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Considering DMP - SOA advice please
Comments
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I phoned Barclaycard asking to close the account and saying I would make the min payments following this, at least.
To my surprise I was offered a new rate of 6.9% for 2 years.
Down from 15.9%. It is my biggest balance so I have cut it up as new purchases are on the old rate.0 -
That's brilliant news. Always worth a call.
Not giving up
Working hard to pay off my debt
Time to take back control
https://forums.moneysavingexpert.com/discussion/6290156/crazy-cat-lady-chapter-5-trying-to-recover-from-the-pandemic/p1?new=10 -
Thanks crazy cat lady. Wasn't expecting them to say that at all!
It really helps having these extra little incentives to repay the debt.
Hopefully in a couple of months another offer will come through..Noddle isn't showing too much hope for now but I think it should get better soon.0 -
Hi Alice
Great news! Amazing the deals you can get when CC companies start to think you might actually stop paying them extortionate amounts of interest.
LDg0 -
Thanks LDG.
Also Halifax hiked my credit card rate a few months ago. I chose the option to close the account so that I could keep the same interest rate as before. The person I spoke to on the phone sounded surprised when I told them this and I could tell by the tone of his voice that he was wondering what to do. They know we are desperate, but they just don't know that we aren't quite as desperate as they think. 0 -
I think changing your mindset really gets things moving.
I have some extra work next week - a one-off market research panel in the evening - £60 for two hours. May be a few others in the future!
I've worked out that (between different things my income will be increased (once only) by £850 this month! I have to spend some of that as it is partly an insurance claim for a repair but will be able to throw some at the debt too. Some of it is savings that I have access to from a credit union, as I have hit the threshold which allows me to withdraw some savings. All gaining momentum now!0 -
Glad to hear things are looking up! Once you get a few things paid down you'll really be able to be able to clobber the rest. Keep going Alice!CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 0420
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Thanks Verbatim. I think so, just need to start feeling that I am getting on top of it and then keep the momentum going. Hopefully it will get easier over time!0
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You ARE getting on top of it! Go you LIVE SIMPLY * GIVE MORE * EXPECT LESS * BE THANKFUL0
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Whoa! Alice, what amazing progress! An extra £850 is cool! What are you going to pay off with it?* * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
Barclaycard -£5,867.52;
mbna1 - 3,009.22
mbna2 - 1,755.70
Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.040
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