10 tips for paying off your debt. by Sarah https://padlet.com/academic_services/debt Advice provided by Which? (www.which.co.uk) en-us 2016-11-28 11:22:03 UTC 2016-11-28 11:39:10 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Bagshop.png 1. Switch to a 0% balance transfer credit card academic_services https://padlet.com/academic_services/debt/wish/140130490 2016-11-28 11:24:20 UTC https://padlet.com/academic_services/debt/wish/140130490 2. Reject future interest rate increases academic_services https://padlet.com/academic_services/debt/wish/140130764 You won't be able to make further purchases but you can pay off the balance in full (if you are able to) and avoid excessive interest charges)]]> 2016-11-28 11:25:41 UTC https://padlet.com/academic_services/debt/wish/140130764 3. Join a Credit Union academic_services https://padlet.com/academic_services/debt/wish/140130849 They tend to be cheaper than other lenders and Which have put together some useful advice]]> 2016-11-28 11:26:13 UTC https://padlet.com/academic_services/debt/wish/140130849 4. Avoid Payday loans and other high forms of high cost credit academic_services https://padlet.com/academic_services/debt/wish/140131100 Payday loans if used at all, should only be used as a last resort and for a very short period of time as they are incredibly expensive. If you have a payday loan and can't afford the repayments there's advice below from Which?]]> 2016-11-28 11:27:41 UTC https://padlet.com/academic_services/debt/wish/140131100 5. Improve your credit score academic_services https://padlet.com/academic_services/debt/wish/140131385 Your credit score gives potential lenders an overview of how you manage your finances. The better you are at managing your finances the better the rates you will be offered when applying for credit. Find out more below]]> 2016-11-28 11:29:35 UTC https://padlet.com/academic_services/debt/wish/140131385 6. Pay more than the minimum on credit agreements (store cards, credit cards, catalogues etc.) academic_services https://padlet.com/academic_services/debt/wish/140131689 It will take you much longer to pay off the debt by only paying the minimum amount each month. ]]> 2016-11-28 11:31:32 UTC https://padlet.com/academic_services/debt/wish/140131689 7. Use a personal loan to consolidate your debt academic_services https://padlet.com/academic_services/debt/wish/140132020 Often the interest charged on various debts will be high and it may be more beneficial to pay off all the debt using a consolidation loan for which you pay a lower rate of interest]]> 2016-11-28 11:34:16 UTC https://padlet.com/academic_services/debt/wish/140132020 8. Get advice! academic_services https://padlet.com/academic_services/debt/wish/140132164 Don't bury your head in the sand, if you are struggling, speak to someone and get free, impartial advice]]> 2016-11-28 11:35:33 UTC https://padlet.com/academic_services/debt/wish/140132164 9. Ge an authorised overdraft academic_services https://padlet.com/academic_services/debt/wish/140132347 if you know that you won't be able to meet your payments, you could seek an authorised overdraft from you bank. if you go overdrawn with no overdraft in place, the charges can be as high as for payday loans]]> 2016-11-28 11:36:42 UTC https://padlet.com/academic_services/debt/wish/140132347 10. Pay off debt before saving academic_services https://padlet.com/academic_services/debt/wish/140132558 It's always good to have money behind us just in case, but if you are paying high interest charges, then those savings are better used paying off your debt]]> 2016-11-28 11:38:16 UTC https://padlet.com/academic_services/debt/wish/140132558