Damsel in distress

meganlevy Forumite Posts: 3
First Post
edited 31 July at 4:41PM in Debt-free wannabe

I got myself in to debt on 3 different credit cards and I don’t even know where to start to try get out of it.  I’ve heard of debt consolidation however I have no idea how you even apply for a loan let alone transfer money from credit cards on to one. I just have no idea how any of this works but I want to make a start paying off my debt. 

1 credit card has £450 charging me £9 each month in interest. Minimum payment £44.

Another has £2,300 charging me £50 each month in interest. Minimum payment 100.

Another has £1400 which interest hasn’t started yet. Minimum payment £20.

I am making minimum payments and I know I should be paying more but when I’m being charged £50 interest each month I just think I’m just paying off the interest here and I want to start paying off my debt. I just feel like I’m not getting anywhere and I’m creating more debt. 

Can someone please advice me on what they think I should do 


  • p00hsticks
    p00hsticks Forumite Posts: 12,324
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hi, and welcome to the forum.

    I'm going to ask that this post be moved over to the 'Debt-free Wannabe' board as I think that it's more suited to your query.

    The people over there are full of helpful and non-judgemental advice on the best way to cut down your outgoings and reduce your debt, especially if you post up a Statement of Affairs (instructions over there) . 
    Debt-free wannabe — MoneySavingExpert Forum
  • MSE_ForumTeam5
    MSE_ForumTeam5 Community Admin Posts: 772
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Community Admin
    We've moved the thread as suggested
    Official MSE Forum Team memberPlease use the 'report' button to alert us to problem posts, or email [email protected]
  • RAS
    RAS Forumite Posts: 31,923
    Part of the Furniture 10,000 Posts Name Dropper
    Duplicate thread.
    The person who has not made a mistake, has made nothing
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 338.7K Banking & Borrowing
  • 248.6K Reduce Debt & Boost Income
  • 447.5K Spending & Discounts
  • 230.6K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 171K Life & Family
  • 243.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards