Credit Card Debt

AnnabellaVisachie

I have unfortunately got myself into nearly £10,000 worth of credit card debt. Started off interest free now thats run out and im paying interest. Monthly minimum payments are nearly £300. I am also paying off a £6000 loan. My credit is rated as fair/good on Clearscore however when i have tried to either get a debt consolidation loan, or a transfer card of 0% i am not accepted. How can i get out of this debt without being accepted for any options to help me?! 

Any advice would be appreciated. 

TadleyBaggie

Recommend you head over to the "Debt Free Wannabe" section. You cannot borrow yourself out of debt.

CliveOfIndia

As above, consolidation loans are very rarely a good idea anyway.  And as you've found out, they can be difficult to get.  Since a lender cannot force you to use the loan to pay off the cards, they have to assume that the loan will be as well as - not instead of - the credit card debt.  Hence, you often fail the affordability checks.

Head on over to the Debt-free Wannabe board, fill out an SOA and you'll get plenty of impartial help.

Brie

I've moved this to the debtfree board as more appropriate for this discussion.  

I agree with what Clive has said about consolidation loans and also filling out a statement of accounts (see my signature below for a link) as that way people can help you sort out your budget and hopefully help you find a solution to the debts.