Desperate need of help!

sarahwalsh72

Hi all, this is my first post on here.
So essentially, I have a Barclaycard where my balance is £3660ish. I am paying £100 per month off it but then getting charges £91 in interest. Meaning I'm making a monthly dent of around £9. I cannot get a balance transfer credit card as I am not eligible due to my credit rating. I feel like this is never going to resolve. 
Any advice would be amazing. 
Thanks

MallyGirl

Really the only option is to free up more money by making savings elsewhere and then throw every penny at this card till it is cleared. Maybe take a trip to the Debt Free Wannabe board for more suggestions/inspiration

SweetPotatoPie

I know you say you have a bad credit rating but is there no way to get a loan to pay this off? The interest would be much much lower but you would obviously need to cut the credit card up x 

D3xt3r5L4b

Save up. Work more. Spend less. Sell unwanted/unneeded items. Etc. 

[Deleted User]

SweetPotatoPie said:

I know you say you have a bad credit rating but is there no way to get a loan to pay this off? The interest would be much much lower but you would obviously need to cut the credit card up x 

There's no guarantee of that at all, we don't know the persons credit conduct - the interest could end up being comparable.

born_again

sarahwalsh72 said:

Hi all, this is my first post on here.
So essentially, I have a Barclaycard where my balance is £3660ish. I am paying £100 per month off it but then getting charges £91 in interest. Meaning I'm making a monthly dent of around £9. I cannot get a balance transfer credit card as I am not eligible due to my credit rating. I feel like this is never going to resolve. 
Any advice would be amazing. 
Thanks

Have you tried applying for any, or are you just looking at the figure that the credit ref agency make up?

sleepyjones

If your credit history is bad anyway, then it might be worth just taking the hit on this one, call them and explain you're in persistent debt, they should help you out, but you will lose that card and your credit "rating" will take a hit.

DCFC79

Your credit rating is only seen by you and only you, your history is whats important.
Look at your spending, cut back so you have more to use to pay the debt off. 

Is £100 the min payment ?

Essentially you either cut your spending or increase your income.

jonesMUFCforever

OP have you played with the Barclaycard calculator on the website?
Even an extra £10 per month takes a year off before you repay the debt.
Are you still using the card? If you are this is one reason why your interest is so high (and out of sync when I put your figures in the calculator).
Stop using the card and concentrate on getting the debt down.