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Help please. Next debt
ElisesMummy
Posts: 302 Forumite
Morning all.
To get straight to the point, I owe next around £1000, and pay £100 every month. We've had a horrible year since my Husband was made redundant but muddled along, however i'm now really struggling to keep up with the payments on this (and Argos card £350) The APR on both of these accounts I believe is 29.9%. I have no other debts or credit cards.
I was wondering if I could get an interest free credit card and put the amount onto that instead? And then make the monthly payment off the credit card instead of to Next/Argos.
I was told due to not having much credit on my report it can look bad, as does the age of the debt (Next 6 years)
I have also seen credit cards where after the 0% period the APR is 18.9% so surely this would be a better way to deal with the debt than struggling with the Next 29.9% rates.
I am currently unemployed, so would I even be given the credit card?
Thanks very much in advance for your help
To get straight to the point, I owe next around £1000, and pay £100 every month. We've had a horrible year since my Husband was made redundant but muddled along, however i'm now really struggling to keep up with the payments on this (and Argos card £350) The APR on both of these accounts I believe is 29.9%. I have no other debts or credit cards.
I was wondering if I could get an interest free credit card and put the amount onto that instead? And then make the monthly payment off the credit card instead of to Next/Argos.
I was told due to not having much credit on my report it can look bad, as does the age of the debt (Next 6 years)
I have also seen credit cards where after the 0% period the APR is 18.9% so surely this would be a better way to deal with the debt than struggling with the Next 29.9% rates.
I am currently unemployed, so would I even be given the credit card?
Thanks very much in advance for your help
0
Comments
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£1,350 isn't a huge amount of debt, so, depending on your earnings and outgoings, it may be possible to get a 0% card to make a BT.
However, it will depend a lot on your Credit Rating, which will be dependant on your payment history on your current debts.
Have you defaulted/missed payments, on either/both of them?0
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