To borrow or not to borrow?

ben-dover

6 months in and all going well

Puddylove

It's no use - you'll be forever tainted in our eyes as a filthy 'consolidator'.

somethingcorporate

Good luck.

Although I don't see a positive outcome to be honest just from your past behavior.

Consolidating at an increased rate, borrowing more than you needed to to pay off your debts etc. etc.

You could have knocked up a spreadsheet in 20 mins to manage all your lower, lower rate existing debts and avoid the millstone you put around your neck.

Did you cut up/close all your cards?

enjoyyourshoes

Close the CC, cut them up and don't apply for anymore.

Get to a position where you always know what is remaining in your current account after you have allocated for:-
Annual Bills
1/4ly bills
Monthly Bills
Monthly SO & DD
Savings
ATM withdrawals
Debit card payments
Cheques drawn
(ALL CREDIT CARD payments if you have not cancelled them and cut them up)

As a previous commentator said, reduce your expenditure below your income, take hard and tough discussions but DEBT free has to be better than Indebtedness

jamesd

ben-dover wrote: »

6 months in and all going well

Good to read!

The knowledge of yourself to know what will work for you is important. More important than absolute lowest cost if that doesn't work for you.

Since loans seem to work for you, you might see whether you can get a lower cost loan to replace this one. Or alternatively, if you're overpaying on the loan you could consider a 0% money transfer credit card offer, taking only enough from that for your overpayments to fully clear the card balance before the deal ends. A little bit of lower interest rate help, without switching to cards full time again.