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Debt consolidation, yes or no?

Options
I'm trying to sort out my debts before I shoot off to univeristy (lol)

I currently have a £3000 settlement figure on my HP car.
I have £1800 in cash to pay onto it leaving me with £1200 to make up. Is it best to pay the remained on my nationwide credit card and balance transfer it to my Barclays 0% until February 2015 and hack at the balance until August? Or just save the money and pay it off in full, bearing in mind I'll be paying £163 a month finance @ 15.9%.


Regards,

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Have you checked if you can pay the HP off with a credit card (with no fee).

    If you can then it depends on how much you can afford to repay to the debt each month as to which option would be best.

    Will you only be paying £163 regardless of where the debt is? or will you be able to afford more?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • I'll be paying £650 off the CC each month.
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