Credit card to consolidate??

Smalldebtdealingearly

Hi all!!

My debts are quite small in comparison to most but I want to try and deal with them now before it gets out of control. The problem is I have no idea what I'm doing!!

I currently have an overdraft of £1500 and (stupidly) have to get pay day loan every month. I currently owe them £700. Plus I owe a couple of people a few hundred.

I am now in a position with work where I will be earning more and able to get myself straight. I want to be debt free by the end of this year!

Ideally I want to consolidate everything so I have one payment each month and I know where I am with it all. I was thinking a 0% credit card rather than a loan ..... has anyone done this before?

I'm worried about getting stung by hidden interest costs or fees with credit cards!!

[Deleted User]

You're massively unlikely to get a 0% card with payday loans and living in your overdraft.

Go to the DFW boards for advice on cutting costs and paying back faster.

dresdendave

Deleted_User wrote: »

Go to the DFW boards for advice on cutting costs and paying back faster.

I second that.

Earn more and/or reduce outgoings equals more cash available for repaying debts. Work out which debts are costing the most in fees/interest and focus on those first.

You won't borrow your way out of debt.