In which order should I clear CC

TakingControl

Hello

I have been in a DMP for over a year now and due to a family member have been given a lump sum to try and do F&F with at least my 2 biggest creditors. MBNA have accepted however Capital One haven't, they haven't even given me a counter offer.

So after paying MBNA I still have £6000 of the lump sum and would like to pay a chunck of one card which will allow me to stop the DMP and start paying back under my normal agreement which I can afford. The debts are -

BarclayCard - £3199 balance, current interest rate 6.9%
Capital One - £8948 - interest frozen
RBS - £5277 - interest at 19%

I know if I cancel the DMP I will pay normal interest rates again and for BarclayCard this would be 24.9% and Capital One would be 18.9%

BarclayCard and RBS have not defaulted me at all and my account at Experian is marked as 'Satisfactory' and only shows a few late payments (pre-DMP) and arrangement to pay as a special instruction. Capital One have defaulted me straight away.

Now the question is, do I pay a chunck on the Capital One card and use the other 2 card accounts to try and clean up my file (not using the card, just the repayment history) or do I pay off the BarclayCard and a chunck on the CapitalOne card?

Thanks for anyone who could advise.

[Deleted User]

To save most in the long run, you would be better of paying the most towards the one that's costing (or will be costing) you the most. (BarclayCard)

Would it be worthwhile re-writting to Capitol One again with another offer? (maybe others on here have had experience with F&F with C.One - hopefully they can shed some light on this)

Have you considered offering F&F to RBS or Barclaycard? (Or have you decided not to do this because they've not defaulted you?)

TakingControl

Thanks for your reply. :T I didn't offer it to them as they haven't defaulted me and a marker of a few late payments and arrangement to pay for 12 months is better than a default.

Capital One wrote back stating that the offer has been rejected as its outside their criteria. I don't think they mean my offer was too low (I offered 60%) but since in the DMP I have never missed a payment and was able to up my payment this year so I guess they are holding on for getting the full amount.