How can we escape our debts

CJones_2

We have credit card debts which we are paying £550.00 per month on but the debt is hardly being touched. Approached mortgage lender but they could only offer circa £3000 additional lending due to our credit cards however we wanted about £25000 to pay the cards off and rip them up but they dont take that into account. It would appear that we have nowhere to go so cant reduce our monthly debt payments and reduce our debt. Trying to work on a 2 year plan to get rid of the debt but it looks like no one can help us do this.

Any advice ?

Looking at converting mortgage to interest only for 2 years and if we can get a 0% credit card transferring debts to that and using what we save on mortgage plus the £550 we currently spend to get rid of the card debt but that is all based on getting a 0% card.

Thrifty_Pixie

If you fill out a Statement of Affairs (SOA) from the sticky at the top of this forum people will try to help out with any suggestions they can.

baby_fuzz

I'm going to be a bit of a troll, and point out that you should not be trying to 'escape' your debts (as per your post title), but be a responsible member of society and pay them off. Having said that though, well done on facing up to your debt, and trying to get it sorted.

I'd agree with Thrifty Pixie - post a SOA, and many people on this forum will be able to give some advice on what you can save on, and ways in which you can make some extra cash.