Advice for this debt situation

avfcmatt123

Hi,

I'm wondering if anyone could advise me on the best way to tackle the below. It's by no means a dire situation and is manageable however would like to see if there was a better way I could deal with it.

I have debts which are on two credit cards totalling £8500.

I have 4 credit cards as detailed below.

Card 1- £5000 / £7800 **MIN payment £130**
Card 2- £3500 / £5500 **MIN payment £35**

---

Card 3- 0/£5500 (Balance transfers allowed)
Card 4- 0/£2200 (No balance transfers)

I have overdraft availability and try not to use them.

I am at the moment paying the minimum repayments on both cards and both are on 0% finance, so the only thing I am getting hit for is the balance transfer fees when I move them around the cards.

I have a property which we have a 50-50 share in mortgaged and so it is not possible and also I would not want to move this debt to a mortgage.

I have been declined for a consolidation loan as my salary now is low due to a career change.

My bills per month (including my household etc) are: £1,100. These include my CC repayments.

My Salary is flexible I would say on average I get £1350 per month. My career is unique whereby I get allowances ranging from £80-£200 so that tops up the salary and I get this 4 times a month.

Unfortunately, I have not been able to work for the past few months and will likely need to borrow some money to get me through the next month or so until I go back and earn my full salary.

I do have a small business on the side, which is looking positive but is not enough to supplement my income.

Has anyone got any advice?

Many thanks in advance