20K in Debt need some advice please

Smarty_3

Hi Everyone
i have been reading Debt section for 2 days now , have gathered lot of information that I didn't know. would like to thank everyone for there advice .

However I hasn't been able to get an exact answer of what I need , need some Advice Thanks ..

I owe 20K all of which are credit cards , 10K Halifax(Classic 17.5% APR) - 5K NATWEST, 5K ACCUCARD (approx) now I have Halifax classic which APR is high around 17.5% am i able to bring this down if i give them a call or change over to plat account(That possible ? ) if not I’m thinking of taking a loan at a good rate(HOPEFULLY) to pay off all the card Debts , any one able to give me the current APR and what they think i should be getting ? i don't really need to pay it off in a long term i'd go for 5 years or less.
who would be the best to choose . I haven’t applied for any yet as advice on the forums suggest not to apply more than 3 times . What’s my best option, I’m 23 years old also do contract work (think that’s a bad point there) any advice .

Thank you

deemy2004

cannot apply more than three times ???

Where have you seen that advice, thats bad advice, you can apply for as many times as you want, though obviously the greater the frequency of applications the lower the limits and the greater the probability of rejection.

IF IT WAS ME !
I would do the following.
Apply for 2 cards at the same time - Say MBNA and Abbey, then shift the debt to those cards. I would also enquire as to if I can upgrade the Halifax classic to halifax one, as I think likely you will be granted 0% at 9 months.

Since this is all real debt and NOT stoozing, then I would work hard to pay down the debt whilst its on 0%, later on attempting to move the remaining debt onto fresh 0% cards, constantly paying down the debt, which is ALL on 0% interest.

Thats what I would do if I were in your situation, then only once I had a grip of the situation and was debt free would I look into stoozing, which is earning interest on 0% debt with a view to transfering on at the end or repaying from savings.

Smarty_3

Deemy2004 , thanks a bunch for your Advice , I’ll do that within a week and see the results and get back in touch if that didn't go well.

as for the three tried on getting a loan i actually meant , it's best to not apply more than 3 times as it will effect the credit scoring and could leave me to higher APR . (Apologize for the mistake)

if anyone else has any other advice i would be great full to hear from you

thanks again buddy ,