Clearing my debt

Vikingfan

I need some help not sure If I should ask this here or on the debt free forum.
I am overdrawn regularly by around £1800 and when I get paid I am either still overdrawn by a couple of hundred or If I'm lucky I break even so by the end of the month when all bills and living expenses are paid I am back to
-£1800.
My only credit card I have is paid off in full every month (usually around £400)
I am thinking of stopping the credit card being paid off in full and try to transfer the debts from my bank to credit card to get my bank balance back to a healthy point and then transferring my debt off my card to a 0% for 12 months card such as Halifax, but I probably wont be able to pay off the maximum per month to clear my debts (£200 a month) so if debts not paid off can I trasnsfer the remaining debt to a new card with a similae 0% offer?
Does this sound the way to deal with my problem? Also do any of these cards carry a Bt fee as most of them say 2 % or 2.5% but I Have read on here that they don't if not why does their literature say thgey do?
All help and advice welcome
Thanks

grumbler

Vikingfan wrote:

...I probably wont be able to pay off the maximum per month to clear my debts (£200 a month) so if debts not paid off can I trasnsfer the remaining debt to a new card with a similae 0% offer?

Generally yes, but you can never be sure that you will be accepted for a new 0% card or will be given the limit you need. This depends on your credit rating: Your Credit Rating: How they decide and how you find out for free

Does this sound the way to deal with my problem?

Yes, but only if you make your best to repay the debt.

Also do any of these cards carry a Bt fee as most of them say 2 % or 2.5% but I Have read on here that they don't if not why does their literature say thgey do?

This varies for different cards. Yes, only minority of cards don't charge for BTs now:
http://www.stoozing.com/0fees.htm
Full list of Credit Cards which offer 0% BTs without charging a fee

Consider also Easy Route, a one off move for permanently low rates

MikeLB

Could you not arrange with your bank to gradually reduce your overdraft every month in small amounts. Or make a point of reducing it by say £25 to £50 a month and phoning them to reduce your limit every time. That was how i tackled my Overdraft. Yeah took a while but you can work around a £25 - £50 a month target relatively easily with just a few small cuts.

I would keep paying off your credit card in full though, because otherweise it basically looks like you are robbing peter to pay paul and get nowhere fast.