credit card advice appreciated

mrsbloomers1

Hi People

I have been using this very useful site for a while but never posted before.
Here is my problem. My wife has a poor credit record. She has been trying lately to get on top of her debts and has managed to pay a few off . She has an Egg credit card , with an outstanding balance of £7100. This is with an APR of 26.9 %. She is paying this by monthly direct debit which is currently £213 . Can anybody suggest a cheaper credit card which may accept a balance transfer or come up with any suggestions as to how to lessen the repayments and/or the final cost or timescale. She recently finished paying off a loan with her bank which had gone to their debt recovery dept. She never missed an agreed payment . She applied to her bank for a loan of £7000 , obviously at a cheaper rate , but she was refused. Any help, advice or comments much appreciated. Thanks

YorkshireBoy

She needs to order her credit reports to see what's recorded on there re the loan etc.

Could you transfer some of her debt to your own card(s)?

What's her income?

Are you financially associated? (mortgage, joint current account/loan perhaps)

BugsyBrowne

mrsbloomers1 wrote: »

Hi People

I have been using this very useful site for a while but never posted before.
Here is my problem. My wife has a poor credit record. She has been trying lately to get on top of her debts and has managed to pay a few off . She has an Egg credit card , with an outstanding balance of £7100. This is with an APR of 26.9 %. She is paying this by monthly direct debit which is currently £213 . Can anybody suggest a cheaper credit card which may accept a balance transfer or come up with any suggestions as to how to lessen the repayments and/or the final cost or timescale. She recently finished paying off a loan with her bank which had gone to their debt recovery dept. She never missed an agreed payment . She applied to her bank for a loan of £7000 , obviously at a cheaper rate , but she was refused. Any help, advice or comments much appreciated. Thanks

Unfortunately with her poor credit record as you say she will not have many options, a couple B/T 0% cards would be ideal, I wonder if your credit rating is good enough and maybe you can then transfer the debt on to your cards.

Even if you start paying £350 a month its going to take you 2 and a half years with 2k of that being interest.

Don't think I have actually helped atall