Some constructive advice needed :-)

kimlisa66

Morning moneysavers

I'm after some advice about restructuring an overdraft into a more affordable solution.

For a full transcript of my situation, I have posted under Debt Free Wannabe, and my journey into a Debt Free life. Its long, apologies for that, but a lot of detail.

My OH and I separated last year, various debts between us, the most difficult to resolve is our joint acc overdraft of £2350 with Abbey. We now are responsible for our own household bills from our own accounts although hubby is still paying the mortgage as his income is far greater than mine. We agreed to pay in £100 ea per month to clear overdraft but, with interest charges added at approx £30 pm its gonna take a while to clear. The only other thing coming out of the joint acc is the endowment £47.80 pm which we agree to pay until maturity, unless we get divorced first.

Im slowly paying off my CC's 50pmonth, all but one are on 0% and hoping to transfer the one on 12.something to Virgin 0% but that's proving slightly more tricky than I anticipated....I really must check my Credit file at some point.

Anyway, any ideas much appreciated.

Kim

kimlisa66

Not one reply, wondering if I have done something wrong ?

Kim

bloomers5

Hello I am in a similar boat and wondering what to do.
We are about £2,800 in debt on our joint bank account and we are charged £35 a month interest - aarrrgghh ....

Pls Help is there anything I can do about this -- apart from taking out the loan my bank keeps offering me.

MPH80

I'm not sure what answer either of you want ...

You have money you owe ... and you are frustrated the banks are charging interest?

Do you want ways to avoid paying interest? Well - read up on super balance transfers and find a 0% credit card ...

Other than that - I suggest the DFW board is the best place for these questions - not the C/A forum.

kimlisa66

No, I am not frustrated the bank is charging me interest, that isn't the point, the question was put to others that might be able to offer a constructive suggestion as to a cheaper alternative, and in the current climate, I doubt I will be offered a credit card at 0% with a 2.5k credit limit. And forgive me if I am mistaken, but is this not the current account forum ? Have I misread the title ? No !

It's clear you do not have a constructive suggestion, so please desist from responding and wasting my laptop battery if you can't offer any valid or realistic advice.

Kim

mum2one

Hi Kim

I dont know if its any help but the halifax has just brought out a 15 month 0% interest transfer on credit cards, may be worth a try.

Re overdraft, maybe when youve paid 6 months it would def be worth contacting the branch and ask them to reduce the charge, by then your be able to show commimtment to repaying.

Sorry couldnt be more help x

kimlisa66

Hi there

No that's really useful, thank you, might work too as I have the mortgage with Halifax. I wouldn't mind so much but it was down to my OH that this overdraft is so large. He was reckless with money, but I am jointly responsible and should have kept a closer eye on it....paying the price now lolol

I will look into it as soon as I can

Kim