Sooo much debt again argghhhhh!!!!

nuggett100

Hi Dancingfairy

My husband is on the mortgage aswell, it is a 3 way mortgage. So we do own so of the house although my parents put the majority of the money into it from the sale of their previous home. We have 14 years left on the mortgage but we do not want to live with my parents forever!! We are 30 yrs old so really we should be out on our own by now. We have tried to pursuade them to sell up but they dont want to as they will loose quite a bit of equity in the house what with the reccession and everything. Our mortgage is due for renewal in June and we have said that we want to move so to take my husband off the mortgage but apparently it isnt as easy as that???? We are stuck between a rock and a hard place really. If we didnt have so much debt then we could probably move no worries. I doubt we would get a mortgage now to be honest.

The credit card with just £34 on is a really high interest rate capital one card that i only put on when its really bad. I will pay that off this month and i wont touch that card unless i have too. How do i negotiate 0% rate then on existing cards?

Thanks.

nuggett100

Hi Marine_life

If we could we would but as out mortgage is a 3 way mortgage there is no way my parents would let us remortgage and pile all of our debt onto them aswell. Unfortunately that isnt an option at the moment.

Thanks.

bargainbetty

nuggett100 wrote: »

The credit card with just £34 on is a really high interest rate capital one card that i only put on when its really bad. I will pay that off this month and i wont touch that card unless i have too. How do i negotiate 0% rate then on existing cards?

Thanks.

Contact Capital One and ask about balance transfer deals - 0% or low-life-of-balance. If you can get a deal that will let you clear another card onto a lower interest rate (remember you'll have to pay a fee, so check it's worthwhile) then you will reduce your interest payments and clear your debt that much faster.

Remember, if you clear a card onto a LLB with Capital One, you then have another empty card to find a transfer deal onto. You could end up with all your CC/store card debts at lower rates.

Good luck

too_much_debt

nuggett100 wrote: »

Hi Dancingfairy
The credit card with just £34 on is a really high interest rate capital one card that i only put on when its really bad. I will pay that off this month and i wont touch that card unless i have too. How do i negotiate 0% rate then on existing cards?

I have a Capital One credit card, the limit was only £1200 and I was going to close it as I had nothing on there but I rang up first to see if they had any balance transfer offers and they said they had 0% for 15 months so I transferred as much as I could (1,067) from another card, was glad I asked and didn't just close it down.

Worth calling them and asking.