Excessive credit card interest - advice

floribunda_2

Hello,

My partner has a lot of credit cards (nearly £40,000 worth) and is currently paying for e.g. around £200 per month per card but only clearing around £20 in total off all his card balances because the interest rates are so high (he also has missed payments on them and so gets charged for letters etc). We've tried to get loans, an addition on our mortgage, lower interest rate cards but we're both unable to get anything due to bad credit. Is there anything else we can do as the debt is the same amount now as it was more than 5 years ago and nothing has been spent on these cards (except for the additional charges/late fees) and I really would like to get out of this loop.

Thanks

marksandsparksgal

I'd speak to one of the debt charities first, also check out the debt free wannabe board, as they deal with these circumstances all the time, and will be much better placed to advise you.