THello

Thanks so much for all your great advice. I so want to get on top of this and never get into the same situ again. I think the best bet for me is to get a loan so I don't have debt on my mind 24/7! At least then in a few years it will be done and dusted. Also, to save a bit in a savings account or ISA is also a good idea and so I will do that too.

Thanks again.

Fran :)

MasterCard & Visa

• 0%p.a. on balance transfers for nine months. Subject to a 1.5% fee (minimum £3).
• Standard rate of just typical19.9% APR (variable) for purchases
• which one are you looking at? as im interested too

A bit more on that one:

1, Regarding the paying of cards vs. a loan. I expect that each credit card is costing you at least 90 pounds, so lets call that 400 pounds. The loan repayment, I would guess, could be as little as half that. If you had any spare cash left each month, then pay back more that month. This gives you more flexibility when you need some cash to pay another bill.

Think long-term - on your wage, that amount of debt wont be gone in 6 months or a year. That's ok though, expect it to take a while and plan for it.

If you go this route, I strongly advise you put a little money aside for savings. Even 10 pounds a month is great. It adds up, and it's a big benefit to your state of mind to see something growing steadily, no matter how small. It beats only having debt on your mind. That money will slowly increase your liquid cash too, which is never a bad thing.

2, Whatever you choose will be a waste of time if you aren't being careful with your money. Don't waste a single penny. Really try to avoid any further extension of that debt.

Hi there,

You have a few options.

1. If you need to balance transfer again, you still have a few options. Ulsterbank provide a 6 month transfer at 0%, with no fee. You read right - no balance transfer fee at all. Also, they are super quick. I applied, and had 3000 pounds in the destination credit card within about 7 days - amazing. Abbey also offer this no fee 0% service, but, they are proving to be a nightmare. They agreed to my application back in August, yet my application has been 'stuck' ever since, and they are utterly hopeless at investigating it so bear that in mind.

2. For piece of mind, you could just convert all the cards into a proper loan from a bank, at say 8%. Yes, it will cost you, but, unlike the credit cards, the payments will not break you, and after 2 or 3 years, it will be paid off. You'll sleep easier.

3. Potentially, sell the car. It doesn't sound like you have any means to pay the costs, let alone anything else. Perhaps public transport is something to at least consider. For some people, it's a wise move i.e you rarely use the car, live next to a station.

Good luck

Hello

This is my first post on here and was wondering if anybody, expert or otherwise could help me to solve my not so little problem.

I have £10,000 debt over 4 cards...3 are on 0% but they need moving soon as the balance transfer rate is almost up and the 4th I have been using but only in true emergencies. I am actually in a better position than I used to be but the reason I have so many cards is because every time I wanted to move a balance to a card with 0% they wouldn't take the whole amount and gave me quite a low credit limit. I am running out of banks to go to as well.....as I am with most of the major ones (Virgin/Lloyds/Halifax/Barclays). Now, also I have just finished off paying my car loan but the car is in dire need of alot of money spending on it but I can't justify the cost as it isn't that new.

I earn about £15,000 a year but I would need to borrow at least £12,000 to clear my debts and either fix the car or put a deposit down on another and then I would also need enough to pay a chunk per month to a new car loan but I would rather have the whole lot together in one payment per month. What with the credit crunch I am not sure what I could get.

What are my options?? At least with regards to the evil credit cards (which I was stupid enough to get involved with).

Any advice would help and be much appreciated.