quick question on interest?

glenandemm

hi guys ive got nearly £18000 in cc debt,however i cant transfer any of it to an interest free card so am getting nailed in interest,im trying to pay more off but its just gutting when you pay so much than they take half of it for interest,now can i and has anybody ever phoned the cc company and had a chat about maybe trying to get them to help you out and maybe give you a lower rate for a period of time or something like that as im starting to struggle with them slightly now?
any advice would be great,thanks glen

Moggles_2

Have you tried asking each of your providers to lower the interest rate? (you can do this over the phone). You may be able to reduce your costs considerably. For details, see Martin's *Credit Card Shuffle* article

http://www.moneysavingexpert.com/car...-card-interest

Meanwhile, I would stop spending on your credit cards, if you haven't already, and concentrate on paying off as much as possible each month. Clearing this debt ASAP will reduce the interest you pay and you'll be building a better credit history in the process. This, in turn, reduces the risk that your lenders will raise your interest rate(s) again.

If you're struggling to pay more than the minimum payments due, might be an idea to post a statement of affairs on the *Debt-Free Wannabe* board. You'll get lots of advice and support there from users who have faced similar situations

http://forums.moneysavingexpert.com/forumdisplay.html?f=76