credit card debt

iceage3

hello people

i have just lost my job and had to take redundancy money
i have 5000 on cards debt
three are 0%
hsbc till may 2010
mbna till feb 2010
virgin till dec 2010 fully maxed
i have two other cards which i spend on but not 0%.

any help please or advice

Kavanne

how much redundancy money did you get?

iceage3

about 5000

*Vikki*

Use that then to pay off your debt.

iceage3

good point but i dont want to go in the red .jsa 60 pounds a week
thanks

CLAPTON

one can't possibly answer your question without knowing your circumstances

-income
-spending
-any savings
-redundancy
-other credit cards balances
-likelyhood of re-employment

stephane_2

First thing you need to do is contact all your credit providers and explain your current situation. They should be able to offer some sort of help until your find yourself a new job (reduce payments, token payments....) but if they accept any deal then it is likely that they will freeze your accounts. The last thing you want is wait for them to contact you!!!

iceage3

i have no savings just 5000 redundancy money
first 0% finishes dec 09
balance 2500
i am looking for work but seem to be getting no where i only get 60 jsa a week
i spend money on the other two cards which are not 0%
one is 900
other 400

iceage3

stephane wrote: »

First thing you need to do is contact all your credit providers and explain your current situation. They should be able to offer some sort of help until your find yourself a new job (reduce payments, token payments....) but if they accept any deal then it is likely that they will freeze your accounts. The last thing you want is wait for them to contact you!!!

would this affect my 0% deals as i am not worried about them at moment.

CLAPTON

-income
-spending
?

iceage3

60 a week plus 5000 redundancy money
i have kids so its hard not to spend ?

i need advice on how to beat this if any one has been in same situation