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Debt consolidation is it worth it?

katie4 · 2018-01-15 16:48:49

Im looking at getting a debt consolidation loan for my aqua credit card which is 41.2% apr with a balance of approx £3500 loan offered is over 12 months £297 a month at 17.4% apr it looks good, but i just want to check whether its a good idea as i know i will have to pay that set amount each month which i can afford as i…

Comments

katie4 Posts: 459 Forumite

18 January 2018 at 4:06PM

enthusiasticsaver wrote: »

Why are you only paying £150 per month to the credit card? If you can afford a loan at almost £300 a month why not put that to the credit card instead?

150 was the minimum which i could only afford to pay before
but i have since become full time and can therefore afford to pay extra, which is what i have been doing so far, putting the 300 towards the card each month

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