Is this worth doing? Balance transfer

[waffilyversati1e]

I am in debt. A lot of debt. A nice dose of depression hasn't helped but I am trying to sort it out and I think I need some guidance.

I have a very account with 2.5k on it and I have a credit card with 10k on it.

I have applied for a balance transfer card which is 0% for 28mnths but only has a limit of £1400 and the charge for transferring what would effectively be just 10% of my balance would be £37. Is it worth paying the charge and transferring 1400 of my credit card balance so I am not paying interest on that amount? I don't know what to do for the best.

I am not paying for things on credit now by the way and I am paying a little bit above the minimum repayment. Basically just chucking £10 at it where I can which is not as often as I would like during the school hols!!

If anyone can help me please do, it all feels a bit hopeless today.

I would look into doing an IVA or Scottish Trust Deed if you are struggling so much it will mean you have no credit rating and have to pay what you can afford and the rest is written off after 3 years

I did look into an IVA but part of my problem is that I am in a difficult relationship (OH had had to halve his wages due to ill health and the bottom falling out of the industry) and I am worried about my OH finding out about the debt which obviously he would if I went down the IVA route.

thank you for replying, I really appreciate it x

Ring CAB or step change and get some debt advice

You need to let OH know.

It depends if transferring 10% of the balance would save you more than £37 in interest. If it would then do it.
Also, your DH really needs to know.

Your husband should know. You need to call citizens advice to get the best advice