confused as how to deal with this

dylansmum

Robflh wrote: »

Hi dylansmum

A re-mortgage to consolidate the £25,000 debt would make the mortgage around £625 a month over £25 years. That would save you over £400 a month.

Once both of you are in employment, you can make over payments or put money into an ISA and then make lump sum payments off the mortgage.

However, as it is a temporary short fall in cash flow, you could use the Egg card to pay for the traveling and the food. Then at the end of each month, you would pay as much as you can off the Egg card.

The debt on it would slowly build up but it is only until January and it should be less then £1,000. In the mean time, apply for a Tesco credit card. It has 0% on balance transfers for 12 Months and on Tesco purchases.

http://www.tescofinance.com/personal/finance//finance/creditcards/clubcc/apply.jsp

If you get the Tesco card, transfer all the money on the Egg card to the Tesco Card. After January, you will be able to clear the credit card in no time at all.

If things when horrible wrong, you would still be able to re-mortgage and meet your monthly financial commitments.

Thanks - I am soo bad at juggling but perhpas need to get a bit more savy. It is temporary and is a cash-flow problem. I am scared of applying for any new cards as , my loans look so horrendous (even over half were home improvements) I am sure I won't a high credit limit unless I clsoe my EGG first which has a 10K limit) My OH used to be great at card shuffling - but this was before balance transfer fees. he paid off all his debts in less than two years (all hanging over from postgrad student days) using 0% but I was SILLY and didn't try to do that.

But perhaps I need to try? In meantime, if it does go wrong I guess a fleixble remortage (though awful) would be ok as long as we can hammer it next year. We have 18 years left! Yippeee!

liz105

The_shuffs wrote: »

Hi all im on a DMP with the CCCS and have been now for 3 years original debt was over 20,000 but is now just over 12,000 which i am really pleased about my problem is my OH debt that came with him from his previous marriage we have since got married his debt is just over 32,000 and he is paying just he min amount to them all with the help of the CCCS they said that a DMP was not suitable (all interest has been frozen) im not sure if him going bankrupt is the answer any advice out there very poor and fed up with it all

Please do not hijack other peoples threads.

Please start a new thread from the main page.

Robflh

Hi dylansmum

Can you edit your first post and put what the APR is for each of the loans.

Credit card companies seem to have a mind of their own. One will give you a credit card and another one will not. As long as you only apply for two every six months, it will not affect your credit rating.

That is why nobody can say for definite that you will or will not get a Tesco credit card but there is only one way to find out, so click on the link in my last post and apply for one NOW.

dylansmum

Robflh wrote: »

Hi dylansmum

Can you edit your first post and put what the APR is for each of the loans.

Credit card companies seem to have a mind of their own. One will give you a credit card and another one will not. As long as you only apply for two every six months, it will not affect your credit rating.

That is why nobody can say for definite that you will or will not get a Tesco credit card but there is only one way to find out, so click on the link in my last post and apply for one NOW.

Hi

Aprs:

Virgin loan is 6.9
barclayloan is 7.7

Cheers

raq

hello

didn't want to read and run.

I would also advise on whether your hubby could work in the evenings. I often mention to my husband if things does get out of hand then I would have to work late tea time for a couple of hours rather than put 3 children onto my mother. Every little helps.