I'm not suggesting you borrow more to repay the debt as that is very rarely a good solution. I am suggesting you play for a bit of time...One year, by taking an interest break and restructuring your existing liabilities.

If you've still got a decent credit rating apply for an interest free card that allows you to place the overdraft and if possible the other card balances or as much as possible onto it, thus allowing you time to reduce the overall capital you owe ...subject to a high enough limit being granted. Then firstly clear off as much of the balance on the higher rate loans as possible, whilst always paying at least the minimum on the lower rate liabilities.

However, you will have to exercise extreme self discipline not to run up the overdraft (end it) or the cards you manage to transfer (cancel them if you do transfer the balance)........otherwise the whole point of doing this will become negated and made worse still, by you running up further additional debt.

One suggested card below.. offering free balance transfers which accepts overdrafts, other cards & loans is Egg card 0% interest free until May 2010 (3% fee applies).

This would give you a good year in which to restructure, plan and lower your outstanding sums to a manageable figure by the time the interest free offer expires. !

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

I get paid monthly but my overdraft is higher than the money coming in every month and so I don't ever pay the whole overdraft off. I've got three credit cards, a store card and a personal loan. I pay the minimum repayments on all the cards. Because I've never got any spare money I can't see to getting rid of the overdraft and I'm just going around in circles. If I had money over I could pay off a bit more on the cards to get them down, maybe balance transferring a couple of them. I don't know what to do and its stressing me out and getting me a bit depressed really. My overdraft is around £1,500. Do I try and get another loan to get the cards paid off? Do I get another card which transfers money into my bank account to get rid of the overdraft? Any advice would be welcome - please!