Help!!! I Need Good Advice As To What WAy To Turn

rossie_3 · 3 May 2006 at 8:37PM

I have £44k on C/C. I am currently paying bck min payments and getting nowhere. I have called all of my creditors and they are not interested in helping me on my account and stopping interest and charges. So, contacted CCCS. They were helpful but I contacted them a year ago about the same debts, that have not risen as I have not used the cards. They refered me to Debt Free Direct but, they won't help as my husband is self-employed. So, again today I contacted CCCS as he is knocking his pipe out and not seeing improvements. They are going to ring me back in a week. Please somebody, I need good advice as to whether or not to get involved with these companies. I have no arrears on my banks or loans, no HP cars, Just those C/Cards that are going to destroy me. I am a student nurse know but accumilated the debt when working and with the 2 children, I am STRESSED!. I look forward to all of your comments.

GreyPilgrim · 3 May 2006 at 9:33PM

Hi hon, welcome.

My first gut reaction would be to try and shift as much of that debt as possible onto other cards with a 0% balance transfer offer. I know cc's aren't the ideal place for any big debt by any chalk, but at least they'd be on cards which aren't stoking up the interest rather than cards that are.

And it'll give you some breathing space until someone comes up with some more constructive, long terms advice?

best wishes

chevalier · 3 May 2006 at 9:44PM

Okay now. You sound very stressed in your post. With regard to the ringing of credit card companies about freezing the interest/changing the payment, I don't think that call centre staff have this sort of power.

Which is why you need to write to the credit card companies instead. You will first have to work out a realistic budget, ie all you income and all of your expenses (and I mean everything). By looking at the things you have to buy in order to survive (utility charges, food, council tax, car and home insurance), you can see how much is left over at the end of the month. This is how much you have to offer to your lenders. Offer the one with the highest APR proportionately more.

If you contact the Citezens Advice Bureau (here is the link to the national website
http://www.citizensadvice.org.uk/), they can
a) help with what to put in the letters
b) having them involved often makes the credit card companies more amenable.

If you post a Statement of Affairs on here (which it all of you credit card debts how much each one and APR., plus all other expenditure, and all income), I am sure that there are lots of people on here who will find ways for you to cut back.

Best of luck
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