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Debt advice
anolan
Posts: 12 Forumite
Hello.....and help !
We have maxed out on several credit cards as we have been saddled with a load of debt from my brother in law over the past 5 years. We have until now been very good at meeting all regular monthly commitments but are now at the point where we are beginning to struggle month by month and have one credit card that is overdue by 1 to 2 months. This will now begin to affect my otherwise good credit record. If only we could shift debts to cheaper or zero credit rates. I am always getting declined now due to my link to my wife who has all the bad debt. Any suggestions ?
We have maxed out on several credit cards as we have been saddled with a load of debt from my brother in law over the past 5 years. We have until now been very good at meeting all regular monthly commitments but are now at the point where we are beginning to struggle month by month and have one credit card that is overdue by 1 to 2 months. This will now begin to affect my otherwise good credit record. If only we could shift debts to cheaper or zero credit rates. I am always getting declined now due to my link to my wife who has all the bad debt. Any suggestions ?
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Comments
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If you post your SOA people wioll be able to see what the ingoings/eoutgoings you ahve are and make money saving suggestions there. Also within the SOA you will post the size of the debts with each creditor in a bit more detail enabling people to advise what to do with each card/loan etc.YNWA
Target: Mortgage free by 58.0 -
As each application for credit will show up stop applying for at least 3 months as you'll appear desperate. If you have a lot of debt and are already missing payments you will be unlikely to be offered any more.
The best advice is to post up an income and outgoings statement and ask for help in reducing the cost of things to allow you to get back on track. If then it seems that you can't make ends meet you could ask one of the free debt charities CCCs, payplan or CAB to help and consider a debt management plan, IVA or bankruptcy.
Can't find the link for "make sense of cards"CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 0420
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