High interest rates

little_lizzy

Hi All

just wondering if any one out there can help?

Have a Littlewoods credit card being charged at 29.9%. Up to credit limit £3000. Is it legal for them to charge people different rates of interest? Also can anyone reccommend best way to consolidate exsisting credit. I dont think my credit scorings that great.

I big thanks for any help

Cheers Lizzy

james32_uk

Totally legal I'm afraid. Unfortunately these people will charge more interest on the people who can least afford to pay, as these loans offer the most risk.

You can try to get a card at a better rate but dont try loads of cards or it will affect your credit score even more.

I suggest you try as hard as you can to pay more than the minimum payment each month as that will decrease the length of the debt by years.

Have you got anything you can sell to give yourself the best possible start?

Good luck!

little_lizzy

Thank very much for your advice much appreciated
lizzy

little_lizzy

james23_uk wrote: »

Totally legal I'm afraid. Unfortunately these people will charge more interest on the people who can least afford to pay, as these loans offer the most risk.

You can try to get a card at a better rate but dont try loads of cards or it will affect your credit score even more.

I suggest you try as hard as you can to pay more than the minimum payment each month as that will decrease the length of the debt by years.

Have you got anything you can sell to give yourself the best possible start?

Good luck!

Whats the IVA plan?

james32_uk

Only for people with lots of debt who are trying to get themselves back on track. Not one for anyone with less than 20-25k.

trying-very-trying

I don't think you will find anyone on this site who would recommend a consolidation loan. You don't say how much your total debt is, but you might want to post your statement of affairs up here, or even just visit CCCS, wher you will find a debt calcultaor and a debt remedy plan