Advice needed about CC options please

Porl

Hi

I am going to the end of 0% balance transfer on my CC (Dec 2013) and I still thousands of the statement. Realistically I could probably get the outstanding balance to £12000.

I would like to know what are my options now?
Could I transfer this amount to another 0% balance transfer card?
I am concerned since my salary has dropped by nearly 10K since taking the original balance transfer out and I am not sure whether I would be able to get that amount of credit again.

On the positive - it is my only debt having cleared my other CC and personal loan!! (Yes things were a mess!!) But there is light at the end of the tunnel especially if I can sort this out. I am still making my payments and I am currently paying slightly over the minimum monthly amount. I can continue to do this as well.

Would my lender be willing to negotiate a lower rate of borrowing while I clear it does anyone know?
Should I try to get a loan to clear the debt?
Apply for another 0% balance transfer CC?

Any advice would be great, or if people have been in similar situations and sorted it out even better.

Thanks

Paul

Tixy

You say you have cleared your other credit card - is that account still open? who is it with and what limit?
It might be worth seeing if that card provider will offer you an promo deal on that card, either 0% or low life of balance.

What APR does this card go to after Dec?

If you try applying for another card and get a lower limit you could at least move some of the debt across to a new deal.

Existing lender is unlikely to consider reducing down below the standard APR on the card. Could be worth asking if you run out of other options.

Porl

Thanks for comments. Unfortunately the cleared CC limit is only 3k so not enough to transfer over.

I think the option to transfer some of the balance over is probably the best but it would be interesting to see what others think.

Thanks again

Tixy

How much are you able to clear off the balance each month? how long do you expect it to take to clear the card in full?

The answer to that will impact on what the best option for you may be.
If you were able to get a new 0% card with a low transfer fee and long 0% period then that would be a good option.

If not then you will need to consider what options you are able to take.
e.g. you might also not be able to get a loan, or it might not be at an APR better than your current card standard APR.