credit card debt please help

melly_g

Hi,
please can someone advise me on the best way to clear a credit card bill of about £3500.
I applied for an amazon credit card to balance transfer but they would only allow me a credit/ balance amount of £1500 so would not help.
My credit card has a limit of £6100.
I cannot afford to pay this off and each month it goes up by at least another £1000 due to living costs.
I can only afford to pay off about £800 a month.
I have to pay at least £30 interest on this each month.
will I ever be able to get out of debt.
thanks in advance

mountainofdebt

posting this on debt free wanabee board. When you do, post ALL details of your income and expenditure, together with details of all your debts including aprs, limits and balances.

However, without evening knowing this info, it strikes me that you have cut your nose off to spite your face so to speak by turning down the Amazon card. Even £1500 at 0% interest is better than £1500 at whatever rate you are paying.

You can't continue to live on your credit card....you need to reduce your outgoings and by posting your details, people can suggest ways of doing that....it may be painful so be prepared to make scarifices.

It may also - once you have stopped living on your credit card - to reduce your limit. The reason I say this is that companies tend to look at what available credit you have and either refuse you further credit or will only allow you small amounts of further credit - this may explain your small limit on Amazon.

Please don't take offence - but there's no way you can clear a credit card debit whilst continuing to spend on it and pay back less than you spent.

Angie8

Agreed - take the Amazon card and get as much of your balance transferred onto it as possible. Then at least you have some of your debt at 0%.

However if your bill is going up by £1000 a month then you will never clear it.

You need to do a budget straight away and find out exactly where all the money is going, then cut back your spending. Otherwise you'll be even further in the mire.

As mountainofdebt rightly suggests, the folks over on the Debt-Free board will have more experience so post on there as suggested and take their advice.

You are not the only one who is struggling with debt and you will find plenty of people in a similar situation who have gotten out of the mire.