Is this a good idea

minilinxuk

Hi,

I have the following CC debts

Egg.com £800
Natwest - £2100 (no interest due to bal transfer from egg 6months ago)
BankofScot - £1600
Barclaycard - £80

Now, I've got another 6months or so on the Natwest card before I jump ship to somewhere else as this is my biggest debt, but I'm over the breadline as it were with my monthly outgoings and in order to lessen the amount going out on CC debts, do you think I should spread the debts of the three other cards onto the 3 cards to try and lessen the monthly repayments

So for example so that each card has around £825 on it.

It's the only way I can think of lessening the monthly payments.

After writing this it sounds like a stupid idea, but what do you think?

Cheers

Minilinxuk

RAS

Hi

You need to post up the full inforation about the debts - APR, minimum payment, maximum.

The general rule is pay off the most expensive debt first. you can see how this works by playing the snaowball on www.whatsthecost.com

Also have a look here, http://forums.moneysavingexpert.com/showthread.html?t=107280 as there may be ways of making your money go further.

minilinxuk

Thanks for the links, the question was asked off the fly, I need to sit down and collate all of this info

Cheers

RAS

Getting anywhere?