Where do I start?

Nola1

Nothing ever seems to go right for me at the mo. So just tried to apply for. a 0% interest credit card and it went through and offered us one but then it timed out so had to redo it and now it’s rejected us 😫😫. Any advice on what I should do with regards to the debt on the cards? Sorry to keep on but your advice is really keeping me motivated 😊

TheAble

Nola1 said:

Nothing ever seems to go right for me at the mo. So just tried to apply for. a 0% interest credit card and it went through and offered us one but then it timed out so had to redo it and now it’s rejected us 😫😫. Any advice on what I should do with regards to the debt on the cards? Sorry to keep on but your advice is really keeping me motivated 😊

Probably wouldn't stress about the cards right now. Focus your energies on the overdrafts and get the small high interest debts cleared.

enthusiasticsaver

I don't think you will get any offers at the moment considering the debt level you are at already.  You will fail affordability checks.  

The only thing you can do at the moment is focus on your spending and budget and address the debts we have already suggested.  You may get 0% deals when the debt is lower so just keep paying as much as you can to them to start bringing the overall debt down. 

EssexHebridean

Follow the steps already advised first would be my suggestion. However, allowing you mentioned having been accepted for that BT card it may be that the rejection was because the original accepted application was still “live” though if you are sure that you had reached the confirmed accepted point - if so give it a day and then you could try again. If it rejects that time though stick that idea on the back burner for a while and focus elsewhere. I agree if you do stand a chance of getting any card debt to 0% though it would be a good plan - you can then set that new card to a monthly payment £5 above the stating minimum and leave it to do it’s thing with a reminder set to nudge you to take action when the 0% period nears its end date.

What does the (free) MSE Credit Club website say about your likelihood of getting accepted for any deals? 

natlie

Hi

I am assuming the benefits you are on is Child Benefit but your partners income is over 70k per year so you need to inform HMRC as you arent eligible you will have to pay this all back in April otherwise

Your mobile phone costs and water rates really stand out even on a meter this is high do you have dripping taps that need fixing? even small leaks can massively increase your costs 

Your tv costs and life assurance costs are also very high can you review these? 

Have you considered going down the DMP route with your debts?

Nat

kimwp

natlie said:

Hi

I am assuming the benefits you are on is Child Benefit but your partners income is over 70k per year so you need to inform HMRC as you arent eligible you will have to pay this all back in April otherwise

Your mobile phone costs and water rates really stand out even on a meter this is high do you have dripping taps that need fixing? even small leaks can massively increase your costs 

Your tv costs and life assurance costs are also very high can you review these? 

Have you considered going down the DMP route with your debts?

Nat

NB, there are a number of things that happen as a result of receiving child benefit which usually make it advantageous to receive and return the money. At the last time I checked - National insurance numbers for the child, state pension contributing years accrual for the person receiving the benefits which is useful if they are on a wage below the amount that counts, possibly others.

sammyjammy

kimwp said:

natlie said:

Hi

I am assuming the benefits you are on is Child Benefit but your partners income is over 70k per year so you need to inform HMRC as you arent eligible you will have to pay this all back in April otherwise

Your mobile phone costs and water rates really stand out even on a meter this is high do you have dripping taps that need fixing? even small leaks can massively increase your costs 

Your tv costs and life assurance costs are also very high can you review these? 

Have you considered going down the DMP route with your debts?

Nat

NB, there are a number of things that happen as a result of receiving child benefit which usually make it advantageous to receive and return the money. At the last time I checked - National insurance numbers for the child, state pension contributing years accrual for the person receiving the benefits which is useful if they are on a wage below the amount that counts, possibly others.

All of those benefits can be enjoyed by said person without having the benefit paid and the annoyance of a tax return to return the paid money.

You can make a claim and opt out of getting payments if you do not want to pay the charge. You can still get the other advantages provided by Child Benefit, like National Insurance credits.
https://www.gov.uk/child-benefit/what-youll-get