Pickled!

shelleywa · 18 August 2008 at 7:27PM

Hi people,

I'm in a bit of a pickle and am hoping someone can give me some advice. I originally decided to be a 'card tart' to eliminate my debt. After being refused for a couple of high-end cards, I lowered my game and applied for a couple of medium ones - and still got refused. I've just been on the money Supermarket site (redirected from this site) and did the little 'how high a risk are you?' quiz and it turns out my score is pretty poor! Although I don't really know WHY! My main concern right now though, is shifting this debt.

I am currently paying around £240 per month. That's on 2 x low-interest loans - about £150 per month. And the rest is going on 2 x credit cards that are really screwing me over! But if nobody will let me shift it to a 0% card, what can i do??

Is the best plan of action credit cards, a loan or something else? What am I likely to be accepted for? I've already applied to the main credit card companies, so can't re-apply for something different. I've been refused by my bank I've asked my loan company to increase my loan in the last 6 months and been refused, so I'm guessing that's a no-go. I've also only had my current job for 4 months and been at my place of residence (rented) for 3 months, which probably doesn't help.

Bottom line... am I totally screwed??

Thanks! :j

Horace · 18 August 2008 at 7:32PM

Shelley - I think the fact that you have only been in your home for a short time and working for 4 months doesnt help. Perhaps if you post your SOA (statement of affairs) we will be able to see what you have coming in, going out and where you can make cutbacks. https://www.makesenseofcards.com/soacalc.html

RAS · 18 August 2008 at 7:33PM

Hiya

First off - stop making applications. If you make more than three, then your credit rating goes down.

Secondly, there is a credit crunch right now, so even ths with high credit scores are struggling to get the best deals.

If you are young, male, in rented accomodation and in a new job, you are not prime lending material.

Are you on the electoral roll at your new place? Sort that.

Stop making applications short-term.

Post up a proper SOA, http://forums.moneysavingexpert.com/showthread.html?t=107280, so we can see what situation is. it is important to include the APrs for those debts.

Pay the minimum on the cheapest cards and find something to start hitting the most expensive card with. Do you have stuff that can go on e-bay, amazon or to a car boot sale. Can you economise for a few months?

CAFCGirl · 18 August 2008 at 7:35PM

Hi Shelley,

I would say from what you've posted, you are far from screwed.
What you need to do is complete a full SOA regarding your incomings/outgoings.

If you've been applying for lots of credit in a short space of time, that will work against you.
Why do you think your credit cards are screwing you over? What balances do you have and at what APR's?

Pickled!

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