Consolidation, cards or ride it out?

medi212

I have just over 3k on a loan with 16 months left. I was going to continue this and then pay off my overdraft of 1450 but the bank are now going to charge daily for this service.

Am I better to negotiate a new loan and enter a longer term? Or is it possible to move the debts onto one credit card and clear the lot off in the term? I already have a visa and mastercard. Nothing on mastercard and only 200 on visa so I don't know if I'll be allowed to do this.

I have about 3000k savings but need to pay for holiday in May. We have a share scheme due to mature in June which will replace that.
I have accounts with Barclays, Lloyds and Santander.

bigadaj

In your situation I wouldn't take the holiday, it sounds as though you are too indebted.

If you are disciplined and can get a 0% deal on a card then that might be possible, though you'd need a card that would transfer to your bank account which only a few providers do, mbna are one.

You can try and extend a loan if you want but it will cost you more money in the long run.