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What do I do?!

fords127s · 2021-11-02 12:45:04

Hi, I have £15,500 owing on two 0% credit cards. I BT these every time the full payment is required and pay 1% off each month, about £80 (but I pay £100 off each) that’s £200 per month. Should I keep paying £200 per month forever or consolidate in to a loan, pay £280 per month, and be debt free in 5 years?!

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Sncjw Posts: 3,614

Forumite

2 November 2021 at 4:16PM

You are not garuntteed the loan at the rate advertised so it could be more money. Plus the loan lender will take in accou t of your current debt plus another 15k taking it to 30k of debt. If they are seeing your paying a very low number I very much doubt you would get a good rate anyways. Plus add in what your wages are. If not over 30k you are very unlikely to get a loan.

Get yourself on debt free wannabe page and poat an soa to see where you could save money to put towards dbet

Mortgage free wannabe

Actual mortgage stating amount £75,150

Starting balance £66,565.45

Current balance £53,769

Cc 1k at 0 percent

1

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What do I do?!

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