What else can we do?

Staciep88

Current Situation:

OH

Mint Credit Card (0%) - £771.75 - £70 monthly payment - 11 months left
Virgin Credit Card (0%) - £926.82 - £70 monthly payment - 13 months left
Barclaycard 1 - £45.23 - will be cleared on 9th September
Barclaycard 2 - £2988.75 - £85 m.payment - try to pay atleast £100 monthly
Barclay Loan - £1247.62 - £218.85 - approx: 6 months left

MY DEBTS

Egg Credit Card (0%) - £474.65 - £45 monthly payment - 11 months left
Car Finance - £6443.50 - £184.10 monthly - 35 months left


I have done a SOA but I havent posted it as we really cannot cut back on anything, we have already cut back on what we can. So my question is;

Im not worried about my debts - theres no more I can do about them but I have already switched a bit of OH debt to other 0% cards but there is still that £2988.75 on that Barclaycard which is at about 30%APR!! :eek: If we could just get this one sorted things would be alot more comfortable as the current interest charges are a killer.

Should we apply for another 0% card? or a loan with a cheaper rate? or any other suggestions?

Thanks

RichOneday_2

What about your existing 0% cards? Would they accept another transfer?

Staciep88

nope, they are on the limit near enough i am aware of asking for a credit limit increase but as the cards are new I have to wait 3 months

moo2moo

Can you pay the absolute minimum on the 0% cards and throw everything you have at the 30% loan short term to reduce that as quickly as possible then as the 0% cards get closer to ending transfer the balance to another 0% card paying a 2.5% penalty but using Quidco to get some cash back towards the cost of the transfer?

Staciep88

moo2moo wrote: »

Can you pay the absolute minimum on the 0% cards and throw everything you have at the 30% loan short term to reduce that as quickly as possible then as the 0% cards get closer to ending transfer the balance to another 0% card paying a 2.5% penalty but using Quidco to get some cash back towards the cost of the transfer?

I did think about this but then what if we dont get accepted for a 0% card when the time comes around again?

moo2moo

If you failed to get 0% deals and the CC interest rates are less than that of your loan you'd be better off anyway.

twirlypinky

Assume borrowing from family isn't an option?

Staciep88

twirlypinky wrote: »

Assume borrowing from family isn't an option?

his family will not do this - i dont know why

moo2moo

His family don't have to do this. Nor should they do this. His siblings / parents/ relatives shouldn't have to go without because of his mistakes. Some peoples relatives choose to or feel obliged to. Others feel that if they give him more money it will go the same way as the money you've already spent that you didn't have to spend.

At the end of the day his debt isn't his extended families responsibility.

Edited to change the tense used from "your" to "his". The content remains unchanged. Apologies to the OP for implying the debt was hers.

Staciep88

umm excuse me but if you had read the first post i have clearly stated that the debt is his. I have listed my debt underneath to create a clearer picture. him getting himself into debt is nothing to do with me, thank you very much, im just trying to get him out of it!

moo2moo

Post ammended. Apologies for the incorrect use of the word "your". Have changed it to read "his"