What To Do Next?

leannethomas

Hi All,

Ok I Think I Am Getting There Slowly! I Rang Up My Husbands Credit Card Company And Told Them We Was Thinking About Transfering Our Balance To Another Card Because I Need Cheaper Debt, And Im Not Sure How But I Didnt Realise That My Husband Had Been Paying 22% Apr On Purcheses And 23% On The Cash We Have Taken Out On It! Anyway They Have Reduced The Rate On The Purcheses To 13.9% Which Will Save A Little But Does Anyone Have Anymore Ideas On What I Can Do Next To Reduce The Rest Of The Debt We Have? I Was Thinking About Still Doing A Balance Transfer On Some Of The £14,880 That We Have Outstanding, So That It Will Be 0% To Get Our Balance Down? Any ideas welcome?

Thanks Lea

Crown

Hi, Have you thought of applying for a life of balance transfer card?

I dont know what your credit rating is like but M&S offer a card with a 4.9% LOB transfer deal. If you could get one of these cards transfer as much of the £14k debt to it and then cut the card up so you do not use it. This would save you a fair bit.

I dont know if you ahave already done so but please Post a SOA and we may be able to advice you a lot more

leannethomas

Sorry but what is an SOA?

Thanks again

nickelodeon

Its a state of affairs, see southern scousers sticky: first time posters, at the top of the thread, it gives you an example, basically it asks you to tell us about your income and outgoings and your debts and then all the lovely people on here will try and come up with suggestions to help you!