Advice needed please.

I currently have credit card debts of around £9000.

They are split between a M&S card, 4.9% for life of balance and a Halifax one card, intrest free on balance transfers until feb 2008.

Im keeping on top of the repayments, just about, and i always try and swap the balance around to different companys when the 0% offers end.

I also have some endowment policies.

One matures in 2009 for £2400.
Two mature in 2010 for £3500 total.
One that matures in 2011 for £1000.
One matures in 2030 for £5000.
All plus bonuses.

Im also paying into a savings bond that matures in 2017 thats currently at a value of £1103.

Now the question is , should i jack all these in, take the money and pay off my debts and make life a little bit easier?

Replies

  • BokkensBokkens Forumite
    505 Posts
    Possibly,I wouldn't get rid of the nearest ones but possibly the two further away.
    The endowment that matures in 2030 is some way off and with it only yeilding £5000 I would suggest your money could be place somewhere better that is likely you make more over that period.Have you just started this one?
    I would also consider the savings bond which is ten years away.Make some phone enquires and see what amount you are likely to recieve if you closed them.
    The others I would leave to mature as they are not too far away and could help pay off your LOB ,or provide money towards something else in a few years.
    If you cancel a couple, how much are the payments per month and what would you do with that cash,save it ?,send it to the LOB card?
    Hope that helps.
    Previously known as Bokken,registered at MSE in Nov 04,computer glich deleted my access but it is fun building up my stars from scratch,again.:D
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