CCD Advice

as220375

Sorry if you have seen this on the CCD thread - but someone has advised me to post on here as you guys can normally advise...

I know that this is my fault but I have had a number of credit card bills for years and now I am getting concerned. i am up to the limit on 2 out of the 3. I don't have a problem paying the bills each month - but last year (before I realised that I could reject this increase) one of the cards increased the interest to 34%. I am now paying off £250 a month and £245 is going back onto the card - therefore this is never going to be paid off. I cannot afford to pay any more than the minimum payment and have attempted to get new credit cards with 0% on balance transfers but have been declined by several. With the exception of a DMP, what options do I have here to help me reduce these cards each month. I am currently paying £500 per month on credit card bills and £400 is going back on in interest. At this rate I'll be about 10,000 years old when these are cleared.
Thanks you so much for any advice

KingElvis

I'm sorry but I don't know what to suggest DMP'wise but it makes me mad that these card companies always up their charges when people can least afford it then decline the poor sods when they try and make good to get out of it.

It's almost like they like to trap people in a high interest debt trap misery hole.

Anyway, nothing's so bad it can't be dealt with so you'll have no problems. Have you contacted or thought about CCCS?

Good luck and stiff upper lip.

as220375

Thanks KE - I am really annoyed that I have been allowed to get into this situation with creditors - but then again I'm not blaming anyone else. I just want to find some way out. I know that I lived on credit - but a large amount of this debt came from IVF that we couldn't get funded so it was a worthwhile cause and not something i regret (gorgeous 1 year old twins) but does that really mean that I have to pay £500 a month for my debts to only be wiped by £100 a month. i just find this really unfair.

winner12

Hi there
Can you pay the monthly payment because a snowball calculation could be the answer with this you pay the minimum on the lower interest rate cards and hit the high interest with as much spare cash as possible reducing the balance each month you can refuse a interest rate hike too I think but there are loads of lovely helpful people on here to advise you further