Debt and Job loss

dprovan · 27 April at 8:34PM

https://forums.moneysavingexpert.com/discussion/comment/81979053#Comment_81979053

Here you go- All credit cards between myself and wife

MBNA (w) 18,961 5% for 20 months from Jan 26 (no transfer fee)

Barclaycard (me) 2,180 14%

MBNA (me) 2,180 14.94%

MBNA (me) 9161 14.94%

HSBC (me) 95098 0% until Aug 26

Barclaycard (w) 11,743 0% Dec 2027

NatWest (me) 9,500 0% until March 2029

Jaja (me) 8237 0% until Feb 2028

Santander (w) 11,875 0% until June 2027 (no transfer fee)

M&S (me) 4,634 0% until Oct 27

so currently paying approx 2300 to these and 200 of this is interest.

MasterG83 · 28 April at 4:14PM

Start with these two in this order, pay the minimums on the others and target everything you can at MBNA £2180, then close it, next one Barclaycard…… then come back again here, I promise you the mental affect of starting to close these down is inspiring. Can you make the 10 debts into 9 quickly?

I used a page of A4, did 100 excel blocks on it and divided the debt by 100, then every time I paid off 1% I coloured in a square with a yellow highlighter. I pinned it to my door in my home office to remind me every day, what can I do to pay this off. I sold things, worked Amazon and post office shifts during covid, breaking it down enabled me to feel the small wins, even if it was 1% by colouring in the squares.