Credit cards help needed.... 19k approx debt

MunnyMan

OK my situation

£8800..Virgin Money CC............... 0% ends in April
£10700.. Goldfish Barclaycard........... 0% ends in March


I have been on the fone to both of these cards today to find out exactly when my promotional rates expire, once they do end i will be paying

VIrgin Money......1% of the balance plus interest
Godlfish ......... 15%

Obviously i do not wanna end up with huge spiralling interest costs and probably couldnt afford both minimun payments each month anyway as i figure this will be somewhere in the region of £400.00

SOoooooooooooooo people do i opt to own up to these companies that i cannot pay and try and get reduced terms on my payments or just default?

any advice appreciated

PS...i dont give a hoot about credit rating to be honest at this moment in time i NEVER want any more credit!!!!!! :mad:

MunnyMan

bump........??

DebtFreedom_2

Hi there

I didn't want to go without leaving something. Not much useful stuff from me, but you're not comparing like with like. Are you writing about the repayments, or interest? The Goldfish rate, if it is interest has to be annual (which would work out at c 1% per month). Ask them both what would a typical repayment be on with your balances once the promotional period ends.

Hope you get on alright, and take care.