We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
what to do??
bob_wilts
Posts: 5 Forumite
Hi. I owe £1500 to three creditors, and pay £100 per month to PAYPlan who distributes money to the three groups. I have been doing this now for 18months.
I have been told by the creditors I can settle with them for a smaller amount
(how does this work?)
my question
MY wife has a credit card £5000, I have just been told I'm having a pay-rise (approx 2000pa) but with interest rates going up this will be used.
Is it worth trying to take out a loan for £2000 to pay of my wife card and my dept. The total repayments will equal my £100 plus HALF what my wife is paying. nett saving of 100 per month.
My mortgage will start to come out in November (yes I have more then one on the house
) and will be 90% paid by next July.
I would love to pay of my dept now.
Help needed please
I have been told by the creditors I can settle with them for a smaller amount
(how does this work?)my question
MY wife has a credit card £5000, I have just been told I'm having a pay-rise (approx 2000pa) but with interest rates going up this will be used.
Is it worth trying to take out a loan for £2000 to pay of my wife card and my dept. The total repayments will equal my £100 plus HALF what my wife is paying. nett saving of 100 per month.
My mortgage will start to come out in November (yes I have more then one on the house
) and will be 90% paid by next July.I would love to pay of my dept now.
Help needed please
0
Comments
-
Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]!!!!!![/EMAIL].I am a Senior Forum Ambassador and I support the Forum Team on the Wales, Small Biz MoneySaving, In My Home (includes DIY) MoneySaving, and Old style MoneySaving boards. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0
-
Please can you do an SOA. so that people can help you
Here is the link
http://forums.moneysavingexpert.com/showthread.html?t=107280If you've have not made a mistake, you've made nothing0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards