anything else he can do?

rose11

My boyfriend has two credit cards, capital one with £2,483.32 to pay off and vanquis with £1,133.11 to pay off. Because of different reasons hes not been able to pay much off so of course its been getting worse. He's got a new job now earning abit more money, so i starting to pay off at least double what he was. But he wants to make sure theres also money in the bank to live off, he also needs some each week for work. Is there anything he can do to get rid of them any quicker, I keep reading things on here for ideas, but I'm finding it hard to sort out. He works away most of the week so doesn't have much time to sort anything out which makes things worse.

MPH80

If someone will accept him - he should get a 0% balance transfer card but continue making the same level of payments to that new card.

If he's at the upper limits of his budget and he can't get the 0% then he's got two options:

Earn more or spend less.

If he's got spare cash he should investigate snowballing.

grumbler

It doesn't necessarily have to be 0%. Both C1 and Vanquis are notorious for sky-high interest rates, so any card is likely to be better, especially one of low Life of Balance interest rate cards.

Also, a loan is worth considering.

inmypocketnottheirs

grumbler wrote: »

It doesn't necessarily have to be 0%. Both C1 and Vanquis are notorious for sky-high interest rates, so any card is likely to be better, especially one of low Life of Balance interest rate cards.

Also, a loan is worth considering.

Either balance transfers, or a loan will only be of any benefit if these cards are cut and accounts closed.

chattychappy

rose11 wrote: »

He works away most of the week so doesn't have much time to sort anything out which makes things worse.

Don't want to sound harsh, but he must make time to properly engage with his situation. He's lucky to have you to help.

rose11 wrote: »

He's got a new job now earning abit more money, so i starting to pay off at least double what he was.

Just to be clear, by "i" you mean you are making the payments but with his money?

Fruit_and_Nut_Case

chattychappy wrote: »

Just to be clear, by "i" you mean you are making the payments but with his money?

I thought that might be a typo for is.

[Deleted User]

What are the APRs?

rose11

Thanks for all your replies :beer:.. I've told him everything you said, and hoping he will use alot of the information.. ....chattychappy, it was supposed to be is not I, it's my typing lol.

vassa

Transfer to 0% if possible, but tell them his circumstances have changed and he will pay what he can afford.