Consolidate the credit?

pearsey99

New to this site and the question might have been asked already, but cannot seem to find an answer - heres the breakdown:
5k - MBNA - 0% ends March 2008, then its 27.9% (£90/month interest)
3k - Natwest - 0% ends July 2008, then 13.9%
1k - Tesco - Currently 14.9%

Have a nipper on the way next month,
A) Should i consolidate with a longer term loan @ 7% (ish)?
Will all this debt effect my re-mortgage application in May?

We are paying £300 & £200 off respectively but wont be able to keep this up with another mouth to feed, would appreciate any advice, seem to be going around in circles....or any numbers for helplines so that we can plug away and get ourselves out of this....

KiKi

Hi Pearsey99

You might also want to try posting this on the Debt-Free Wannabe board as they will always be able to offer really good advice on managing credit card debt and/or consolidation. They will also offer lifestyle change support and numbers of people to call to help...they're a great bunch.

Suggest you copy this post on that board, too.

KiKi

daveyjp

Pay minimum off 0% cards and pay as much as you can off Tesco to get rid of it. Then swap payment to reduce MBNA and minimum to Natwest.

At remortgage time borrow to pay off the other cards and get rid of them. Consider remortgaging to a mortgage which allows overpayments monthly then you can reduce your balance on your mortgage rather than on credit cards.