can anyone give me advice for my credit card debt

loulouloulou_2

Hi... i've tried.. the banks and everyone just say that i have too much credit out already!!

I can get a cc to balance transfer too but only for about £1500... so im not sure if it would be the best to do... i like that it in two places so i cant get confused if you know what i mean... opening up another account for £1500 may be a good idea to get the 0% i guess though?

all_hours

loulouloulou wrote:

My Virgin Credit card balance is 6950
credit limit : 7000
APR: 19.6%

Halifax balance 8250
Credit Limit: 9000
APR: 22.6%

:eek: :eek: :eek:

I currently have a £100 over draft which im not in at the moment, but just took some money i had saved out to clear my overdraft as i kept reaching the limit... it was £800.

I just spoke to my partner, we're going to chat tonight and he said hes more than willing to pay me more... we're going to go through all our finances together tonight!! :beer:

Both those cards have high interest rates.

You could apply for a low life of balance card to transfer some of it. M&S have just launched a new card with 3.9% for life of balance. When you've transferred don't spend on the card just put it in the drawer.

If you want to contribute more for nights out keep any eye on the discounts forum

http://forums.moneysavingexpert.com/forumdisplay.html?f=38

There's a daily newspaper thread where posters say if there are any offers, discounts or freebies in their newspaper. You often see bogof offers for brewers fayre etc. Sometimes its worth spending 40p on a paper just to get the voucher.

loulouloulou_2

Thanks all hours.:A

I do do this and i dont know if it'd be helpful to anyone else, but i myster shop!!!

You get to go out for dinner, or shop, or get your eyes tested and its paid for for you and you also get paid £5-15 for doing them.

The website is: https://www.retaileyes.co.uk

They pay it into your account by bacs or by check. I've done a few, been out for dinner, on a sunday they give you £30 to spend and a fiver for doing it!!!

Hope this can help someone!!:beer:

Starry-eyed_surprise

Hi loulouloulou:hello: welcome to the DFW boards
jobbingmusician mentioned the snowball calculator and I thought you might find the link useful

http://www.whatsthecost.com/snowball.aspx

KatrinaC_2

loulouloulou wrote:

just took some money i had saved out to clear my overdraft as i kept reaching the limit... it was £800.

Just a thought, but do you have any savings left? If so, you might want to consider using these to pay off some of the credit cards. The best interest rate you will get on your savings is about 10%, on the other hand you are paying 22% on one of your cards. Unless there is something you specifically need this money for, it might be a very good idea to clear as much of the more expensive card as possible.

Kat

loulouloulou_2

thanks!!!!!

I havent any savings left:eek: so im going to keep plodding along.... im going to challenge myself - see how much i can get paid off my card this month!!! i'll keep you updated!!

thanks for all your help

xx

david_hellier

According to my calcs you have £115.16 per week to spend on anything including food, clothes, booze, going out etc. I suggest you write this amount in a little book on a Monday and keep a note of what you spend by subtraction. Also keep the cc payment figures at £150 and £200 per month. Never the minimum. If you have any over in your book, carry forward to the next week.

The figures are as follows, good luck:

income weekly monthly
self 1173.00
partner 600.00







total 0.00 1773.00
409.16 divided by 4.33

409.16 total weekly income

spend weekly monthly
rent/mortgage 500.00
council tax 127.00
elec 50.00
gas
water
secured loans
TV licence 11.00
fines
maintenance 100.00
sky 36.00
bb 40.00
mob 15.00
home ins 15.00
car ins 30.00
halifax cc 150.00
virgin cc 200.00














total 0.00 1274.00
294.00 divided by 4.33

£294.00 total weekly spend

Start= income - spend = £115.16 per week

Dolly_Smith

ouch - those APRs are nasty! I got a loan out to pay off my OH's Barclaycard when we met - he paid me back in full (well we are married now!) and I was glad to do it rather than see him pay extortionate interest rates!

good luck - hope the boyf can help