advice please

ailsasyl

Hi
I am new to this and am looking for advice about my credit card its a visa with the halifax with a credit limit of 6800 and about 70 quid short of maxing out am going o phone later as discovered im paying a huge mount for repayment protection so going to cancel it but is it worth asking them if there anything they can do to make my repaymentsmore bearable ie reeze interest? or will the just laugh all this is so scary:eek:

Bokkens

Unfortunately they will in all likelyhood do nothing,but it won't hurt to ask.
Have a look at Martin's credit card shuffle and snowballing to help move the debt to another card, move it to 0% card would be ideal or a Life of Balance card at around 6% interest per year until you have paid the debt off.
That is £60 interest for every £1000 per year,
Where as you are paying 15.9% which = £159 interest per year on every £1000.
If you can get another card at 0% the longer the 0% period the better i would suggest Virgin 0% card as they offer decent limits and you may be able to move all the debt to Virgin and then have 15 months to try and pay it off.You will save approximately £1070 in interest .
Good luck.

ailsasyl

thanks for this but as my credit ratingin bad at the moment dont think other cards woud offer me credit am in arrears with the morgage and although everything else is paid up to date was doing well had reduced from 1000 to 500 arrears but bank have failed to make payment this month my fault had not realised that council tax benefit had not been cancelled so hit with a bill for 273 which they took by direct debit have spent today trying to get lower quote for home ins and got it down from 250 to 66 with the post office but when i clicked through to buy it checked on po site and went up to 137 and couldnt pay by direct debit really frustrated and fed up now am losing will to continue

Bokkens

Get yourself over to the debt free wannabes forum and pick up some useful help there .