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Credit help required please
mariejader
Posts: 413 Forumite
in Credit cards
I have been trying to make sence of this section but it's so confusing I am going to ask for help.
About 6 years ago we lost our jobs due to company's moving etc and had a nice redundancy settlement which we did not use to our advantage spent it on holidays etc! any how we got into difficulity with our payments and I think this effected our credit rating.
Thankfully all these bills have been paid back and I now hope my credit rating is better also I don't have any credit cards
I currently have a load with Barclays for £5k would need to borrow £5800.00 to pay it off with interest,this loan has a 15.9% APR which I have just found out this am, I originally got the loan in Dec 04 for £3k and topped it up in Aug 05 to £5k, my repayments are £147.58 per month which are ok and I have never missed a payment.
After reading this site about 0% interest it has got me thinking that I should also move my loan to a card with %, but I don't know which one would suit me best, this is where I am hoping you guy's can help me.
The other problem I have is we are on a low income now as we have our own business, my bank account is in credit now and I finally have some savings.
Do you think I can get a better deal than with Barclays?
Thank you in advance
About 6 years ago we lost our jobs due to company's moving etc and had a nice redundancy settlement which we did not use to our advantage spent it on holidays etc! any how we got into difficulity with our payments and I think this effected our credit rating.
Thankfully all these bills have been paid back and I now hope my credit rating is better also I don't have any credit cards
I currently have a load with Barclays for £5k would need to borrow £5800.00 to pay it off with interest,this loan has a 15.9% APR which I have just found out this am, I originally got the loan in Dec 04 for £3k and topped it up in Aug 05 to £5k, my repayments are £147.58 per month which are ok and I have never missed a payment.
After reading this site about 0% interest it has got me thinking that I should also move my loan to a card with %, but I don't know which one would suit me best, this is where I am hoping you guy's can help me.
The other problem I have is we are on a low income now as we have our own business, my bank account is in credit now and I finally have some savings.
Do you think I can get a better deal than with Barclays?
Thank you in advance
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