Day 1

[Deleted User]

I have to say, I disagree with Exbankclerk.

I don't believe it's a good idea, to turn unsecured debt into secured debt.

fatbelly

Bedsit_Bob wrote: »

I have to say, I disagree with Exbankclerk.

I don't believe it's a good idea, to turn unsecured debt into secured debt.

Lots of people did just that before the credit crunch. There were many disasters. I remember Martin being very vocal about Carol Vorderman promoting those products.

Happier_Me

I think you need to tell you wife. Not an easy or pleasant task but at the moment you can only tackle your own spending whereas there us likely to be some fat to trim from the food, holiday and present budgets. Think of all that interest you are currently paying out - that's the equivalent of a couple of very nice holidays a year! Come clean, join forces and get the debt gone sooner as a tram. As the debt reduces you can take advantage of lower rate or 0% cards.

It's not for everyone but my husband and I pool our finances including credit card debt meaning we can get the best 0% deals out there. You may well able to shift some of that debt between you to save on interest.

pennystretcher

Hi Wheely,


Hope you are going OK? Would be good to hear if you have managed to make progress on this? (Or if not and want to start again, we won't judge - everyone falls off the wagon sometimes)


£stretcher

Mnd

Problem is, he hasn't logged on this year, so your support is falling on stony ground I'm afraid