Think I have managed to cut interest

facingthefuture

I thought I was stuck paying 14-19% interest (called them all but wouldn't lower it)but have just managed to get a life of balance at 6,9% for £5k of debt, another part (3k) I can get now at 6% for 5 months.
I know it's not 0% but it is a reduction which will make a big saving.
I am so grateful to this forum (and Martin of course:money:) for helping me face up to and deal with it.

Verbatim

facingthefuture wrote: »

I thought I was stuck paying 14-19% interest (called them all but wouldn't lower it)but have just managed to get a life of balance at 6,9% for £5k of debt, another part (3k) I can get now at 6% for 5 months.
I know it's not 0% but it is a reduction which will make a big saving.
I am so grateful to this forum (and Martin of course:money:) for helping me face up to and deal with it.

Well done. that's a really good start. The interest being so much lower will really help you attack the capital bit of the debts.

have you posted a SOA yet?

Sea78

Thats great - it really will help as well - sometimes they can be more beneficial than a 0% that youo then can't get out of once they revert to a v high APR!

sea xx

facingthefuture

I have Verbatim thanks, here it is http://forums.moneysavingexpert.com/showthread.html?t=714999
(hope that works)
* runs and hides with embarrassment

facingthefuture

Yay, I have now withdrawn £89 and £83 from paypal to my bank (I only started selling friday 25th january and all fees already paid). This stuff was just lying around causing clutter, loads more to go but don't know if its worth waiting for cheap listing days...is it not just more competitive? Have bids on of about £50 on present sales.
Now I am going to get the kids to go through the mountains of toys and decide what they have grown out of. They will then go to ebay, car boot sale or a charity shop. Our home is small but packed to the brim. The attic is absolutely heaving with stuff.
I am beginning to see light at the end of the tunnel because I have worked out a target for me to earn each week and a schedule to pay things off. I reckon being realistic it will take till Nov to clear all credit cards (all being well) .
Had to do a mystery shop today to a travel agent, oooh wish I could actually go but no, will be sensible and SAVE for holidays in future!
I have learned a great lesson and this site is helping me get out of the pit.
Thanks all.

Burlesque_Babe

I called all my CC's when I was paying off my debt. Capital One and Barclaycard slashed the rates if that is an idea for anyone with those cards.

raq

keren29 wrote: »

I called all my CC's when I was paying off my debt. Capital One and Barclaycard slashed the rates if that is an idea for anyone with those cards.

I got a card with Halifax , HSBC and paypal (g.e.money) and was thinking of trying this. We have been paying all them on time and little bit more payment every month. Just the apr are scarry:mad:

anyone else had any luck with these companies.

facingthefuture

Yes halifax allowed me to take Sainsburys credit card tranfer under a 6.9 promotion even though it was part of the same group.It means I have reduce from 18.9 to 6.9 for the lifetime of the balance.I think the promotion runs to the 12th feb.Call them and ask.

raq

facingthefuture wrote: »

Yes halifax allowed me to take Sainsburys credit card tranfer under a 6.9 promotion even though it was part of the same group.It means I have reduce from 18.9 to 6.9 for the lifetime of the balance.I think the promotion runs to the 12th feb.Call them and ask.

thanks, but how does it exactly work. We have £3500.00on halifax and £2100.00 on hsbc. halifax has the highest apr. oh and £1400.00 on paypal. tried for a % card at the beginning of january but got refused.:rolleyes:

thanks

kizzykizzywizzy

As Martin says it definately works ringing your card companys I transfered a balance to LLoyds for 6 months 0% with no transfer fee, saved me applying for yet another card!!
You're doing really well facing the future, I'got something on Ebay at the moment, fingers crossed I can sell it asap as skint this week ( what's new )
Good Luck