to be debt free?

sweetpea40_2

OKay all you focussed people out there. Just finished self-employment with a £6K debt on cards.....don't ask. I have cut back taken out every possible extra not required which is not easy 4 kids etc.,
I am starting a new job with a bank in July and have £5K on 1 card and £1 ish K on another. Give me a starter for 10? I am aware I need to shop around but can you debt free folks give me both the hints and the focus....I aim to be debt free asap. Thank you to all in advcance X:eek:

GeorgeUK

It doesn't appear too easy to get credit when self employed, so it may be better to wait until you're working for the bank before trying what i am about to suggest.

If your credit record is fairly good - no late payments or defaults, then you may be able to get a 0% balance transfer card such as Virgin money. This way any money you pay towards the debt will not be eaten up by interest and allow you to pay it off quicker. If you are unable to get the full limit required, you just pay the minimum on the 0% card and thow everything else at the higher rate cards.

sweetpea40_2

many thanks
Sam

GeorgeUK wrote: »

It doesn't appear too easy to get credit when self employed, so it may be better to wait until you're working for the bank before trying what i am about to suggest.

If your credit record is fairly good - no late payments or defaults, then you may be able to get a 0% balance transfer card such as Virgin money. This way any money you pay towards the debt will not be eaten up by interest and allow you to pay it off quicker. If you are unable to get the full limit required, you just pay the minimum on the 0% card and thow everything else at the higher rate cards.