How to best manage my debts? Advice please!

Pixie5740

Why are you so hellbent on consolidating when it hasn't worked out for you in the past?

DCFC79

Consolidation wont work, look at your finances and be realistic, make some sacrifices, get rid of the TV package for example, get Netflix/Now TV much cheaper and a wide variety to watch.

ciderlover

OK, thanks for the advice all. To clarify I am not looking at a consolidation loan imminently, I was referring to the time when my 0% interest offers come to an end. I'd rather not gamble on qualifying for one with someone else and end up with 20% interest on both. Reviewing in around a year may allow me to sensibly consolidate and maybe even reduce the interest rate on the loan.

To clarify, the £16k loan is in my wifes name, not mine, so I am able to qualify for some loans.

Thanks

Lydia42

I would concentrate on the cards and leave the loans as they are for now as at least they are low interest and you know the payments are fixed and will eventually come to an end. If you can concentrate on the cards for the next 12 months as you suggested you may be able to do balance transfers to keep the cards 0% while you clear them completely. Once the cards are gone you can get to work on the loans. I think there is a risk if you worked on the loans you might be stuck with cards at a high interest rate when the deals come to an end.
In the meantime definitely try and keep a track of where your money is going. I've been using a free trial of YNAB (you need a budget) and have found it amazing at seeing where every penny is going - mostly food shopping!!!!!!!