Discharged bankrupt, one debt, high APR

Alibalibee

Hi

I'd love some help and advice from anyone who can help.

I'm a discharged bankrupt (December 2011), but managed to build up a debt (I know!! :eek:) of around £950 with Marisota clothes catalogue. The APR is "Representative 39.9% APR (variable)". In practice, I can pay them £50 a month and the balance reduces by only about £25.

Ideally I'd like an interest free loan (wouldn't we all?!) but, as a discharged bankrupt, I can't take advantage of any 0% interest credit cards.

Any advice anyone?

Thanks.

Alison

rising_from_the_ashes

Pop up a Statement of Affairs and see if there's areas that could be cut back to pay it off quicker.

Alibalibee

Thanks but I've already worked out how I can do that. It's trying to get rid of the massive interest that I'm interested in.

Millionaire

You have only recently been discharged and the Bankruptcy is going to be on your file for another 4 1/2 years.

You won't get market leading rates. Only way is to reduce costs.

You could keep an eye out on this card.

They have some 0% balance transfer offers on it from time to time

http://www.capitalone.co.uk/creditcards/classic-credit-card.jsf

Alibalibee

Millionaire wrote: »

You could keep an eye out on this card.

They have some 0% balance transfer offers on it from time to time

http://www.capitalone.co.uk/creditcards/classic-credit-card.jsf

Thanks for that, that's useful to know.