Loan to pay of CCards

dealer_wins

On a side note, examine why you have run up these debts, and try to avoid ever doing so again.

Work on building up 3-6 months salary as an emergency fund, and also saving monthly to cover annual bills like holidays, insurances, Xmas etc

This will save you £1000s in interest over your lifetime, and also will make your life much less stressful!!

BMN

Go to a Lloyds branch and speak to someone. They will be able to check on their computer system if they are able to offer you a loan without having to apply for one first. They can also run some quotes for you to see what rate it would be.

I think loans over £5000 qualify for the best rate. But I suppose as long as the loan is at a lower rate than your existing cards it would still save money.

molerat

Borrowing more than is needed to get a cheaper rate is rarely a good idea for a person who already has debt.

Clive_Woody

adamthegreat wrote: »

I get very stressed with working out all the payment dates and what I can afford to pay each month

At the very least I would set up a DD for each card to pay minimum payment each month then at least you will never have a missed payment appear on your credit history.

You then start paying off the highest interest debt first with the left over each month as additional payments.