help about £10,000 debt

GeorgeUK

Was hoping you hadn't had anything late on lloyds.

Right, here's what i was thinking (and this is just top of the head ideas for now) - if Lloyds get paid off, you will still have £5820 to pay. Sometimes banks will contact you and let you know that you can get 0% BT offers for about 6 months (with an existing account). If you keep the Lloyds card and DO NOT EVER SPEND on it, it may be possible to transfer the Barclaycard and Halifax balances to 0%. Then it's kinda rinse and repeat. After not using the Halifax or Barclays cards, look at the documents they are sending you or contact them to enquire if they can offer you a 0% BT to your empty card. If they say no, threaten to close your account - it's not much use to you and some banks do then make you an offer. Most of this was before the big credit crunch that's under way, but with the Lloyds account cleared and hopefully being able to transfer funds @ 0% you should hopefully be able to manage repayments of more than the minimum of £180pm (with approx £180 cost for the BT).

If they say they won't allow you a 0% deal, just hang up and a few days later, contact them about closing your account - if they ask why - because you have other CCards. Hopefully an offer will then follow.

As you can see from my ramblings it could get a little complicated at first, but if the balance is continually decreasing because you are making the same payments but not getting interest added, the debts should become more managable over time.

That is why it is best if you post up a full SOA. We'll be able to see exactly what you have coming in, what you are spending and if there are any savings to be made. Can you get a part-time job or are the kids too young?

We'll keep trying to help, but if you could get those details to us we'll have a better idea of where things stand. The main reason you may not be able to get a new CCard is because you have virtually no income, but hopefully that juggling of the accounts will be possible and you won't need one.

Ask as many questions as you want.
There's plenty of brains to pick around here.

George