High interest credit cards

plopsy1

Hello

Just wondered if anyone can help me I have 2 credit cards and my husband has 3. unfortunately I have previously been personally bankrupt and he has a bad credit rating so the cards we have are a high interest rate. we both have a vanquis card among others and are finding it impossible to transfer over to any other card to pay lower interest, I have also been to my bank Santander and they will not give us a loan to consolidate the debts. We are just managing to pay by the skin of our teeth each month but are getting no where as we cannot pay more than the minimum amounts, which means the debts are not going down. We are both self employed and are unable to know how much we will bring in each month.
If any one could advise me how I could bring down the costs on this please help

Thanks

mildredalien

Hi there,

It sounds like it might be useful to post an SOA and get some advice about reducing your outgoings so you can make a bigger dent in those credit cards, as you aren't able to reduce the interest on them. If you have already been through the avenues of trying balance transfers and loan applications, it doesn't look like you will be able to bring down the costs just yet. Too many applications in a short space of time can be detrimental, so it may be worth trying again 6 months down the line if you can keep up a clean nose in the meantime!

I assume that although you won't know the specifics of your pay each month you would be able to suggest an average or 'minimum' amount to work from? Can you still make the payments even if you earn the least possible each month?

plopsy1

Thanks for that thought as much but it is worth asking you don't know unless you do