Need Help to Pay Off Credit Cards!

Danny02_2

Am currently remortgaging and tried to get additional borrowing of £12k to consolidate credit card debts. The mortgage is fine but the additional borrowing was refused although I have plenty of equity in the property and have been with lender for years! Desperate to pay off the credit cards but just can't do it - was refused 0% balance transfer card so obviously have bad credit somewhere, or partner does! Ordered Experian report yesterday but how can I get rid of these cards - am paying minimum amount each month and can't afford to pay much more! HELP!!

Danny02_2

New to this today and posted a "Need Help to Pay Off Credit Cards" and have had no responses! Does that mean I'm beyond help!! ((

CLAPTON

get copies of all three of your credit records
get copies of the same for partner
see what they say then repost

do you have a proper budget and know exactly where you money goes.. a good format
http://www.makesenseofcards.com/soacalc.html
fill it in and post up the figures


then we'll all be able to see the financial picture and be in a better place to advise.

Moggles_2

Welcome to MSE!

I was refused 0% balance transfer card, so obviously have bad credit somewhere ...

There are any number of reasons why a given lender may refuse to extend credit, so I would keep an open mind until your Experian credit report arrives. Experian encloses guidance notes too, which are a good read

... or partner does!

If you share a financial product (eg. mortgage) with someone else, then you are financially linked to them and their affairs could have an effect on your credit rating, but simply occupying the same house as your partner, has no effect whatsoever.

To help you further, we would need to know which cards you have at the mo or have held recently. Also, which 0% BT card you've applied for unsuccessfully.