Credit card Debts.

MoMayat

Hello,

I'm new to this forum.

I have credit card debts amounting to about £12k.
Is it better to take out a loan for that amount and pay of my credit cards? As this would reduce my monthly credit card payments and also in the long run I will be paying less interest.

Can someone help me as to the best way to clear these cards. I have cut back on everything I can think off, but I am still struggling.

Mo

NickX

Hi MoMayat,

I think your question may get a better response on the DFW (Debt Free Wannabee) Board, there are many people who have beaten debts before and can give you good advice on how to tackle this.

If you feel that you are in serious trouble, its worth contacting the CAB (Citizen's Advice Bureau) who offer a free service, will negotiate with your creditors on your behalf and have access to professional legal advice if necessary.

Good Luck.