Struggling with credit card debt?
If you have mounting debts caused by credit cards, you’re not alone.
Currently there are over 64 million credit cards in circulation – with debts totalling £57.7 billion!
It’s not difficult to fall into credit card debt. It’s an easy form of credit that’s often readily available when we need it, whether the purchase is essential or not.
Credit cards should never be seen as a long-term lending solution, especially because APR rates and additional fees can be very high, which can push people deeper into debt.
Consolidate credit card debt to clear what you owe
One way to deal with credit card debts is to consolidate the total amount owed. This could help you save money on fees and interest and make repayments more cost effective for you.
A popular way to consolidate debts is with a Debt Management Plan. A DMP enables you to repay creditors at a rate you can afford, and because debts are consolidated, you’ll only pay one affordable amount each month!
If you have other unsecured debts, for example these could include store cards, catalogue accounts, personal loans or an overdraft; you could also include them in a Debt Management Plan. This means you’ll be able to repay all unsecured debts.