Stuck with high interest

Rose56

We have 2 cards with balances of £7000+ and £3000+. Last year my husband was in hospital for a while then off work for 3 months and I didn't realise payments were in arrears until some months later. I arranged a re-payment plan with the companies and we are now back on track but are paying £170 a month on one card and £130 on the other. With the high interest rate only £50 of this actually comes off each balance. I have tried to get a loan to reduce the monthly outgoings and also to ensure the debt is repaid within a few years but, I guess because of the credit rating, all applications have been refused. Can anyone advise how we get out of this situation?

mummytofour

Have you tried asking the cc ppl to freeze the intrest? or at least give you a lower rate, lay on on think and explain how you wnat the debt paid off.

Call_Centre_Monkey

If you go about it the right way they may be able to reduce the interest a bit for you. Just say you're considering moving the balance to another card, and say you've been quoted x% by another provider. They then may be able to come to some sort of compromise.

Make sure and just say you're thinking about it, don't want them closing your account