Advice for reducing balance

djwolf

Hi. Haven't posted here for a while but could do with some advice now. I have a small-ish amount of debt, one being a car loan with £3750 left to pay and the other being a credit card with a balance of £1770. Despite being 0% on transfers for 13 months I've only managed to pay about £150 off in the last 6 months, this is partly due to the interest on purchases I've had to make. I really need to stop spending on it.

What is the best way of getting the balance down to a reasonable level without making me broke? Is it adviseable to switch to another 0% card for a while? I'd like to get it below £1k asap.

Thanks.

tomjeffery

start paying off reasonable amounts each month...

jamalfatty

tomjeffery wrote: »

start paying off reasonable amounts each month...

Beat me to it :rotfl:


Seriously though, yes, switch whole balance to a 0% card if possible. Stop spending on it if possible - ideally chop card up. Pay as much as you can possibly afford off each month

djwolf

Yeah I will if I can afford it. Had some car repair bills lately which doesn't help.