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Should I transfer?
Cosmo8
Posts: 7 Forumite
in Credit cards
Hi,
Need some advise really. I have an MBNA card where I owe £6000, am not making any progress at all in paying this off, I pay roughly £200 a month off on it but this just seems to pay off the interest and the stupid payment protection that I took out. Last month was an example where I was charged £121 interest and then £40 for PP. I can't see light at the end of the tunnel on it and would like some advise as to what to do. I am trying to pay off other debts at the moment so do already have a couple of loans so am not sure if I applied for another loan to pay this card off if that would be a good thing (if I am even accepted that is!) or if I should see if there is any other company out there that would be willing to accept this transfer where I paid less interest so that at least when I am paying I'm paying something off the debt rather than just interest.
Any advice would be great.
Many Thanks:mad:
Need some advise really. I have an MBNA card where I owe £6000, am not making any progress at all in paying this off, I pay roughly £200 a month off on it but this just seems to pay off the interest and the stupid payment protection that I took out. Last month was an example where I was charged £121 interest and then £40 for PP. I can't see light at the end of the tunnel on it and would like some advise as to what to do. I am trying to pay off other debts at the moment so do already have a couple of loans so am not sure if I applied for another loan to pay this card off if that would be a good thing (if I am even accepted that is!) or if I should see if there is any other company out there that would be willing to accept this transfer where I paid less interest so that at least when I am paying I'm paying something off the debt rather than just interest.
Any advice would be great.
Many Thanks:mad:
0
Comments
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If you feel comfortable doing so, then cancel the PPI, unless your job is at risk and you might need to call on it.0
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