We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Loan to pay off my Credit Cards?
Casaloko2k7
Posts: 42 Forumite
in Loans
Well im going to Greece in may to work for 5 months and last year i got into £5k of CC Debt. Im undergoing a DMB for them but thinking if i could try and get a loan to pay then off so i dont have my credit file Affected and that i can breathe easier knowing i owe to just one company.
Plus as im going away it would be less complicated for me than having 2 creditors or the DMP
Can you have a choice of when to start paying back monthly payments does anyone no?
Any opinions?
Plus as im going away it would be less complicated for me than having 2 creditors or the DMP
Can you have a choice of when to start paying back monthly payments does anyone no?
Any opinions?
Officially DEBT FREE as of 12/01/2010 :j:j
Total Debt [STRIKE]£5400[/STRIKE]/£0
Having Debts Can Make You Feel At Rock Bottom, Always Remember People Are Here To Help. Detirmination Is The Key To Your Debt Freedom
Total Debt [STRIKE]£5400[/STRIKE]/£0
Having Debts Can Make You Feel At Rock Bottom, Always Remember People Are Here To Help. Detirmination Is The Key To Your Debt Freedom
0
Comments
-
what do you mean ... 'Im undergoing a DMP for them '??
Does that mean you have stopped paying the (contractual) minimum payments or what?0 -
Think carefully before doing this. I did the same last year, got a loan and paid off my credit cards, I then made the mistake of carrying on using the cards and ended up owing the cards and the loan. If you do do it then my advice is to cancel the credit cards once paid off so you don't have the temptation again.0
-
Why are you peddling your site with every answer?moneysavingexpat wrote: »Here here, if you do get a loan to pay of your credit cards - cancel them and destroy them so you're not tempted to use them!
This is such an easy way to get yourself into a lot of financial hot water!0
This discussion has been closed.
Categories
- All Categories
- 347.2K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.8K Spending & Discounts
- 239.5K Work, Benefits & Business
- 615.4K Mortgages, Homes & Bills
- 175.1K Life & Family
- 252.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards