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Best way to transfer overdraft debt?
AThorn22
Posts: 12 Forumite
Hi there
I have £993 on my HSBC Current account through the overdraft. However this ends in July and will start costing me ridiculous amounts per day. I don't have the funds to clear this in time so how should I go about transferring the debt elsewhere? I have a barclaycard account with debt on there but i have 2 years to clear this.
Many thanks
Anais
I have £993 on my HSBC Current account through the overdraft. However this ends in July and will start costing me ridiculous amounts per day. I don't have the funds to clear this in time so how should I go about transferring the debt elsewhere? I have a barclaycard account with debt on there but i have 2 years to clear this.
Many thanks
Anais
0
Comments
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See http://www.moneysavingexpert.com/banking/cut-overdraft-costs, or if you have more debt than you can cope with then it may be worth posting over on the debt-free wannabe board.0
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If your credit rating is ok get a free purchase credit card - spend your normal outgoings on that and leave your wages in the bank to reduce the overdraft.
However this is only a temporary measure - the only way to reduce debt is by spending less than you have coming in - it is really that simple.0
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