£55k credit card debt-seeking advice

Ergates

kmswing wrote: »

Using the eligibility checker on this site nobody is willing to lend to me currently. I am conscious that this is a credit card search and of course I’m unlikely to be eligible with my current borrowing situation. Is there another type of loan I might be able to get?

There are debt management charities (and probably companies) that you can talk to that won't have any impact on your credit history.

Don't just look at cards - they're not really designed for long-term borrowing, which is why the rates are so high. If you could get a "normal" loan (either unsecured, or secured on some property) for even some of your CC debt, it would make a significant dent in the amount of interest you are paying.

As it stands, with more than 1/2 your monthly payments going on interest, you currently fit the definition of persistent debt. When this has been going on for 18 months (from whenever it started) your bank are legally obliged to get in touch with you about it.

Penelopa.Pitstop

Is none of the cards offering some promotional transfer rates or one with lower APR? MBNA and Barclays tend to offer constant promotions.

Also, it's probably too late, but you could have refused APR increase by asking to keep it the same and stop the card for future spending. If any of the other companies try to do this, just make sure you use this option. It doesn't have negative effect on credit history.

Nullboris

You really should speak to aomeone .. does your sport have a players assoc? fear of embarrassment can be your worst enemy. Admitting to your Friends and collegaues that you can no longer afford the lifestyle you once had is going to be your biggest step . JUst DO it. Any embarassment is temporary but financial fear can lead to depression anxiety etc. Money can always be replaced, your life can't.

Gycraig

55k debt "sell your phone and cut your package" I'm sure 50 quid a month will massively help.....

jonesMUFCforever

Before this thread goes to page 2/3/4 please note the OP has not been back since his original post!

Troll alert!!

Terry_Towelling

jonesMUFCforever wrote: »

Before this thread goes to page 2/3/4 please note the OP has not been back since his original post!

Troll alert!!

I suppose it is possible they could be reading the posts without signing in but, I'm with you on this one - why would you rack up £55K in travel/hotel costs if you were injured and not able to compete?

To be honest, these troll posts bring a bit of life to the forum - keep 'em coming.

Willing2Learn

I also wonder if this is a troll

Anyhow, money problems can hit anyone, including professional sportspersons. I used to be a housing worker at a day centre, and we had an ex-professional footballer registering for assistance as he had become homeless.

sourcrates

Willing2Learn wrote: »

I also wonder if this is a troll

Anyhow, money problems can hit anyone, including professional sportspersons. I used to be a housing worker at a day centre, and we had an ex-professional footballer registering for assistance as he had become homeless.

I would have thought a "professional sportsperson" would have an accountant to deal with matters such as this ?

Sncjw

You do realise lenders will be assessing you on double your debt as there’s no garuntee you will use money to pay off the debt.

Do you not have a sponsorship deal if your a professional sports person.