Good credit score, pay on time and can't get a loan
in Debt-free wannabe
6 replies 471 views
I've struggled with depression for many years and I'm ashamed to say that I spent money to deal with it. The thought of having something new in my life was a fix enough to keep my spirits up. I didn't want to admit the consequences. I have totalled today that I have a balance of £10k over 3 credit cards. I'm a homeowner and my partner has poor credit so I've also had to finance our car and a £24k loan in my name (which we pay jointly for both). TO BE HONEST those re-payments aren't the issue as we don't have long left on them. I pay my credit cards on time, every time. I make sure any money I owe comes out first. The issue is, I'm deeply unhappy because I'm left with so little. I pay min payments and can't afford to pay any more. So I'm barely denting what I owe. I don't want to go bankrupt as this will affect my job I fear which will just make things worse. And I'm getting turned down for lower interest personal loans which I'd hoped would help me put a dent in what I owe. I just don't know what to do. Is it because I have too much credit out already that I'm not eligible for a £10k loan to consolidate? I just want to get on top of the credit cards and feel that the only way to do this is lower interest? Other balance transfer credit cards won't go up as much as £10k and I was hoping I could get on top of the worst one first which is at £7k of that. Any advice would be much appreciated. I'm so tired of treading water.
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