Need some advice about high interest on credit cards!

Bensuk

I have quickly accumulated a large amount of debt about £14,000 over 4 years on credit cards and a loan. I didn’t take it very seriously until it got to the point where I realised I could only make the minimum payments so I decided to take a drastic action and move back in with the parents and focus all my disposable income at the problem but then I noticed that for every £100 I paid off £60 or more went on interest!

So I shopped around for new credit cards with 0% balance transfers but I have been rejected by all so far, I got a credit score and it has me down for very poor because of the credit searches and the amount of debt I have but I have never missed a payment in my life which shows up on my credit report.

So now I’m just stuck as to what I can do, I want to pay off the debt and I’m spending so much each month trying to do so but it gets me nowhere.

Also, I have considered downgrading my car and using the excess money from this to pay off some debt but my worry is that if I was able to pay say £4000 on my credit cards for example would that mean more than half of that would be taken as interest alone and my actual debt left in tack

I'd be grateful for any advice!

Ben.

[Deleted User]

paying back £4000 would reduce the interest as you only pay interest on a monthly basis on the balance on a cc
the fact is unless you earn £40000 a year you wont get any more credit,and with a poor credit score you will only get a cc with a low limit and high apr
the plan to down size the car looks the best bet(providing its yours to sell and not on hp)