in a mess!!! plsss. help..

born2excel

Hi All,

I have a Barclay Visa credit card and a couple of years ago, i withdrew cash and now i have a outstanding debt of about £3700, for which i have been paying of interest of £85 every month (at a rate of 25.9% per month). Even though i havent used the card for the last 2 years, my spending limit has now gone above my credit limit and i am incurring default charges on that too. I am not in a position to pay back into the principal amount. I contacted barclays, but supposedly my credit rating has gone down and i am not eligible for a loan, or for another barclays credit card. i am in a fix as to how to go about undoing this mess. some guidance would be much appreciated.

thx

CannyJock

Apply for a different card and transfer the balance to it? So long as you've not missed a payment on the card it doesn't necessarily mean that your credit rating with other providers has been trashed.

EDIT: You can try and reclaim the credit card charges as being unfair too - have a look at the articles on the main site and you'll see some templates there.

born2excel

hi,

thanks for your reply cannyjock and as per your advice applied for 2 credit cards, but was rejected on both occasions. tried for a loan from the same bank, but was rejected there too. is there any other way out of this mess.../? please let me know...am quite desperate.

thx

wornoutmumoftwo

Have you spoken to the company to see if you can come to some sort of an arrangement at least to get you below the credit limit?

The other thing to do is post your incomings and outgoings in the debt free wannable board and you will get so much help in there on how to reduce your spending and get this debt paid off.