Credit card 1 E1200 11.7%
Credit card 2 E1500 9.7%
Credit card 3 E4000 - 0% interest til May '10
I could consolidate Credit card 2 and the overdraft into my term loan.
My term loan is currently at 7.9% apr .
If I were to consolidate my new repayment would be 174pw for 4 years at an apr of 9.7%
I would not consolidate. If you have 600/700 a month to pay off the cards you will have them clear or near clear by the time card 3 is at the end of the 0%interest period. Pay large amounts off card 1 and the minimum off card 2 and 3 until card 1 is clear then pay the large amounts off card 2 and minimum off card 3 until it is clear. Try perhaps to cut back on some bills and shop for bargains/2 for 1 offers in the supermarket on things you regularly use. It will take a year to clear the cards and overdraft but you will learn a lot in the process which is more beneficial than to just consolidate.
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Fair play to you. Looks like you got a plan of action and have got things somewhat in order. One note of caution though. A family of 3 expected to live on 150 euro per week might be slightly optimistic. There's bills like esb, phone etc as well as clothes to buy and weddings to attend etc. I think if you try and live on too little sometimes the bubble bursts and you could go back to your old habits. Give yourself a reasonable, but achievable budget. Good luck.
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