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Newbie needing some advice please...
Miss_Moolay
Posts: 16 Forumite
I'm wanting to try and sort my debts out and i've been declined a loan - which i thought was my only option.
Here are my debt details.....
santander cc £1700
Mint cc £850
K & co £180
Very £650
TOTAL £3380
my income a month is £704 and although i dont have much money at the end of the month i am currently paying around £90-£100 a month on debt bills all seperately. I am keen to get the debt down but am currently just paying off more interest and only a tiny amount of the actual debt.
I do not have a perfect credit score due to my partner making a few late payments on the mortgage and currently in arrears (which he is in the process of sorting) I however have never missed any payments.
What would be the best option for me? I have heard that as I already have an MBNA card it is best to avoid going for one of their 0% cards.
If anyone has any information or guidance to help me i would greatly appreciate it!
thanks in advance
lauren
Here are my debt details.....
santander cc £1700
Mint cc £850
K & co £180
Very £650
TOTAL £3380
my income a month is £704 and although i dont have much money at the end of the month i am currently paying around £90-£100 a month on debt bills all seperately. I am keen to get the debt down but am currently just paying off more interest and only a tiny amount of the actual debt.
I do not have a perfect credit score due to my partner making a few late payments on the mortgage and currently in arrears (which he is in the process of sorting) I however have never missed any payments.
What would be the best option for me? I have heard that as I already have an MBNA card it is best to avoid going for one of their 0% cards.
If anyone has any information or guidance to help me i would greatly appreciate it!
thanks in advance
lauren
0
Comments
-
What are all the aprs? Have you got anywhere you can cut back.
If you post an SOA, people will be able to answer your questions a bit better and also help you find ways to reduce.PAD Maker0 -
Pop up a SOA and I'm sure there will be suggestions of where cuts may be poss & which debts to concentrate on first.
The bank have actually done you a favour - consolidation rarely works as it's so easy to run up the debts again.
TBH with the level of debt compared to your income, I'd be surprised if you'd be accepted for a loan / another card. - much better to find ways of making cuts & paying it back without taking on more debt.Grocery Challenge £211/£455 (01/01-31/03)
2016 Sell: £125/£250
£1,000 Emergency Fund Challenge #78 £3.96 / £1,000Vet Fund: £410.93 / £1,000
Debt free & determined to stay that way!0
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