Knowing that you are struggling with UK credit card debt’s is the first wake-up call that need’s to happen, as this allow’s you to come up with a plan to seek debt advice or start to repay your debt.
The best way would be to cut your credit and store card’s in half and use cash, this way you will not be getting into debt with your card’s, it might be hard to get used to but its something you must do.
Whilst many people want to try and get rid of their debt or stop getting into any more debt in the current financial climate, with the lack of other credit option’s has led to people increasingly using their credit card’s to fund day to day purchase’s and even to pay bill’s.
Work out where you can cut back on frivolous spending. Successfully learning how to cut back mean’s that you can prioritise repaying your UK credit card debt’s or other unsecured debt. You may want to pay off the one with the highest interest rate first so you don’t build up unnecessary credit card debt.
There are a number of reason’s why it is easy to fall victim to mounting UK credit card debt’s :- * having Multiple credit card’s. * Missed payment’s lead to additional charge’s. * High interest rate’s coupled with a low minimum repayment required.
The best option for people would be to join a credit union. Here can save and borrow at the same time and pay a very low interest rate.