Is their anything else I can do?

PaulHick1975

Hi all,

I'm new to this site and only became aware of this when i was watching Make Me Rich over the Xmas holidays.

I owe £13,000

The breakdown being:-

Egg Card £3700 (15.9%)
MBNA Card £1900 (12.9%)
Mint £3400 (0% for 9 months til Aug 06)
Sainsbury's Loan £3900 ( 29 payments left at 6.5%)

Also I bank with the HSBC and am normally have a £2300 overdraft but I'm currently just in credit and am trying to reduce this overdraft.

I have applied for an Alliance and Leicester current account which has been approved and they have given me a £900 overdraft at 0% for 1 year.

I am having trouble getting another 0% balance transfer card as the majority of cards are linked to MBNA.

My current salary is £1500 a month.

My outgoings are:-

Mortgage £450
Council Tax £125
Internet AOL £15.99
Car Insurance £33
Travel Expenses £185
Loan £142
Egg Card Payment £100

I have cancelled my gym subscription which was £40/month and I now pay when i go and cancelled my Sky from £36 to £7.50/month.

This has been worrying me for months and feels like I have a weight on my shoulders.

Any help would be really appreciated

Thanks

Paul

mrcow

Just a quickie....Halifax offer 0% on balance transfers and aren't linked to MBNA. Have you considered them?

woohoo_postingid

You may not need a 0% card (although they are nice) as you can probably get a better deal than you currently have just by doing BT's on your existing cards.

Is your £1500 salary Gross or Net?

How much do you owe on your loan?

PaulHick1975

£1500 is take home every month and their's £3900 left on the loan at 6.5% (29 months).
I used to have a 0% Halifax card would I be able to apply again?

citygal

Sorry to hear about your problem paul!

Yes, you can apply to Halifax again but there may be a period of time that you have to wait....I used to have a card with BARCLAYS and then after a year or so, went back to them again as they had a new offer....

Good luck! Hope 2006 brings you the best

Lydia.42

Hi
I'm a newbie too, so i will let the others dish out the clever advice.

Just wanted to say good luck, and maybe try calling your exisiting card companies. (I can't get anymore 0% cards at the mo) so I called Halifax today, and not only have they increased my credit limit, they have dropped my rate to 6.9% indefinitely on all balance transfers - no fee for transfers either.

My other half is with MBNA, and he has recently negotiated a lower rate, and credit increase. We are in the process of moving everything off my Halifax card now, so that i can jam it full again at the lower 6.9%.

Also in amongst our various mountain of debt i have an A & L credit card which i called last week to find out when my 0% ran out. The nice lady answered my query, and then said 'by the way - call us a few weeks before this date, and ask to negotiate a better rate'. Made a nice change to have good advice from the corporations.......hence my call to Halifax today! :j
Good luck.

Thefunkygibbons

Is that a full statement? Do you eat?

Can you construct a full account perhaps using old bank statements and I am sure that we will be able to find a few more opportunities for you

PaulHick1975

The £450 is part of a standing order that goes into the joint account for mortgage, food, bills etc)