheritance gift at end of November and am going to put all of it towards my debts.

£2,100 Aktiv Kapital DCA (default registered)
£400 TSB (AR) no interest being added
£1,500 Barclaycard (AR) 3% int
£5,400 Barclaycard (AR) 3% int
£900 overdraft - no arrangement, about £10 pm in interest
£500 Vanquis - no arrangement, paying over monthly minimum

really want to clear overdraft I think, I offered F&F of £750 to AK and they offered me £1,600 to clear which I said I was unable to hoping they would come back but they haven't.

Any advice would be greatly appreciated thanks.:T

sistafromanothermista

I would pay off the £1500 BC @3%, however....are you still on a DMP?

dustybin1970

Yes self managed with bc and ak, paying half minimum. However reluctant to pay off bc cards just now as they are unable to supply cc agreements so can't take any actiob so happy to let them tick along just now till I save up enough to pay off.

HOK3Y

If you pay off the O/D are you sure you won't run it up again? I say this only as it would be easy to find yourself in the same position and then your windfall would have at least partially been for nothing.

sunshineangel

id at least clear vanquis and close down esp with their interest rates. o/d i think you risk going back into it again.
Have you tried a counter offer since theirs with AK?? wonder if that could work?
then would be tsb, or a BC one or save it towards F&F on BC.

Which ever way you decide to do it, good luck with the debt busting.

harveybobbles

Spend the money on YOU, not some two bid bottom feeding DCA!

CCa everyone! Have you checked your CRA?

John1993_2

HOK3Y wrote: »

If you pay off the O/D are you sure you won't run it up again? I say this only as it would be easy to find yourself in the same position and then your windfall would have at least partially been for nothing.

I'm quoting the above, and adding to it, as that's exactly what I thought when you said that you wanted to pay the OD off first. Paying off one or more of the oter debts entirely means that you are probably not going to open them again. Paying down the overdraft (but leaving it in place I asume?) will leave you tempted to start usng it again.

John1993_2

harveybobbles wrote: »

Spend the money on YOU, not some two bid bottom feeding DCA!

Please, OP, ignore terrible advice like the above. Harveybobbles is on some kind of crusade on here against debt collection agencies, and is not advising you based on what's best for you.

Follow his advice, and you'll probably end up like him. I'd not wish this on anyone.

dustybin1970

Thanks everyone I intend to cancel the od, have cc'd all of them both Barclaycard are unable to provide credit agreements. Don't worry john no intention of spending it on myself, I ran the debt up and feel morally responsible and big part of my recovery means I need to pay it all off to put it behind me.