Trying to close settlemy credit cards

weewizard69

debrag wrote: »

what is your plan with them at the moment? why are you so against a default? yes I know they hurt your report but are you wanting more credit. At least with the default you aren't asked to pay the full amount back in one go.

Save save save as much as you can for a few months

Im trying to repair my rating as that is effecting mortgage rates, and other credit oportunities like financing a new kitchen or a small loan towards a car.

my partners credit is fine, its just mine is screwing things up.

If I paid all my cards of with the loan I would have one open credit account. And the 6 cards would be settled etc. The loan could be paid of quicker as potentialy my rating will improve over the duration and the apr will be reduced as they have said they will move my loan around as I become entitled to new rates / loans

do you get my drift ? sorry if it sounds confusing

weewizard69

debrag wrote: »

oh what credit report do you view?

Experian & Call Credit

debrag

weewizard69 wrote: »

Im trying to repair my rating as that is effecting mortgage rates, and other credit oportunities like financing a new kitchen or a small loan towards a car.

my partners credit is fine, its just mine is screwing things up.

If I paid all my cards of with the loan I would have one open credit account. And the 6 cards would be settled etc. The loan could be paid of quicker as potentialy my rating will improve over the duration and the apr will be reduced as they have said they will move my loan around as I become entitled to new rates / loans

do you get my drift ? sorry if it sounds confusing

I know what you are saying but you will continue to be in debt. You said a loan for £5000 that doesn't cover all you cc's IF you get the loan CUT UP your credit cards!

I did the same thing and ended up with double the amount of debt

weewizard69

debrag wrote: »

I know what you are saying but you will continue to be in debt. You said a loan for £5000 that doesn't cover all you cc's IF you get the loan CUT UP your credit cards!

Yes for sure,

My Cards were cut up and returned to the Companies in 2005.

RAS

I think you are being spun and amazing tale.

if you clear the two very small accounts with defaults - one next month and one the month after, your credit rating will improve a lost faster.

debrag

the thing is I don't think he is willing to cut back on anything or tell us there this extra money is going which would easily clear the defaults.

We can't help if you don't let us

debrag

weewizard69 wrote: »

Im trying to repair my rating as that is effecting mortgage rates, and other credit oportunities like financing a new kitchen or a small loan towards a car.

my partners credit is fine, its just mine is screwing things up.

If I paid all my cards of with the loan I would have one open credit account. And the 6 cards would be settled etc. The loan could be paid of quicker as potentialy my rating will improve over the duration and the apr will be reduced as they have said they will move my loan around as I become entitled to new rates / loans

do you get my drift ? sorry if it sounds confusing

if your wife has such great credit then she can get the finance for the kitchen etc

lilian1977

This board is starting to frustrate me, it seems to be filling up with people who want a magical solution to their debt but don't want to compromise on any part of their lifestyle.

You HAVE to cut back, even for a few months. Listen to what RAS is saying, they are very knowledgeable about this kind of thing. Once you clear the smallest debt your rating will start to improve. You could easily do that in a few months if you just stopped saving for holidays and had a few cheaper nights out/cheaper grocery shops.

Also - PLEASE remove the images with all of your personal details on or you'll rapidly find yourself in more debt due to fraud....

weewizard69

lilian1977 wrote: »

This board is starting to frustrate me, it seems to be filling up with people who want a magical solution to their debt but don't want to compromise on any part of their lifestyle.

You HAVE to cut back, even for a few months. Listen to what RAS is saying, they are very knowledgeable about this kind of thing. Once you clear the smallest debt your rating will start to improve. You could easily do that in a few months if you just stopped saving for holidays and had a few cheaper nights out/cheaper grocery shops.

Also - PLEASE remove the images with all of your personal details on or you'll rapidly find yourself in more debt due to fraud....

Hi Lillian,

Removed the images

Thank you for your valued comments.

My decision now as it stands:

1. Cut Back - As best I can, use this cut back money as over payments on my two lowest cards, to get them settled.

2. Pay of any extra remaining monies onto my Capital One Card, then in June see if I can get a settlement amount less than the proposed £1870, and try to pay this of save getting a default.

3. Continue paying my other cards card’s as agreed with creditors, hopefully increasing monthly amounts as more money is freed up.

Continue like this for approx 2 years after which I will be debt free and have 0 defaults on my credit file.

Guys,

Does this sound the best solution?

debrag

yes that is the way to go