09 Mar 2015

A question about : Debts starting to pile up...

Ok,so here is my current situation which is quickly becoming a major concern.

I'm self employed with little/no work at the time being.It's been like this since the start of the year,however it usually picks up around March/April and continues right up untill Christmas.

I currently have 3 credit cards (Barclaycard,Capital One,Vanquis) with Ј135 available on Barclaycard from an Ј800 limit,Ј295 available on Capital one from a Ј500 limit and Ј80 on Vanquis available from an Ј500 limit.

I've had the Barclaycard for about 4 months and have always payed off the balance in full previously.

Both the Vanquis and Capital One are new cards activated at the start of this month.I am yet to receive a first statement from either of these cards.

Currently I have a total of Ј500 to pay in bills before the end of this month with also ~Ј400 from work to come in early next month.

I'm planning on using the credit cards to pay my bills(Rent,Car finance,Insurance,Phone bill etc.) as I cannot see any other option. But I am worried about the increasing charges this will incur on the credit cards and also about how I am going to minimize any interest charged on the outstanding balance(s).

This morning I tried to get a loan in order to pay everything off including all credit cards and my car.However this was rejected.

The only option I can think of is to phone every company I have debt with and see what help they can give.

Any other ideas would be much appreciated.

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