I have around £5,500 on a credit card, paying £135 per month, of which £80 is interest. Since having children, I only work part-time and my salary is nowhere near the £20k-£22k asked for on a lot of the balance transfer cards. What is the best way to try to repay this debt in the most efficient manner?
Also, my husband has around £8,000 outstanding on credit cards, paying £210 per month, of which £123 is interest. He is employed full-time but only on a temporary contract for the time being. What should we do with this debt?
We can't really afford to pay more than we are at the moment, although if my husband was to gain permanent employment this would change. We've had a few years of struggling financially due to redundancies and being on maternity leave and are really keen to start making our way out of this hole but struggling to find a solution due to our circumstances.
All suggestions appreciated.