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  • FIRST POST
    • Niknac
    • By Niknac 17th May 19, 10:25 AM
    • 12Posts
    • 1Thanks
    Niknac
    Credit Report Dropped
    • #1
    • 17th May 19, 10:25 AM
    Credit Report Dropped 17th May 19 at 10:25 AM
    Don't know how to get out of this mess I am in and need some advise.

    Struggling with money each month and therefore using my credit card to get by. I have an aqua credit card and the balance is currently 1338.19 and paying a massive amount of interest. I also have a Barclay card with balance of 1804.00 but this is on 0% transfer and I am trying to get this paid off.
    My credit score has dropped a lot of using more then 25% of available credit and was hoping to transfer my Aqua card to another 0% but worried I will get rejected.
    Anyone have any advise on how to handle this, I am also having to move jobs and take a annual pay cut of 7k which is going to massively impact me. I am losing sleep and feel like I want to just run away as cant cope with this stress on my own anymore.
Page 1
    • Candyapple
    • By Candyapple 17th May 19, 10:29 AM
    • 3,072 Posts
    • 2,479 Thanks
    Candyapple
    • #2
    • 17th May 19, 10:29 AM
    • #2
    • 17th May 19, 10:29 AM
    Please read post #7 of the thread below as it applies to your situation:
    https://forums.moneysavingexpert.com/showthread.php?p=75813995#post75813995

    Also ignore your credit score as it is meaningless - it is your credit history that matters.

    Can you look for other part-time work to boost your income? Or look for another full-time job with a better salary?

    No need to feel down, head over to the DFW forum and post up a statement of affairs and they should be able to help you on your budget and ways to make your salary stretch further.

    https://forums.moneysavingexpert.com/forumdisplay.php?f=76
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Niknac
    • By Niknac 17th May 19, 10:29 AM
    • 12 Posts
    • 1 Thanks
    Niknac
    • #3
    • 17th May 19, 10:29 AM
    • #3
    • 17th May 19, 10:29 AM
    Debt
    Overdraft- 3000
    Aqua Card- 1338.19
    Barclay Card- 1804.33
    Next Directory- 471.23

    Total Debt: 6613.75
    • Willing2Learn
    • By Willing2Learn 17th May 19, 10:31 AM
    • 2,934 Posts
    • 2,471 Thanks
    Willing2Learn
    • #4
    • 17th May 19, 10:31 AM
    • #4
    • 17th May 19, 10:31 AM
    How much are the limits on each card?
    Are you managing to pay more than the minimum contractual payments?
    Do you have any other debts?

    Try not to worry about your credit score as lender neither see nor use it. Lenders score you independently against their policies and criteria using the data held in your credit files, added to the data you submit in an application, added to the data they already hold on you as an existing or returning customer.

    If it were me, I would post on the DFW board for advice, support and guidance to reduce your level of debt. If you do decide to post on the DFW board it would be useful if you could include your Statement of Affairs (SOA).
    Last edited by Willing2Learn; 17-05-2019 at 10:33 AM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Candyapple
    • By Candyapple 17th May 19, 10:40 AM
    • 3,072 Posts
    • 2,479 Thanks
    Candyapple
    • #5
    • 17th May 19, 10:40 AM
    • #5
    • 17th May 19, 10:40 AM
    Sorry just saw that you posted on DFW back in Feb:
    https://forums.moneysavingexpert.com/showthread.php?p=75453808#post75453808

    If you balance transferred your Aqua debt to Barclaycard back in Feb, what did you spend 1338 on in 2 months to run the card back up in debt again? Can you sell anything from this?

    Enter your figures below and pay off your debt interest order first:
    http://www.whatsthecost.com/snowball.aspx
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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