Advice needed

charlie16

Hi everyone
I have just joined the forum today and would like some advice on clearing the debt on my credit cards. I have 3 cards and owe about £7000 altogether but am just managing to pay the minimum payment every month and don't see how I am ever going to clear them. I have tried to do a balance transfer but have been refused and now one of my cards has put the interest rate up from 18% to 23% starting next month. Help anyone.

Tixy

Hi and welcome

Well first you can reject the interest rate rise providing you no longer wish to use that card - see here http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases

With regards to other suggestions on reducing them this is likely to either be a case of reducing your other expenses or increasing your income some way in order to be able to pay more off your debts.
If you could post up a statement of affairs (using this link http://www.makesenseofcards.com/soacalc.html) then people might be able to make suggestions how you can do one or both of these as well as they best order to repay your debts etc to pay the least interest.