Mortgage Payment Holiday with Job in hand

mk2008

My Mortgage renewal will be in March 2022. Can i use 6 months Payment holiday to clear out my Credit card debit? Any impact on Credit score as i am still in Job and claiming payment holiday

bradders1983

Anyone using a payment holiday when they dont need to is, to be brutally honest, an idiot.

poppy12345

You're stil working and you're asking whether you can pay off your credit card. May i ask why you have the mortgage payment holiday?

mk2008

poppy12345 said:

You're stil working and you're asking whether you can pay off your credit card. May i ask why you have the mortgage payment holiday?

I have been made redundant and job will end in Sept.

sharpe106

You are basically using secure debt to pay unsecure debt never a good idea even if it saves money. You don't pay your mortgage you can lose your house, don't pay your credit cards, you cant get any more credit basically. Which option would you prefer?

poppy12345

mk2008 said:

poppy12345 said:

You're stil working and you're asking whether you can pay off your credit card. May i ask why you have the mortgage payment holiday?

I have been made redundant and job will end in Sept.

It's only July.

mk2008

Idea is to payoff credit card before loosing job and try to secure new job in 3-4 months during Payment Holiday