13.5k credit card debt = stress

Dizzymoo78

I stupidly let my credit cards spiral and I am now so stressed and angry at myself as I don’t have much spare money .. I’m looking for advice on the quickest and easiest way to get them paid off.

RAS

Start by completing a Statement of Affairs aka SOA. This needs to include all your income and expenditure. For things like holidays or visiting family, insurance, festivities, total over 12 months and make an allowance of 1/12th of the sum.

For your debts, please include APRs, value and minimum payments. For loans and any transfer deals, indicate the end date and reversion rate for transfer deals.

If you have any low rate cards, what is the maximum limit?

Mark_d

To pay off your debts fastest you need to cut your spending to the bare minimum.  So that means doing without luxuries such as Netflix, Amazon Prime, eating out.  Maybe you can downgrade your broadband and mobile packages.  Instead of the odd Costa coffee, maybe treat yourself to the occasional Nespresso coffee at home.  Try shopping at Asda rather than Waitrose.  Instead of going to a David Lloyd health club, spend you time at a 24-hour no-frills gym.  Try to choose alcohol free drinks whenever you have the option.

I have done all of these things.  It's amazing how much money you can save to put towards your debts.

easyasonetwothree

Can you apply for a Balance Transfer to a 0% card, so your repayments go towards the debt instead of interest? 

Martico

Dizzymoo78 said:

I stupidly let my credit cards spiral and I am now so stressed and angry at myself as I don’t have much spare money .. I’m looking for advice on the quickest and easiest way to get them paid off.

This thread runs through the useful first steps to take, and includes a link to the Statement of Affairs that RAS mentions