Debt.......Oh dear.....and a bit confused?

[KatyMac]

OK I bought my DH a new car in September £11,000

In October our income went down by £700 every 4 weeks.

Currently our income = our expenditure apart from the loan

I have managed to get £3000 on interest free until Sept and £6,500 at about 8.9%

Can I do any better?

If not for the miscalculation we would have paid off £7000 more (damn)

Abbey & Natwest Unfortunatley..

What about taking out an interest free credit card then transferring the money out to your bank account then using that to pay off the loan?

Just keep changing credit cards every time the 0% runs out. that's what I did.

Katy - did you get my CAT?

Yes Georgina - I've emailed you back

I don't seem to get enough credit limit, see the egg card I applied for last night, £750 won't go far

Ah, these are rates for "normal" loans though....

Not received your email back here yet though

Katy, I work for the marketing department for a loan provider (no booo's please!) You should be able to get a personal loan from about 5.9% (if you have a clean credit rating) if you shop around (try Tesco, Direct Line, Northern Rock, Alliance and Leicester). To reduce your monthy outgoings you could look into spreading the loan over more years. You may be able to find a loan that has no early repayment penalties so if your circumstances change you could up your payments to pay off early and pay less interest in the long run. Taking a loan out online is usually cheaper. Shop around and don't take much notice of the Typical APR on the adverts (you may get more or less than the price advertised). Also if you want a bit of a breather you could get payment holidays or no repayments for first 90 days - you will may pay more in interest but may take a bit of pressure off for now. Good Luck

I had a limit set for me but when I phoned them they allowed me to increase it.

Going to see if I can copy and paste...

Moneyback Bank Typical 5.7% APR £1,000 £25,000 Apply
Northern Rock Typical 5.7% APR £1,000 £25,000 Apply
Cahoot Typical 6.2% APR £5,000 £20,000 Apply

Best 0% deals on cards for anyone else reading the thread who are thinking of going that route:

Virgin Money 0% 9 months 15.9% APR Apply
Morgan Stanley (Gold Card) 0% 6 months 15.9% APR Apply
Egg Card 0% 1st Dec 2005 for balance transfers. 1st Dec 2005 for purchases. 2% balance transfer fee (max £50) for new customers. 14.9% APR Apply

Sent it at 19.02.....

Hmm I'll look at the loans companies..as it has been pointed out I could sell the car (if it was mine it would have gone last October....but I can't take his car away from him)

NickyJB - I think the problem is my income...I don't earn as much as I used too.

And after looking on Autotrader I wouldn't make enough on the car - bu&&er

Marks and Spencr doing 0% for 9 months - 15.9% then after but that would be the time to get another 0% one.

Already have a M&S card

What does your dh think?

DH...? Think...? Are we talking about the same person?

So I assume that like me, you also carry the financial burdens!!!!

Saw a prog on telly today about a woman who thought that her husband should provide - basically, her father did that for her family and she thought that husband should do same.

She was a SAHM and refused to take any responsibility for their finances! I can only dream........!

If I did that we would be homeless within months - he objects to spending any money unless we buy the best. I myself would never buy a new car but DH likes that sort of thing.....

I've nearly signed up some extra children and that would mean an xtra £2000 ove the holidays - which would pay off the interest free (well nearly) and that would help - but I think some major advertising is in order

Ah, but you don't want to clear the interest free first - get rid of even part of the stuff you're paying interest on first if you can!

Interest free runs out in Sept so must clear it by 31st Aug.......otherwise large and nasty interest arrives

Ah okay, good point

I think a large influx of children over the holidays would help....but I need them to book now - mind you if I get these 3 boys I don't have much room left

It looks like I might have 6 FT fro the school holidays - so that might help

Feeling a bit more positive today