Advice thoughts please

mrlucky

Hi all, I'm after advice please

I have £6000 in bank after divorce.
I have £3000 in a car loan at 12.7% 15 payments left of £187 pcm
I have £2000 on first direct credit card 16.9%
I have £745 left on a rescheduled loan 6.03%

Would I be best paying off all of these in one go, be debt free, or would I be best just paying off one or maybe 2 of these debts?
I would like a house of my own, but it's not essential, I'm 49, in full time employment. Houses prices near me are out of my reach.
Thanks in advice mr lucky

L33bou

mrlucky wrote: »

Hi all, I'm after advice please

I have £6000 in bank after divorce.
I have £3000 in a car loan at 12.7% 15 payments left of £187 pcm
I have £2000 on first direct credit card 16.9%
I have £745 left on a rescheduled loan 6.03%

If your credit rating is good, why dont you transfer the balances onto a 0% interest cards?? Obv depending on what you are allowed to do. Many cards out there with decent amount limits For example the M n S card MSE have been raving about, i got approved and got a 3k limit straight away

bigadaj

You certainly want to get rid of the first two loans with those rates.

If you are disciplined and can get 0% credit card deals then that would be the most profitable option, opening high interest current accounts to take the balance.