Unsure about next move...

exponential

With all due respect, if I get my debts down far enough, it is possible that I may be offered a loan at a better rate which will save me money. If I get a better rate I may also reduce the length of time to pay it back which is win win....trying to be positive here....LOL

Pixie5740

No your still trying to borrow your way out of debt. With all due respect you haven't had your lightbulb moment yet.

exponential

Well......erm.....with all due respect, erm....ok, you're right....LOL

Thank you very much for your valued input. I will take everything suggested on board and with a touch of luck and a dash of hard work, I'll be in a better position this time next year!!

tlc678910

Hi, if you pay down the credit cards a bit (perhaps a tad more than the minimums) you will be likely to receive "money transfer offers" from your credit card providers. When the loan has reduced a bit you might be able to borrow enough from a money transfer to pay off your loan and have this transfer to your 0% credit card debt.

I borrowed 3K on a money transfer last summer for a car with an offer of 12 months 0%. We wanted money rather than use a credit card so we could buy privately.

Tlc

exponential

Hi tlc.

Yeah, I think you're right. I really need to hit them credit cards (interest bearing ones) as much as I can.
It's really upsetting me that I'm paying £40 a month in interest alone on the 3 offending cards!
Ive spoken to my wife and we are not booking a holiday next year and we're going to really knuckle down to get them cleared.
No more unnecessary purchases.....