Advice needed

syicf

Hi,
Really in need of some advice regarding my credit cards.
I have nearly £7k debt, over three CC (all maxed)

Im now in part time employment on minimum wage and can just (only just) afford to make the minimum payments. At this rate, ill never get them paid (with all the interest) and its really getting me down.

I am thinking of getting a loan to to pay off the CC (and cancel them), then at least ill have jusy one repayment over 5 years and this wont affect my credit score (very important to me).
The problem is because im on such a low wage and hours, I very much doubt anyone would consider me for a loan.
What other options do I have to clear these debts without affecting my credit score?

Any advice would be great
Si

Drp8713

Have you tried applying for a 0% balance transfer card? That way there won't be any interest for a few years if you get one of the better ones. That's assuming you are all up to date with payments so far?

The best way is to reduce your spending as much as you can and up the payments above the minimum.

eskbanker

To get £7K onto a 0% BT card would mean having access to about £15K of credit for a short period of time, so is unlikely to be an option with part time minimum wage employment, although no harm in trying the MSE eligibility checker at https://creditcards.moneysavingexpert.com/?balance-transfer to test the water.

Realistically though, you need to get to grips with the fundamental debt issue, so it would be worth checking out the advice at the debt-free wannabe board at http://forums.moneysavingexpert.com/forumdisplay.php?f=76

syicf

Thanks for the replies.
I would have no chance of getting a 0% unfortunately. I couldn't get one when I was in full time employment
Really don't want to be stuck with this forever. With the interest on the cards, it looks that way

jonesMUFCforever

If you don't earn enough to pay back what you owe approach it from a different angle - sell some stuff or cut your outgoings.