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What's the best way to clear my overdraft?
kpax77
Posts: 3 Newbie
Hi all, bit of a newbie here but I was hoping for a little bit of advise.
I currently have a £1500 overdraft of which I 've constantly been in for the past 12 months with HSBC. What's the best and most cost effective way of clearing this debt?
I have a big mortgage (£125k) but no credit card debt or loans. I can't really afford a loan as things are pretty tight currently - we're spending as much each month as we have coming in!! Obviously we have to cut down on a few things but was wondering what advice people had for me?
Any help would be great appreciated. Thanks in advance.
kpax77
I currently have a £1500 overdraft of which I 've constantly been in for the past 12 months with HSBC. What's the best and most cost effective way of clearing this debt?
I have a big mortgage (£125k) but no credit card debt or loans. I can't really afford a loan as things are pretty tight currently - we're spending as much each month as we have coming in!! Obviously we have to cut down on a few things but was wondering what advice people had for me?
Any help would be great appreciated. Thanks in advance.
kpax77
0
Comments
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best thing to do is to post up an SOA and see what suggestions people can come up with for help reducing your spending
have you considered whethe you can increase you income.. ovetime, parttime job etc?0 -
gonna sound really silly now.....soa??0
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Statement Of Affairs i think
PinkPunkBird 0 -
gonna sound really silly now.....soa??
no, not silly I should have explained... read this about SOA
http://forums.moneysavingexpert.com/showthread.html?t=1072800 -
that's fab...thanks ever so much...will work through that tonight and post back. cheers again.0
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Look forward to seeing your SOA.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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