Help!

Cosmo8

Hi

I currently have two credit cards, one with MBNA (£6000) and one with Abbey (£2000) I am really trying this year to pay all of debts off as also have a couple of loans. MBNA card I seem to be making no progress at all with as just paying montlhy payments seems to just cover the interest I am charged, I have just received a letter from them informing me that my APR is going to go up to 28% soon. I guess what I want to know is should I look to see if I can balance transfer and if so what is the best company to approach as I do already have quite a bit of debt?

Any advise would be great as I am rubbish at anything to do with finance but am gradually trying to get my head out from the sand!

Thanks

CLAPTON

Best to address the reasons why you are in 8k worth of debt and start reducing your spending and consider increasing your income (overtime, partttime job etc).
That way you have more money to repay your debts.

When paying debts back always use the snowball technique... that is pay the minimum on each debt except the one with the highest APR... on that one pay as much as possible until it is clear... that way you pay off the debt quickest and with the least interest.

If possible move debt to the lowest APR available; so if you can more the debt to a CC with a lower APR (taking in to account the BT fee in any ) then do so.