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Advice on a loan.

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I have had a £5000 loan with alliance&leicester at 5.4%apr for 3 years. I am down to £1151 left on the loan, with a payment in 2 days (1st) which would make the amount £985 Full settlement of the figure is £1133 at the moment. and is going to be around £975 after the first. payments end Nov 1st.

I get payed on the 2nd May and I have £950 in my ISA which I need to decide what to do with.

I have sub £2600ish on CreditCard 0%.(13months left)
I have a 0% alliance and leicester account o/d of £700 which is maxed and i get charged £5 for each month.
I have a £200 and a £50 o/d with HSBC. both maxed, charged at around 11.9% apr.

Now I have £950 in an ISA at the minute. Trying to workout what to do with the money. As I am currently using my girlfriends car as my car caught alight earlier in the month. (charges for the recovery are owing too at £281.50)

So do I buy a new car as my girlfriend will need hers back next week, what would you get rid of first?
April £10= member no 145 £1419/£300
May £10= member no 58 £1013/£310 (15th May)

Comments

  • the 5.4% loan is quite reasonable, you would struggle to get a life balance transfer rate for lower than that so if it was me I would leave that be.

    Get rid of the HSBC debts, they have the highest interest rates and they are small, don't know about you, but clearing debts gives me a sense of satisfaction and you can clear these pretty easily so would go for that.

    Don't pay it off your 0% card, you would be better leaving the money in the ISA, getting interest in the interim period and then withdrawing it when the 0% interest rate ends. This way, you will have more money to pay off. I try and avoid overpaying on 0% cards in the promotional period as it wastes the interest you could get elsewhere.
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