big debt problems on my credit cards

pk1971

hello all
a long story short i have got myself in big debt with 4 credit cards
barclays 6k
virgin 7k
rbs 5k
halifax 8k
i have over the years tired to switch these around to best balance transfer deals at the time but now cant get accepted for anymore!
dont expect any sympathy as its my dealt over a period of years that we as a family could not keep on top off, iam making all the min payments but a killer now all the 0% has stopped on all the cards

we have just moved house, iam still on the elec roll at my old address hope its not a daft question to ask but could this be my problem?

hope someone can point me or advise me in the right direction

thanks and merry christmas
paul

Tixy

Hi paul

Whilst not being on the electoral roll at your new house certainly won't be helping it might also be that you have reached the maximum amount of credit you are likely to get in the current climate.
At 26k of unsecured debt you'd need to be a high earner to be able to get more credit at the moment. Typically lenders don't seem willing to give unsecured credit above 50% of your salary at the moment. Obviously this might not be the situation you are in, but it a problem lots of new posters are facing.
If that was the case then just changing your electoral details won't make a difference.

You might find it worth posting on the debt free wannabe section of the forum. If you post up a statement of affairs (SoA) people might be able to suggest money savings you can make so you can pay more than the minimum payments each month, so you can start knocking the debt down (which in turn might mean you can get more 0% deals etc in the future).