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Help needed with Credit Card Debts.


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Hello,

I have around 45K worth of credit card debt (on 8 cards).

I am currently paying around £1600pcm in credit card payments and about £1400 of this is interest.

 

My financial circumstances have recently changed and I cannot afford to continue to make these payments.

 

I also have 2 mortgages on 2 properties at a total of nearly £500K and the total payments for both of these together are much less than the credit card payments.

 

I have £140K equity in 1 property and £80K equity in the other.

I have never missed a mortage or credit card payment to date.

But due to my credit cards being almost maxed out (91% according to Experian credit expert)

I have been declined a remortgage to consolidate the cards to a new remortgage

 

I am also recently self employed so I need to self certify my income.

 

I don’t want to damage my credit report any further and I would prefer to consolidate or pay these cards in full (at an affordable interest rate)

 

Please can anybody please advise me if I can legally get the credit cards to reduce these extremely high rates of interest without damaging my credit report?

 

Does anyboby know if there is a legitamate company that would offer a secured loan based on my circumstances.

(I would obviously be prepared to pay above the standard high street rate by not a stupid rate)

 

 

If not is there any way I can use some type of debt consolidation plan

to repay this at a lower monthly payment without damaging my credit report?

 

Any advice would be gratefully received

Thank you for reading.

 

N

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have a word with CCCs or payplan

or the natrionaldebtline.

 

there is no way i know of reducing int rates

though pp/cccs WILL be able to freeze them in most cases

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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