Time to change

debtfreedreamer25

Good morning all,

Like many, I set a 2024 goal of becoming debt free. I didn't add to my debt (aside from interest accrued) but I am entering 2025 in roughly £8k debt, spread across paypal credit (4.5k), Argos (1k) and Next (2.5k). I'm getting by on minimum payments each month, sometimes a little more. I've been stuck here for so long and for some reason convinced myself this was ok as it wasn't a "proper credit card". Please, no judgement, I know better now.

I wanted to consolidate the debts onto one low interest credit card but believe I can't due to the type of credit they are.
I've heard of money transfers but despite reading about it, I find it confusing and I am so scared I'm going to put a foot wrong. I don't understand a lot of the jargon and just need to find the light at the end of this tunnel and make this feel manageable.

Thank you in advance for any advice you can give me.

RAS

Do not consolidate your debt. Are you currently able to pay the monthly debts as well as your essential living costs.

It would help us help you if you did a Statement of Affairs www.lemonfool.co.uk/financecalculators/soa.php including the exact value of your debts and the APRs for each. As you say because these are "store" cards rather than credit cards, balance transfers are harder.

We may be able to spot things in your budget where you can improve the situation, or suggest ways or sorting out your debt. 

The other thing to consider is that you've plainly been buying stuff? If you look around is there anything that is in good nick that you could sell? Maybe not immediately because there's a post-Christmas rush but later in the spring?