£7126 Barclaycard debt

Sonia0803

Halp :eek: I am £7127 in barclaycard debt, I have spoken to them and asked if I was to get a loan what would my fee then be hoping that they would give me a cheaper amount but I have been told I will need to pay £7254 due to the interest rates. I am gettting to my wits end really getting annoyed about it I need to get rid of this debt.
I have had to cut my work hours down due to being diagnosed with MS so feel that I am earning £150 less per month.
At moment I am paying barclaycard back £200 per month minimum payment is £163.
Can anyone give me some helpful advice please.:(

ellesbellesxxx

hi there.
First of all, don't panic - well done for dealing with this. What is the Apr on this?

Sonia0803

APR is now 29.9% it is freaking me out when I type that amount

Rebob

One place to go for help and advice would be your local credit union. They aim to get people out of expensive debts and give lots of fee help.

fatbelly

If your credit rating is OK, and you can continue to make minimum payments, go for a 0% balance transfer. Although there will be a transfer fee, for maybe 16 months after that everything you pay reduces your balance

http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards

ellesbellesxxx

Exactly! Balance transfer what you can... then make minimum payments there and throw everything else at debt!

Sonia0803

cheers guys I did ask and apply for the new Barclay card for 0% over 17months but they rejected meas did virgin and various other cards, I dont think I have a good rating although I have never missed a payment.
I have just been onto Martin Lewis page for debt and it has suggested instead of paying my £200 permonth which would take 42 years to clear :eek:!! £214.72 and it will take just 5 years to clear. I wonder if I pay just over ie £220 that it would be less than 5 years !!
These companies really do know how to take us all over the barrell.
Thanks for all your inputs advice people it has given me strength to get on with paying it and get rid of it once and for all.I really should of registerd and came on her few years back and got Martin / all your advice I may not be in this state now:o.
Thanks again people xxxx:)

fatbelly

Sonia - it's worth looking into why you are being rejected for credit even though you have never missed a payment.

Martin has a guide here

http://www.moneysavingexpert.com/loans/credit-rating-credit-score#checker

You must be able to do better than 29.9% apr!