Consolidating Debts....what should i do for the best

gimmegimme

Hi, i have a problem with regards to a overdraft and a tesco credit card bill and a existing loan with noethern rock.
Overdraft Llyods tsb £980
Credit card £1600 clubcard points mad / other purchase mad too now only had it since july!!!!!!
Northern Rock £2600 unexpected pet bill

I have allocated £135 to pay off the northern rock loan over 2yrs.
I have been quoted a 31/2 loan through northern rock for £5000 paying £135 should i go ahead and do this?

Or

Tesco credit card 0% on £800
So just borrow £4200 from northern rock and pay off the card seperate afgter paying the other £800 on non tesco items to make use of the 0% interest.

Any ideas ? Would be very much appreciated

hedgefund

Hi

I'd go with the latter option!

brownbabygirl

YOU owe Northern Rock money?:rotfl:

brownbabygirl

by the way i agree. go with plan B!

CLAPTON

A little unclear about the Tesco CC.
Do you have two CCs one with 800 at 0% and one with 800 paying interest or is it just the one card. If it is the one card are you sure you can pay off the 800 paying interest ...usually all money goes to the lowest interest debt

Melly31

If you do-change banks, either way did you sign for overdraft or do it over the phone?
If you didn't sign for it, it's actually unenforceable (even in court), write them a prove it letter (let me know if you need a template) & they'll wipe that debt from your records (inc your credit file)

s1h

Melly31 wrote: »

If you do-change banks, either way did you sign for overdraft or do it over the phone?
If you didn't sign for it, it's actually unenforceable (even in court), write them a prove it letter (let me know if you need a template) & they'll wipe that debt from your records (inc your credit file)

Your not a believer in "If you borrowed it you should pay it back" then Melly.

Why should I have to pay back my finances but others like you don't makes me sick, all it means is if people keep doing this then soon we will see the end of free banking and will all start having to pay fees for our banking.