Should I consolidate debt?

Moneyhelp4u

Hi sorry, that’s just how the answer came into my head!

DCFC79

eh1404 wrote: »

Thanks all. I think I pretty much knew deep down what the consensus would be before I posted, just didn’t really want to admit that consolidation was not the best idea (the paying less each month sucking me in.)

I’ve looked on how much I need to pay to snowball it and pretty much on track with that, so guess just stick to what I’m doing for now.

Id be looking at your spending and see what you can cut back on.

[Deleted User]

eh1404 wrote: »

Thanks all. I think I pretty much knew deep down what the consensus would be before I posted, just didn’t really want to admit that consolidation was not the best idea (the paying less each month sucking me in.)

I’ve looked on how much I need to pay to snowball it and pretty much on track with that, so guess just stick to what I’m doing for now.

Have a read at the thread at the very top of the board by zippygeorgeandben. She (I assume it's a she) has been in a similar situation to you, thought about consolidating and in the end chose not to.

bigisi

realheros wrote: »

The best bet would be look at your budget, then do the snowball

Why don't you concentrate on your Seattle market and let us Brits look after the UK questions.

Redredrobin

As someone who consolidated more than once over the past 15 years [slow learner] its definitely not the answer .


We made the effort went without for years but finally became debt free this year . It will be hard but worthwhile when you get through it .


While i understand the need to pay the highest interest debt first we paid off the smallest debt first , it gave us a boost actually feeling like we were getting somewhere and the payments were allocated to the bigger debts .


GOOD LUCK.