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Advice on repaying CC debts
jlo
Posts: 61 Forumite
Hello!
I have approx 6000 pounds of cc debt spread over five cards.
I earn approx 1500 a month, however I'm going on unpaid maternity leave next month so won't be working again until Feb 2012 at the earliest.
I have ignored my debt for years, only making minimum payments, even though I know this is wrong and expensive, but to be honest I haven't been able to face up to my mistake. I'm horrified that I owe so much.
I am looking for some advice on how I should go about clearing these debts. The highest balance is on an amex card - 2270.58, and I pay about 30 a month interest on this debt. This card has a credit limit of 7000 and an offer of 0% interest on balance transfers until Oct 12 - should I transfer my other balances here (there's a 3% fee) and then focus on repaying in large chunks? My outgoings are minimal as I'm married and we can live on my husband's salary. I hope to be earning again in Feb next year, so could begin repayments then.
TIA for any advice
I have approx 6000 pounds of cc debt spread over five cards.
I earn approx 1500 a month, however I'm going on unpaid maternity leave next month so won't be working again until Feb 2012 at the earliest.
I have ignored my debt for years, only making minimum payments, even though I know this is wrong and expensive, but to be honest I haven't been able to face up to my mistake. I'm horrified that I owe so much.
I am looking for some advice on how I should go about clearing these debts. The highest balance is on an amex card - 2270.58, and I pay about 30 a month interest on this debt. This card has a credit limit of 7000 and an offer of 0% interest on balance transfers until Oct 12 - should I transfer my other balances here (there's a 3% fee) and then focus on repaying in large chunks? My outgoings are minimal as I'm married and we can live on my husband's salary. I hope to be earning again in Feb next year, so could begin repayments then.
TIA for any advice
0
Comments
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I'd definately get as much debt as ossible on 0%.Try to be a rainbow in someone's cloud.0
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