Just dreaming..

bertman

Like many others on this forum I have some major debts on credit cards. Over the last 6 months me and OH have managed to get all the cards up to date in terms of payments, we have even (with terrible credit ratings) managed to move some debts to lower APR's and in some cases even no interest for a few months.
I have two cards with HSBC they total over £12,000 but the APR's are 34.9% on each, try as we can we can't get the companies to redice the interest and we have no other way of getting lower interest on these. The minimum payments are about £200 on each of which only a fiver each month goes towards the debt!
I dream of the day when we can get an interest free offer and get these debts off HSBC and over to an interest free option so the money we pay each month will blast away the debt.
It really hacks me off that they have low and no interest options but we are stuck with this high rate of interest..

Just a bit of a rant - but one day.....

Fitzer2000

Hi Bert, When did you take the cards out, was it pre 2007? If so they might be unenforceable. Check out "Unenforcibility and Templates" thread. Look at flow charts on page one.

bertman

Thanks Fitzer - may be worth a try

savingholmes

Hi Bertman - I would be tempted to look at the Make £10 a day challenge and relook at your soa and see if there is any way you can pay off these debts quicker.... Also look around for better rates perhaps 6 monthly and see if you can get a better rate. Will your own bank not give you a better rate? Worth asking one of those personal bankers if you are pre-approved for anything?