Advice on credit cards pls

[housters]

Hi everyone,

My wife and I have 3 credit cards which are costing us more than we can afford each month. A major problem is that 2 of the cards are over the limit and I’m in agreement to pay a minimum payment each month which isn’t even covering the interest added, hence the debt is increasing each month. The other card is within the limit but because we only pay the minimum payment that debt is not going anywhere.

Where do I start in order to reduce these debts or better still get rid of them altogether?

Thanks

[LooLoo]

Re: Advice on credit cards pls

Hi and welcome.

Firstly you will need to provide a little bit more info and have read up on what path you think would be best for you.

UE is one route which you can take depending on when the cards were taken out and what your situation is or you can think about a debt management plan.

If you could post a bit more info as to when the cards were taken out, how much is owed on each one, who the debt is with and we can go from there.

Take Care

[swanfan]

Re: Advice on credit cards pls

Hi & welcome,

Just to add to what LooLoo has said have a look here & provide the information on each card--> allaboutFORUMS - View Single Post - Unenforceability Diaries - Read me First!

[housters]

Re: Advice on credit cards pls

Hi,

Thanks for your quick replies I'll sort out the details and post it up.

[housters]

Re: Advice on credit cards pls

Hi, here's the info I have on the 3 cards - still not sure the best place to post so left it here. Any help will be much appreciated.

Thanks

[housters]

Re: Advice on credit cards pls

Don't want to leave info on tread

[housters]

Re: Advice on credit cards pls

Don't want to leave info on tread

[housters]

Re: Advice on credit cards pls

Don't want to leave info on tread

[Never-In-Doubt]

Re: Advice on credit cards pls

You may be best looking at a DMP, either self managed or via a free one, see the link below for details:

---> Debt Management - Do it Yourself DMP

---> Debt Management - DMP

Unlikely any will be UE due to the start date.....

[housters]

Re: Advice on credit cards pls

Thanks for your reply,

Are there any alternatives to debt management?
We are aware you cannot enter into a DMP with only some of your debt, as we do have other monthly outgoings we pay without concern. Our main problem is the high apr on these credits cards. We are paying the minimum each month and have been for years and its does not seem to be going anywhere.

Thanks again.

[Never-In-Doubt]

Re: Advice on credit cards pls

Ermmm what "other" debts you got? Any older ones?

Please clarify a few more details

[housters]

Re: Advice on credit cards pls

Hi,

I'll break the other debts down and get back to you, not sure if any are pre april 2007?

Cheers

[Never-In-Doubt]

Re: Advice on credit cards pls

I'll break the other debts down and get back to you, not sure if any are pre april 2007?

Thanks - just basic amounts and dates commenced will be fine...

Are you homeowners or renting?

[housters]

Re: Advice on credit cards pls

Don't want to leave info on tread

Thanks

[Never-In-Doubt]

Re: Advice on credit cards pls

I would really consider speaking to someone from a specialised debt advisory service, such as CCCS, because everything is too new, unenforceability wouldn't be the best choice here i'm afraid....